Ledger is one of the most popular cold storage wallets for cryptocurrencies. Yesterday, the Ledger team announced that they would be listing Tron (TRX) as per their tweet below.
So why does this even matter for Tron (TRX), and why would it boost the long-term value of Tron (TRX)? Well, Tron (TRX) is a very young project, and its benefits to society will only be revealed with time. Trying to speculate on Tron (TRX)’s prices in the short-term is counterproductive, and investors are beginning to understand this. It’s investors that hold TRX for the long-haul that stand to benefit the most.
Unfortunately, when looking to invest in crypto for the long-haul, leaving money in an exchange is never a good idea. Everyone has seen all the hacks that have taken place in the last 6 months. That’s why no large investor would buy a crypto and hold it in an exchange for 5 – 10 years. This also explains the recent market excitement, after Coinbase announced that had developed a custodial service for crypto investors. Investors knew that it’s a doorway for large investors to enter the market and drive volumes.
As such, with the addition of Tron (TRX) to the ledger cold storage wallet, big money investors will start buying into Tron (TRX), looking to hold it for years on end. That’s because they are assured that their coins are safe, as they await for Tron (TRX) to work on its strategy. This influx of long-term buyers, mostly big money buyers is guaranteed to see Tron (TRX) surge in price to over $1.
In the long-run, 5 – 10 years from now, Tron (TRX) could hit even higher valuations. That’s because everything that Tron is working on points to a future where it will be a massive project in the decentralized ecosystem. For instance, Tron founder recently purchased Bit torrent, a world-leader in decentralized file sharing. Once this is integrated into the Tron ecosystem, it will put Tron in a very good place in creating a decentralized internet. That’s huge, and could see a massive run in the price of Tron (TRX) in the decade.
On top of that, Tron (TRX) looks set to take a sizeable share of the Dapps market. In a few days, the Tron team will be launching the Tron Virtual Machine. This will allow Ethereum developers move their projects with ease to the Tron blockchain. Tron has the incentive to attract these developers. It has low transaction costs, higher speeds, and is way more scalable than most other platform blockchains. In short, it is the closest thing to a perfect Dapps blockchain.
All this potential will not be realized in the short-term. It will take years to have a real impact, and HODLERs will reap big at that point. Ledger has given these investors a platform to invest in Tron (TRX). Once big investors start stocking their Tron (TRX) on ledger, demand will surge and so will the price. It’s a confluence of infrastructure and the right infrastructure.