Tron (TRX) was first introduced in 2017 and was tagged as one of the cryptocurrencies which may kill-off Ethereum (ETH). Tron is performing extremely well and returned 205% gains for last year for traders and investors.
With the total circulation of coins having surpassed 71 billion, will Tron survive the crypto finance space? With some analysts opining that the cryptocurrency as well as its Tron Network does not have formidable developers to lead the cryptocurrency company to protocols with great new use cases, can Tron survive?
Will Tron be able to cross its all-time high of $0.3004 and hit the $1 price mark? Will Tron be categorized under dead coins or will it bring gains to investors in the next five (5) years?
Contents:
Who Created Tron and When Did It Start Trading?
How Many Tron (TRX) Are In Supply?
Tron: Will it be a Good Investment in 2022?
What Are the Primary Drivers of TRXs Price?
Will Tron Continue to Soar in 2022?
So, Is Tron a Good Investment?
Tron (TRX) in Comparison to Major Cryptocurrencies
Tron (TRX) in Comparison to Other Altcoins
Tron (TRX) Price Predictions in 2022 and Beyond
Tron (TRX) as a cryptocurrency and blockchain technology has caused great division among crypto analysts and experts with regards to whether the digital asset is a good investment or not.
Experts at the Economy Forecast Agency remain bullish as to the future of Tron in a saturated decentralized finance market.
According to the online portal which specializes in long-range financial market forecasts, Tron (TRX) is going to increase substantially in the short-term from its current trading price and close 2022 with a trading price of $0.06.
In the long-term, the financial forecast website believes there will be a bearish season in 2023 in the financial market that will lead to massive drops in the price of all cryptocurrencies. But Tron (TRX) will close the year with a trading price of $0.11.
The experts do not see the crypto asset recovering and will further slide to a price of $0.03 by the end of 2025.
Such bullish sentiment is supported by analyst Anisa Batabyal of Coin Switch.
The analyst feels TRX price is largely dependent on its acceptance ratio which will lead to more adoptions and real-world use cases that will make the crypto asset increase in value. She believes the TRON Network will be patronized by music and publishing startups which will increase its acceptance and improve its rate in terms of new use cases.
The cryptocurrency exchange aggregator platform’s analyst sees 847.87% increment in Tron’s trading price in the long term. This will see the digital asset trade at $0.54 by the end of 2023, close 2024 with a trading price of $0.763 and reach a new price milestone of $1 by the end of 2030.
Trading Beasts sees a great future ahead for Tron. The online portal which provides accurate price predictions for a wide range of digital coins foresees TRX closing 2022 with a maximum price of $0.11.
The bullish momentum will be maintained throughout the years with a maximum price of $0.10 and $0.13 in 2023 and 2024 respectively.
Experts at Trading Beasts predict Tron to have a maximum trading price of at least $0.16 by the end of 2025.
Such positivity is extremely impossible to fathom for one particular analyst at Captain Altcoin.
Torsten Hartmann has opined that Tron is not a good investment and may not have a future in the years to come. He stated that “While its ecosystem has grown, the network is primarily populated with scammy low-quality gambling decentralized applications”.
He believes TRX is going to stay below the trading price of $0.020 for the foreseeable future.
As per the progress Tron as a cryptocurrency and blockchain technology (Tron Network) has made, the cryptocurrency has a great potential in the market.
From running on Ethereum’s network in its inception to finally moving to its own network which scales much faster than most of the Blockchain Technologies developed by other altcoins, Tron has come a long way and will definitely command a higher share of the decentralized finance market.
With $6.2 billion locked in Tron Decentralized Finance (DeFi) and $1.43 billion registered as trade volume just in March 2021, this indicates the extensive interest and commitment towards the crypto trading asset by traders and investors.
With an answer to the scalability issue associated with blockchain and cryptocurrencies, Tron’s network processes 2000 transactions per second (TPS).
This shows evidence of the potential the cryptocurrency and its network have in the market. Therefore, Tron (TRX) is a digital asset you can consider having on your portfolio of investments.
Would you consider investing in Tron?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Tron: What Is It?
Tron is a blockchain-based decentralized operating system that aims to build a global digital content entertainment system that is free.
