Bitcoin is Booming - What is your favorite cryptocurrency?

neerajkr03 (72)memberin Best of India • 4 years ago

^{TRON official site | https://tron.network}

My cryptocurrency holding

TRX is one of my favorite cryptocurrency. I am holding approx 1250 quantities of TRX for the past 1 month and my plan to hold this for the long term around 5+ years or maybe more. I would watch all the developments closely on TRX at regular intervals. It is one of the favorite crypto of value investors across the globe.

^{source: binance.com}

What is TRX?

TRONIX (TRX) is a MainNet token based on the TRON Protocol, and it's issued by TRON Foundation. TRX connects the entire TRON ecosystem and powers transactions and applications on the TRON blockchain

Why did I chose TRX

I follow value investing and I feel that its valuation is still reasonable by looking at its market cap. The current use case of TRX is,

Credit card payment: Credit card Spend supports TRX payment.
TRON ATM machine: TRON ATM machine supports TRX online transfer
Participate in token issuance on TRON: TRX can be used to purchase tokens to be issued on TRON
TRX payment on website
TRX used on Poloniex and offers discounts on fees. It starts at 0.125% and with TRX it gives 25% discount and makes it 0.0937% which is very competitive in the market.
Buy gift cards

Popular DApps on TRON blockchain

TRON is a blockchain-based operating system that can handle 2,000 TPS — 24/7. It is a decentralized platform focused on content sharing and entertainment.

You could find the complete list of DApps on TRON blockchain here.

TRON blockchain has already popular DApps like JustSwap (exchange), SUN (focuses on the DeFi potential of TRON), and JUST.

JustSwap: JustSwap is a TRON-based fast exchange protocol for exchanges between TRC20 tokens.
SUN: SUN is a social experiment, which focuses on the DeFi potential of TRON. Designed as the quintessential Bitcoin equivalent on the TRON network.
JUST: It's a decentralized financial system that provides stablecoin lending and governance mechanisms for users around the world.
Tron Game Center: Get rewarded for playing games. Anyone can take part in the weekly competitions to win great Prizes
and, many more awesome DApps...

It clearly shows the potential of TRON blockchain and the type of application it supports.

The current active users on TRON DApp is 127K,
The total number of DApps are 1.44K.
and, DApps transaction volume is 49.6M which is great.

TRX current market cap as of 25th November 2020 is USD 2.43B and the current price is USD 0.034. Its global ranking is 15.

TRX is listed on 130+ exchanges. Below are the few popular exchanges on which TRX is listed.

^{Poloniex, Binance, Bittrex, KuCoin, Huobi, Bitbns}

TRX current performance and it's future

^{TRX/USDT 1 day chart}

TRX price is up by appx. 50% in the last one month and its above 200 MA. Also, it is following 21 days MA or above which is a positive technical signal. Being a long-term investor, I don't see these technicals but writing here just to explain the current technical view by looking at the chart.

^{TRX/USDT 1 week chart}

TRX price is up 300% if we see from March 2020 lows. In a long term, price follows the underlying value of the asset. By looking at the current DApps and projects supported by TRON blockchain, I feel confident about the growth of TRON and so TRX price will follow its value. It will be interesting to see the competition in the space in the future and how TRON keeps its system unique, fast, scalable, and partnership with big giants. The recent partnership with Samsung is certainly a positive sign. Samsung has added support for Tron-based DApps to its proprietary Galaxy store. It will help in the growth of TRON DApps.

Plan to hold, buy more, or sell?

I would like to buy more TRX, my plan is to follow the SIP (systematic investment plan) approach in TRX. So I would buy some qualities every month or every 3 months. I am not worried about today's or tomorrow's TRX price fluctuation. A long-term investor shouldn't see the price chart on daily basis. Or shouldn't decide based on the daily news.

I would share my other crypto holding in next post along with its use cases.

Thank you!

References:

Cc:-
@steemitblog
@steemcurator01
@steemcurator02

Screenshots are taken from the https://tron.network and https://www.dapp.com/dapps/tron.

The post payout is set to "Power Up 100%".

#bitcoinbooming #india #trx #crypto

4 years ago in Best of India by neerajkr03 (72)member

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sanjeev.kumar (66)Delegator 4 years ago (edited)

I think in India cryptocurrency is going to booming in a few years. And my favorites are ETH and TRX.

thanks for sharing.

#onepercent #india #affable

$1.08

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jehoshua-shey (71) 4 years ago

Great post here @neerajkr03

I am beginning to pick interests in TRON and this has been on for the past few days. I admit that this TRON has huge potentials. In fact, learning about it, I wonder why it's still not as high in value as most other coins. I think it's only a matter of time before this will finally happen.

The use cases of TRX are just interesting and so are the dApps on the TRON blockchain. I fancy JustSwap and JUST but you can mostly find me in the Tron Game Center. I won't pass at the chance of getting rewarded for playing games.

Nice post once again, thanks for sharing.

#onepercent #nigeria #affable

$1.07

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neerajkr03 (72)member 4 years ago

Thank you for visiting my post.

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sapwood (75) 4 years ago

In a long term, price follows the underlying value of the asset.

Exactly, fundamentals do matter to make it an evergreen asset. We have many Dapps infrastructures but the kind of scalability and cost-effectiveness with the Tron ecosystem is unparallel. Further, it lowers the barrier to entry.

It keeps on evolving rapidly, we have the web 3.0 Tron Link easy to use wallet.

TRX has already jumped 41% over the past 7 days and the altcoin rally has already started, at least the top 20 coins have already started FOMOing.

Thank you.

#twopercent #india #affable