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Coin discovery: Tron

Project Info and Use-Case:

TRON is a decentralized platform that allows the creation of content, websites, and applications. Also known as “Web 4.0”, TRON also allows the issuance of digital assets on its own blockchain, such as BitTorrent coin, released in February 2019.TRON’s aim is to cut out the middleman in entertainment-based services and bring consumers directly to the content creators. 

Tron company logo

Through the use of the TRON Virtual Machine or TVM, developers can create and execute smart contracts written in Java or Go (GoLang). These smart contract allow for the creation of decentralized applications, or DApps, which can operate on top of the TRON blockchain.

Coin Specifications:

Coin type: Delegated Proof-of-Stake (DPoS)

Market Cap Avg: $1,690,138,803 USD (437,318 BTC)

Volume Avg (24h): $209,267,894 USD (54,147 BTC)

Circulating Supply: 66,682,072,191 TRX

Max Supply: 99,281,283,754 TRX

Additionally, Tron ($TRX) has been in existence since 2017, and its use-cases and adoption have been growing ever since. The following are some of the exchanges on which Tron is listed: OKEx, Houbi and Binance.

Coin Correlation Analysis for Portfolios:

>Tron (TRX-USD) has a negative correlation of -0.53 with Bitcoin (BTC-USD) over the last 30 days, increasing significantly to 0.84 over the last 14 days. Tron’ volatility has been on average around 4.33% daily, and only 0.78x lower than Bitcoin’s (5.6%).

>Overall: Preferred in bear markets. Good portfolio addition as it does not follow BTC’s price trends. Due to the coin’s volume and volatility, the ideal portfolio allocation is medium-high.

Technical Analysis (See Graph):


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