It comes with a distributed storage technology which allows a cost-effective and easy way of sharing digital content.
Tron has created a third-generation blockchain technology that is at the forefront of a digital revolution which aims to take the current Web 2.0 to Web 3.0.
With competition from other altcoins primarily Ethereum (ETH) and Cardano (ADA) as to the blockchain which will dominate decentralized finance (DeFi) for the next decade, Tron has created a platform that has three (3) sections and is divided into storage layer, core layer and application layer.
The Storage layer was basically designed to serve the function of distributing storage protocol which consists of block and state storage. This is to help meet the need for diversified data storage.
The Core layer was basically designed to serve the function of supporting the modules of smart contracts, account management and consensus.
The Application layer was basically designed to serve the function of supporting the creation and issuance of tokens as well as the release of decentralized applications (DAPPS) and protocols.
The cryptocurrency which is used on the TRON Network is Tronix and it is denoted by the ticker symbol, TRX.
Tronix can primarily be used by the consumers of content as an option of payment for content they want to access and can be purchased on major cryptocurrency exchanges.
Who Created Tron and When Did It Start Trading?
Justin Sun is the creator of TRON platform and created this cryptocurrency company in 2017.
Justin Sun is a technology entrepreneur. Aside from being the founder of TRON, he is also the current Chief Executive Officer of Rainberry Incorporation (formerly BitTorrent, Incorporation) as well as founder and CEO of Peiwo (social media application).
Born on 30th July, 1990, he once worked for Ripple (XRP), where he served as the company’s Chief Representative in the Greater China area.
Sun is a staunch crypto enthusiast and has been involved in providing funds for the acquisition of several digital companies such as Poloniex (a cryptocurrency exchange).
Additionally, he is known for patronizing auctions and making bids for digital assets particularly at Christie’s New York.
He holds a Bachelor of Arts Degree in History from Peking University and a Master of Arts in East Asia Studies from the University of Pennsylvania.
Through an Initial Coin Offering (ICO) in 2017, $70 million was raised by the TRON Foundation before China banned the trade of cryptocurrencies.
Initially, TRON operated on Ethereum’s 1.0 network as an ERC-20 token before moving to the TRON Network in 2018.
TRON started trading through its novel token “Tronix” (TRX) on September 4, 2017 at a trading price of $0.001091.
Check Out: What Are The Benefits of TRON Trading?
Why Was Tron Created?
The creation of TRON like other cryptocurrencies and networks is to create a decentralized world that covers every sector and not primarily the traditional financial institutions such as banks, clearinghouses and insurance companies.
TRON aims to decentralize the whole web and this means cut all forms of middle men across all sectors.
One significant advantage of TRON is the empowerment of artists and creators of content globally where users who create and share content can get paid.
TRON wants to rewire infrastructure so that internet users, primarily creators, will have an equal say as to how their content will be remunerated as well as how their data could be shared ─ an infrastructure which has so far been centralized (in the hands of tech giants).
A great example of TRON’s purpose can be attributed to streaming services which have made enormous gains due to the pandemic where social distancing is at its core and many people find themselves at home.
Such services allow film creators to upload their creation online for a fee. When internet users subscribe to the film, the middleman (streaming company) gets a percentage of the sale which is much bigger than the amount creators receive.
TRON comes in to allow internet users to pay creators any amount they want if they liked the film (creation) through the creators’ wallet through decentralized applications on the TRON Network.
This will cut off the streaming services and allow the creators to see real returns on their investments.
Where Was It Created?
Tron Foundation through founder Justin Sun founded TRON in Singapore as a non-profit organization.
It comprises in-house development who are extremely dedicated. Among them are several global stalwarts of technology.
How Many Tron (TRX) Are In Supply?
As at the time of writing, TRON had a circulating supply of 101.84B TRX on a total supply of 101,835,752,583 TRX.
Tron: Will it be a Good Investment In 2022?
In order to understand whether an asset (crypto, stock, metal, commodity or bond) will be a good investment for a particular year, you must do a thorough assessment of the asset’s performance in the previous year.
Tron could be a good investment in 2022 and could reach an average price of $0.06839, is the price forecast of Coin Switch.
