Tron Price Prediction - Will TRX Value Rise?
Will the Price OF Tron Grow with the Project?
The recent bull run that saw the price of Tron double has undoubtedly brought it on the radar of many investors. The coin, which was originally released in 2017 as an ERC-20 token, has seen significant growth over the past few months. Now many investors are wondering whether Tron will be a worthy addition to their portfolio.
Tron is doing a lot on its part to make itself look like a promising investable asset. It has recently won a number of partnerships, including one with Lindsay Lohan, which allows the actress to sell NFTs on the platform. Tron has also partnered with major tech giants to help it build credibility and widen its user base. These include Samsung, oBike, Baidu, and the BitTorrent token.
These partnerships, coupled with a strong online community and the influence of its controversial CEO Justin Sun, will no doubt propel it to a decent position on the cryptocurrency charts. Justin Sun previously worked with Ripple and has been named on the Forbes 30 Under 30 list, so he brings both experience and skills that will see Tron enjoy wider mainstream adoption sooner than we think.
But what exactly is Tron, and why is it attracting a lot of attention?
What is Tron?
Trone is a decentralized platform on a mission to build a free, fair, and global digital content entertainment system that uses distributed storage technology. This will allow content creators to share their digital content in an easy and cost-effective manner.
To achieve this, Tron capitalizes on both the blockchain and peer-to-peer network technologies in an attempt to eliminate the content middlemen and allow consumers to directly access content from the creator. So, it is much like a cryptocurrency, but only in this case, we are dealing with digital content and not digital currency. That is basically what sets Tron apart from other blockchain-based digital assets like Bitcoin.
Tron was launched by a Singapore-based organization known as the Tron Foundation in 2017. The organization is headed by Justine Sun, a tech entrepreneur who is also the CEO of both Rainberry, Inc and the mobile social app Peiwo.
How Does Tron Work?
Cryptocurrencies like Bitcoin are built to eliminate middlemen like banks and allow users to send and receive money in a free, unregulated environment. Tron is trying to apply the same ideology to content. By capitalizing on the features of blockchain technology and peer-to-peer sharing, Tron wants to eliminate content middlemen like NetFlix and YouTube to bridge the gap between content consumers and creators.
As a result, content creators will be rewarded fully for their work while consumers pay less to access more content. To understand how this works, let’s take an example of a centralized on-demand content platform like Netflix.
Content creators host their content on Netflix. To be able to access this content, consumers have to subscribe by paying Netflix a certain amount. Netflix takes a cut of the payment from the consumer and then gives the remainder to the creator. This way, Netflix will remain with a lion’s share of this subscription fee.
But what if there was no Netflix and the consumer would be able to directly pay the content creator without a third party taking a cut? That is what Tron is aiming to achieve. The platform provides a distributed and decentralized storage facility that is more efficient and cost-effective for both the content creator and consumer.
This will help make the internet a level playing field by doing away with the few powerful corporations which control internet content.
The Tron network is powered by its own cryptocurrency known as Tronix.
What is Tronix (TRX)?
Tronix (TRX) is the cryptocurrency used on the Tron platform. Just like other cryptocurrencies, you can easily buy TRX from crypto exchanges like Binance by trading it for other coins like ETH or BTC. Unfortunately, you can’t buy it with fiat currencies.
Also, you can only store TRX on a wallet that is based on the Ethereum blockchain. A good example is MyEtherWallet. Tronix is mainly used on the Tron platform by content consumers to pay creators for access to the content they need.
The content creator can then exchange the Tronix tokens with other cryptocurrencies like BTC or even use them for supported blockchain services. TRX has grown over time and is now one of the most promising cryptocurrencies. At the time of writing, it was ranked as the 29th largest cryptocurrency by market cap.
Tron in 2021: Everything You Should Know
Most cryptocurrencies reached new milestones in 2021. Tron was no exception. After the crash that brought it from its all-time high to a humbling low, Tron needed new energy to forge forward, and it got it at the beginning of this year.
