What is Tron (TRX)? What factors affect its growth? ⭐Check out expert opinions on the TRON (TRX) price movement for the upcoming years.
2021 may go down in history as the year in which cryptocurrencies became mainstream investment vehicles. The population at large got better acquainted with other digital coins besides Bitcoin. As a result, there is a growing interest in the so-called “altcoins.” Among these alternative cryptocurrencies, Tron (TRX) is one of the most promising investments.
How good are the prospects of this coin? Should you invest in it? Find it out in our Tron price prediction article. The following forecast is the result of technical analysis by our cryptocurrency experts with additional insight from other reputable sources.
What Is Tron (TRX)?
Tron is an operating system that is based on blockchain technology. The main focuses of the Tron Network are on distributed file sharing, content creation, and decentralized gaming. It is also a popular platform for building decentralized applications (DApps).
As a decentralized content-sharing platform, Tron aims at removing the middlemen between entertainment content creators and consumers. In this way, content creators will be rewarded directly from their fans without a third-party platform taking a share in the process. In the future, the Tron network will allow content creators to launch their initial coin offerings (ICOs) to monetize their projects. As such, Tron is one of the first tokenization platforms in existence.
History of Tron (TRX)
Tron was launched in 2017. It is the creation of Justin Sun, an entrepreneur that was previously associated with Ripple. Tron did not aim at advancing cryptography or network design. Instead, it used technology previously developed by others. Tron was originally conceived as an ERC-20 token running on the Ethereum platform. But in 2018, it migrated to the Tron network.
Tron came to the spotlight when the Tron Foundation acquired BitTorrent in 2018. Following the acquisition, Tron launched a BitTorrent token on its blockchain in 2019. This move allowed Tron to market a new digital coin to the millions of users that BitTorrent already had. As of August 2021, the Tron Network had more than 50 million users worldwide.
The Tron Network has been developing other projects like Odyssey, a system to incentivize content creators. Future projects to be launched in 2023 and 2025 are currently in the development stages. With such an expansion of its ecosystem, Tron will likely attract more interest from investors. Such growth can push the TRX price higher.
How Is Tron Different from Other Cryptocurrencies?
Tron will have a big impact on the online entertainment industry. Since content creators will be able to connect with their audience without intermediaries, they won’t pay commissions to third-party platforms. As a result, consumers will pay less for the entertainment content they like.
What Can Tron (TRX) Be Used For?
Users of the Tron Network can pay content creators for the content and applications with TRX tokens. For their side, content creators won’t pay any fee to the Tron Network.
Tron (TRX) Price Analysis
The price of Tron at launch was a mere $0.0014 In September 2017. Its price soon rose during the bullish run of 2017-2018. It was sold at $0.04888 on December 19, 2017. It reached its all-time high at $0.3004 on January 5, 2018. However, TRX did not manage to retain its value and its price dropped to around $0.030-$0.040 in the next few months. By the beginning of December 2018, TRX traded at slightly over $0.010. For the next two years, the price of this coin fluctuated with minor ups and downs.
Things began changing in 2021. On January 1, 2021, TRX had a price of $0.02722 and entered an upward trend. On April 15, 2021, it set a local high at $0.1621. By July 19, 2021, this coin price had dropped to $0.05056. However, the TRX price bounced back and set another local high on September 13, 2021, when it traded at $0.1183. It ultimately closed that year at $0.0754.
In 2022, the so-called crypto winter began. Although many cryptocurrencies saw their prices drop significantly, the TRX price roughly fluctuated between $0.05 and $0.09. This token ended 2022 trading at $0.0545, which was not a big depreciation compared to the previous year's price. As of January 16, 2023, the TRX price was around $0.062.
What Affects the Growth of Tron?
As is the case with most cryptocurrencies, multiple factors can affect the growth (or lack thereof) of TRX. To begin with, Tron’s strategic moves like the acquisition of BitTorrent will impact the price of TRX. Also, Tron has put much emphasis on the development of decentralized applications (DApps) lately. The development of DApps in a wide range of categories, from exchanges to gaming, can attract more investors. The result would be an increase in the value of the TRX token.
However, among other factors that can also have a significant impact is a regulatory compliance. It has been rumored that the Tron Foundation was the subject of investigations in the United States and China. Justin Sun has come forward to assure that the accusations of centralized manipulation by the Tron Foundation are unfounded. The Tron network, he said, is decentralized and the Tron Foundation is just one of the thousands of participants.
How to Obtain TRX?
If you are an entertainment content creator, you can obtain TRX tokens as payments from your audience. As an investor, you can purchase TRX from a reputable cryptocurrency exchange. Although you have various options, LetsExchange.io offers the most competitive rates for your cryptocurrency swaps. Additionally, our platform is reliable, secure, and easy to use.
How Much Is Tron Worth?
As of January 16, 2023, the TRX price was around $0.062. Will the TRX value go over the $0.10 line? If so, when will it happen? Please, take a look at our Tron coin price prediction to find the answers.
Tron Price Prediction 2025
Since Tron has planned to launch new products in 2025, Tron price predictions for this year are optimistic. According to PricePrediction, the TRX price can reach $0.22 in 2025, averaging $0.20 that year. DigitalCoinPrice is in line with the previous prediction. Accordingly, the TRX price in 2025 will average $0.21, potentially climbing to $0.22.
Tron Price Prediction 2030
Predicting the TRX price for such a distant future is challenging. Many factors play a role. It is hard to account for all the said factors to produce an accurate Tron price prediction for 2030. It is likely that by 2030, the TRX price will cross the $1 mark. According to PricePrediction, the average TRX price will be $1.28 in 2030, with a potential maximum of $1.49. For its part, DigitalCoinPrice has a more conservative prediction for 2030, with an average TRX price of $0.63, and a maximum of $0.65.
Conclusion: Should You Invest in Tron?
Tron could be a good investment. The project has a well-thought roadmap, and the team behind it has the expertise to attain all of the project’s goals. Its approach to rewarding content creators will likely have a lasting impact on the online entertainment industry. Even though the TRX price will not set unprecedented records, it will remain stable for several years. But it is you who ultimately decides whether to invest in this token.
FAQ
What Are the Advantages of Tron?
Tron has several advantages, but the biggest is its capability to eliminate middlemen in the entertainment content industry. Digital content will be cheaper for consumers if TRX is widely adopted. For their part, content creators won’t have to pay fees to third-party content platforms.
Is Tron a Good Investment?
It might be. The project behind TRX has demonstrated to have a clear vision and the experts to achieve it.
Can TRX Be Mined?
No, you cannot mine Tron because of its proof-of-stake (PoS) consensus mechanism.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.
Stay tuned for further updates, crypto guides, and market insights from LetsExchange. You can also follow us on Twitter, Facebook, Reddit, Instagram, LinkedIn, Medium, Quora, Telegram, Steemit, and Bitcointalk for first-hand information from our team.