Tron started the 1st day of January, 2020 with a trading price of $0.0130 and closed the year with $0.0269 as its price on December 31, as per data retrieved from Coin Telegraph and Yahoo Finance.
The novel token of the Tron Network was trading at $0.0272 on the 1st day of January 2021 and closed the month with a price of $0.0330 on January 31.
The digital asset which aims to decentralize the web traded at $0.0332 on the 1st day of February and ended the month with a trading price of $0.0478 on February 28.
On 1st March, 2021, the digital coin had $0.0469 as its price and as at the time of writing this feature article, had a price of $0.05 (trading in a price range of $0.04905-$0.05184 in the last 24 hours) with a market capitalization of $3.58 billion.
In March, the price of TRON increased by 8.54%, while its accomplishments in the 1-year time frame amount to 423.53%.
In April and September, 2021, Tron reached $0.10.
Such insignificant change in price is why Wallet Investor does not see a fall or drop in the TRX in the short term. The online portal for good quality technical forecasts for cryptocurrency rates sees Tron as a profitable investment.
Wallet Investor has pegged TRXs long-term earning potential at 83.33% in one (1) year with an increment in price from its current price to $0.11.
Arthur Webb of Ripple Coin News feels extensive support from Tron’s Community coupled with the partnerships with cryptocurrency exchanges and well-established businesses makes it a good investment in 2022 and in the long-term.
The analyst who writes for the online portal which provides fresh news and content regarding cryptocurrency markets and latest developments in the world of blockchain technology believes TRX will reach $1 in the coming years.
What Are The Primary Drivers Of TRXs Price?
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Tron (TRX), like all surviving cryptocurrencies thrive extensively on an enormous fan base, forces of demand and supply, spike in the demand for parent crypto and gold of cryptocurrencies (BTC), overall positive market sentiment for cryptocurrencies and decentralized finance as well as its unique features in terms of scalability to drive its price.
In terms of fan base and community, Bitcoin (BTC) has Elon Musk, Dogecoin (DOGE) has Snoop Dogg, Gene Simmons and Mike Cuban and Tron (TRX) has actress and musical artist Lindsay Lohan.
The actress has a word of praise for founder Justin Sun for such a great innovation and loved every bit of the decentralized web.
Celebrities have an enormous fan base that stretches into millions of people. Such positive feedback from individuals with massive following normally sparks an interest in an otherwise relatively unknown or less popular crypto asset when compared to BTC and ETH.
This results in new use cases and impacts positively on the demand of the asset and drives the price of Tron to new highs in the process.
Such hype from well-established stars can increase the price of Tron (TRX) for the foreseeable where it will have a trading price of $0.763, is the forecast of Crypto News.
Aside from the celebrity hype, the founder of the cryptocurrency network (Justin Sun) is a crypto enthusiast.
Justin Sun enjoys not only being a part of the community but updates Tron (TRX) fans about the latest developments on the network.
Through the social media network (Twitter), he outlines the various plans and roadmaps which commits existing traders and investors to the asset and sparks increased interest in others (novice investors) who are a bit sceptical about the potential of the asset in such a saturated market.
Evidently, on Friday, March 12, 2021, Sun posted a tweet that instructed fans and sceptics to check out the Tron Monthly Report of February, 2021.
Excerpts of the tweet are, “TRON Global #DeFi Hackathon Developer Contest was successfully launched. The total value locked in TRON Decentralized Finance (DeFi) has exceeded $6.2 billion. The total circulation of TRC 20 has exceeded $14.2 billion. The circulation amount of coins has exceeded 16.7 billion”.
This sparked a debate as to what was new for TRON in terms of decentralized applications and the different protocols which will soon be mounted on the platform in the near future.
Such heat on social media goes a long way to impact the price of the asset since debates and arguments lead to anticipation which is positive news for the digital asset.
According to Prime XBT, “Providing updates to TRX army (fans) allows them to know where the project is heading. This means that as more protocols are added, the project will be expanding”.
A positive market sentiment for cryptocurrencies goes a long way to drive the price of Tron.