The coin went from a low price of $0.027 at the beginning of January to about $0.588 by mid-February, then $0.61 towards the end of February.
Although this growth was mostly market-wide, the Tron Foundation was doing a lot on its part to ensure that the coin stayed above the water. In particular, CEO Justin Sun closed many partnerships and acquisitions that helped TRX Tron grow, both as a decentralized digital content platform and as a digital asset.
Going forward, Tron foundation is looking to get more people to use its content platform. This will, in turn, increase the demand for TRX and subsequently raise its price. But how good of a cryptocurrency is Tronix? Will it be up to the task when it comes to powering a widely adopted Tron platform?
To better answer these questions, let’s look at where Tron has come pricewise.
Tron Price History
When Tron was released to the crypto market in mid-September 2017, it was priced as low as any new cryptocurrency. Although the growth hasn’t been as speedy as that of other coins, it is right to say that it has come from a humbling low.
Following the days after its ICO, Tron was trading at around $0.001984. Keep in mind that this was around the same time that Bitcoin was hovering above $3,500. So, obviously, TRX was under pressure to grow fast.
However, the low price was also a blessing in disguise. People who couldn’t keep up with Bitcoin’s parabolic growth opted for smaller coins like TRX. Soon, this investor shift set Tron into a mind-boggling bull run that saw its price surge to its current all-time high price of $0.3004.
As it is the norm with most cryptocurrencies, such a high jump is dangerous and exciting in equal measures. For TRX, it was mostly dangerous. Soon, the infamous crypto winter came and brought Tron to its knees, along with a plethora of other cryptocurrencies.
After the price crash of 2018, the price of Tron managed to stabilize, and for a long time, it fluctuated between $0.025 and $0.04. After a period of stagnation, another price surge came in April 2018, sending TRX price to above $0.06. This was again followed by another drop that resulted in Tron wobbling between $0.015 and $0.025 for the most part of 2019 and 2020.
Like most other cryptocurrencies, Tron started rising again in late 2020, and in early 2021, it peaked at $0.53. Towards the end of March 2021, it went to $0.6 and then dropped back to $0.5. Currently Tron trades at $0.10.
Read Also: Could Tron Be A Millionaire Maker?
TRON Price Predictions for 2021
According to experts, there is a lot in store for Tron in 2021. The coin is already making big strides and has joined the huge growth that swept over the crypto market at the start of this year.
But will the price have any significant increase this year? Probably.
Some industry experts and media outlets have come up with remarkably mixed predictions. For instance, Digital Coin Price and Conliker had both predicted that the price of TRX would rise while Wallet Investor believed that it would fall. Most of the platforms have so far updated their predictions, and we will be looking at the current predictions.
Trading Beasts predicts that Tron will end the year with a price of $0.16.
According to Wallet Investor, Tron will trade at $0.14 on the last day of December 2021.
Both predictions show slow growth, considering Tron's current price but are at least still optimistic.
Let’s look at 2022 and 2023.
TRON Price Predictions for 2022-2023
According to Trading Beast, TRX won’t have any significant growth in 2022 compared to 2021. The coin will hover between $0.11 and $0.16 for the whole year.
Wallet Investor's numbers are much more promising in 2022.
The Hungary-based crypto analysis site predicts that TRX will start 2022 at $0.14. The price will hover between $0.10 and $0.14 until April when it'll rise to $0.17, and then to $0.18 by the end of the month. According to the site, TRX will end the year at $0.20.
For 2023 Wallet Investor predicts that Tron will grow steadily through the year and end it at $0.28.
Trading Beasts, on the other hand, believes that Tron will begin 2023 at $0.16 and drop to $0.15 in December.
TRON Price Predictions for 2024-2025 and Beyond
2025 is pretty far, making it a bit difficult to get a good prediction. Already, most analysts differ on the prices for this year, so going that far, there will no doubt be striking differences between the predictions.
Trading Beasts predicts Tron's prices dropping in 2024, and TRX hovering between $0.14 and $0.15 for the whole year.
