Is Tron Worth Buying In 2023?

Wondering if Tron is worth investing this year? Use the guide below and get your question answered!

Last Updated December 20th 2022

10 Min Read

Tron (TRX) is one of the fastest-growing cryptocurrencies right now. The Tron platform was launched back in 2017 as an ERC-20 token and has since established itself as a promising player in the crypto industry. A big part of Tron’s success is because of its revolutionary idea that is a bit different from what we are used to with most mainstream cryptocurrencies.

Tron is not a cryptocurrency per se. Instead, it is a distributed platform for decentralized digital content. Its native cryptocurrency is known as Tronix or simply Tron Coin and is what we will be mostly talking about here.

Given Tron’s different approach to blockchain technology, many investors have lined up to be part of what could be the most memorable disruption in the blockchain industry. Tron’s practicality in real life makes it an obvious choice when it comes to choosing young but promising cryptocurrencies.

But is it worth buying in 2023? Is it too late to invest in Tron? What is its current market standing?

Read ahead, we will be answering these and many more questions about Tron investment in this guide.

Tron Overview: What Is Tron And How Is It Different?

Tron is a decentralized platform that is based on blockchain technology. The platform acts as a decentralized digital content system that can be accessed and used by anyone globally for free.

Tron allows digital content creators to share their content with consumers in an easy and cost-effective manner. The platform was launched in September 2017 by Tron Foundation, a Singapore-based organization headed by Justin Sun. It is now developed by a dedicated team of technology stalwarts who have many years of experience with Blockchain technology.

Tron acts very much like Bitcoin or any other cryptocurrency. However, its approach to decentralization is a bit different. While Bitcoin tries to eliminate financial middlemen like banks, Tron wants to eliminate content middlemen like YouTube and Netflix.

Without the middlemen, consumers will be able to get their content directly from the creators and avoid paying hefty fees. The creators, on the other hand, will be able to make more money since there are no middlemen to take a cut of their full payment, and they will also be able to expose their content to more people.

Like we mentioned above, Tron itself is not cryptocurrency. It is, however, powered by its native coin known as Tronix (TRX).

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

What Is Tronix?

Tronix (TRX) or Tron Coin is the native cryptocurrency that powers the Tron platform. This is what consumers on Tron use to pay for the content they need. If they need to, content creators can then either use their Tron Coins to pay for services or exchange them for other cryptocurrencies.

If you want to buy TRX, you can easily do so in popular exchanges like Binance. You can’t, however, buy Tronix directly using fiat currencies. Instead, you exchange it for other cryptocurrencies like Bitcoin and Ethereum.

After buying, you can then store it in a cryptocurrency wallet that is based on the Ethereum blockchain, such as MyEtherWallet.

Although the Tronix cryptocurrency is still very young in the market, it has achieved many milestones over the last few years. It is now ranked 21st by market cap according to data from CoinMarketCap.

Before buying Tron, you probably want to know if it has made any progress over the years. Let’s quickly look at what the coin has achieved so far.

What Has Tron Achieved So Far?

As the world’s largest decentralized network for not only entertainment but also gaming, trading and file sharing, Tron has hit many milestones over the years. This range from acquisitions, integrations and high-profile partnerships.

Tron broke many records over the course of 2020 and is went higher in 2021. The network has so far expanded and onboarded millions of new users. In addition, it has also opened up to new verticals, including the now popular decentralized finance (DeFi).

Just in the first months of 2021, Tron recorded more than 1.5 billion transactions with close to 17 million wallets created. There were more than 100,000 daily active users taking advantage of the over 1,400 dApps hosted on the Tron Network.

This results in a daily transaction volume of more than $12 million. According to the Founder and CEO Justin Sun, Tron has made it even easier for people to integrate blockchain technology into their everyday life.

The network has achieved this by acquiring popular platforms such as Steemit, which makes it easy to bring the benefits and efficiency of crypto to a global audience. It has also partnered with companies like Samsung, enabling it to expose its technology to even more people.

Tron has also launched its own exchange known as JustSwap, which helps to facilitate trustless and easier trading of TRC20 assets, just like Uniswap. When it was launched, Justswap was so popular that it facilitated more than $100 million of trades in its first 24 hours.

Tron also launched a borrow lending platform in December 2020 known as JustLend. This was after the company had partnered with Huawei to add its BitTorrent app to Huawei’s AppGallery store. This helped expose the file-sharing network to more than 3 billion users.

