Famous and time tested investors will tell you that when they are buying regular stocks, they do not rush to look at their market performance right away. No. The analyze the company from the top management to the product or service being produced. One is tempted to quote how Warren Buffett came to the conclusion that Apple and Amazon were the future of technology due to the two aforementioned factors of management and a solid product and/or services. Another thing that Warren is known to do, is buy stocks when the market is in a panic as with the case with the current crypto markets.
Well, moving over to the crypto-verse and analyzing the recent moves by Binance announcing that it will be offering permanent TRX token migration as well as TRX/USDT trading pairs; this move can only mean three things. The first and second being that the top management at Binance have realized that the management at Tron is top notch and that the MainNet is a solid platform/product. The third being that the project has massive support in the form of the TRON community who also make up a good percentage of the Binance users.
In terms of the Tron Community, Justin Sun alone has 481,000 followers on Twitter. His followers outnumber those of popular global politicians. Also on the topic of the TRON Community, there are currently 1.22 Million TRX HODLers according to the TRON Website. This is an amazing number of believers of the project and Justin Sun.
Elaborating more on this, Justin Sun has been the face of this project from Day 1. He has overcome FUD to release the TestNet and MainNet successfully on the 31st of March and 31st of May respectively. He has surrounded himself with the best of the best in terms of the team at TRON. The team has grown to the major global hubs of Beijing, Seoul, Tokyo, The United States and with more growth happening on a daily basis. Justin Sun was once noted on Twitter as saying that he was sending out one job offer on a daily basis.
His tweet was as follows:
Finally got a group photo with all 108
#TRON Beijing office team members. We are one of the fastest growing #blockchain teams, sending out 1 offer/day. We expect to be 400 strong by year end, exceeding ETH, and have a global team of 1k+ in 2019. Join the revolution! $TRX #TRX
With respect to the product, the current Tron platform has over 100 Million users through the numerous existing DApps that will be migrated onto the MainNet as soon as the Genesis Block is launched on the 25th of June. The MainNet promises 2,000 transactions per second. This number is 80 times faster than that of Ethereum.
Returning to the analogy of Warren Buffett, the Oracle Of Omaha was quick to buy Apple stock but at the same time, regretted to not buying Google and Amazon when the stocks were more or less ‘affordable’. The question now is, what version of Buffett do you want to be in relation to TRX?
It is true that Buffett does not like cryptocurrencies, but please entertain the thought.
Current market analysis indicate that TRX is valued at $0.046 and down 0.71% in 24 hours. The last time TRX was at this value was in mid April, 2018.
Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.