After months of huge price drops that saw Tron (TRX) and Justin Sun become the subject of ridicule, the value of Tron (TRX) has stabilized and could be catching up to Tron’s fundamentals. Today, Tron (TRX) is one of the few coins in the green even as the rest of market shows sluggish performance. It’s marginal gains come after the launch of the Tron developer portal. This portal will acquaint developers with Tron and allow them to develop all sorts of applications on the Tron (TRX) network. As the number of applications being developed on the Tron (TRX) network rises, so will the value of the TRX token. That’s because it’s the native token for the Tron ecosystem.
But, is there an incentive for developers to start using the Tron network for applications development now that Tron has launched a developer portal. Well, looking at what Tron (TRX) has achieved so far, there is a good reason to believe that it will draw in developers going into the future. That’s because Tron has solved one of the biggest drawbacks to blockchain technology, and that’s scalability.
For developers to have the incentive to develop on any blockchain network, it needs to be in a position to operate at scale. That’s because if an application can’t scale effectively, then it means that the applications created would not have much of an impact on their target market. For instance, for a developer looking to create a social media application, they would need to be able to scale effectively in order to meet market needs effectively. In essence, the fact that the Tron network is designed to scale means that it will draw in developers to this network, and could lead to an explosion of Dapps, and by extension push up the price of Tron (TRX).
Actually, Tron is already drawing in developers to its network. So far, there has been an increase in the number of games developers coming to this network. This is a positive move and soon, it could become a top platform for the development of popular games. As more developers come to this network, it will be an all-encompassing network that will keep growing in intrinsic value over time.
From the long-term charts, it is clear that Tron (TRX) is poised to continue making gains going into the long-run. Looking at the weekly chart, which usually gives a clear picture of price action throughout the year, it is quite clear that Tron (TRX) is entering a long-term consolidation phase at $0.0196 – $0.025.
In essence, as the Tron developer network grows and more applications come up, Tron (TRX) could record huge gains going into the future. It has the potential to push up in value as demand begins to outpace supply in this consolidation phase. There is every indication that this is happening. That’s because, unlike in the past, Tron (TRX) is holding its value even when bitcoin drops. It’s an indicator that the selling momentum in Tron (TRX) is in decline, and buyers are slowly taking over the market. Going by these dynamics, the launch of the Tron developer portal is a welcome move to the growth of Tron (TRX) going forward.