As a result of the crypto boom in 2021, particularly in the month of March, where Bitcoin attained a high price of $61,330, investors decided to find other crypto assets which have a potential in the market since they were priced out of the price of BTC.
Such interest has led to an increase in the trade volume of Tron and other altcoins.
Evidently, as per data retrieved from CoinTelegraph, Tron closed 2020 with a trade volume of $757,837 on December 31.
This volume increased to $5,413,862 on January 31, 2021. At the peak of the cryptocurrency rally in February, Tron reached trade volumes of $23,205,688 (8th February), $18,900,699 (11th February), $20,233,602 (14th February) and, $18,206,372 (19th February).
Financial analyst and commentator Charles Schwab believes trade volume serves as a great measure of investor sentiment. “Trade volume can help confirm price trends that have already formed or serve as a warning for a potential trend reversal”.
Such trade volumes meant that there was great investor interest in the cryptocurrency which saw the crypto asset end the month of February on a high with a relatively better trading price of $0.0478 considering it started the year trading at $0.0272.
Consistency in TRXs volume responding to the crypto boom has enlightened CoinTaker to see a bright future ahead in the decentralized finance space. The crypto news website sees TRX trading at $0.55 at the end of the year and maintaining the same consistency in the next five (5) years.
Scalability is another major factor which drives Tron’s price substantially in terms of usage.
The conclusion of an assessment posits that a change is needed to help the businesses run in a smooth and efficient manner. Their choice of business solutions is blockchain technology.
Unfortunately, several tests run by the organizations led to the utmost realization that blockchain has issues such as speed of processing transactions which has ultimately slowed its adoption by mainstream companies for its business solutions.
Tron seems to have found a solution to the problem of scalability on their Network.
According to data sourced from YCharts and Bit Info Charts, Tron has zero transaction fees and can conduct approximately 2,000 transactions per second (TPS).
Ethereum’s 1.0 supports only 15 to 30 transactions per second (TPS), Bitcoin (BTC) with its longstanding SHA-256 algorithm supports 4.6 transactions per second (TPS), Litecoin (LTC) with its SCRYPT algorithm supports 56 transactions per second (TPS), Cardano (ADA) processes 1,000 transactions per second (TPS), Binance (BNB) supports 300 transactions per second (TPS) and Bitcoin Cash (BCH) supports 116 transactions per second (TPS).
Being able to scale faster has led to Tron (TRX) not charging any transaction fees. You can send $1,000,000 to another person using Tron’s network and the cost is $0.
This has led to a spike in patronage which has led to investments and it has resulted in a bullish momentum of the asset’s price.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Will Tron Continue To Soar In 2022?
For an asset to soar, partnerships, acquisitions and integrations is extremely important. Tron over the course of its three and half years of existence has liaison with great companies which has brought great exposure to the cryptocurrency.
Tron could surge in 2021 because the price has been able to climb above a key resistance level of $0.038 in February.
Alex Paulson of Crypto Rating has opined that “TRX will finally get onto the wagon of bullishness and will see a slight increase in price to $0.056 in the short-term.
One of such strategic partnerships is Coin Payments. Coin Payments is the first payment processor to support altcoins and it is a leading online payment processor for cryptocurrencies.
With 2.2 million merchants across 182 countries, integrating TRX on its platform gives the asset reach which improves its potential in terms of adoption by other well-established companies which positively reflects in the digital currency’s price.
In a tweet, the payment processing company posted, “We are pleased to announce the addition of #TRON (TRX) to our platform. Any of our 2.2 million+ businesses and users can now accept payments in $TRX through any of our integrations for all the major e-commerce platforms! #TRX @tronfoundation @justinsuntron”
Another of such successful partnerships is TRX being supported by Opera browsers. Opera is among the top five web browsers in the world and has over 320 million users.
Opera wants to focus on artificial intelligence technology and discoverability applications. The web browser’s support of the cryptocurrency is a direct result of the Ledger Capital partnership.
Speaking on this partnership, Executive Vice President and Head of Browsers, Krystian Kolondra said “TRON is a popular, quickly developing blockchain with a swiftly growing decentralization application (DAPP) ecosystem. We are extremely happy to open our browser to the cryptocurrency. By opening products to multiple blockchains, we are accelerating the mainstream adoption of Web 3.0”.
