TRON asset is considered a good buy, as it has a low price at the moment and its value is expected to increase according to crypto experts.
TRON (TRX) is an ERC-20 token and the native cryptocurrency for the TRON blockchain. Like most altcoins, it was designed to facilitate transactions within the peer-to-peer TRON network but has gained more popularity as a trading instrument and digital currency.
Tron falls in the best buy category because it currently is lowly priced, and the crypto community is largely optimistic about the token’s future price performance. Both technical and fundamental analysis point to an uptrend in TRON prices.
Is TRX A Good Buy In 2021?
If you are planning to buy TRON at the best possible price, then this year may be a good time to buy as the value of TRX is expected to increase in the long-term.
Within weeks of ushering in 2021, TRON broke into a steep bullish momentum that helped TRX tokens break above the $0.1 valuation – for the first time in three years. The last time the ERC-20 token broke into a bull run, it set its all-time high price of $0.3.
There currently is no telling how far up the TRX prices will reach, which makes 2021 a good time to invest in TRON and ride the ongoing price rally.
Currently, TRX currently holds position 18 on the list of cryptocurrencies with the largest market capitalization. At one time, it was considered the “Ethereum Killer” despite the fact that the TRON blockchain was first hosted on Ethereum blockchain before Justin Sun launched the independent TRON peer-to-peer network.
The crypto market is largely optimistic about its continued price growth and relevance because of a number of factors. It, for instance, has a functional use case documented in its whitepaper with a focus on the content creation niche as well as the global entertainment industry.
The TRON crypto and blockchain creator Justin Sun has also been at the forefront of marketing the TRX brand and inspiring confidence in the larger crypto industry. His efforts seem to be finally paying off as the token abandons a malady that afflicted its price action in the last three years.
There, however, is a caveat to buying TRON in 2021. Speculation is rife within the crypto community that it is a matter of time before the SEC files a lawsuit against TRX and Justin Sun.
Several accredited analysts and crypto investors have hinted that TRON and Sun’s conduct may already be under investigation, and SEC could be waiting to finalize the Ripple (XRP) case before making a move on TRON. ChacingWallet CEO, Tom Schultz, has even come forward with a claim that an “SRC Insider” cautioned him against getting involved in TRON.
Buying TRON could be a smart move as it continues to see growing adoption across the industry. This forward-looking cryptocurrency has efficiently established its market niche for years to come.
Is It Smart To Buy TRX?
TRON is by far one of the lowest-priced cryptocurrencies available today. This, plus its soaring popularity and consumer confidence in the token, give it a significant ROI potential.
The popularity and optimism give it value as a potent long-term investment product. The current bull run, on the other hand, guarantees short-term profitability. In turn, both scenarios make TRON (TRX) a smart buy for both the short and long-term-oriented investor.
But these aren’t the only elements that make TRX a smart buy.
The factors listed below make TRON one of the best crypto coins to buy and invest in:
1. Formidable ETH alternative
TRON is referred to as the “Ethereum Killer” not only because it provides crypto users with everything on the Ethereum blockchain. It goes a step further and provides the solution to some of the key challenges limiting Ethereum’s effectiveness.
For instance, TRON is more scalable than Ethereum, it is faster in transaction speed processing, it maintains incredibly low transaction fees, and is also more secure.
2. A growing list of partners
Tron has, in the course of the last three years, attracted several core partners who are already building on or are contemplating building crypto platforms on the TRON network. These include BitTorrent, Samsung, Poloniex, Opera browser, and Swisscom Blockchains. Moreover, thousands of individual and small business DApps are already hosted on the TRON blockchain.
3. Celebrity endorsements
TRON blockchain and tokens have attracted their fair share of celebrity endorsements. These include R’n’B Singer Ne-Yo, rapper Lil Yatchy, and actor Amanda Cerny. Some like Lindsay Lohan have even entered into formal partnerships with TRON to sell NFT tokens on the platform.
What Will TRX Be Worth In 2021?
Experts predict that by June 2021, the value of TRON could reach $0.45. Then TRX’s price might drop to $0.32 in october, to increase to $0.69 in December 2021.
TRX tokens started the year trading at $0.027. Today, the token is up 600%+ up as and has been touted to be well on its path towards breaking the highs set in January 2018. Plus, as we have mentioned hereinabove, the analysis crypto community is largely optimistic that TRON will maintain its bull run in the near future.
But how high can TRON reach by the end of the year?
TRON Price Predictions In 2021:
An analysis report by the cryptocurrency price prediction website Long Forecast suggests that the TRX token will continue with the current price uptrend. It indicates that TRON value will possibly reach its all-time high of $0.40 in July and set a new price record at $0.35 in August before rebalancing and settling at $0.50 by the end of 2021.
Though bullish about TRX toke’s future price performance, Trading Beast isn’t as confident as long forecast when it comes to TRON’s price. By the end of 2021, Trading Beasts expect TRON price to trade around the $0.15 price level.
Read More: TRON Price Analysis For 2021
Will TRX Recover?
Several on-chain metrics suggest that TRON will recover. The continued expansion of the network is a hopeful indicator for price recovery in the near future.
Different technical and fundamental analyses suggest that TRON is well on its way towards reclaiming and possibly outperforming its all-time high price of $0.3. Such reports are informed by steadily growing TRON popularity, the onboarding of more DApps onto the TRON blockchain, and the addition of ore core partners.
TRON has undergone a massive transformation since its all-time high three years ago. The most significant being the world’s first deflation cryptocurrency. During this time, it also morphed from a start-up to one of the leading blockchain operating systems in the world – having drawn in 29+ million platform users across the globe.
These, plus the consumer confidence in the brand, which is currently at its all-time high, point to a promising future.
There, however, is a slight bump that TRON must overcome if it is to guarantee user confidence in the token and fuel the momentum to recovery. It must put behind the SEC investigation speculations. And it can start by winning the class action suit filed in New York against it and ten other crypto companies in Spring 2020.
For close to two years, TRON has been dogged by rumours about undergoing investigations and impending lawsuits by the SEC. The TRON foundation has, however, reacted to some of these claims, vindicating its position in the cryptocurrency industry, and terming these allegations as ‘falsehoods’ and ‘fake news.’
But until the SEC pronounces itself on the matter (which is highly unlikely), TRON wins the New York case, or tables evidence disapproving the leverage trading and unregulated over-limit deposits and withdrawal accusations, these rumours will continue to inhibit the pace at which TRX tokens can recover and exceed their all-time highs.
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- TRX Token price future is generally optimistic.
- Both technical and fundamental analysis point to a promising short and long-term future for the TRON tokens, making it the best buy for both traders and HODLers.
- TRON is expected to end the year trading at $0.30. Its ongoing price rally is expected to continue and possibly break above TRX token’s all-time high price in August.
- Celebrity endorsements, active marketing by TRON founder Justin Sun, strategic partnerships, and the network’s efficiency over Ethereum are touted as the key factors helping fuel its current bull run.
- TRON has the potential to recover its all-time high price and possibly exceed it in the ongoing bull run, but traders and investors alike are reservedly worried about engaging TRON because of the speculation about the eventual clampdown of TRON digital securities by the SEC.