ambcrypto.com
Tron has been in the company of the bear for a long time, something which the Tron Foundation expected to change with the launch of Tether [USDT] stablecoin on Tron blockchain. However, that did not happen. Tron’s Founder and CEO, Justin Sun, found a reason to cheer the community as Tron managed to occupy 50 million out of the total 2.5 billion USDT in supply, while also announcing his goals for the upcoming quarter.
Source: Twitter
The announcement that Tron was behind 2% of the existing USDT supply prompted the CEO to set a goal to surpass Ethereum and achieve 10% of the total USDT supply. He also claimed that Tron will achieve 50% of USDT by 2019. However, this news was not well received by Tron holders.
Many holders expressed concerns about the falling price of the token and its volume. Twitter user @7_bitcoins commented,
“Maybe investors need some price improvement instead of words and promises.”
The user also reminded Sun that competition with Ethereum will not help Tron. Twitter user @matthewjura said,
“Looking at the developments and amount of jobs for ethereum devs will not make it easy for Tron..”
According to CMC charts, over the past three months, Tron peaked in value at $0.0313 with a market cap of $2.08 billion on April 8, following which it began falling.
Source: CoinMarketCap
The USDT launch on April 18 did not help the cause either, as the token was valued at $0.0270 with a market cap of $1.80 billion. At press time, Tron was valued at $0.0251 with a market cap of $1.68 billion. Over the past seven days, TRX plunged by 7.10%. However, it managed to register minimal growth of 1.05% over the past day. It registered a growth of 0.54% within an hour with a 24-hour trading volume of the coin being $341.37 million.