With more than 320 million people getting a chance to use decentralization applications on the TRON network, new use cases are going to go through the roof, trust for the cryptocurrency and its technology among regular people will soar in the process which makes adoption easy.
With more adoptions comes an increase in demand which makes use of the law of demand and supply and reflects positively on the spike in price and rewards TRX holders with great returns on their investments.
During the peak periods of the pandemic where the market was crashing before the eyes of traders and investors, founder Justin Sun remained positive.
He got into another strategic partnership with South Korean consumer electronics maker, Samsung.
In April, 2020, Samsung gave TRON a dedicated section in its Galaxy Store which features several applications which were developed through the blockchain of Tron.
This means that users with huge purchasing power in Europe and the United States of America have the ability to use their smartphones to experience the next generation of blockchain-based applications through the Tron network.
After completing another successful partnership, founder Justin Sun weighed in with the words, “We really enjoyed working with Samsung on the blockchain level integration. Now with Samsung Galaxy Store, we are taking our collaboration to the next level by integrating both ecosystems together”.
Statistically, as per data retrieved from Unity Distribution Portal, 400 million users visit the Samsung Galaxy Store monthly and download more than 450 million apps in 188 countries.
Some of the applications thrive on paid content and as well include in-app purchases in 120 countries. There are more than 24 million monthly active users of Samsung Galaxy Store in the United States (a country with huge purchasing power and a thirst for investments).
With such numbers using applications that were built on TRX Blockchain, the digital asset gains a competitive advantage over competing altcoins since it is the first blockchain project to have a dedicated section on one of the largest application stores in the world.
Peer-to-peer file sharing service BitTorrent was acquired by the Tron Foundation led by its founder in 2018 for a rumoured $140 million and at the time had 170 million active users.
In October 2020, BitTorrent Network reached two (2) billion downloads, as per an article on Coin Telegraph.
After its purchase in 2018, the BitTorrent Network accounted for 28% of all upstream and 3% of all downstream traffic across the internet.
Founder, Sun, made it known that more downloads will soon hit the network since his team of developers looks forward to fulfilling its mission of bringing several improvements to the protocol.
Additionally, it looks forward to introducing new use cases which includes decentralized file storage and live streaming products.
Such an acquisition means that the determination of TRXs price would not be solely dependent on the forces of demand and supply and its fanbase.
Real-world usage, quality acquisitions and decentralized applications will maintain the bullishness of the price and cause a rally in the not-so-distant future.
Poloniex is a cryptocurrency exchange which was acquired by a group of investors which includes Tron Foundation head Justin Sun in 2019.
In April, 2020, an Initial Exchange Offering (IEO) went on which was to launch a new platform called “Launch Base” on Poloniex.
Launch Base is to serve as a springboard which “helps quality blockchain projects grow and further develop their ecosystem”.
Tron’s role in this project will be the promotion of user adoption through professional consultation and token distribution.
It should be noted that the novel token “TRX” will be the only eligible cryptocurrency for purchasing new tokens on Launch Base and the first company which is scheduled for a sale will be the Tron-based stablecoin lending platform, JUST.
As at the time of writing, Poloniex had a trade volume of $83,353,936, 316 coins and 475 pairs on its exchange in the last 24 hours as per information retrieved from CoinGecko.
With TRX facilitating all the transactions on the modernized platform, the 100 billion coin supply will soon be met.
Once this has been met, if the development teams do not add more to make it infinite and it remains a maximum cap, then supply and demand will set in.
As more people demand TRX tokens, prices will shoot up as investors will be willing to pay the price being asked by sellers and TRX prices will go up in the process.
With such partnerships, acquisitions and integrations, Tron could bounce to $0.06 at the end of 2021, according to Lorenzo Stroe of FXStreet.
Don't Miss: Tron Price Predictions
So, Is Tron A Good Investment?
Tron is a good investment in the long term according to Crypto Trading. Experts on the cryptocurrency rating website see a 240% rise in the coin’s current trading price of $0.098 and maintain its bullish run to the end of 2022.
