In a tweet a few hour ago, Weiss Ratings acknowledged that the Tron project has proven to be popular with time and its TRX/USD trading pair is currently the most bullish looking of any top 10 project. The team at Weiss Ratings also acknowledged that they sometimes gave Tron a hard time with their criticism of the project. The full tweet stated the following.
We might give
#TRON a hard time every now and then, but give credit where credit is due: The #TRX/USD pair is the most bullish looking chart of any top 10 project right now. The popularity of this project cannot be denied. #BTC #altcoins #bitcoin #crypto #cryptocurrency
We might give #TRON a hard time every now and then, but give credit where credit is due: The #TRX/USD pair is the most bullish looking chart of any top 10 project right now. The popularity of this project cannot be denied. #BTC #altcoins #bitcoin #crypto #cryptocurrency
— Weiss Ratings (@WeissRatings) January 25, 2019
Weiss Ratings Criticizes Tron
One such incident of the team at Weiss Ratings giving Tron a hard time, is when they tweeted that TRON had hired a former SEC official to prove that crypto is not a scam. The tweet went on to postulate that Tron had plagiarized the whitepapers fof Ethereum and other projects. The tweet also accused Tron of changing file names to hide source code as well as throwing money at any problem they encounter. The full tweet can be found below.
#Tron hired a former SEC official to prove that #crypto is not a scam. They suffered from the news that they had plagiarized code from #Ethereum and other projects changing the file names to hide source code. Tron’s way to solve issues is to throw money at it. #TRX #BTC #Bitcoin
Why the TRX/USD Pair is Bullish
Further elaborating on the first statement by the team at Weiss Ratings, we find that TRX is currently ranked 9th according to market capitalization. Only $200 Million in market cap separate TRX from Stellar (XLM). TRX is currently valued at $0.0267 and for the past week, has been the only coin showing moderate gains as the rest of the top 10 digital assets either fell in value or experienced sideways movement.
TRX has been bullish due to the following reasons:
- As stated by Weiss Ratings, the project is popular. The Tron community is large and active on all social media platforms
- The BitTorrent (BTT) token sale is only 2 days away. It starts on the 28th of January till the 3rd of February. The token sale has caused some excitement around TRX and also BNB. In the case of the latter, the token sale will also accept BNB
- The first BTT airdrop will be on February 11th. After the first airdrop, holders of TRX will continue getting BTT airdrops on the 11th of each month till February 2025. This is 6 years of incentives to hold TRX
- The project continues to welcome new DApps, smart contracts and more. Justin Sun summarized the current development on the Tron network in the following tweet
#TRON has over 150 #Dapps and more than 300 smart contracts. According to tron.dapp, there are 7 decentralized exchanges(DEX), 6 collection games and 30 tool Dapps. The Dapp ecosystem is relatively well-rounded, forming an organic growth trend. #TRX $TRX https://t.co/whPKtjUMsF
— Justin Sun (@justinsuntron) January 25, 2019
What are your thoughts on Weiss Ratings acknowledging that Tron is a popular project and the TRX/USD trading pair looks bullish? Do you agree with this analysis? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.