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.
Tron (TRX) is one of the best-known cryptocurrencies today as it has a market cap of over $4 billion and ranks among the top 30 coins by total capitalization. Therefore, let`s take a closer look at what is TRX, what is Tron (TRX) price prediction, and the factors that affect it.
What Is Tron (TRX)?
Tron (TRX) was created by tech entrepreneur Justin Sun in 2017. The TRON project funds were raised through an Initial Coin Offering (ICO), with a subscription of funds reaching 70 million. This was one of the largest ICOs at the time and increased cryptocurrency popularity even further.
Today, Tron has grown into one of the largest cryptocurrencies with a capitalization of over $4 billion, while 24-hour trading volume exceeds $2 billion. The coin ranks among the top 30 coins and has a circulating supply of 71 billion.
At first, TRX ran on Ethereum`s ERC-20 blockchain as it offered a quick and easy solution for running the peer-to-peer network. Later on, the developers of Tron switched the blockchain to their own custom-made solution. The blockchain uses proof of stake mining and validation consensus algorithm and was one of the first cryptocurrency projects to implement this solution.
One of the main use cases and benefits for the TRX platform is the support for content creators and artists by providing ownership over the content they create. This is done by storing and tracking the information about created content and its use on the blockchain.
Therefore, content creators can directly track how their creations are used and what their reward is for producing them. The middle man is eliminated, and content creators get paid directly,
Tron Foundation
The Tron foundation is the governing body of the Tron blockchain. Their aim is to popularise and further develop the blockchain. Based in Singapore, they ensure that the TRX blockchain is regulated and complies with laws. The creator of Tron, Justin Sun, is still the Tron foundation leader and has been listed in the Forbes list of 30 under 30 in Asia.
In 2018, a popular peer-to-peer torrent sharing network – BitTorrent, announced that the TRON Foundation had acquired them as it aims to use TRX token to incentivize and reward users of the network. This created massive interest for the token, and soon, it exceeded a $1 billion cap.
Several other projects and development phases have since been launched, with the most notable ones being the Odyssey, which created a system for incentivizing content creators. Further development phases – Great Voyage and Apollo-enable content creators to build their own brands and issue personalized initial coin offerings to raise funds for their projects.
Further, plans to develop the ecosystem are in line for the future with phases of Star-Trek, which is estimated to launch in mid-2023, and Eternity, estimated to launch in late 2025.
Therefore, we are likely to see interest for Tron , and blockchain itself grow even further in the upcoming years and push the price higher. Let`s take a look at Tron`s previous price history to understand what could the future price look like.
Tron Technical Analysis and Price History (2017-2020)
As seen on the Tron chart, the price of Tron cryptocurrency has seen a good amount of volatility over the past years. After spending the second half of 2019 retracing from $0.04, TRX eventually found support around the exchange rate of $0.11. This resulted in a push higher at the beginning of 2020 as the price set a new higher high, indicating that a new bull cycle has potentially begun.
However, after peaking at $0.026 in the middle of February 2020, the Tron price got heavily rejected to the downside, destroying any bullish price prediction at the time. What followed for the price of crypto was another dump lower. The Tron price pushed through previous support and set a new several-year low at $0.07.
The price started to slowly recover from there on, creating a bullish Tron (TRX) price action structure by the end of the year. In September, the Tron price moved and saw a very sharp spike to the upside, resulting in a brief breakout from the major resistance of $0.04 as it hit a new several-year high of $0.05.
During the following weeks, the crypto retraced towards the previous resistance of $0.22-$0.025 and retested it as a support. As expected by analysis of several well-known traders at the time, Tron price reversed from thereon. After spending the end of 2020 in a consolidation, Tron pushed higher at the beginning of February in a very strong bull run, which resulted in a $0.065 level being reached, beating several predictions at the time.
Tron Price Prediction Forecast
Now, let`s take a look at the long term Tron price prediction for the upcoming years and remember that this is not an investment advice – just an estimate.
What to Expect From Tron’s Price in 2021?
Tron price prediction 2021 is bullish as the coin has already established a new all-time high just under the $0.07 mark. As we have seen in previous bull cycles, Tron can and likely will perform in line with most top altcoins. Therefore, the crypto might end 2021, reaching the 1 USD per coin mark.
As always, the overall crypto ecosystem sentiment is determined by Bitcoin. If Bitcoin continues pushing higher by the end of 2021, the TRX price prediction 2021 of reaching the 1 USD mark will likely be reached.
Long-Term Tron Price Predictions: 2022-2025
Predictions for the long-term price target are hard to make for a market as volatile and unpredictable. Given the current market momentum, we might see Tron reach as high as the $10 mark by the end of 2025, meaning that the price of Tron will grow by a multiple of 150.
