One of the biggest bottlenecks to crypto grow is price stability. Crypto price movements are so wild that, merchants looking to integrate crypto payments just can’t keep up. It’s hard to accept cryptocurrencies as payments when most cryptos can lose up to 20% of their values in a day. The volatility is just in a league of its own.
This challenge can be linked to a number of factors. The first one is that crypto space is still young, which makes it perfect for pump and dump manipulation schemes. Second, is the fact that the altcoin market is heavily tied to bitcoin (BTC). This makes most altcoins highly volatile and fluctuate in tandem with bitcoin price movements. Without heavy correlation to bitcoin (BTC), most altcoins would have very stable price movements. One altcoin that has proven this is metaverse (ETP).
Metaverse is probably one of the most stable altcoins in the market. Its price is not just stable but has also been rising steadily for quite some time now. This can be linked to the fact that Metaverse is mainly traded against the USD and the Chinese Yuan, and this cushions it from the price fluctuations of Bitcoin (BTC).
The other altcoin that has a good chance of attaining such price stability is Tron (TRX). A number of exchanges have paired Tron with fiat currencies. The latest one of these being Lescovex. After conducting a poll on which cryptos to list, Lescovex has announced that Tron emerged the winner.
This will see it get listed against other cryptos, as well as with 7 fiat pairs. Some of these fiat pairs include the usual, that is the USD and the Euro and a host of others including the Swiss franc and the Swedish krona. This is a big step for Tron, one that in the long run, will play a significant role in stabilizing its price.
A more stable Tron (TRX) will most definitely attract higher levels of adoption in the future. That’s because, Tron (TRX) already has the fundamentals to attract users, and stability would be a welcome bonus in drawing them in. For instance, Tron is fast, low cost and highly scalable. These attributes make it stand out, and give it leverage in the development of real-world applications across industries. These attributes also make it quite useful as a currency for transferring value on the internet. As such, with a more stable price, more merchants would be willing to accept Tron (TRX) as a payment and add to its intrinsic value.
However, these are all long-term goals. In the future, once more people start buying Tron (TRX) in fiat as opposed to using bitcoin, it will be one of the highest valued cryptos in the market. Its long-term value growth will also come from the fact that it has one of the most vibrant communities in crypto. It is the aggressive nature of the Tron community that brought about the Lescovex listing, and it is the one that will deliver even more fiat pairings in the future. It’s definitely a bright future ahead for Tron (TRX). Short-term price fluctuations are just that – short term.