HFM information and reviews
HFM
96%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
Vantage information and reviews
Vantage
85%
MultiBank Group information and reviews
MultiBank Group
84%

Deep-Dive With Us: What Is Tron?


What comes to mind when you think of the word "Tron?" For some, it's a cheesy 80's movie. For others, it’s a promising blockchain platform. In today's article, we'll take a look at the latter - read on to learn about Tron and its cryptocurrency, Tronix, how TRX performed in 2020, and expert forecasts for 2021 and beyond. 

Deep-Dive With Us: What Is Tron?


Tron is a decentralized platform that uses P2P and blockchain technology; its purpose is to share entertainment and other forms of content. Think of it this way: Tron is essentially a next-gen social media platform, in which you can create and share content with absolutely anyone - no matter where in the world they live. And you can get paid for creating and sharing content and data. 

Tron is a next-gen social media platform for creating and sharing content. With Tron’s cryptocurrency ecosystem, content creators are paid with Tron’s basic blockchain unit of accounts: Tronix - which is often shortened to the ticker symbol TRX. 

This is revolutionary: many social media platforms gather and monetize data from users, and the account holders never gain any benefits. Take Facebook, for example. This social media giant collects data on almost everything you do on the web, but you certainly aren’t going to receive compensation for it. Tron has a different vision: for each social media user to be in control of their data and to be compensated for what they share. 

How Is Tron Used?


The most significant advantage of Tron is that you can empower content creators and artists worldwide. This platform is at the forefront of a digital revolution that is often referred to as Web 3.0. Essentially, platforms such as Tron will help the Internet fulfill its original purpose: to be an open, decentralized network. Is Tron the way of the future for content sharing? We think so. Tron is at the forefront of a digital revolution to make the Internet an open, decentralized network. 

Throughout the “dotcom bubble,” the Internet significantly veered away from its decentralization. Social media giants rewired infrastructure so that tech giants could rake in profits from user data - but with Web 3.0, the power will be placed back in the hands of Internet users. 

Now, that’s all fine, but how does Tron stand up from a developer’s standpoint? This platform is attractive to developers, as it is built to allow high-level language in smart contracts. Essentially, future developers can apply any programming language they want to Tron’s open-software design. 

Tron’s Potential: The Good, the Bad, and the Ugly


Tron certainly has noble intentions. Putting power back in the hands of internet users and compensating them for their content and data? This seems like it would be widely embraced nowadays. And, in some ways, it has been smooth sailing for Tron - mainly through their success in forming partnerships with big players: 

And this barely scratches the surface. Some other high-profile partnerships that Tron has made include Samsung, Global Social Chain, Baofeng Group, the BitTorrent token, and Baidu. 

The platform has fostered high-profile partnerships like Zag S&W, oBike, and Samsung.

Now, unfortunately, we must address the downsides of the Tron network - namely, its founder, Justin Sun, has a communication style that often angers investors. For instance, Sun may release an announcement… about an upcoming announcement. This can be frustrating for many people, and this has led to Sun developing a reputation as being too young and naive to run a blockchain of this magnitude. 

What Factors Influence TRX’s Price?


Many factors can influence the price of TRX. In order to understand the upcoming TRX price predictions, it’s important to have a solid grasp on what kind of events can impact its value. This way, you will have an easier time monitoring crypto trends, understanding predictions, and even making ones of your own, and, hopefully, turning a profit. 

Supply and Demand


This is the #1 factor that can influence the price of any digital coin. TRX’s price is driven up if its demand is higher than its supply - and when the opposite is true, then the price will fall. Many crypto evaluation platforms are highly optimistic in their Tron coin value predictions, largely because Tron’s high-profile partnerships may drive spikes in demand. 

On the Rise: dApps


The demand for decentralized apps has increased enormously, and Tron has found itself as a big player in the dApp industry - second only to EOS. Investors don’t see this trend assuaging soon - likely, it will continue to grow. As more people choose to directly share content with viewers, and without the interference of Apple, Google, or other third parties, Tron will emerge as the obvious platform of choice. 

