Of the top 20 cryptocurrencies in the world as ranked by market cap, only a handful of them are actually in the green this year.
One of them is Tron (TRX +2.10%), a bargain-priced cryptocurrency trading for just $0.25 right now. It's up a modest 12% for the year. That might not sound like much, but it's more than Bitcoin (BTC 2.24%), which is actually down 3% for the year.
Tron's upside potential
Tron is a Layer-1 blockchain, similar to Ethereum (ETH 1.45%). Thanks to strong user growth in recent years, it has been mentioned as a potential Ethereum-killer. It also has a strong presence when it comes to stablecoins, which have become a breakout hit this year for crypto investors.
But here's the thing: Tron is primarily a blockchain for emerging and developing markets. As a result, Tron has little or no name recognition within the U.S. market. Most U.S. investors, if asked about Tron, might reference the movie of the same name.
And that's exactly why Tron could actually make you rich. It could be a bargain-priced crypto gem hiding in plain sight. If Tron ever makes significant headway within the U.S. market, its price could go parabolic.
Image source: Getty Images.
Tron's billionaire founder Justin Sun has been a big-time supporter of President Donald Trump. Close ties with the Trump administration have perhaps helped to paper over at least some of the controversy surrounding Sun's various crypto ventures. All sorts of business possibilities have opened up, including a new publicly traded company on the Nasdaq called (what else?) Tron Inc. (TRON +0.58%).
Before you invest in Tron...
While the Tron blockchain has been around since 2018, the all-time high for Tron is just $0.44. So there is absolutely no historical evidence that Tron will ever hit the $1 mark. Maybe Tron is doomed to remain the crypto version of a penny stock.
CRYPTO: TRX
Key Data Points
But then again, maybe not. In a year in which both Bitcoin and Ethereum are down, Tron -- the crypto, not the movie -- could be worth a closer look.