Wallet Investor's predictions are far more bullish. In 2024 the site has Tron reaching $0.28 in the beginning of January, $0.31 by July and ending the year at $0.36. Tron will remain growing throughout 2025 as well and end it at $0.44.
Check Out: Tron Price Prediction for 2025 and 2030
What Factors Affect The Price Of TRX?
There are several factors that drive the price of Tron. These factors will largely inform the future price movement and whether Tron will finally hit $1 in the coming years. By watching these factors, it becomes easier to predict fluctuations, especially when trading and make the right decisions.
Let’s look at the factors below.
1. Supply And Demand
Supply and demand are directly responsible for the price movement of any cryptocurrency. In a nutshell, prices go up when there is a higher demand than the current supply of TRX. On the other hand, if the supply is more than demand, the prices will fall.
Most optimistic predictions are founded on the fact there will be a higher demand for TRX when the Tron platform finally gets enough traction.
2. The Rise Of dApps
When dApps platforms like Ethereum came, others sprung up. Tron is one of them. Now the platform has grown to be the biggest home for decentralized applications. And with the rising demand for decentralized services, this will no doubt help Tron grow.
When more producers choose to sell their content directly to the consumers instead of using third parties like Netflix, Tron will be among the obvious leaders. If this happens, the demand for TRX will rise and result in a healthy price surge.
3. Regulatory Compliance
While the original essence of a cryptocurrency was to run away from centralized regulations, most countries around the world are steadily finding a way to regulate them.
Now most cryptocurrencies are becoming compliant with governmental regulations and have found a way to work with banks instead of trying to replace them.
According to experts, cryptocurrencies that are better regulated will survive strict financial regulations and criminalization in the future. The founders of Tron understand this since it has been approved by the Accounting and Corporate Regulatory Authority and is even supervised by the Company Law of Singapore.
This way, Tron will survive regulatory tides and thrive as the less regulated coins are abandoned.
The Future Of TRON: Will the Price Grow with the Project?
It is already evident that as Tron the platform gets more users, the price of the TRX crypto goes up. The two are tied together, so their growth will be directly proportional to each other. Since TRX is the default currency for the Tron platform, its growth will largely depend on how well Tron is adopted.
Overall, blockchain technology, as a whole, still has a long way to go. However, Tron hopes to deliver on its promises faster and becomes the first platform for decentralized content. This it will achieve by sourcing for more partnerships that will, in turn, boost its price and get it to the $1 mark as soon as possible.
When more content creators finally realize the potential in Tron, the demand for TRX will rise, and the prices might be higher than the predictions in this guide.
So is Tron a good investment?
Tron Should really come into its own and the price predictions for TRX coin should get higher. If the digital asset delivers on its projects, then Tron could be a very good investment in the long term.
Conclusion: Should You Invest in Tron?
As more people use Tron for content consumption, the demand for TRX will rise, and so will its price. Most predictions don’t seem to think that the coin will be hitting $1 or higher anytime soon. However, we might see a slow but healthy growth as the idea behind Tron and the TRX coin gain more acceptance.
As we have seen from the price history and future predictions, Tron is on an uptrend. Whether or not you want to invest depends on your investment goals.
But generally, we think this is a good time to invest in TRON. The price is still low, so you won’t risk losing a lot in case things go south. You can either trade or HODL, depending on how fast you want to profit off TRX’s current volatility. Alternatively, you can do a combination of both trading and long-term investment just to be on the safe side.
You should also note that the cryptocurrency market is dynamic, and changes can happen in the blink of an eye. Therefore, before deciding to invest in TRX, you should do enough research by focusing on the current market trends, technical analysis, and expert opinion.
Potential high and low of Tron price prediction forecasts:
After researching, you can now decide whether you want to commit to long-term investment or trade TRX. If you choose to trade, we recommend doing so through contracts for difference (CFDs) on a trading platform that supports Tron. CFDs allow profiting from both a bearish and bullish price action.
However, it is riskier since it can amplify losses as much as it boosts profits. You should, therefore, only do this if you have some experience with CFDs and can read the various signals correctly.
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