TRX, or rather Tronix, is the native crypto asset of the TRON Network. TRON is a Blockchain-based decentralized network targeting an unchained, worldwide digital content entertainment structure using distributed ledger technology, and enables straightforward and cheap sharing of data.
What is TRX?
Blockchain technology provides a decentralized information sharing system that is immune to control, secure, and fast. The Tronix digital currency was developed to power the TRON Network and to motivate digital content developers. TRON endeavors to achieve a fair and equal dispensation of revenue generated by content on the platform among all the participants.
The Tron Network was founded in September 2017 by the Tron Foundation, a nonprofit organization based in Singapore. It is led by its creator and CEO, Justin Sun, a former Ripple employee. Justin Sun has a devoted in-house crew of developers that comprises prominent technology faithful.
Tron’s partnership with Korean tech giants, Samsung, will play a massive role in driving its adoption, according to Justin Sun. The latest Samsung smartphone supports TRX, USDT-TRON, BTT, and Beatzcoin. The crypto smartphone is currently accessible in Switzerland, the UK, Germany, the U.S, and Canada.
BTFS secret revolutionary project
There were reports that the DAI stablecoin will be integrated on both Tron Network and the Binance blockchain using a layer two scaling solution dubbed Loom network. Tron’s originator, Justin Sun, regularly informs the TRX fraternity with the current progress in the Tron ecosystem. He even tweeted about a secret revolutionary project with the creators of BTFS.
This month, TRON has been on the headlines when Justin Sun tweeted about the next forecast with BitTorrent, which will be hugely significant to the entire cryptocurrency ecosystem. Following the tweet, the price of TRX and BTT surged by 10 percent and 20 percent, respectively.
All this vast and significant news might push TRON TRX price prediction, which may perform a vital role in the subsequent days. Particularly, with the roll-out of revamped Tron Network version 1.0 on the brink, this might turn out huge for the TRX community. Significant developments in the TRON Network have impacted TRON TRX price positively, and the same can happen this time around as well.
Recently, TRON set forth the ‘TRON ARCADE,’ a gaming kitty amounting up to $100 million. The TRON ARCADE provides developers with bedrock, and the funds required to develop on top of TRON Network. Musicians, artists, and other participants of the creative space are the most users of the arcade.
TRON Price News
As of October 27th, 2020, TRON has:
- A current price of: $0.026937
- A Market Capitalization of: $1,930,290,277
- A 24-hour volume of: $935,697,595
- A Circulating Supply of: 71,659,657,369 TRX
- A Total supply of: 100,850,743,812 TRX
Back in September 2017, when the Tronix cryptocurrency was first launched, its value was just 1 cent, the total market capitalization was $70 million. The situation of the cryptocurrency remained still throughout the entire fall. Very few people thought the cryptocurrency would rise to be amidst the top in the cryptocurrency market.
In December of the same year, the price of TRON reached 6 cents, as a result of massive PR campaigns, and the influx of large-scale cryptocurrency investors. The total market cap of the cryptocurrency had more than doubled by then to reach $160 million.
Early January 2018, the total market capitalization broke past $2 billion, resulting in TRON usurping the likes of Litecoin, Neo, and Stellar to enter into the top ten cryptocurrencies by market capitalization. The price of TRON surged and maintained between 10-20 cents. Later during the same month, the performance of TRON dropped, resulting in TRX price plummeting to 4 cents. The surprise fall happened after an assertion that the developers had released a massive amount of TRX tokens.
TRON price stopped dropping
Over 6 billion TRX tokens valued at upwards of $300 million were sold from a Binance account. TRX investors condemned the TRON founder for the drop. Reports surfaced later that the Binance account belonged to the Tron chief. However, Justin Sun later claimed that he had nothing to do with the account and that someone tied it to his name to compromise him. Although he has not yet earned the full trust of investors, the TRON price stopped dropping.
The drop to 4 cents was ultimately offset by the anticipated launch of TRON’s mainnet and acquisition of BitTorrent. The TRON price surged upwards to a high of 9 cents and a total market cap of $3.2 billion. Unfortunately, the purple patch did not last that long, with TRON’s price plummeting back to 4 cents after the launch of the mainnet.
The price of TRON went down further to between 1-2 cents between August and November 2019. After a tough period, thanks to PR campaigns and the rollout of the BitTorrent token, TRX rose again. The price of TRON surpassed a high of $0.27 in January 2019 but gradually started dropping.
TRON (TRX) weak points
Tronix cryptocurrency heavily relies on decentralized apps (DApps). All TRON price prediction in the market ultimately comes from two expectations in the long run: the expected future financial outcome of the DApps market and the likelihood that TRON’s rivals such as Ethereum, EOS, and NEO succeed.
