As one of the world’s top cryptos, TRON (TRX)has been under the spotlight a lot lately. Not only did it successfully manage to launch its MainNet, but it also held one of the largest token burns in crypto history. Tron is entering large partnerships with even larger entities every week, and it even managed to purchase BitTorrent recently.
Despite all that, however, its price still continues to evade the increase that TRON enthusiasts are waiting, and many have started to wonder just what is going to happen to it. For now, TRX, just like all other cryptos, is struggling with a mainly bearish market, which only allows short periods of recovery. However, this situation will not last forever, and the situation is bound to become better eventually.
When it does, what can we expect of TRX coin’s value? Many have tried to give their predictions, but before tackling this question, let’s make sure that everyone is on the same page.
TRON (TRX) is a crypto created by Justin Sun. Its goal is to change the way the entertainment industry works and to become the dominant force in this field. Its platform focuses on content sharing without the need for the third party, and large middlemen like YouTube, Facebook, and alike.
Even though it was created on Ethereum’s network, and has spent most of its life as an ERC-20 token, it successfully launched its MainNet in June, and it transferred all of its tokens to their native blockchain. The ones that were left behind were burned, as mentioned previously, and the event included burning of 1 billion worth of TRX.
TRON’s blockchain is extremely fast, and it can handle over 1,000 TPS (Transaction Per Second). It uses a PoS consensus mechanism, as well as Lamport Algorithm, that is being used for wallets. TRON also has a large and extremely dedicated community that is constantly refreshing their Twitter in expectation of Justin Sun’s new progress announcements.
TRON has never been known for Bitcoin-like prices, and even on top of its game, back in December 2017 and January 2018, it’s top price was at around $0.25. However, that was seen as an excellent stepping stone, and TRON has had a lot to accomplish at that time. These days, a large part of that to-do list has already been checked, but that doesn’t mean that TRON is out of ideas regarding where to go next.
As mentioned previously, TRX’s goal is to transform the entertainment industry, and almost everything that was done so far was only a preparation for executing this plan. Still, when the market turned bearish in January, TRX’s price dropped down to $0.037. Still, it managed to remain within the top 10 cryptos on CoinMarketCap until recently, and it currently holds the rank of 11, with its price being $0.034461.
Obviously, the price did not advance much when compared to the beginning of the year. However, this is a good thing, since it demonstrates that the coin is stable, despite the low value. In fact, the only large change in TRX’s price came in mid-May, when the price experienced a large spike up. With that in mind, we can say that the current price of TRX ($0.034461) might be the bottom for this crypto and that it can only go up from here.
Now, when it comes to price expectations for this year, there are a lot of them. We have already passed the first half of 2018, and it was not especially good for cryptos. However, the second half is expected to be the one that will change things for the better, especially as we are nearing the end of the year.
Some experts believe that TRON will reach $0.1 in 2018 and that its value has a potential to go to $1 per coin in the next several years. Obviously, these expectations are pretty modest and realistic, and many TRX enthusiasts believe that this is exactly how the situation will play out. The fact is that TRON is not losing popularity and that its user community is growing rapidly. This is one of the most important factors for price predictions, but more about that in a few minutes.
Obviously, predicting the price of cryptos is not exactly something that is written in stone. Even the traditional market is known to take unexpected turns, and in the crypto world, the market changes all the time. The further we go into the future with price predictions, the less accurate they are. Even so, a lot of crypto enthusiasts enjoy to make such predictions, so we thought that some of them were worth mentioning.
A large part of the crypto community believes that TRON’s next big achievement will be reaching $1.7. Nobody really wants to put a time stamp on this prediction, but the general belief is that this will happen in the next 5 to 10 years. Facebook, however, seems to think more highly of TRON, and their prediction is that TRX will skyrocket all the way up to $31 per coin.
Of course, nobody expects that TRON will kill off Bitcoin (BTC), not even Ethereum (ETH)