Because Tron's TRON emulates Ripple's XRP
From the beginning of 2018, on the whole cryptocurrency market has seen a dramatic decline in value. The seriousness of this problem manifests itself when the incredible last year's bullish run is considered as expected, several people in the cryptic community have cited various reasons for this collapse. Some consider it a simple consolidation, while others believe that the uncertainty surrounding the applicability of blockchain technology in real-life situations and the lack of institutional investors is the cause of the precipitation of digital currencies.
However, Ripple is changing the perception that blockchain technology can not apply to the real world. So far, the cryptographic network has formed strategic partnerships with many financial institutions. The cryptocurrency, which recently surpassed Ethereum (albeit momentarily) as the second largest digital asset by market capitalization, underwent an unexpected price rally that surprised many enthusiast encrypted. Although the price has declined in due course, the unexpected bullish run has made a statement.
Ripple's incredible turnaround has left many speculations that Tron might behave the same way, especially considering that the market capitalization value of the currency has dropped dramatically. For this reason, the majority of encrypted investors consider the digital currency oversold. The substantial price increase of 80% made by Ripple has certainly fueled hope in other alternative sectors that currently languish due to the general downward trend in the larger cryptographic space. Investors who previously feared red are now hoping to make profits, even if it is in the future.
Through his Twitter account, Tron's founder, Justin Sun, emphasized the importance of XRP's peak in the encrypted market as a whole. Here, Justin emphasized that PNC Bank, a leading financial institution, had demonstrated its support for blockchain technology by integrating the Ripple protocol. To put this into perspective, the PNC bank is classified as 9th the largest banking institution in the world in terms of business.
In addition, Justin also revealed that President Bill Clinton will be among the keynote speakers at the next Swell conference. The convention should be attended by global leaders from the trade and technology sectors. The main agenda will discuss how technology can improve the delivery of services to the community. According to Sun, the conference is an indicator of the adoption of the mainstream blockchain.
Furthermore, Sun was impressed by the Ripple ripple why the Tron Foundation owns a couple of shares of the Ripple blockchain. In fact, Justin served as Chief Representative of the Ripple network in Greater China. He concluded his tweet by reiterating that he expects traditional financial institutions to start embracing blockchain technology in greater numbers.
The Swell conference is scheduled for October in San Francisco. During the meeting, Bill Clinton will answer questions from the public. Other notable speakers include Brad Garlinghouse, CEO of Ripple, Ed Metzger, head of innovation at Banco Santander and many others.
As more financial institutions adopt blockchain technology, it is expected that cash flow will increase in crypto markets, with a consequent increase in the value of digital currencies. In Tron's case, it seems likely that the currency will follow the trend set by Ripple's XRP.