TRX Price Prediction 2021
Given the current momentum, the future price of TRX is set to hit 1 USD mark by the end of 2021. According to an analysis by many crypto traders, TRX might continue its momentum over the following months. Therefore, this target for 2021 is a conservative estimate. As of this writing, TRON (TRXBTC) is now finally closing above EMA50 and can start to move higher. We are seeing prices gaining some momentum towards the bulls with good indicators, the RSI is now above 65. We can expect additional growth as shown by the green arrow as long as prices stay trading above 100 (0.00000100).
TRX Price Prediction 2022
Our Tron price prediction for 2022 implies that the current upswing since March of 2020 will continue at the same rate. Considering that Tron has already gained around 700 percent over the past year, we might see TRX growth by a multiple of 30. Therefore, by the end of 2022, TRX should be price at least $2.
TRX Price Prediction 2023
Tron Prediction for 2023 is very theoretical. Much depends on whether the current bull cycle will continue going forward in 2022. Potentially we might see the overall market going into another long-term retracement as seen during previous cycles. However, if the momentum continues to be strong in 2021 and 2022, TRON might reach as high as $5.
TRX Price Prediction 2025
Long term predictions for Tron TRX are hard to estimate. If the price manages to reach the $10 mark, it will imply a price appreciation of over 166 times over the next 4-5 years. If the current momentum keeps on going for another couple of years, we could see this target hit even sooner. That being said, there is no real expected maximum price for the crypto currency and we might see the token
What Factors Affect the Price of TRX?
Factors that affect Tron`s price are the same as with any other cryptocurrency – mainly it’s the supply and demand on cryptocurrency exchanges. Larger deals are often done off the exchanges, therefore, creating a small impact on the Tron price.
Supply and Demand
The supply of the coin naturally comes from the number of tokens that are released into the market every day. In the case of Tron, you can earn a mining reward by staking the coin. As of now, staking TRX offers around a 7 percent annual yield. However, this yield is going to vary over time and based on market conditions.
On the other hand, the demand for Tron comes from investors who want to buy it with the expectation that its long term value will grow. Another motivation for purchasing Tron is the ability to stake your coins, which in return gives you an annual yield.
Staking TRX tokens also gives the power to vote on various issues that the network developers want to solve or features that they want to add. Therefore, by purchasing and staking TRX, you help ensure the TRX blockchain’s consensus mechanism.
Regulatory Compliance
Recently rumors of the United States and China investigating the TRON Foundation and the blockchain itself. In his Twitter account, the founder of Tron Network, Justin Sun, ensured that there are no reasons to doubt the accusations of malpractice as the network is run as a decentralized network. Therefore, claims of centralized manipulation are of no reason since the TRON Foundation is only one of several thousands of participants.
Overall, TRX is compliant with various regulations over the world as any other major blockchain. This ensures the demand for TRX continues growing. Therefore, over time, the crypto market price should continue to rise over the next five years.
The Rise of Apps
Over the last months, the TRX network experienced an increased interest in decentralized applications (DApps). As of now, there are more than 100 DApps running on the blockchain, offering various categories of functionality ranging from exchanges to gaming and gambling.
Websites such as DappRadar offer a quick overview of the most popular ones and how many users have each decentralized application attracted over time. User count ranges from several hundred to several thousand, and this number is expected to grow further over the next 5 year period.
This raised interest for the TRXs blockchain functionality creates an additional interest to invest in Tron. Therefore, creating extra trading volume and market growth for the cryptocurrency market.
Where to Buy Tron?
Tron is available for trading on practically every major exchange, just like Bitcoin or Ethereum. It is one of the best-known cryptocurrencies with a high average trading volume of more than $2 billion per day. As seen during previous bull markets of cryptocurrencies, this number is likely to continue growing over the next five years. Therefore purchasing the crypto shouldn’t be an issue for anyone interested in trading or investing.
How to Store Tron?
Tron offers several options for storing crypto. The basic one is the so-called TRON paper wallet, which involves a basic method of printing out your private keys and strong them on a piece of paper in a place where only you have access. This basic solution comes from earlier cryptocurrencies such as Ethereum.
Other options include Tron Android wallet, Tron IOS wallet, Chrome wallet, Exodus desktop wallet, and the commonly used hardware wallets of Ledger Nano and Trezor. This means that the Tron coin can be stored in as many different wallet options as other well-established cryptos such as Ethereum.
Key Takeaways
Tron is one of the best-known digital assets today. It initially was based on the Ethereum ERC-20 blockchain and later switched to its own custom solution. The founder – Justin Sun, still manages the Tron Foundation, which oversees and manages the blockchain’s development and its surrounding ecosystem.
As mentioned, Tron is available on practically any exchange and sees a daily trading volume of over $2 billion. It is among the top 30 cryptos by capitalization, despite many newcomers to the top such as Polkadot and Uniswap.
