Being among the top twenty cryptocurrencies according to market capitalization, Tron has gotten a large community over a short period of time, Not only did it Launch its MainNet, but it has held one of the largest token burns in history and they also purchased BitTorrent recently.
Tron Hodlers have been expecting the value to increase in price so they can all smile to their banks, Instead, the coin depreciates with an average of 0.3% every 24 hours. For now, TRX, just like all other cryptos are 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.
Even though Tron was born on the Ethereum Blockchain, it has successfully launched its mainnet and transferred all of its tokens to their blockchain, the remaining tokens as it was mentioned previously were burned, A total of 1 billion worth of TRX.TRON’s blockchain is a really fast one, it can handle up to 1000 transactions 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.
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 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.
Despite all said, The answer is very simple. TRX is yet to unfold their major project in Asia. Justin Sun is building a serious team full of experienced developers and creating a massive blockchain platform and digital currency for the entertainment and gaming space. What they are creating is unique and entirely new and revolutionary. What they are trying to invent threatens US tech firms like Facebook, Apple, Twitter and Google.
Finally, the last factor used for predicting TRX prices is the number of coins released in circulation. Currently, TRX has around 65.7 billion coins going around, and it is expected that this number will only continue to grow as the time passes. Eventually, it is expected that TRX will hit its total supply, and release all 100 billion coins. This, however, is a bad thing for the coin, since its value gets lower as its number goes up. Still, it is possible that the other factors will be strong enough to overcome this issue.