What id the future of Tron TRX Cryptocurrency news
Tron (TRX) is a decentralized blockchain platform that hopes to build a free global entertainment system for digital content based on distributed storage. The idea of distributed storage that would allow easy and cost-effective digital content sharing is one of the most ambitious plans in the crypto space.
Tron was founded in 2017 in Singapore under the auspices of a non-profit organization called the Tron Foundation. At the head of this project is a very representative, but often controversial Justin Sun – former Forbes 30 Under 30 nominee.
Many people wonder what a Tron coin is. The Tron project has a cryptocurrency called TRX, and this crypto has won many fans, often called the “army of TRX.” Even though Tron cryptocurrency is relatively young, TRX has had some ups and downs in its history. This article will consider whether the price of Tron (TRX) will rise in the coming months and years. By this realistic Tron price prediction will try to find out whether the project’s ambition will match the potential of the coin. We suggest reading the best cryptocurrency exchange review for finding a reliable and safe place to buy and sell crypto. Overall, if you consider learning to trade, the following bonuses would be a healthy boost to your account.
The Tron history begins in early 2017. At that time, Justin Sun, CEO of the firm, officially opened a non-profit organization based in Singapore, now known as the Tron Foundation. This organization’s mission was to build the infrastructure for a decentralized Internet and provide a democratic system of managing the new network.
It is noteworthy that Sun is not alien to the FinTech sector. He, for example, is a protege of Alibaba founder Jack Ma. Surprisingly, he graduated from Ma Hupan University and, within a few months, was on Forbes’ “China 30 to 30” and “Asia 30 to 30” lists. By the way, even before the introduction of TRON, Sun has already made a name for himself in the blockchain sector.
For example, Sun was the primary representative of Ripple in China. This position allowed him to contact a network of people he will ever need to bring the Tron concept to life. Also, he founded a very popular application for live broadcasting called Peiwo. Currently, the application has more than 10 million users in China.
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Justin Sun won the dinner with Warren Buffet.
One more impressive fact is that Sun has integrated the TRON in Peiwo only a few months after its acquisition. This integration has helped strengthen the position of TRON in the region. Also, the strategy has significantly expanded the base of active TRON users.
What is Tron (TRX)?
The TRX crypto was designed to change the way content and publications are published. What’s more, it makes it easier to share content with major service providers such as YouTube or Facebook as a content creator, allowing you to have full control over your data, resulting in compensation for your content.
Tron (TRX) coin.
As already mentioned, Tron is a decentralized blockchain platform that focuses on content and entertainment space. The idea behind Tron is to create a peer-to-peer network to bridge the gap between content creators and those who consume it by eliminating the middleman.
The hope is that there will be much less cost to create content that pays off for consumers without such content creation intermediaries. Thus, by removing intermediaries, content creators can charge lower prices while making more money, and content consumers can spend less money while consuming more.
Tron recently announced the creation of a $100 million game fund to be spent over the next three years, also known as Tron Arcade. That gives developers the platform and the money they need to build on Tron. It is mainly used by musicians, artists, and other creative people. Those who are active in social networks or accustomed to gambling will love the Tron and its use.
The platform will run on TRX cryptocurrency, which also helps eliminate intermediaries in the financial sector. Tron’s projected value is that it allows for frictionless payments, but will it increase the value of TRX through the platform’s evolution?
Tron (TRX) ICO Fundraise
The launch of the Tron (TRX) crypto was a big event. In 2017, the ICO fundraised $ 70 million to develop the Tron ecosystem further. During the event, investors received TRX tokens in exchange for BTC or ETH. The market value of TRX tokens at the time of sale was only $0.0019.
TRX tokens are utility tokens issued by the Tron Foundation as the average currency for all tokens based on Tron blockchain. These tokens are located on MainNet, and they facilitate easy transactions throughout the chain.
By 2018, Sun has put Tron in the top ten cryptocurrencies in market capitalization. This success gave platform developers the resources, experience, and motivation to launch their own blockchain. This decision allowed TRON to move the platform from ERC-20 markers located in the Ethereum network to TRX markers using TRON’s own protocol.
Justin Sun always keeps a competitive edge. He hasn’t missed the hype around yield farming and launched his staking pool.
Sun’s announcement.
Example of Tron (TRX) application
To draw an analogy with a real application, consider Netflix, which manages a digital entertainment service by offering demand content. A single organization controls the services centrally. You may need to subscribe to and pay for Netflix services to watch a particular on-demand movie that can be produced by a group of novice enthusiasts who host it on the Netflix platform. From the fee charged by the subscriber, Netflix assumes the cost of placing the film on its platform, and the remaining amount is paid to the producers. Often an intermediary takes the lion’s share.
