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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Tron (TRX) Struggling to Scale? Down 5.7 Percent

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis tron TRX

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  • Tron (TRX) prices stable at 2.5 cents
  • Critics claim Tron cannot scale and SUN side chains is a cover for that deficiency

By default, Tron claims to be scalable with high throughput. However, critics are back arguing that the SUN Network is a cover for the network’s inability to scale and handle BitTorrent’s requirements. In the meantime, Tron (TRX) prices are ranging and down 5.7 percent from last week’s close.

Tron Price Analysis

Fundamentals

There is Blockchain trilemma, and here developers are struggling between striking a balance between decentralization, security, and scalability. Of the three, Tron supporters are confident that the network is secure and scalable.

Of decentralization, the adoption of DPoS consensus algorithm means 27 super representatives do validate and secure the multi-million-dollar network. Like EOS, Tron architects did prioritize scalability and speed over decentralization. However, there are also concerns because even in a high throughput network, security is not a guarantee.

Besides, a high TPS platform calls into question the level of centralization of which Vitalik caps saying all high TPS network are in essence “centralized piles of thrash.” Regardless, Tron is developing, and as a scalable network, Justin Sun is planning on side-chains in a bid to improve the platform’s capacity.

Even so, is Tron trying to cover the inadequacy of the platform by introducing SUN networks after finally realizing that their “DPOS AWS chain can’t scale, so you add another DPOS chain on top of it?”

When you finally realize your DPOS AWS chain can't scale so you add another DPOS chain on top of it https://t.co/Ps6msDVSvh

— James Spediacci (@jspediacci) April 3, 2019

Here’s what Simon Morris, a former executive of BitTorrent had to say:

“I suspect that what they’re really going to do is they’ll do it on some central server, they’ll wave their hands and say, ‘Oh, it’s a Lightning Network for TRON,’ or something, and pretend it’s TRON-based, but it’s not really TRON-based.”

Candlestick Arrangement

At the time of press, Tron (TRX) is down 5.7 percent and in red territory. By all measures, the coin is underperforming and out of the top-10 by market cap. Nonetheless, candlestick arrangement points to bulls.

As visible from the chart, Tron (TRX) is finding support off the 50 percent Fibonacci retracement level of Dec-Jan high low. Coincidentally, the level is also our previous resistance now support, at 2.5 cents. Moving on and in line with our last TRX/USD trade plan, aggressive traders should wait for a complete reversal of Apr-21 losses.

After that, assuming the reversal is at the back of above average transaction levels, then can initiate buys on dips with targets at 4 cents. Meanwhile, conservative traders should ramp up once TRX edge past Apr-8 highs of 3.1 cents.

Technical Indicators

In the short-term, Apr-21 bear bar anchors our trade plan. With high volumes—5.2 million, bulls need to reverse these losses with equally high volumes for trend continuation as buyers of Mar-23 to Apr-2 flow back.

Chart courtesy of Trading View

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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The highest standards in reporting and publishing
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