Tron (TRX): The cryptocurrency market is rebounding after a low month-to-date returns stifled growth in most of the projects in the field. This Friday, most of the coins were in the green in daily return terms as Bitcoin crossed the $6,800 USD mark and Ripple (XRP) shortly claiming the second position on the grid with a 80% increase to $0.5 USD in value over the past 24 hours. The rise was however short-lived as most coins went back to seeing 24-hour drops in value with coins such as Tron (TRX) decreasing by a slight 1% margin on Saturday.
The latter coin is our main focus on the article as we determine the 2018 factors that will push Tron blockchain and its associate cryptocurrency, TRX, past the $0.067 USD mark in 2018.
Why choose the $0.067 USD mark?
Tron (TRX) has long desired to reclaim its position in the top ten rankings on the grid. The highest the coin has climbed so far is position 6 back in January when the coin hit an all-time high of $0.25 USD. For Tron to reach these height once more, it will have to beat the returns of the coins ahead of it significantly.
If we assume the price of TRON will increase while the coins ahead of it remain relatively dormant, Tron needs to increase to above $0.0677 USD to clinch the sixth spot from the current holder Stellar (XLM). Stellar currently has a market capitalization of $4,454,030,737 USD, over three times the market cap of TRX at $1,494,438,388.
Doing the math, considering all factors remain the same, TRX will need to increase its value by 300% in the last quarter of the year to have a hope of clinching the sixth position before the end of the year. Impossible? As much as other markets might find it hard to predict such a huge increase, the world of cryptocurrencies works on different rules that make the $0.0677 USD prediction a real possibility.
Events pushing Tron (TRX) to break the $0.067 USD mark in 2018
Tron (TRX) holds all the ingredients available to the Tron Foundation team to see the price move significantly upwards towards the $0.067 USD mark. The following are some of the ammunition left to Tron’s hand in a quest to break the top 10 listings and keep its place there.
Alibaba announcement cannot come sooner
We all know the sizzling relationship between the CEO and founder of Tron Foundation, Justin Sun and the CEO of Alibaba, Jack Ma. The persistent photos of the two together may be a coincidence given Justin is a protégé of Jack Ma or the two could be working towards integrating the cryptocurrency on Alibaba or Ant Financial, a company owned by Ma too.
Such a move will see the confidence of investors grow in TRX as it will stand as the largest institutional investor into crypto yet which will without doubt push the coin towards the $0.067 USD mark.
Increase in TRON mainnet nodes
The launch of the Tron Blockchain mainnetversion in May had a significant impact in TRON’s price. During the month of April this year when the news on the mainnet launch became public, the coin’s price tripled from a low of $0.03 USD to $0.09 at the end of April.
Such an increase is possible once more if Tron pushes for more nodes to be distribute across the globe to make the system even more decentralized which makes the blockchain readily acceptable by the communities and investors.