TradingView
GeorgeOnTV
Oct 31, 2023 12:23 AM

TRON (2023) v BTC (2016) Long

Bitcoin / U.S. dollarBitstamp

Description

Tron (TRX) has been a legacy coin that has held its own and carved out a niche

Most legacy coins have faded away into obscurity as they've been unable to find a usecase or adoption. They may still have high market caps and may still turn things around but as of now many older coins are falling down the ranks. New coins are eating up dominance. Not for Tron. Tron has consistently been raking in fees and holding a relatively very low fee to price ratio (according to tokenterminal).

3m in daily fees v SEED_TVCODER77_ETHBTCDATA:8B FDMC

To put into perspective.. Ethereum has had 3.4m fees in the same 24hr period and has a 200b+ FDMC. This makes Tron look wildly cheap into those isolated terms. According to Tron they'll continue using fees to burn token supply. Essentially share/token buy back program. With SEED_TVCODER77_ETHBTCDATA:1B in yearly fees and SEED_TVCODER77_ETHBTCDATA:8B in FDMC.. in 8yrs time 1 single TRX will be worth SEED_TVCODER77_ETHBTCDATA:8B (all things remaining equal.. they wont).

This creates an interesting opportunity to keep an eye on.

From a TA perspective we have a very bullish structure on TRX

This structure is reminiscent of BTC back in 2015/2016 in the build up to the 2017 bull market. Check video for more details on the technical side of things.
Comments
Leo-btm
nixe job
KABHI_FOREX_TRADING
Great analysis
MyCryptoParadise_Nathan
I wanted to express my gratitude for your analysis.
MartyBoots
Didnt fall much this bear market
GeorgeOnTV
@MartyBoots, thanks marty
CryptoCheck-
Tron is looking strong
GeorgeOnTV
@CryptoCheck-, thanks cc
More