Tron copies this business model to a public blockchain network and acts as a distributed, decentralized data storage, making it more efficient and cost-effective. Its goal is to eliminate the middleman, as is the case with Netflix in the above example, by allowing anyone to place digital entertainment content in their network based on a blockchain. Global audiences can pay content creators directly for access to content.
In this process, Tron’s open, decentralized platform and distributed storage technology also try to solve an important problem – very few and powerful corporations that control the Internet and its content, making it a level playing field.
Where to Buy Tron (TRX)
The Tron is available on some of the largest cryptocurrency exchanges in the world. One of the easiest ways to get a TRX token is through the Binance and FTX exchange.
Binance is the largest cryptocurrency exchange in the world by market capitalization. Currently, the platform offers various TRX trading pairs, including BTC/TRX and TRX/USD pairs. TRX stablecoin pairs allow you to buy crypto directly without the need to buy BTC or ETH first.
FTX is a new generation cryptocurrency exchange, fast gaining popularity among the community. They introduce a lot of trading pairs and many innovative trading tools. Definitely, it’s worth checking out if you haven’t registered there yet. Read up our FTX exchange review to get welcomed with the opportunities provided by the platform.
Moreover, you can trade TRX pair on Prime XBT exchange, with the leverage up to 200 times. The only downside is that you can’t buy TRX directly there, this is a margin BTC exchange, so Bitcoin is the main underlying asset there. However, you can use our exclusive bonus promo and get +35% bonus to your deposit and boost your trading balance for one month!
Tron (TRX) Price Analysis
Tron (TRX) is trading at $0.029689, with a market capitalization of $2,127,506,258 USD and a circulating supply of 71,659,657,369 TRX. The Tron crypto holds 14th place by market cap with a daily trading volume of $3,231,043,140 USD.
Tron Price $0.029689 USD
Market Rank #14
Market Cap $2,127,506,258 USD
24 Hour Volume $3,231,043,140 USD
Circulating Supply 71,659,657,369 TRX
Total Supply 100,850,743,812 TRX
All-Time High $0.300363 USD(5 Jan 2018)
All-Time Low $0.001091 USD(15 Sep 2017)
Official Website https://tron.network
Let’s consider the TRX analysis with a Tron price history. The ICO was fundraised, and the coin was issued back in December 2017. While the TRX price was $0.002 on the ICO, after the token launch, the price skyrocketed to $0.3 by January 5th. Tron has made a 1500% growth in just a couple of months.
After making a high, Tron felt down to $0.03 in March. However, in May Tron raised to $0.09, setting a lower high. But after that, Tron struggled to conquer these highs and was trading in the range of $0.01 – $0.034. In May 2020, TRX finally bottomed at $0.00686, and since that moment, the price is rising and currently trading at $0.029689 by September 2020.
Since late March, Tron (TRX) is looking very bullish by a daily chart. The exponential moving average ribbon indicator MMAR shows that the bullish phase is still active, and TRX aims for higher targets. However, MACD crossed bearish and relative strength index (RSI) have printed massive bearish divergence. TRX should find support at $0.024 if that price holds, then we can expect an uptrend continuation if the price drops below lower prices are expected. For today Tron (TRX) price prediction aims for higher targets with good support at $0.024.
Tron (TRX) Price Predictions from Prominent Experts
In conditions when the market is so volatile, predicting the price of cryptocurrency is indeed one of the most difficult tasks. Let’s take a look at the predictions and statements from experts regarding Tron (TRX) price prediction to make a clear view of the crypto coin’s future.
CoinSwitch Tron (TRX) Price Prediction for 2020, 2021, 2022, 2025, 2030
CoinSwitch states that Tron (TRX) is one of the fastest-growing cryptocurrencies and has excellent growth potential. Although the Tron may grow, its growth rate may not be high compared to other cryptos. The launch of the Atlas project may boost TRX, and the price may rise. Overall, CoinSwitch is pretty bullish on Tron price prediction and expects that TRX may grow to $0.8 by 2025.