From these achievements and more than we have not mentioned, it is clear that Tron has brought decentralization closer to the people who didn’t even think they needed it.

2021 wasn't also been dull for the Tron network. The company has continued to forge prestigious partnerships, which includes the addition of $6.4 billion Tether to the Tron Blockchain. Tron aims to focus on growing and scaling its DeFi infrastructure in 2023. It will also work to expand the functionalities of its storage ecosystem, the BitTorrent File System (BTFS).

These and other achievements bring a plethora of good reasons to buy Tron in 2023. However, to ensure that you are not still on the fence by the end of this guide, let’s look at more reasons why buying Tron in 2023 might be a good idea.

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Why Should You Invest In Tron In 2023?

We have already seen a number of good reasons why Tron could be a stable investment this year. Tron will no doubt see more mainstream adoption than most of the more established cryptocurrency platforms out there.

Below are more good reasons why you should buy Tron in 2023.

The entertainment market has high future prospects. This market encompasses many areas, including social networks, video streaming and hosting, gaming, casino, and so far. Since Tron is all of these things, it stands to gain a lot and potentially make great returns for its investors.
The idea of decentralized content in itself is very appealing. More consumers will opt for Tron since they will be able to access more content for less. Content creators will also be able to sell more content and receive their full payment. This will help widen Tron’s user base and make it more valuable.
The Tron coin is created by a strong team of developers who have plenty of experience in blockchain technology. Some of the most talented figures are working to make Tron not only more lucrative for investors but also more efficient for its users.
Compared to other cryptocurrencies like Bitcoin, Tron can process up to 2000 transactions per second. This makes it an ideal choice for users who are looking for speed and efficiency.

These are all very good reasons to buy Tron. But will the price keep rising in 2023?

Let’s look at what experts are saying about the value of Tron in 2023.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

What Will Tron Be Worth In 2023?

A number of experts have come out to predict the value of Tron in 2023. Previously, most price analysts such as Wallet Investor believed that Tron would fall at the start of 2021.

However, the Tron coin was on an uptrend and is quickly becoming one of the most valuable coins to invest in, in 2021. Digital Coin Price previously gave a low prediction for Tron in 2021. The site has since updated its forecasts and now believes that Tron will be worth around $0.09 by the end of 2023.

Tron’s price has grown significantly since November 2020 against the expectations of most price analysts. So it is possible that most of these predictions are a bit bearish. And Although Digital Coin Price has been frequently revising its predictions to keep up with the parabolic growth, we still think they are underwhelming.

Long Forecast paints a less bright outlook for Tron in 2023. The site expects Tron to end the year at $0.056.

Wallet Investor is the most bullish. The site predicts Tron hitting the $0.138 by the very end of 2023, while remaining in between $0.06-$0.11 range for the better part of 2023.

This is a good sign, and given Wallet Investor’s history of predictions, the price may go higher. Wallet Investor was also previously bearish and is beginning to come to terms with the fact that Tron is on an uptrend.

Generally, the price of Tron may end 2023 higher. There are already a lot of strategies in place to ensure that the coin doesn’t shrink with the market. The community is also expanding, and soon Tron will be among the most promising cryptocurrencies.

Read Also: Could Tron Be A Millionaire Maker?

So, Is Tron Worth Investing In 2023?

Tron is still a victim of volatility, and frequent marker crashes like any other cryptocurrency. So, we can’t say with certainty that it is worth buying. However, after looking at the price history, current trends and the plethora of achievements the company has had, we think it will make a great addition to your portfolio if you are not risk-averse.

Most crypto experts believe that Tron might be a great investment this year. The cryptocurrency is developed and controlled by a dedicated team that knows exactly what the market wants.

So, while the price of Tron is currently still low, we expect it to skyrocket and become highly valuable in the next few years. This might be next year or the next three years, depending on how the market plays out and the overall success of the Tron platform.

The demand for dApps is on the rise. And Tron being on the forefront of decentralized, will no doubt ride with the DeFi wave. Soon, as more people begin to see the value of Tron and ditch content sites like YouTube and Netflix, the price will also ride and make it a worthy investment.

Conclusion

There are plenty of good prospects that Tron might be worth buying in 2023. As with any cryptocurrency, there are risks involved, and you might lose your money along the way. However, given Tron’s practicality in real life, the platform might soon be widely adopted, and more people choose cheaper content.

As usual, before investing, make sure that you understand what you are getting yourself into. Do your own research, work with people who are already investing in Tron and don’t make any haste investments.