5 Reasons Why Tron Could Double Your Money In 2023

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Last Updated December 29th 2022
14 Min Read

The cryptocurrency market seems to have undergone a kind of renaissance in the last year or so, with a renewed emphasis being placed on innovation and the potential of blockchain technology beyond basic peer-to-peer payment systems. 

As the popularity of NFTs and DeFi continues to surge, investors have started to look again at cryptocurrencies that have the potential to provide something new - and one of the most intriguing projects in the space has to be Tron. 

Set up by the Singapore-based Tron Foundation in September 2017, Tron’s developers sought to revolutionise the entertainment industry by connecting digital artists directly with their audience. The idea was to democratise digital content and remove the need for a middle man - in this case, content hosting platforms like Netflix, Apple and NowTV. 

By leveraging blockchain technology to create a peer-to-peer content sharing platform, Tron created the perfect environment for digital artists without the need for a central, fee-charging platform taking a share of their profits. This in turn meant that consumers would, in theory, also get a better deal. 

Tronix (TRX) is the name of the native token that powers the Tron network. Consumers can use Tronix to pay for content, with the tokens sent directly to the content creators. They can then be exchanged to other cryptocurrencies, or used to pay for other services on the Tron network. 

5 Reasons Why Tron Could Double Your Money

1. Tron has a strong community of developers and supporters

Tron developers are often referred to as ‘the dream team’ - thanks largely to the impressive credentials they collectively possess. The project's founder, Justin Sun, is himself known to be a protege of Ali Baba mogul Jack Ma. In addition to setting up Tron, Sun is also behind the Peiwo smartphone app and has been featured in the Forbes 30 Under 30 several times. 

In fact, Tron poached many of Ali Baba’s top developers when it underwent a major expansion in 2019. Not only was the core development team massively expanded to help upgrade the infrastructure, but the Tron Foundation also sought industry leaders from the world of music streaming, gaming, video and eSports.

The team is also strengthened through several strategic partnerships. For example, Peiwo and Gifto will help Tron gain ground in the picture, video and blog markets.  Baofend will provide video streaming expertise and Game.com is to be Tron’s ticket into the gaming sector.

Of course, the Tron foundation also famously acquired the BitTorrent network in 2018, bringing the development team of the world’s biggest peer-to-peer sharing platform onto its roster. 

Tron is an ambitious project and the strength of its development team should go a long way in reassuring potential investors that it has the capability to deliver on its promises. 

Then there’s the Tron community itself. Tron has one of the most active communities of any cryptocurrency. This may not initially seem an important factor to investors - but we have seen the power of community hype with the meteoric price rise of Dogecoin in 2021 - not to mention the whole Gamestop mania. 

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

2. The growing popularity of NFTs

Non-Fungible Tokens (NFTs) are one of the hottest trends in the DeFi space and their popularity appears to be growing, as a spate of high-profile celebrity auctions has brought them to the world’s attention throughout the first few months of 2021. 

One of the biggest was Twitter CEO Jack Dorsey auctioning off an NFT of his original tweet - which incidentally, Tron CEO Justin Sun actually bid on himself, with an offer of $2 million. There was also a 10-second clip from basketball legend LeBron James, which sold for $208,000 on the NBA Top Shot site.

An NFT works like proof of ownership. Jack Dorsey’s tweet, for example, is still on his account and anyone can theoretically take a screenshot. Likewise, anyone can download clips of Lebron James. But an NFT can prove who owns the original content. 

NFTs are unique crypto assets that cannot be replicated or divided. Whereas one standard crypto token, such as BTC, is effectively the same as the next, a non-fungible token is one-of-a-kind. As such, they can be used to represent anything: a tweet, a piece of digital art, a movie recording, etc.

You can find more information on what NFTs are by checking out our guide, but for now, it’s enough to understand that they can be used to represent just about any form of digital content and consumers are prepared to pay big money for them. 

And this could prove very beneficial for Tron, as the network is perfectly placed to capitalise on the NFT trend. In fact, earlier in 2021, the Tron Foundation announced that it has developed its own NFT standard - TRC-721 - to allow users to create their own tokens. 

Of course, there are several other platforms that are suitable for the development of NFTs - not least Ethereum - but Tron has the advantage of already being well-established with the target market, as well as having been originally set up specifically for the digital creative industries. TRC-721 will also allow users to create tokens much more cheaply on the Tron network than they could with Ethereum.

Competition in the NFT space is really starting to heat up and no one knows for sure which protocol will come out on top, but it’s safe to say the Tron is in a very good position and if it is able to corner the market, the price of TRX could rise substantially. 

Read Also: Should You Buy Tron?

3. Tron’s Newsworthy CEO

It’s fair to say that cryptocurrencies must compete for media attention. With over 17,000 coins in existence, the more headlines a project can grab, the more its profile will be raised and the more people are likely to start using the platform or trading the token. This in turn will inevitably have a positive effect on prices. 

Fortunately for Tron, CEO Justin Sun is one of the most fabled characters in the crypto space. He is known to be somewhat outspoken and never one to shy away from the limelight - often engaging in heated and often controversial debate regarding the future of his (and other) blockchain project. 

Behind this brash, somewhat raucous exterior lies a man who knows how to work the media. Sun clearly understands the importance of publicity in the crypto industry and never fails to seize an opportunity to boost Tron’s profile. 

As we have seen, Sun was one of the names in the running to secure the Jack Dorsey tweet, which was big news at the time. In addition to this, he also spent $3m to have lunch with Warren Buffet, in what was presumably a very expensive publicity stunt and certainly boosted awareness of Tron amongst US investors.

