TRON is one of the cryptocurrencies that entered the market in 2017 when the crypto universe was flourishing. About four years down the line, it is one investment option crypto enthusiasts, and online traders can invest in.
If you are like most smart investors, then you like to investigate every asset you intend to invest in. If you are wondering whether TRON (TRX) can make you rich in the next ten years, then you have come to the right place.
We understand that traders and investors need to know a lot about an asset before investing in it. We also advise investors to investigate every investment option thoroughly before making a commitment. To help our users make the right decisions, we investigate every investment opportunity thoroughly and provide readers with the best information to make a sound decision.
Here, we are going to discuss everything a potential investor needs to know about TRON as an investment option. We are going to discuss the price history of the coin, its recent performance, as well as expert predictions.
We always allow readers to decide what is best for them. So, it is important you read through every part of this post carefully. In the end, you should have enough information to determine whether investing in TRON is the right thing for your portfolio.
- What Is TRON?
- How Does TRON Work?
- Is TRON A Good Investment?
- TRON Price History
- TRON Price Predictions
- Why Invest In TRON?
- Reasons to Reconsider Investing In TRON
- Should You Play The Long Term Game With TRON?
- Invest the Smart Way
What Is TRON?
TRON is a decentralized blockchain platform that has content and entertainment as its prime focus. The network is similar to many of the cryptocurrency platforms out there, but there is a bias for entertainers and the content they create. The founders of TRON wanted to bridge the gap between content creators and their audience through cryptocurrency.
TRON is a robust blockchain network that lets developers create and deploy complex protocols through smart contracts. It is similar to Ethereum in some ways, but there are issues and hitches that we will discuss later. The platform prides itself as one of the fastest networks in the cryptocurrency universe and is also known for its lively CEO.
As mentioned already, TRON has a bias for entertainment and content creators. The founder's original intention was to create a platform that will eliminate the middlemen in the entertainment sector. The idea was also to make the creation and transmission of entertainment content cost-effective. Obviously, this will serve the interests of the content creators and consumers. Creators will be able to charge less while making more money, and consumers will pay less money while consuming more content.
Like other crypto platforms, TRON has a native currency which is commonly referred to as TRONIX or TRX. The coin is also called TRON. For the purpose of this article, we will refer to the coin as TRON, TRONIX, TRX, or TRON TRX.
It is also important to state here that investing in TRON means investing in the coin. In simple terms, the average investor buys the TRON coin from a reliable source and sells it when it is profitable to do so. The goal is always to buy at a lower price and sell when the price is higher. Investors can wait for years for the price of the coin to appreciate significantly before selling.
A Brief History Of TRON
To understand and appreciate TRON, you need to consider its history. The coin was launched in 2017 by a vibrant crypto enthusiast, Justin Sun, who was said to have bought his first Bitcoin in 2012. The founder started by launching what we know today as the TRON Foundation, a Singaporean-based non-profit organization.
During the formation of his foundation, Justin Sun (who is allegedly Jack Ma’s protege) was truly committed to building an infrastructure for a decentralized internet and provide a democratic system of management for its network.
Prior to the formation of the TRON Foundation, Sun has already earned a reputation in the blockchain sector. He was the chief representative of Ripples in the Greater China area. He was also the brain behind a very popular live-streaming app called Peiwo.
At the time of starting the TRON Foundation, Justin Sun had the right contacts to make it work. Again, he quickly integrated TRON into Peiwo months after creating the crypto platform. This was a major boost in the early history of TRON.
The initial coin offering (ICO) of TRON was also a huge success. The foundation raised as much as $70 million to further the development of the ecosystem. China, which was a big market for the token, outlawed it soon after ICO. The token is still doing pretty well after this initial setback.
It didn’t take TRON a lot of time to move in the right direction and earn the respect of many. In 2018, the crypto network announced the acquisition of the popular torrenting site, BitTorrent. The announcement affected TRON in many positive ways, putting it in the league of real players in both the content and crypto space.
How Does TRON Work?
As hinted earlier, TRON provides one big platform for the entertainment industry in a digital market. It enables core users to share and maintain information between systems – especially entertainment content. The system helps users to reduce information input efforts and also reduces the cost of publishing and consuming content.