If the current price momentum continues, we are likely to see the price of TRX reach the $1 mark. Further on, we might see Tron easily reach the $10 mark.
TRON FAQs
What are the advantages of Tron?
By using Tron, content producers can upload their content and get paid directly from the audience without the need for a middleman. All earned money from the content produced is stored and eventually paid out on the Tron network. Therefore, content production and payment from content users to content creators become decentralized and easier for everyone.
Additionally, censorship is reduced to a minimum, reducing the monopoly effect that large media companies can have on individual content creators and users.
What other use cases does Tron have?
Practically anyone who is producing digital content can benefit from TRON`s platform. This includes video producers, writers, music producers, etc. Additionally, content creators can launch their own ICO`s to raise funds for their individual projects without the need for third-party crowdfunding. Other use cases for Tron include Distributed applications or DApps.
Who established Tron?
Tron was launched in 2017 after being developed by Justin Sun, who is a well-known tech entrepreneur and previously worked for Ripple Labs. As of now, Justin Sun is still the CEO of Tron Foundation, which maintains and develops the Tron blockchain network. Initial Coin Offering for the Tron network raised more than $70 million.
Will Tron reach $1?
Currently, Tron is priced around $0.06, meaning that for TRX/USD to reach the $1 mark, a single coin’s market price would have to rise by more than 16 times. According to data from previous market cycles, this price level is within the current bull cycle’s reach as the price of TRX has increased a lot more in the past. The Coinliker forecasting service promises up to $0.55 per token in 5 years which is the most ambitious potential prediction for TRON. TRON is a really good cryptocurrency with tremendous promise growth, according to them. The TRX’s price will grow as the adoption rate will increase.
Therefore, the price prediction 2021 for the TRX coin will reach the $1 mark by December 2021, given that the current market momentum and overall price increase for crypto markets continue.
How much will Tron be worth in five years?
The Tron (TRX) price prediction is more bullish when we look at the next 5 years, although more complex to estimate. As mentioned, short-term price forecast for the coin is that it will reach the $1 mark. After 5 years, the coin could easily increase in value by 100 times, as seen with various cryptocurrency projects in previous bull market cycles.
Therefore, if Tron (TRX) price manages to move to 1 dollar mark, we might easily see further value increase to over $5 and even $10 per coin. Overall, the TRX Tron price prediction for the next 5 years is very bullish.
Could Tron overtake Ethereum?
According to coinmarketcap.com, Ethereum currently has a market cap of over $200 billion, while Tron (TRX) has a capitalization of over $6 billion. This means that the crypto price would have to increase by 33.3 times just to match that of Ethereum. Even the most optimistic expected growth scenarios and price predictions for the TRX coin’s future would be hard to be met by this kind of market cap size difference.
The forecast is that it will likely not overtake Ethereum worth unless large investors come around and run the price of the cryptocurrency to a new all-time high much faster than that of ETH.
Is Tron a good investment?
Overall the price of Tron should see a new all-time high soon. With the growth of the overall crypto market, the expected worth of the TRX capitalization and the price of the coin should increase further, offering a great investment return. As investors push the price of Bitcoin up, the inflows of new investment should ensure that the Tron coin sees its value increase in the future. Additionally, trading volume for the coin remains consistently strong, indicating good investment and trading amount.
Has the price of Tron changed over time?
When looking at Tron’s price chart, we can see a clear change of price over time. In the first half of 2020, the price hit a several-year low at the $0.01 mark. From there, the price has already increased by six times as it broke above the $0.06 mark. Therefore, the Tron price prediction for 2021 is very bullish.
If the current price momentum continues, we are likely to see TRX hit the 1 dollar mark. By the end of 2021, TRX might reach an even higher price level, and we could see the coin trade at 5 USD, according to many TRX enthusiasts.
Can TRX be mined?
No, TRON can not be mined as Justin Sun – the creator of Tron intended it to use proof of stake mechanism. However, you can earn TRX by staking your coins and earning an annual yield. For further reading on TRX mining, see our comprehensive guide.
Conclusion
Tron is one of the best-known cryptocurrency offerings that any crypto enthusiast has probably heard about. The Tron blockchain technology allows for decentralized apps to be used for creative purposes as TRX focuses on rewarding content creators.
TRX holders can stake their coins and earn rewards in their Tron wallet as part of the Proof of Stake mechanism.
Our Tron price forecast for 2021 is $1. However, likely we will see the Tron forecast changes as the market continues its current bullish cycle. Therefore, the $1 mark for the digital currency should be more of a minimum price target.
As many crypto experts continue to praise the Tron ecosystem, we are sure to see the TRX blockchain project market capitalization grow together with the overall bullish momentum for the market.
That`s it for this Tron price prediction. For further reading, see our guide on Bitcoin halving, as well as a comparison article on Litecoin vs Bitcoin. For another great altcoin, see the long-term Dent token 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.
