Ever since the launch of the Tron Main net back in May 2018, the coin has seen the price drop to lows last seen in early December last year. This drop has kept many investors in the area skeptical of the future as 2018 turn out more bearish by the passing day.
Tron’s 2018 so far…
Most cryptocurrencies are currently trading far lower than they started the year as the market tumbled after the boom seen at the end of 2017. Tron (TRX) in particular has seen its price fall by 57% since the start of 2018 when it traded at $0.49 USD per token. Tron is currently trading at $0.018623 USD, representing a 95% drop since its all-time high on January 5th this year at above $0.235 USD. The last month has seen the TRX token continue to lose against both the dollar and BTC as the market continues to face one of the worst bearish markets seen.
Year to date price analysis of TRX
As it can be seen on the lower chart (in grey) in the image above, the daily volume traded on Tron pairs has reduced significantly as the price reduced. During the peak season in early January, a total daily volume of $4.71 billion USD worth of TRX tokens were traded across exchanges compared to the $180 million USD traded today.
However, it is key to notice that TRX has performed better than most coins since its advent a year or so ago. Launched in Q2 2017, the token has seen its total return on investment at 800% which gives early holders a HODLing opportunity on the coin.
Tron Foundation performance in 2018
The Tron Foundation is the key developer and management of the Tron blockchain even if it’s an open source platform. The team, led by Justin Sun, one of cryptocurrencies’ youngest founders, has had a successful year so far as they were able to successfully launch their mainnet, gain further listings on exchanges and make more partnerships in their quest to gain global adoption.
Tron gains listing on Abra
One of the most recent news emerging from TRON Foundation, is the listing on Abra Exchange. The exchange that has already listed over 20 tokens for trading including Bitcoin, Ethereum and ZCash announced that it would be adding Cardano (ADA), Tron (TRX) and Basic Attention Token (BAT) to its trades. This comes at a time that Abra has accepted payments from SEPA accounts. The acceptance of the European accounts payments and the simultaneous addition of Tron to the platform will offer a chance for growth in adoption for the token as investors in Europe adopt Abra.
”With users from over 70 countries globally, and a greater demand for the ability to invest in cryptocurrencies from any bank account, it is really important to give investors the opportunity to fund their Abra wallets directly from any bank account. This new feature is helping to change the way people invest, adding to a brighter future for the cryptocurrency market around the world.” – CEO of Abra