TRON (TRX) – While cryptocurrency markets continue to lose billions of dollars, TRON is the last currency to suffer from a decline in value despite the positive development of the project.
Last week, the TRON Foundation launched a bomb of an announcement that the cryptocurrency would be associated with one of the world's most popular torrent services: BitTorrent. While the news was anticipated before the official confirmation, considering that Justin Sun was linked to the purchase of the peer-to-peer file sharing service from the beginning January represented a milestone for the project in terms of what could anticipate the money community on the main network.
Proud to announce @ BitTorrent and @uTorrent are now part of the family #TRON . BitTorrent is supported by over 100 million active users. Together we are building the decentralized Internet future! Stay tuned for updates #TRONBT $ TRX @Tronfoundation https://t.co/mQQqUeOaHv pic.twitter.com/eSYY4lWsXI
– Justin Sun (@justinsuntron ) 24 July 2018
While much of the TRON community appreciates the official announcement linking the cryptocurrency with Sun's acquisition of BitTorrent, the market still has to reflect the acquisition in terms of value. Despite the addition of over 170 million users through decentralized file sharing, investors have not turned to TRON in the way a high-profile merger would appear to be. Instead, the price of TRON continued to fall with most of the market, seeing only a modest rise in prices following last week's announcement, which has already been eroded by falling prices in recent days.
In addition, the TRON update of TVM, the TRON virtual machine to assist in the creation of independent contracts and independent blockchains, has had a minimal impact on price. Despite the announcement of an announcement of the Atlas of the project a proposed improvement of the main network of TRON to work more efficiently with BitTorrent, the positive action of development outside the medal is seeing little reflection on the market value.
While most cryptocurrency investors, particularly those investing in projects hoping to gain long-term appreciation, have become accustomed to the reverse price movement accompanying the new development, it features 2018 as a year more bizarre for cryptocurrency. Despite the winning value of the market capitalization of the sector, 2018 was by far a huge year in terms of development of the crypt and new adoption, in many areas of many currencies.
Considering the reckless investments that have capitalized in the last quarter of 2017 and the opening weeks of this year, the total fatigue of the industry could lead investors to worry less about which projects are improving or forming new partnerships, and instead of creating the conditions for a massive exodus to try and conquer the bottom of the market. Bitcoin continued to maintain its influence on the price movement in the sector, with a small rally in response to an ETF-approved ETF. However, following the dismissal of last week's Winklevoss bid to form a BTC ETF, the market took a decidedly negative position on short-term cryptography, again contributing to the volatility imposed by Bitcoin on the industry .
Despite the lack of return of value for TRON and TRX investors, the BitTorrent infusion on the currency network can only benefit in the long run. While 2018 represents the great interest in cryptography and blockchain projects, the second half of the year and the next may be looking for legitimate reasons to use cryptography. Sun and the TRON Foundation have yet to outline their torrenting plan on the cryptocurrency platform, but have proposed the intention to incentivize participation. Given the substantial overlap between crypto and torrenting, it seems that there is legitimate space to grow through the BitTorrent merger.