WalletInvestor Tron (TRX) Price Prediction for 2020, 2021, 2023, 2025, 2030
WalletInvestor is bearish on the beginning of 2021 and expects that TRX price may fall to $0.0017. But the same year, closer to December, they predict that price may rise to $0.024. Sad to say, they predict that price will continue to drop through 2022-2025 and may drop to $0.0016. So, according to them, if you’re looking for a cryptocurrency with a good return on investment, TRX can be a bad and risky investment option for one year. The Tron coin price is 0.0293 USD in 2020-09-15, but the current investment may be devalued in the future.
Price prediction from WalletInvestor.
Trading Beasts Tron (TRX) Price Prediction for 2020, 2021, 2023, 2025, 2030
Trading Beasts Tron coin price prediction is quite bullish overall. They expect that by the end of 2020, the TRX price will grow up to $0.032 the least.
Price prediction for the end of 2020 from Trading Beasts.
Forthcoming years Tron should continue its uptrend and grow stable till 2023. The maximum price by 2023 predicted is $0.07 per Tron coin. Based on this prediction, TRX is worth investment.
Coinliker Tron (TRX) Price Prediction for 2020, 2021, 2022, 2025, 2030
Will TRX price rise? Coinliker says yes, the Tron (TRX) price will increase in the long term. They believe that their five-year forecast of TRX at $0.598228 is not as wild as many might think. Increasing daily use cases of TRX will cause a rise in price, which means Tron might be an excellent investment. Coinliker’s unique Tron price prediction algo forecasts that 1 Tron’s price will rise to $0.148926 by 2021. In 3 years, it will grow to $0.396295 and to $0.598228 in 5 years per TRX coin.
TRX price prediction from Coinliker.
What Is The Future Of Tron (TRX)?
While the full potential of blockchain technology has not yet been realized, Tron (TRX) is one of the few projects that has something to offer in the future, and this affects Tron’s (TRX) price prediction. The coming months and years will be dedicated to establishing partnerships and developing the Tron coin in cryptocurrency and traditional technology spaces.
Hence, as the implementation of blockchain technology grows, and Tron’s potential is realized in the content creation space, today TRX price prediction suggests that value should rise overall. Based on the fact that the project is developing and expanding its sphere of influence, we can conclude that TRX is a good investment.
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Frequently Asked Questions
Can I trade TRX Derivatives?
Of course, you can. There are a lot of derivative exchanges offering TRX futures. We suggest choosing from FTX (there’s a discount 5% on trading fees), Prime XBT (+35 % bonus to deposit), or a Binance (a 10% discount on trading fees). For more information, you can check our exchange review article.
How Do You Mine Tron?
Can I mine Tron? Users can’t mine Tron, only staking allowed. Delegated proof-of-stake (DPoS) system is the basis of Tron blockchain, that means that verification of blocks happens through random 27 super representative nodes. Every six hours they are chosen, every three seconds these nodes receive 32 TRX as a reward. It’s possible to participate in the TRX blockchain via running a witness node (blocks proposing and protocol vote), a full node (blocks and transaction broadcast) or a solidity node (full nodes blocks syncs via APIs). Average users can stake TRX by using the ‘Tron Power’ network, the greater the amount of TRX holded the bigger the returns.
Who created Tron?
The Tron blockchain was created by the Tron Foundation, a Singaporean organization currently led by Justin Sun. Before founding the Tron Foundation, Sun founded Peiwo, an app that aspires to become Snapchat in Asia.
What is the Value of Tron?
Using the blockchain and its decentralized smart contract function, Tron’s idea is that users will experience a decentralized Internet, and users can access content without having to access “middlemen” such as Google and Facebook.
How to store my TRX?
Tron Foundation makes it very easy for users to store and use TRX in daily online activities. The foundation recommends TronLink and TronWallet as wallets developed by its official community. You can also store and use TRX in most other widely recognized wallet brands as Ledger or Trezor.
Where can I trade TRX?
Today there are a lot of exchanges who support TRX trading. As we said before FTX, Prime XBT and Binance are top tier for trading TRX. You can make an account on all of them, they have some differences, for more info please read our review.
Where can I use my TRX?
Many decentralized applications (DApps) are built on the Tron blockchain, many of which require the use of native Tronix (TRX) tokens. You can easily exchange TRX for TRC10 tokens, which are used by many Dapps on the Tron blockchain, such as BitTorrent, 888Tron, etc.
What can I do on Tron?
The core of Tron blockchain is a smart contract platform. Just as people can issue smart contract tokens (such as ERC-20, ERC-1155, etc.) on Ethereum, smart contract tokens can also be issued on Tron. There may be two token standards on Tron, namely TRC10 and TRC20. Various TRC10 and TRC20 tokens with various use cases have been issued on Tron.