Tron (TRX) is traded on high volume cryptocurrency exchanges which have daily trade volumes of millions and billions of dollars. Some of these exchanges are Binance, HBTC, ZG.com, OKEx, Coin Switch, eToro, Kraken, Huobi, Gate.io, Bitit, Coin Bene, Cex.io and KuCoin.
Among these exchanges, Kraken, Binance and Huobi featured strongly in a report by Statista (statistical portal which reports market and consumer data).
The assets being traded on these cryptocurrency exchanges includes Tron (TRX) and contributes to its $1.43 billion daily trade volume recorded in the last 24 hours.
Tron continues to develop relationships abroad and in the fall of 2020, partnered with leading cryptocurrency platform, ZelaaPayAE.
With this, ZelaaPayAE has become a dual chain platform which unleashes the full power of Tron network as well as Ethereum’s.
ZelaaPayAE has 1 million users in the Gulf region.
A few years back, up and coming developers would have opted for only Ethereum in terms of blockchain solutions.
With the efficiency and effectiveness of Tron Network particularly its ability to scale 2,000 transactions per second has made it “equal” to Ethereum’s network and with time may become the blockchain of choice for up and coming developers.
Digital Coin Price believes successful acquisitions, integrations and high volume cryptocurrency exchange partnerships will likely see the crypto coin end 2022 with a trading price of $0.097.
With so much competition in the space of Decentralized Finance, Tron is a good investment and has a great future in the market.
As per the predictions of experts, Tron is an asset you should consider having on your portfolio.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Tron Price Predictions In 2022 And Beyond
Digital Coin Price forecasts the digital coin to trade at $0.097 at the end of 2022.
The rally will extend into the New Year and end 2023 with a trading price of $0.1125. The trend will follow with the prices of $0.14 (2024), $0.14 (2025), $0.13 (2026), $0.13 (2027) and $0.27 (2028).
According to analyst Alex Paulson who writes for Crypto-Rating.com, “Tron will double in value once again and hit the year’s high of $0.18 in 2023”.
The analyst further opined that investing in the crypto asset in the long term is great because it is destined for 1073% price increase in 2024 where it will be trading for a coin at $0.33.
The cryptocurrency rating website analyst added that there is going to be a 2155% increase in the current price of Tron which will give it a trading price of $0.64 by the end of 2025 and maintain its bullish momentum beyond that year.
Coin Arbitrage Bot has predicted $0.055 as the price of TRX at the end of 2021.
According to Tom Tragett of Libertex, the patronage of Tron by publishing and music startups will lead the coin to trade between $0.55 and $0.75.
How Do I Invest In Tron?
After finding all the necessary information about Tron (TRX), if you would like to invest in the cryptocurrency for the foreseeable future with the hope of making enormous gains with the security of your account in check, Trading Education would like to recommend eToro as the brokerage for your investments.
To make a purchase of your first TRON, kindly follow the steps below.
Step one is to SIGN UP,
Step two is to add DETAILS of your account (name, email, phone number and address),
Step three is to VERIFY the information provided,
Step four is to NAVIGATE the TRON PAGE on eToro and you are on your way to purchasing your first TRX which will be processed and added to your account.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Is Tron (TRX) A Buy?
Tron is a buy according to several experts on Digital Coin Price, Crypto Rating and Coin Switch who forecasts the cryptocurrency being powered by its network with many decentralized applications will take it across the $1 price milestone.
When you currently compare the price of TRX to other cryptocurrencies such as ETH, BTC, BCH, LTC or DASH, Tron is definitely on the low side.
This is a figure which fits the investment goals of novice investors who are expecting growth in the long-term.
Should I Invest In Tron?
Tron promises long term growth for investors and if all the necessary upgrades (Star Trek in 2023 and Eternity in 2025) are completed in a timely manner, growth investors may experience gains they never thought possible.
Tron’s blockchain can be tagged as third or fourth generation because it is fast and scalable. The Tron Foundation through its applications and protocols offer a number of interesting decentralized solutions for the gaming and gambling industries.
Additionally, it reaches more than 2.2 million through its integration on Coin Payments, 450 million users through its partnership with Samsung which has made decentralized applications (DAPPS) created on Tron’s blockchain available on its dedicated section of the Galaxy Store and over 350 million users on Opera web browser.
