TRON (TRX) transactions have been picking up - with 127 an hour and potentially growing, as the new network launches. However, verification is still not in the hands of Super Representatives, as the elements of the new network have yet to come together.
However, the elections may be seeing a glitch, as most TRX tokens are locked on exchanges. While Upbit has reopened, Binance still does not allow withdrawals due to the recent maintenance. The elections for TRX are ongoing, and there is no deadline, but the tokens needed to vote will have to find their way to the official wallet.
In the meantime, the TRX market price has continued to unravel, down to $0.038 during the latest market downturn, losing another net 17% in the past seven days. For TRX, it has been a traditional move to start losing value right after achieving a long-awaited milestone.
!TRON!
One of the reasons for the TRX slide is the increased influence of Bitcoin trading, to 50% of volumes, and the slide in Binance trading and USDT volumes. But TRX is getting listed on new exchanges, including TradeSatoshi, a relatively small market.
https://twitter.com/justinsuntron/status/1011869193669472256
Additionally, TRON is expecting a listing on Bitmex soon, based on the coin’s popularity:
https://twitter.com/justinsuntron/status/1011579818670821376
From this point onward, the TRON project is anything but complete: July 31 has been set as another launch day, this time, of the TVM Virtual Machine. The complete TRON ecosystem should be ready before September 2018.
In effect, the TRON elections did not happen on June 26, as reports are arriving that Bittrex and Binance are additionally waiting to see if the mainnet is stable - and separate users may wait even more until using the new TRON wallet and the voting mechanism.
At the same time, there are outlandish predictions for TRX rising to a few dollars toward the end of the year, once the ecosystem takes off.
This article appeared first on Cryptovest
