Launched in 2017, TRX is a fairly new coin within the cryptocurrency space. Yet, this project has witnessed intense price revolutions since its initial launch price of $0.05. In 2018, a year that doubles as cryptocurrency’s golden year, TRON reached an all-time high of $0.30. But this did not last long as 2018 would end badly for cryptocurrencies, TRX dropped in price to $0.01.
Coming from an all-time high of $0.30 to currently trading at $0.15, TRX is cheap.
Experts predict that the price of Tron will likely rise again at some point in the future. But before you conclude from this historical deduction, there is more to why TRX is considered cheap at its current market price.
Why has TRON’s Price Dropped So Much?
In the crypto world, Bitcoin influences directly or indirectly the price of other coins or as it is called altcoins. However, it takes more than the price of Bitcoin to determine the price value of an altcoin, in this case, TRX. There is an unwritten rule in cryptocurrency. When the developers of a coin are constantly in the news for the right reasons; going into partnerships, launching more products and developing new use cases for their coin, the price of that coin increases and vice versa. This is why altcoins like BNB are destined for the stars.
Every breaking news heralds a new price point.
One of the major reasons for the current price of TRON is its stability, and this, when carefully examined, can be the sole reason why TRON, the famous altcoin, will soon jump up in price. Since its first bull run of 2018, TRX developers started working on its stability.
TRON was initially built as an ERC-20 token for the Ethereum network. But the unprecedented success of TRX made its developers consider building their Blockchain. TRX is stabilizing as an altcoin, and as it continues to grow and gain more adopters and supporters, its price won’t stay down for too long.
Read More: TRON Price Analysis for 2021
Will TRON Price Grow?
Some experts predict that the price of TRON will rise again by the end of 2021 and beyond. Forecasts made by investors on Medium determine that the price of Tron may be able to go as far as $1 in the next few years.
On top of that, several savvy crypto investors and credible crypto websites believe that TRX will be able to bring a lot of profit to investors in the near future.
TRON is currently ranked among the top 20 coins in the world in relation to market cap, and it is quite popular in the entertainment world. Despite its epic fall on the eve of 2018, TRX is gradually gaining momentum and taking shape for a bull run.
TRX is stabilizing and what this means is that its price is bound to increase. The first bullish run of TRON was the announcement of its Blockchain. With that established, imagine what its new activities will achieve for the platform. TRC-20 transactions currently surpass ERC-20 transactions, and this is a sign of a large base of adopters. No hype, just numbers. Hard proves that the TRON network is thriving.
Activities on a Blockchain are markers that its price will spike or decline. In TRX case, these activities are increasing daily. And there are three factors responsible for this feat: fast transactions, less expensive transaction cost, and a capacity to process large transactions.
TRON has a lot going; from TRON wallet to its recent partnership with BitTorrent, these developments will have a positive impact on the price of TRX going forward. Ripplecoinnews predicts a price increase from $0.16 to 0.40 by the end of the year 2021.
Check Out: Tron Price Prediction 2021-2025
Is TRON Worth Buying?
Tron's coin looks like a good long-term bet. One example of a crypto that could be a good buy after its sell-off is Tron (TRX). This dominant Blockchain cryptocurrency's coin still has room to run
Recommending a coin is based on its current activities and future predictions. TRON is arguably the coin with the most following of vocal users, this comes as no surprise because TRX is a decentralized project whose sole purpose is to promote a decentralized internet space.
Like Ethereum, TRON help developers build and operate complex protocols through smart contracts on its Blockchain. Today, this project is best popularized by Justin Sun, its crypto enthusiastic CEO and its transaction speed.
TRON sometimes solicits a lot of emotions. Its hype when placed side-by-side its result is commensurable. Though there are instances where promises made by its founder are farfetched, yet the number is staggering. There are more transactions on the TRON network than ERC-20. This loosely translates that TRON is worth buying .
Also, according to TradingBeast price prediction, TRX could reach $0.92 by the end of 2022, with its price ranging between $0.076 and $0.98. This price range is predicted to continue to increase through 2024, with a new price range of $0.96 and $1.112.
Investing in TRX, like any other crypto, does not guarantee profit immediately. However, some have made the prediction that by 2025, it could reach $2. This is pretty exciting for all eyes concentrated on TRON.
With all these going for TRX, it is worth adding to your crypto portfolio this year?
Read Also: How to Buy TRON
Will TRX Bounce Back?
TRX, through its Blockchain and support base, continues to grow, and it is projected to rise to the level of Ethereum. Though very far from the actualization of this projection, it is closer to levelling its initial all-time high of $0.30.
Tron TRX price could bound to bounce back since Tron has a capacity to achieve just as much as Ethereum. However, investing in digital currencies is always uncertain as the market is unpredictable. Despite this, forecasts for TRON’s value are largely positive, and we could see an uptrend in value in the future.
The brain behind TRX, Justin Sun, is a notable FinTech giant and a protégé of Jack Ma, the founder of Alibaba Group. Justin already made a name for himself in the Blockchain sector before the launch of TRON. He had made his way into Forbes China 30 under 30 in 2015, and Asia 30 under 30 in 2017.
Why is this important?
The credibility of the founders of a coin is important in its future. It gives you an idea of what to expect from the coin.
Justin Sun can manage TRON from his wealth of experience and the quality of his network. Before TRON, Justin was the chief representative of Ripple in the greater China area. A position that immensely aided the launch of TRX. His popular app, Peiwo, has more than 10 million users in China. Justin was able to integrate TRON into Peiwo, and this was a major boost for TRX. It significantly increased TRX active users.
Deals and moves like what he did with Peiwo are similar to what happened with BitTorrent, and you can expect more of that to happen in the future and could lead Tron value to bounce back. Justine Sun is a business-minded technocrat, and you can expect that his next moves will translate positively for TRON.
Is TRX a Good Investment in 2021?
Ripplecoinnews proposes that TRON is the best option if you are considering a long term investment opportunity in cryptocurrency. Stressing that there is a market forecast that predicts TRON will rise with a long-term investment commitment of 1325.58% over the next five years.
The question is TRX a good investment in 2021 undermines the place of cryptocurrencies generally. The events of 2020 ushered in a new dimension of carrying out transactions. The pandemic though harsh on our reality, was the tap cryptocurrencies needed to wake up from their slumber.
There is no stopping cryptocurrency now. Coins are on a bullish run, and if there is any promising coin with an inexpensive entry point, it is TRX. It is still in its capacity building stage and set up for a bull run.
Seize the moment now.
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