The TRON network uses Delegated Proof-of-Stake (DPoS) consensus mechanism. While this is similar to the popular proof-of-stake consensus mechanism, it has some unique characteristics that make the network a little more secure. Like a proof of stake consensus mechanism, it lets users earn passive income whenever they stake their holdings in a network wallet. This is especially important for core insiders/investors.
The DPoS has elected nodes, which are the only nodes capable of approving blocks of transactions. The TRON network depends on its community for governance. The community elects 27 Super Representatives every six hours for the task of approving transactions on the ecosystem. The entire process is run by the Decentralized Autonomous Organization (DAO), but the representatives are chosen by the community by staking their TRX.
It is easy to stake TRX on the TRON network. Users can stake their tokens at a ratio of 1:1. Staking is rewarded by TRON Power, which is vital for voting the Super Representatives. TRX owners also earn passive income by staking in the TRON ecosystem.
What Is Special About TRON?
TRON is similar to most other cryptocurrency platforms. There are a few distinctions potential investors should know about. The first is the bias for entertainment. The system was created to make things easier for content creators to reach their audiences easily and sell to them cheaper. Though the coin is yet to fulfill its full potentials in this regard, it has achieved a lot already.
TRON is also seen as the hallmark of data liberation. The network allows for the uploading, storage, and distribution of content to users for free. It is a massive platform for individuals who want to distribute digital content in the most affordable manner. There are no middlemen at all, allowing creators to sell cheaper and make money as consumers spend less to get more.
The primary purpose of TRON may be to provide a robust digital infrastructure for the exchange of digital assets, but it has also become an avenue for ordinary people to invest. Anyone at all can invest in the network by buying the native currency and selling to make a profit when the market is favourable.
Is TRON A Good Investment?
It is difficult to tell if a digital currency is a good investment option until you look at its history, current stand in the market, and price predictions. The TRON network is decent. It has one of the most vibrant crypto entrepreneurs. But those are not the most important things to consider.
We will carefully consider the three most important factors in determining the viability of any cryptocurrency. You may want to slow down and read carefully from this point.
TRON Price History
We’ve mentioned that TRON had a very successful initial coin offering. The TRON foundation raised about $70 million to start the project. When TRX debuted on the market, it was selling for $0.0021 per token.
TRON was outlawed in China after the ICO but did not affect the viability of the platform so much. In fact, the enigmatic CEO of TRON foundation had a lot up his sleeves. A few strategic moves and announcements saw the price of the coin improve significantly. TRX gained as much as 1000% in an incredible growth spurt between December 2017 and January 2018 to reach $0.21.
At the height of its growth, TRON became the tenth-largest cryptocurrency in terms of market capitalization. The unnatural growth pattern was soon disrupted, and the coin's value dropped to $0.0428 in February 2018.
In March 2018, TRON sold for $0.0337 per token. It improved and averaged $0.0927 in April but started losing again. By September 2018, the coin had dropped to $0.0222. It gained a little in October but lost again in November. It managed to end the year at $0.0186.
TRON started 2019 strongly at $0.025076 in January. A little setback saw it average $0.023430 in March. It gained in the next couple of months to average $0.033090 in March 2019 before a bearish market set in to drive the price down to $0.014510 in September. The coin slipped further to close 2019 at $0.0133.
2020 was a good year for TRON. It opened the year at $0.018680. February and March were tough for the coin as it was traded at $0.016470 and $0.011570, respectively. However, it picked up and was able to reach $0.029180 by August. It reached $0.032350 in November, only to drop back to $0.026200 in December 2020.
Recent Performance And Current Position Of TRON
TRON started the year 2021 on a positive note. In January, it averaged $0.31550. The price increased to $0.045590 in February and reached $0.092850 in March. TRON averaged $0.132300 in April, but it recorded a high of $0.170940. TRON lost some value to sell for $0.076890 on average in May. The price dropped further to average 0.062200 so in June. In the bullish market in September Tron reached a price of $0.1035.
At the time of writing this piece, TRON's price was $0.0679, according to Coin Market Cap. In the last 24 hours, the coin has sold for a low of $0.06361 and a high of $0.06791.