With decentralized lending protocol (JustLend) recording $105.47 million in trade volume within the last 24 hours through its service where users can borrow, lend, deposit assets and earn interests, TRON will sooner rather than later become the biggest threat to Ethereum’s reign as the “king” of the decentralized finance space.
With other decentralized applications such as JUST, Sun, EFT, UME, Golden Eggs and UME recording impressive trade volumes, TRX could poised for a run to the $1 mark.
Is Tron A Scam?
No, Tron (TRX) is not a scam. The digital asset since its inception has experienced accusations that were later proven to be unfounded.
There are several developers in the current decentralized world who felt Justin Sun (founder) plagiarized protocols of other cryptocurrencies.
In a professional manner, Justin Sun who is not only the founder but a crypto enthusiast resolved the issue as baseless rumours which held no water.
Some of the reasons why Tron (TRX) is not a scam can be attributed to the Foundation’s compliance with regulations.
Evidently, in 2019, TRON removed decentralized applications (DAPPS) which was focused on gambling on its platform for the Japanese markets.
It is also supervised by the Company Law of Singapore.
Founder, Justin Sun has also been seen in the company of billionaires Jack Ma of Alibaba and Warren Buffett of Berkshire Hathaway Incorporation.
These are highly respected investors who would not associate with a scam, so TRON is NOT a SCAM.
Does TRON Have A Future?
There are several experts who have opined that the cryptocurrency and its network will head into extinction mode in the near future.
As a trader, investor and market researcher, the numbers behind TRON are too impressive for it to go bust.
Aside from that, the foundation does everything it can to promote it for real-world usage and adoption.
Considering it makes constant upgrades (fork) to transform it to a fourth-generation blockchain, TRON has too many protocols and applications embedded on its platform with hundreds in the pipeline for it to fail.
Because of these, TRON definitely has a future and could be trading at a far better price than it is now when all TRX coins are mined.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Tron (TRX) In Comparison To Major Cryptocurrencies
Tron has faced a lot of heat on social media platform (Twitter) especially from founders of other crypto networks with regards to the genuineness of its blockchain and its new logo design of its acquisition, BitTorrent.
Despite all this, the Tron Foundation through its founder has maintained the price of the asset and through its adoption and real-world usage; the digital coin’s performance against major coins so far has been incredible.
As large cap crypto assets,
Bitcoin Cash (BCH) has a market capitalization of $7.3 billion with an average transaction fee of $0.0028.
Litecoin (LTC) has a market capitalization of $9.7 billion with an average transaction fee of $0.5.
Ethereum (ETH) has a market capitalization of $399 billion with an average transaction fee of $18.01.
Bitcoin (BTC) has a market capitalization of $828 billion with an average transaction fee of $22.13.
On the other hand, Tron (TRX) has performed relatively well with a market capitalization of $6.9 billion with an average transaction fee of $0.
Read Also: What Is the Best Cryptocurrency to Invest In?
Tron (TRX) In Comparison To Other Altcoins
Dash (DASH) has a market capitalization of $1.5 billion with an average transaction fee which ranges between $0.2 and $0.3.
Dogecoin (DOGE) has a market capitalization of $22.9 billion with an average transaction fee of $0.15.
Stellar Lumens (XLM) has a market capitalization of $7.1 billion with an average transaction fee of $0.000004.
Cardano (ADA) has a market capitalization of 43.4 billion with an average transaction fee of $0.18.
Ripple (XRP) hasa market capitalization of $37.9 billion with an average transaction fee of 1XRP (0.7972).
This means that overall; Tron (TRX) has better transaction fees than parent crypto, Bitcoin as well as the other altcoins.
Tron (TRX) is trading at upside territory having gained 3.64% in price with no sign of slowing down.
Novice and expert investors thrive on its scalability and $0 transaction fee to provide effective business solutions to their clients, a great feature which is lacking in BTC, BCH, ETH and LTC.
With more decentralized applications and upgrades to hit TRON in the coming years, a substantial increase in price will lead to an increase in market capitalization and daily volume.
Don't Miss: 7 Altcoins To Watch This Month
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.