The cryptocurrency market is in the red as I settle down to write. Investors are having mixed feelings about the digital assets, although there is always a positive side to every price movement. For those who bought high in various coins, they wait in anticipation for the trend to reverse and realize the much-await gains. On the contrary, it could also be a suitable time to invest. However, it is essential to invest in a cryptocurrency that has the potential to recover tremendously.
- Tron (TRX)
Tron has been catching the attention of many cryptocurrency investors lately. The crypto boomed from trading as low as $0.03 to highs of $0.09, although this is still far from the all-time high. Tron price has been supported by the developments the team has lined for release in the course of 2018. The major event is the launch of Tron blockchain allowing the migration of tokens from Ethereum blockchain.
Tron blockchain gives the developers the capacity to create and hold smart contracts, build applications and store data. The network is highly scalable and guarantees support for an increasing number of users. In the next five years, Tron is predicted to be trading worth $1 and more. This owing to the fact that the technology is brilliant and the team is dedicated to ensuring that there is constant development.
Although Tron price is currently correcting lower and trading at $0.069, it has the potential to attack $0.01 in the near term. The blockchain is scheduled for June while a newly re-designed website has been launched already. The countdown to the TRON MAINNET is at 14 days and the price could spike as the date approaches. Tron is currently ranked the 10th in the market but the CEO, Justin Sun sees it being a top 5 crypto in the near future.
EOS, on the other hand, has been on a journey of its own since the beginning of April. Initially, it began with the eosDAC airdrop which caused a surge in EOS price from trading around $5.5 to breaking past the all-time high traded in January 2018. The cryptocurrency became the first among many other coins to smash its all-time and trade at $22.5 before beginning to correct lower.
At the moment, EOS price is trading at $12.45 and is down over 8% on the day at the time of writing. Although it might appear like the asset is losing its mojo, I believe EOS is gearing up for another bull run and the best time to buy into it while it is still low.
EOS is also launching its mainnet on June 2, 2018. The launch is very instrumental to the success of EOS which is still an Ethereum token. The ICO has been running for over a year now and will come to conclusion on the day of the launch. EOS is the fifth cryptocurrency by market capitalization after taking Litecoin (LTC) position.
- Litecoin (LTC)
The market is bearish now and Litecoin has not been spared from the slide. Litecoin was recently added to Gemini, the cryptocurrency exchange that was launched by the Winklevoss twins after they acquired a license from NYDFS. Litecoin price lagged its reaction and even correct lower despite the support.
At the time of writing, Litecoin is down 2.44% on the day in the last 24 hours while it is trading at $137.82. Its market capitalization stands at approximately $7.75 billion, besides it is the 6th cryptocurrency by market capitalization after losing the fifth position to EOS not long ago. Its trading volume has stabilized above $400 million for some time now.
Many investors believe that Litecoin (LTC) is far gone for investment, however, a closer look at its journey, we realized a steady development. The Litecoin Foundation is making great advancement and is pushing for the adoption of LTC into the global payment systems. Litecoin could small its all-time high before the end of the year. Moreover Abra, a zero fee trading platform announced that it will be integration support for Litecoin. On Abra, Litecoin will achieve free transfers. Will all these great developments and more coming through in future, Litecoin is one coin that investors must consider investing in during the current market slump.