Considering last weeks double digit percentage rises from Tronix (TRX), while all other crypto's were nose diving, you could have been forgiven for thinking we were ready for the first scheduled launch window. With tests for trajectory and onboard avionics complete, and stage two and three propulsion rockets ready to be detached, the Moon was within our grasp! Only for us to plummet back to earth for marine recovery operations a few days later.
The whys and wherefores have been discussed online all week on countless Reddit streams, youtube channels and Blogs.
Whales playing the markets? New partnership fails or exaggerations? Justin putting foot in mouth?
Tronix Trolls were out in force, chit coin this, chit coin that. But TRX followers and hodlers alike just smiled ruefully and wait for another launch date. We know take off will come and are safe in the knowledge that it will surpass anything expected by crypto communities. Or will it?
It certainly has the potential.
There is no denying it's meteoric growth and it does the simple things well. Excellent marketing and plenty of it, constant communication with it's armies of avid followers and the fastest addition of Dapps in any ecosystem.
It's main focus seems to be the incredibly lucrative entertainment sectors, initially gaming Dapps, but then, after a difficult round of negotiations (including a lawsuit), with a leap into other areas with acquisitions such as file sharing service BitTorrent for $140 million dollars. The Tron TV platform is another advance into this area and aims to enable its users to watch television content easily, by allowing them to stream it using the Tron (TRX) wallet. It will even incentivize viewing by offering payments to watch ads, (much as in the same way as the Brave browser rewards users with BAT as discussed in one of my earlier topics) encouraging mass user take up.
And remember Netflix, how it used to send DVD's through the post? Look at it now- and it's share value!
Can Justin Sun's TRX achieve the same. Entertainment is king!
So when it does finally achieve lift off, where is it going. There have been many predictions online, from the modest, to the obviously unachievable and everything in between. So lets take a look at a few below.
THE RIDICULOUS- Will TRX reach $100
No you dolt!!!!
Total circulating supply of Tron (TRX) is 66,670,124,450 TRX (according to coinmarketcap).
To get TRX to a $100 you would need to multiply that circulating supply of 66,670,124,450 TRX by $100 to get a total market cap for this coin (how much money investors should invest to reach the price).
so,
66,670,124,450 * 100= 6,667,012,445,000 USD
A bit more than a 6.5 trillions of dollars
Only Justin Sun would push THAT bullchit!
Netflix has smashed the entertainment market and with a value of billions, it can still only dream of those kind of figures.
THE MODEST - Will TRX reach $0.50
At the height of the Crypto bull market it made it to a very respectable $0.30 (how many of us wish we had sold then:))
And with the crypto winter shining a light on many of the chit coins and scams for what they were, new investment is piling in to tried and tested projects like TRX. And as I say above, entertainment is king. That’s not to say TRX will accomplish the same heights that Netflix has, and the biggest and bravest projects always have to contend with the loud cries of dissenters and trolls. Justin Sun and Tron aren’t out to be the next Bitcoin, but they may be the next best thing to Netflix. They want to revolutionize the entertainment industry of the internet and entertainment certainly seems to be where the mainstream money is. And what do we want for crypto? That's right, MAINSTREAM ADOPTION!
There are lots of sites out there trying to predict TRX future prices, TradingBeasts, DigitalCoinPrice, CoinSwitch, CoinCheckup the list goes on.
Most have one thing in common - the prices they were predicting TRX to reach in the next two to three years have already been surpassed.
Granted, the price has always so far dropped back down again. But the interest and investment is obviously already there and keen investors are circling like hungry sharks waiting for the right moment to get in hardcore!
THE DREAM - Will TRX reach $1.00
This is one of the leading questions being loaded into Google search in relation to TRX.
Moving into entertainment, Dapps in Samsung's Play Store, dinners with Buffet, huge investment projects surrounding the cryptocurrency increasing and momentum that looks like it is going to be kept well into the future.
BUT
The current total supply stands at 100 Billion TRX with the circulating supply currently at 71,659,657,369 Billion TRX. For Tron (TRX) to reach $1, the market capitalization will, in turn, be $71,659,657,369 Billion, which is $28.8 Billion higher than that of Ethereum right now.
Of course, that's right NOW. Investment is flooding in (and out) and back in again to ETH, TRX and every other well established coin and token out there. As mass adoption takes place across all continents, people give up on traditional banking and savings, transactions move from the likes of Visa and Mastercard to instant and CHEAP crypto transactions, we'll see huge capital move into crypto. Certainly in the hundreds of billions and maybe, eventually, even the trillions.
The strongest and most useful will benefit from this fresh influx of interest and capital, and I think TRX will be one of the major beneficiaries of this.
Just my thoughts, not investment advice, don't sue me.
My next blog will look at the actual price analysis of the predictions of $0.50 and $1.00 moves, and what would be needed to achieve this.