Sun was also quick to benefit from the Reddit-driven Gamestop rally, announcing that he was buying $10 million worth of the stock when the mania was at its peak. Once again, this all served to indirectly boost the notoriety of the Tron foundation.

Love him or hate him, Justin Sun does his part to keep Tron in the public eye and as we have seen so far, individual personalities can do a lot to shape the cryptocurrency market - including boosting prices of specific coins. 

Check Out: 22 Reasons Why You Should Invest In Tron Today

4. The Entertainment Industry is a Huge Market

We have seen that Tron has expanded its development team to cover all the main entertainment forms: video, music, art, esports and gaming. The platform has also been quick to embrace the idea of NFTs. So, it’s fair to say that Tron has the entertainment industry firmly in its sights. And a big industry it is too…

The online entertainment market was valued at approximately $1.3 trillion in 2011. By the end of 2021, it was expected to have surpassed $2.2 trillion - impressive numbers, even by cryptocurrency standards. It is also expected to continue growing, reaching an estimated $2.5 trillion before 2024 is out. 

But aside from the sheer size and growth rate of the entertainment industry, there is also its influence to consider.

Most of us use some form of digital entertainment in our daily lives and if Tron reaches its potential, it could eventually become a household name in the way that other crypto projects, such as DEXs and other DeFi applications may not. For example, the average person probably knows what Netflix is, but might not be able to name any of the world’s major venture capital funds. 

If Tron can achieve its goal of decentralising the world of digital entertainment and establish itself as a market leader, then there is no telling just how much TRX could explode in the coming years. As such, 2023 could be the ideal time to add Tron to your portfolio. 

5. Many Leading Analysts are Predicting Growth for TRX 

Most potential investors would agree that the reasons listed above could lead to significant gains for Tron, but it’s also worth noting that many top crypto platforms are predicting growth for tron TRX in 2023. 

Technical analysis by DigitalCoinPrice suggests Tron could reach $0.09 by the end of 2023. According to the platform, Tron will reach $0.13 by 2024. 

Elsewhere, WalletInvestor sees TRON TRX rallying towards the end of 2023 and reaching a potential high of $0.13 in December - which would mark growth of around 116.67% on today’s price.

Finally, Coinpedia has looked at the price history of TRON TRX to come up with its forecast, which suggests that Tron will reach $1 before the end of 2023.

This final prediction suggests that Tron could double your money in 2023 - literally - but as always any crypto forecasts should be seen as an indicator of current sentiment and not the sole basis for investment.

Don't Miss: Tron Price Prediction for 2025 and 2030

Expert Predictions For Tron

We have outlined the 5 reasons why Tron could double your money in 2023, but it’s also worth hearing what some industry insiders have to say about the project, as expert opinion can also tell us a lot about how a cryptocurrency is viewed by those who know the industry best.

CEO and founder of ChainLeak, Josh Roomsburg, took to Twitter to say that it was “only a matter of time” before Tron entered the top 5 cryptocurrencies by market cap. 

Elsewhere, eToro Group crypto expert, Simon Peters has said that investors are increasingly looking away from tokens like Ethereum and Bitcoin to cheaper coins that will allow them to acquire a much larger holding, suggesting Tron could appeal thanks to its comparatively low trading price. 

Finally, renowned crypto analyst and trader Kaleo has previously suggested that Tron could be prime for a Dogecoin-esque community-led price run, although he stopped short of actually forecasting how that price run might go. 

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

Conclusion - Is Tron A Good Investment?

Most people would agree that Tron is certainly an exciting prospect. Whether you are a prospective investor or a potential consumer on the network, the idea of a decentralised entertainment platform covering everything from online casinos to video streaming is one that has a huge amount of potential.

Will Tron double your money in 2023? Perhaps, perhaps not. But Justin Sun’s ambitions for the project, its technical credentials and the forecasts of leading crypto analysts suggest TRON could certainly prove to be a smart investment. 

However, investors should be aware that Tron has plenty of rivals and, as of yet, it can hardly be thought of as a major player in the wider world of digital entertainment. As always with the cryptocurrency market, investing in Tron means taking on risk - but therein lies the potential for bigger rewards.

Read More:

Tron Forecast: Will TRX reach $5?

What Will TRON (TRX) Be Worth In 10 Years?

Will Tron Price Double In Price Due To The Future of DeFi?

Is TRON (TRX) A Good Buy?

Could Tron Be A Millionaire Maker?


Can Tron replace Netflix?

Tron is designed to revolutionise the world of content sharing by using blockchain technology to remove the need for a central platform, such as Netflix, Apple or NowTV. Whilst the organisation behind the project has made inroads into the gaming, video and music markets, realistically it is still a long way from rivalling the likes of Netflix.

Will Tron ever be worth more than $1?

Tron is one of the lower-priced tokens on the market, trading at around $0.086 at the time of writing. However, investors should remember that profits are delivered in percentile change, not the total value of an asset. Realistically, Tron could well surge beyond the dollar in future, but it is unlikely that this will happen within the next year. 

Should I buy Tron?

Tron saw some solid price growth in 2021 and many analysts are predicting that it will continue in 2023 and beyond. However, Tron is definitely a riskier buy than the likes of Binance Coin or Ethereum so should only be added to your portfolio as part of a diversified strategy.

How do I invest in Tron?

To invest in Tron, you’ll need a broker that lists the coin. If you don’t have one already, then we’d recommend checking out eToro for reliable service and a good listing of cryptocurrencies.  

What is TRX used for?

Tronix (TRX), the native token on the Tron network can be used to reward content creators and pay for services. Of course, it can also be exchanged for other cryptocurrencies, or traded as an investment asset.