At the moment, TRON has a market capitalization of $6.9 billion, but the fully diluted market capitalization is $6.7 billion. It is ranked the 29th cryptocurrency in the world in terms of market capitalization.
TRON has a circulating supply of 101.84B TRX, while the total supply is expected to be 101,839,629,276 TRX. The coin is traded in major exchanges, including Huobi Global, Binance, and Poloniex.
TRON Price Predictions
Many authority websites are positive about TRON’s future to some extent. While the coin is expected to rise in the near future, many industry insiders are not seeing it growing so much to become a threat to Ripple, Ethereum, or Bitcoin. All the same, it is important to consider realistic projections.
Wallet Investor believes that TRON can reach $0.138 in 2022. They also believe that the price will climb slowly but steadily and may reach $0.460 in the next five years (2027).
Digital Coin Price is less positive about the future of TRON. According to their prediction, the coin can be worth as much as $0.0961 by the end of 2022. They also expect the coin to rise to about $0.1371 in the next five years (2027). They also predict that the coin will rise to $0.2957 by 2029.
Long Forecast also has a mixed feeling about the future price of TRON. According to their predictions, the coin can be worth around $0.056 by the end of 2022. They believe that the coin can lose value again to finish 2023 at $0.101, 2024 at $0.059, and 2025 at $0.036.
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Where Will TRON Be In The Next Ten Years?
It is very difficult to authoritatively predict where a particular cryptocurrency will be in ten years in terms of price and popularity. We can only try by following trends and using some analytical methods. You should know, however, that the cryptocurrency market is highly volatile and mostly driven by speculations.
Looking at how TRON has performed in its four years of existence, we believe that the coin can become more valuable than it is at the moment. If the coin fulfills its ambitions in the global entertainment industry, it will certainly become one of the most valuable coins in the world. Even if it doesn't conquer the market as much as the founders anticipated, the value will still improve, and it can sell closer to the $1 mark in the next ten years.
Why Invest In TRON?
TRON can be a decent investment option if you are the patient type. There is a good chance that it will become much more valuable in the future and yield huge returns for investors. Here are major reasons you should consider investing in TRON:
- It is a unique cryptocurrency that focuses on content creation and consumption (which is a relatively new market for cryptos)
- TRON has a solid infrastructure, and it helps to improve the value of the TRX token
- The TRON foundation is led by an experienced and pragmatic CEO who seems very capable of leading the platform and its native coin to greater heights
- TRON is a secured platform that beats many pioneer cryptocurrencies in terms of scalability, faster transaction time, and low transaction fees.
- TRON has come up with several innovations and has entered into strategic partnerships that are likely to make the platform and its native coin TRX very relevant in the near future.
Reasons to Reconsider Investing In TRON
From what we have covered so far, it is easy to conclude that TRON is an incredible investment option for cryptocurrency enthusiasts. While this is true to a large extent, there are reasons you may have to think harder before deciding to invest in the platform and its native coin, including:
- TRON is a relatively new platform and has not gained reasonable ground in the entertainment and content creation market
- TRON has been involved in a handful of controversies, including accusations of plagiarism in its white paper and codes
- TRX has been really volatile in the last four years, and no one is certain when the next unpleasant surprise will hit the market.
Check Out: Pros and Cons of Investing in Tron
Should You Play The Long Term Game With TRON?
If you have a belief that TRON can make you rich in the next ten years, then you should be willing to play the long-term game with the token. But is this the best thing to do?
From all indications, TRON is likely to become a lot more valuable in the future. In ten years’ time, we expect that the token will be worth much more than its current value, and investors will be the ones to rejoice.
However, you need to consider the fact that the cryptocurrency market is a highly volatile place. While the chances are high that TRON will become more valuable in the future, it is also possible that the coin will lose value in the future. The uncertainty in the market makes long-term investments a lot riskier.
You don't necessarily have to wait for ten years before cashing in on any cryptocurrency investment you've made. Even if your intention is to HODL for ten years, you should watch the market closely, and maybe, you will know the right time to pull out of any investment in your portfolio.