Tron (TRX) Ready For the $5.6 Billion South Korea’s Gaming Industry

Dalmas Ngetich

1 year ago

2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Tron prices slide 8.5 percent in the last week
Roy Liu, the business development manager, signs a deal with two of South Korea’s gaming associations
Transaction volumes low, recovery depends on bull trend resumption

The Tron Foundation may be hard at work, but market dynamics are exerting pressure on TRX. It is down 8.5 percent in the last week despite Roy Liu signing an MoU with two of South Korea’s leading gaming associations.

Tron Price Analysis

Fundamentals

Without a shadow of a doubt, Tron Foundation is ambitious. Evidence of their activity driving towards their objectives of decentralizing the web and correcting what many call the old sins of the World Wide Web is all over the place. We can start with BitTorrent and BTT ICO. Not only was it an overwhelming success but the TRC-10 token valuation is up meaning the Foundation is in green.

That’s not all. Seventy-five days after the announcement of the Tron Arcade, there is movement. Roy Liu, who is the Business Development Manager at Tron, has signed an MoU with two gaming associations–Korea Mobile Game Association (KMGA) and the Korea Blockchain Contents Association (KBCCA) — in South Korea.

Apart from the Kimchi Premium and widespread cryptocurrency adoption, the SE Asia country is the world’s fourth largest gaming market. According to GamesIndustry.biz, the global gaming industry generated $134.9 billion in 2018, a 10.9 percent increase from 200. In South Korea, gamers spent $5.6 billion in 2018 alone. As such, it is evident that Tron wants to get a foothold and be a preferred platform in the ever-expanding gaming market. After all, the objective of Tron Arcade is to:

“Empower developers to create and execute on their ideas, to introduce new games and content into an autonomous ecosystem, and to build a strong community of content and entertainment.”

Candlestick Arrangements

Like yesterday, TRX prices are no better. Despite our positive outlook, the coin is under immense pressure. In the last week, for example, the currency is down 8.5 percent.

With buyers failing to generate momentum and recoup losses, the gap between Stellar and TRX is narrowing. As I write this, the difference stands at $113 million meaning further breakdown could see a possible XLM—TRX flip.

All the same, we maintain a bullish projection, expecting prices to recover and align with pre-BTT ICO bulls set in motion in mid-Dec 2018. From our analysis, any break below 2.3 cents could see TRX prices slide to 2.1 cents. That will automatically take us out of this trade.

However, if prices surge above 3.1 cents snapping to trend and realigning with bulls of Jan 14 and 21, our TRX/USD trade plan will be on course, and prices will easily print and close above 3.1 cents.

Technical Indicators

There is a divergence, volumes are increasing, but prices are dumping. If there is a breakout below 2.3 cents, sellers would be in charge. Confirming this shift of momentum would be high volumes exceeding those of Feb 4—42 million and recent averages of 12 million.

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.

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.