Compliance With Global Regulations


We are beginning to see an international shift towards cryptocurrency regulation. Cryptos no longer exist out in the “Wild West” of the financial world - nowadays, they are becoming more compliant with government regulations. 

As international regulations become tighter, cryptocurrencies with more stringent practices will be better off. After all, if a cryptocurrency fails to meet regulations, it could be criminalized. Take Ripple, for instance, which is currently being sued by a regulatory agency. After the announcement, the price of XRP dropped by almost 50% over the course of one week. 

Tron is in a great position to withstand regulatory crackdowns, as it is approved by the ACCA and is supervised by the Company Law of Singapore. 

How the Price of TRX Has Performed Over Time


Let’s take a moment to explore how the price of Tron (TRX) has evolved since it was launched in 2017. As the chart shows, Tron’s standout periods were towards the end of 2017 and the beginning of 2018. TRX hit the crypto exchanges in October of 2017 with a price of about $0.002. Just a couple of months later, TRX experienced its first large leap; from December 4th - 18th of 2017, the price jumped from $0.003434 to $0.043127. Then there was another leap a short while later! In the first week of 2018, Tron met its all-time high, but then it quickly dropped during the next couple of months. 

However, TRX was not the only cryptocurrency to experience such a huge jump during that point in time, so it would be wrong to assume that it was simply due to the newness of the platform. During that same timeframe, Bitcoin hit its own ATH, and Ripple grew by 36,000%. Almost every cryptocurrency skyrocketed in price, with most of them hitting their all-time high and then subsiding afterwards. 

So, how did TRX fare after this initial boom? 


The coin managed to remain stable throughout the next two years - that is, until the “COVID Crash” that took place in March of 2020. However, once more, TRX was not the only cryptocurrency to experience a large price fluctuation. 

How Did Tron Do in 2020?


Taking a closer look at the COVID crash: in early March, TRX fell from $0.017251 to $0.010578. Interestingly enough, Tron was already experiencing a bearish run from the very beginning of 2020 and felt the market effects of COVID before other cryptocurrencies did. Some analysts speculate that this is because the Tron Foundation is based in Korea, and its geographic location means it felt an economical impact before other continents. 

However, we have good news! TRX managed to recover from the crash - at the time of writing, its price is $0.029834. TRX managed to recover from the crash and rise from $0.010578 to $0.029834.

Realistic Short-Term Prediction: How Will Tron (TRX) Do in 2021?


According to expert forecasts, the price of Tron is going to increase slowly throughout 2021. The experts at TradingBeasts anticipate that TRX will start the year with an average price of $0.035 and close out at $0.038. Wallet Investor released a Tron price prediction of its own, which is quite bullish - they noted that TRX could reach as high as $0.0756 by the end of 2021. 

In comparison to Wallet Investor’s forecast, TradingBeast’s prediction might not seem too promising. However, even with less gains next year, TRX is actually in a good position for longer-term growth. While TRX likely won’t see rapid hikes that carry it to $10 in 2021, it should instead show continuous, healthy growth as Tron’s technology continues to be adopted by content creators and data sharers. 

2022 Forecast


Most analysts agree that Tron will only be moving up from this point on - that it will continue its growth from 2021 into 2022. Digitalcoin predicts that Tron will start 2022 at an average price of $0.074 and hit a high of $0.089 in November. TradingBeasts’ forecast, on the other hand, is more reserved. As seen in the chart below, they predict that TRX will enter 2022 at $0.048 and finish at $0.054. 

Long-Term Predictions for Tron (TRX): 2023-2025


Let’s take a look at the best-case and worst-case scenarios for TRX. So, the question is: is a best-case scenario or a worst-case scenario more likely? We believe TRX will fall on the better end of the spectrum. 

By 2023, we predict that Tron will have added far more organizations to its high-profile network of partners, thus increasing market interest in the platform. Due to increased exposure, we foresee that Tron will be especially popular among publishing and music startups. So, as the acceptance and adoption rate of Tron and TRX continues to increase, its predicted price will rise in direct correlation. Most Tron coin price predictions place TRX between $0.55 and $0.75 by 2025. 

