3 Reasons Why TRON Prices Skyrocketed 3,650% in One Month

TRON prices have skyrocketed 3,650% in just one month, and our readers have a lot of questions about TRON and why prices soared.

That's why today, we wanted to make sure you knew everything about TRON, its official cryptocurrency TRX, and its founder, Just Sun.

tron

At just 26 years old, Sun has built an impressive resume.

  • Founder and CEO of PEIWO, the largest voice live-streaming app in China
  • Chief representative in Greater China for Ripple Labs
  • Protégé of Alibaba Group Holding Ltd. (NYSE: BABA) CEO Jack Ma

On top of all that, he is the founder of the crypto network TRON, a decentralized content entertainment system.

The TRON platform isn't running yet, but users will be able to publish and store their own data on the network, and they'll also decide how the data is distributed and subscribed to.

By using TRON, creators will be able to protect their content from unlicensed use, ensuring they are paid for what gets used.

The product is so innovative that it doesn't seem to matter to investors whether TRON has a working product.

On Dec. 9, 2017, TRX prices opened at $0.004. But by Jan. 9, the price of TRX jumped to $0.15. That's a gain of 3,650% in just one month.

But there's more to TRON's success than its content network.

Supporters of the crypto coin have driven up the TRX price by 3,650% for three reasons...

Why TRON Prices Are Skyrocketing, Reason No. 3: Justin Sun

The first reason crypto coin speculators are buying TRX is because of Sun.

His impressive background and connections to BABA CEO Ma and throughout the cryptocurrency community make some believe TRON will be a profitable investment.

This is similar to some investors wanting to invest in anything Tesla Inc. (Nasdaq: TSLA) CEO Elon Musk touches.

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Over the last five years, the TSLA stock price has climbed 817.09%. In comparison, the Dow Jones Industrial Average is up just 85.32%.

Because of Tesla's 817% returns, investors want Musk to take his other ventures, SpaceX and the Boring Co., public in hopes of netting the same type of returns as TSLA shareholders.

And because TRON is gaining more attention, some investors are buying alternative coins in hopes of not missing out on the next Bitcoin...

Why TRON Prices Are Skyrocketing, Reason No. 2: FOMO

Bitcoin prices skyrocketed 1,364%, from $963.66 on Jan. 1, 2017, to $14,122.20 on Jan. 1, 2018.

To own a whole bitcoin today seems too expensive, which is why investors are looking at alternative cryptocurrencies.

And the fear of missing out (FOMO) on the next Bitcoin, if there is such a thing, is causing investors to pour into cryptocurrencies like TRX.

When TRON was trading at $0.004 on Dec. 9, 2017, the transaction volume for the day was 17.5 million.

As more people saw the price climb and didn't want to miss the potential gains, transaction volume spiked to 1.26 billion.

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That's a 7,100% increase in transaction volume in just one month.

But as we tell our readers, emotion needs to be removed from investing. Cryptocurrencies are very speculative investments, and you shouldn't buy crypto just because of FOMO.

Remember, the price of Bitcoin could reach $1 million just as easily as it could collapse to pennies.

You should never invest what you can't afford to lose.

While FOMO partly explains the price of TRX climbing, there's another reason this coin is getting more investors excited than other altcoins.

A potential partnership with a $486 billion company is perhaps the biggest reason why TRON prices skyrocketed 3,650% over the last month...

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Why TRON Prices Are Skyrocketing, Reason No. 1: Alibaba Partnership

The prospect of a partnership with China's e-commerce leader has helped send TRON prices soaring, but the latest partnership was a letdown.

On Jan. 4, Sun tweeted that TRON would make an important announcement this week.

Justin Sun 1

And because Sun is a protégé of BABA CEO Jack Ma, some speculated the partnership would be with Alibaba.

If BABA started accepting TRX payments from its 446 million shoppers, TRON could be closer to achieving mainstream appeal.

Merchants accepting the crypto coin in the largest country in the world would increase the usage of TRX as a payment form, which would increase the demand, sending prices higher.

But today (Jan. 11), Sun ended the speculation in a tweet announcing the partnership was with a different company...

Justin Sun tweet

In a Jan. 11 press release, Tron Labs said that TRON will work with Baofeng to integrate blockchain technology with the online entertainment industry.

Sun was truthful that this was a partnership with a publicly traded company.

But the TRON community may have had their expectations set too high...

On the day, TRX prices are now down nearly 20%.

TRON and the rest of the crypto market is still so young that it's impossible to know how everything will play out.

Cryptocurrencies could turn into a painful investment lesson, with all prices dropping to pennies.

Or there could be just a handful of coins that remain valuable, like Bitcoin, Ethereum, and Litecoin, while the rest could vanish, including TRX.

But as we said in our report on Dogecoin, communities could rally around hundreds of thousands of coins. If a community is willing to buy and sell a coin, the currency will have value.

As profit opportunities and must-read news breaks in the crypto world, we will always keep our Money Morning readers informed.

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