All the networks mentioned above do not focus on the digital entertainment sector. However, they provide an excellent platform for the development of decentralized applications and the deployment of smart contracts. TRON has a significant advantage over the above three blockchain platforms. For instance, it is fast compared to Ethereum, the top two cryptocurrencies in the world.
In the three platforms, TRON faces three intense challenges in the scramble for market share. The Ethereum has the advantage of being a fast mover and its broad media coverage. NEO project provides tokenization of physical assets, while in EOS, TRON is going head-to-head with the number-one network worldwide in transaction speed. This list of rivals is far from complete.
Market TRON price prediction 2020
The volatile nature of the cryptocurrency market makes it difficult for anyone to predict their prices. According to Dappradar last year’s evaluation and overview, the TRON Network has failed in its capability to dilate its perception of free uncensored internet for entities other than gambling and gaming company.
Ninety percent of Tron’s audience link with at least one gambling decentralized app, 10 percent interrelate with cryptocurrency exchanges, and 0.1 percent interact with games. Furthermore, apart from the categories above, the most popular DApp on TRON Network, TROBONET, saw the daily average active unique wallets usage fall by half from 4,000 in June to below 2,000 by the end of last year. Although TRON may grow, its growth rate is negligible compared to other digital currencies.
TRON price prediction FAQs
Probably, TRON will grow moderately over time through the years. All these hinges on the progress and the strive of the entire TRON team. It is difficult to tell the TRON price predictions due to its high fluctuations.
However, according to the YouTube crypto channel, Crypto Crow, TRON price prediction could double its price this year in its forecast. That means TRON price prediction in 2020 will be $0.0306. A 100 percent return over one year is an adequate return on capital. However, any hopes of further surge above and beyond are implausible.
Will TRON price reach $1?
It appears highly unlikely for TRON price prediction to reach one dollar in 2020. However, as the industry expands and cryptocurrency adoption grows, it may hit one dollar over the years. TRON has high growth potential, but currently, it is very far from running $1.
On the bright side, many development projects and partnerships are surrounding TRON, which is a good thing. n However, the question is whether this trend will be consistent in the future. If you are wondering ‘will forecasts of exchange be TRON price soon at $1’ in the future?
Just know that the TRON Network recently updated its infrastructure and displayed a fresh partnership approach. Also, there is the TRX staking program where users receive prizes from trading competitions. At the close of the day, a new way may lead to a number of developments. Assess the value of your coins in USD, buy those with the exemplary term, and evaluate what’s in store.
In the long-run, we expect TRON (TRX) to hit $1 in the future, perhaps in 2030, as the crypto grows. However, TRON price predictions now indicate that focus should be between $0.020 and $0.050 price levels.
Can TRON (TRX) hit $10?
There are many websites out there that are very bullish regarding TRON. TRON may reach $10 but get your hopes high. As much as I believe in Tronix price prediction, people are really scared if they even get 50 cents without having the main net. A week ago people said this coin is dead and won’t break 10 cents, it saw 100% growth over 30 hours, did a massive spike, and dip on FOMO and FUD.
There is so much confusion in the air. If you have TRX, hold it. If you don’t, I wouldn’t go all-in right now TRON price prediction. It’s also a nice dip, but you need to be more concerned with % growth not TRON price prediction per coin. Tron price just did a fuckload of growing, so don’t expect another rocket ship on Tron price for a week, at least.
Will the TRON coin price reach $100?
TRON’s enormous potential has been predicted but at its current growth rate getting to $100 will take a lot of time and effort as well. To predict if the coin will get to $100, let’s look at these figures:
The current total circulating supply of TRX is 66,682,072,191 TRX. If TRX was to get to $100, how much should investors spend? To get the figure, we multiply TRX total supply of 66,682,072,191 TRX by $100 to get a total market capitalization of $6,668,207,219,100.
Will TRX get to $100 in 2020? With less than eight months before 2020 ends, it would be a miracle for TRON TRX to get a realistic total market capitalization of $6 trillion. High stocks such as Apple took 20 years to reach $1 trillion.
Is TRON (TRX) a good investment?
Generally, investing in TRON TRX today looks auspicious. The development of the digital asset cannot be classified as explosive, but its positive movements can be noted. It can be a shrewd outlay in the long-run.
TRON’s well-outlined road-map with date-set milestones and the rise in demand for digital content at a lower cost makes it an encouraging project in the blockchain industry. TRON’S prospects are also fostered by the massive support of wealthy and settled Chinese venture capitalists.
As with any other digital currency, TRON is the subject of absolutely different points of view. Some people like TRON, while others dislike the cryptocurrency. TRON is regarded as one of the most hated digital currencies. Some people condemn the project for lacking an approach plan, and the controversial PR stunts of its founder. Nevertheless, there are a lot of others who actually believe in TRX price prediction.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.