It’s a difficult time for cryptocurrencies, as external and market-related factors put pressure on the market. This is also a perfect opportunity to look for undervalued cryptocurrency gems that could do well once the markets recover.
When looking for hidden gems, one of the critical factors to consider is news that could help increase the value of a cryptocurrency. On this front, Tron presents itself as a cryptocurrency that could drive the recovery in the coming weeks. This follows an announcement by the founder that the Tron project was about to go into an acquisition madness. If history is something to follow, this is a great reason to invest in Tron (TRX).
A look at history
After the cryptocurrency crash of 2018, Tron (TRX) was among the first to recover. This followed Tron’s move to acquire BitTorrent, one of the largest peer-to-peer data sharing networks globally.
Is everything about to repeat itself?
So, Tron is going to do a repetition of what happened after BitTorrent. In his most recent comments on Tron, Justin Sun, the founder of the cryptocurrency, said he is ready to spend $5 billion on acquisitions. He added that the focus will be on platforms that have wide adoption. He said they would target those of centralized finance and decentralized finance.
Sun further added that the worst may have passed through the market and that what will follow is a clean-up process as the market recovers.
Sun’s comments are a big deal and could have several positive implications for Tron (TRX).
First, once the acquisitions start, Tron could experiment with FOMO. This is because, at a time like this, when there is little to do in the market, such news will trigger investors’ expectations that Tron is doing well. Fomo’s potential makes Tron one of the best cryptocurrencies worth keeping an eye on in the coming days.
In addition to FOMO, such acquisitions would significantly increase Tron’s intrinsic value. For context, buying BitTorrent has added significantly to Tron’s intrinsic value, which is reflected in its value in the 2020/21 rally.
With $5 billion, there are many much more significant BitTorrent projects that Tron can buy. This means that going into the next bull run, the intrinsic value of Tron will be much higher than it is now. This factor could see Tron make its current price several times in the cryptocurrency’s next bull run.