What's in Store for Tron in 2030 and Beyond?


The absolute potential of blockchain technology has not yet been reached - or even fully realized. However, Tron is one of the only projects that has placed a large focus on the promise it can offer years from now. It is one of the most forward-thinking blockchain projects, which is why many experts believe that it will experience booming growth in a few years. For now, perhaps it is simply ahead of its time. 

As blockchain tech continues to grow more popular and Tron’s potential is better realized within the content creator realm, price predictions for TRX will likely grow larger and actually be reached. Until we see how the project goes, though, it is not safe to conclusively say whether TRX will be a good investment beyond 2030. 

Technical Analysis of TRX Price


Now that you are equipped with vital information about Tron, let’s do a deep-dive into TRX’s price. Of course, this only addresses one day of TRX, but you can see approximately how the coin behaves during an average day in December 2020. After we present our sample technical analysis, we’ll show you how to make an analysis of your own!

At the time of writing, 12/29/2020, TRX ended the day at approximately $0.029471 - an increase of 2.08%, following Sunday’s rally of 4.93%. When tracking the broader market, TRX fell through the FIB level of 23.6% to an intraday, early morning low of $0.02825 before moving upwards. TRX steered clear of the first $0.02617 major support level and rallied at $0.030597 for an intraday, early afternoon high. TRX, however, once again broke through the 23.6% FIB level before experiencing a late pullback to $0.0291. 


Taking a look at the technical indicators:

All right, so we understand that this technical analysis contains a lot of information, and it might seem overwhelming at first. However, learning to create and read technical analyses of your own doesn’t have to be difficult - it just takes some practice. 

First, you need to use a reputable platform with plenty of analysis tools - for example, you can create a Libertex account. Even the demo version contains all real markets, and you can apply whichever indicators you wish. 

After choosing a platform, you’ll need to acquaint yourself with a few key concepts:

The Experts Weigh In on Tron’s Long-Term Forecast


What exactly have the experts been saying on how Tron will perform long-term? We’ve compiled opinions from some of the industry’s best crypto analysts for your perusal. 

So, the question is: to hodl or not to hodl? 


On the one hand, if you play the long game, you can potentially rake in huge profits from sharp increases in TRX’s price. However, holding crypto may end badly - as, with a sharp decline in price, exchanges will close trader’s positions. 

One way to get potential profit in a shorter period of time is to trade TRX as CFD. Want to try this out in a totally risk-free way? Check out the demo accounts at Libertex!

You’ll get 50,000 EUR to practice trading with. Our platform has won awards from World Finance, FX Report, and EuropeanCEO. More than 700,000 users trust our analytical services. Our intuitive platform answers any questions that might arise for beginner traders. Try it yourself - we know you’ll love it. 

Why to trade with Libertex?


FAQ


What Will Tron Be Worth in 2021?

According to various experts, Tron could be worth anywhere between $0.03 and $0.07 by the end of 2021. Its price increase largely depends on the further adoption of blockchain technology among startups. 

Is Tron Worth Investing in 2020?

Yes, Tron is certainly worth investing in! Although it is experiencing slow growth right now, TRX has not yet realized its full potential. 

Does Tron Have a Future?

Even though experts may disagree on the rate at which TRX’s price will increase, they are all in agreement about one thing: it will, indeed, go up. So, yes, Tron does have a long-term future. 

How Much Will Tron Be Worth in 5 Years?

There have been predictions ranging from $0.1 all the way to $1 for XRP’s 2025 price. 

Will Tron’s Price Go Up?

Pretty much all signs point to yes - Tron will continue to increase. Gains will be slow in the short-term but should increase heftily in a couple of years. 

Can Tron TRX Reach $10?

Yes, this is indeed possible, but would likely happen after 2030. 

Will Tron Ever Hit $1?

Various experts predict that Tron will hit $1 at some point between 2025 and 2030. 


RELATED

Some things you need to know about investing in cryptocurrency

Whether you have thought about investing in cryptocurrency for a long time or it is an idea that sprang up recently, there are some things you should know before getting started...

Pros and cons of trading Forex with Bitcoin

Cryptocurrencies are gaining popularity again. It's the perfect opportunity to use them for your trading portfolio, especially the ever-popular Bitcoin. Here's a short...

Stocks CFDs That Could Get a Boost on Black Friday

As the busiest shopping season of the year approaches, consumers are getting ready to open their wallets and swipe their cards away. However, this season is not only...

The Complexities and Nuances of Touch Trading: A Comprehensive Analysis

Touch trading, a strategy employed in the volatile world of forex trading, is a sophisticated approach that requires traders to enter the market at a precise intersection of live price impact with a predetermined price level...

Margin and leverage. What exactly is margin trading?

Margin trading refers to trading with leverage, therefore opening up the possibility of a higher ROI. Leverage is a key forex trading term and is explained in the next section...

Is it Still Smart to Trade in Precious Metals?

Is precious metal trading still traders’ choice? People have been putting value on precious metals since the beginning of time. The price of gold was $35 per ounce in 1971...

Complete Guide to precious metals trading

Both Gold and Silver are considered valuable metals and have been chosen by various clients for years now. Nowadays, precious metals trading...

How To Cut Losses Trading Cryptocurrencies

Even good trading and investment strategies can lead to portfolio losses if the basic rules of money management are neglected. In addition to the basic rules typical for investing...

Pair Trading: Effective Strategies

Pair trading is used by experienced traders as a reliable tool for risk diversification. For the successful implementation of a long-term trading...

Demystifying ECN and STP Trading: A Comprehensive Overview

When setting foot in the trading realm, the first, and perhaps most significant, decision lies in selecting the right broker. The trading platform you choose will serve as your constant ally...

What is a Crypto Saving Account? How to Earn Interest on Crypto?

One of the best ways to earn when it comes to financial markets is through this steady return of interest. While most bond and stock traders understand the ability to benefit from interest accounts...

Understanding Cryptocurrency Market Capitalization

If you have been around cryptocurrencies like Bitcoin and Ethereum for some time, chances are you have heard the term market cap discussed. It is something that helps...

A Guide To Risks In DeFi: Are Exploits A Sign DeFi Is Still Too Risky?

At first glance, decentralized finance, called DeFi for short, is the next big thing in finance, ready to replace traditional banks and financial services that have been around...

VeChain: Is It on the Verge of Massive Growth?

Asia continues to be at the forefront of blockchain development, and VeChain is one of the brightest crypto projects in the region. There are different opinions...

How to Create and Sell an NFT

In 2021, NFT triggered an immense interest across the internet. No wonder: people are ready to pay vast sums of money for NFTs, the cost of which can go up to millions of dollars...

Earnings Season & Its Significance for the Stock Market

Earnings season for the first quarter of 2022 is upon us. Here’s what you need to know and what to expect from the markets during this period. Earnings season refers to the period...

Dogecoin Trading with Leverage

Cryptocurrency CFD trading, particularly with leverage, has garnered significant attention in recent years, and Dogecoin is no exception. When you trade DOG/USD with a reputable forex broker...

What Is Crypto Lending and How Does It Work?

Crypto lending allows cryptocurrency owners to lend their coins to borrowers. They will gain some profit as a result of this. It's more like putting money in a savings account...

What Is the Fear and Greed index?

If you trade crypto long enough, you will eventually come across the term “Crypto Fear and Greed Index.” This article will look at this useful tool, how to use it, and what it can mean for your cryptocurrency investments...

The Ethereum Merge: Everything You Need To Know About The ETH

Traders keep a close eye on all things related to the cryptocurrency industry, especially notable events that could change the landscape of the industry as we know...

XM information and reviews
XM
82%
FP Markets information and reviews
FP Markets
81%
FXTM information and reviews
FXTM
80%
AMarkets information and reviews
AMarkets
79%
Octa information and reviews
Octa
79%
BlackBull information and reviews
BlackBull
78%

© 2006-2024 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.