TRON (TRX) is a blockchain-based protocol offering a decentralized mechanism for producing content anonymously. It’s also a big player in cryptocurrency in the form of Tron Coin.
Tron Coin harkens back to the early days of cryptocurrency in its attempt to avoid the commercial influence that derailed other coins and several cryptocurrency companies. TRON wants to decentralize the internet by avoiding the fees that go to behemoths like Google and allow the exchange of ideas and content regulated only by network participants.
The company is one of many P2P efforts currently attempting to upend the system. Several applications are on the horizon that has the potential to take the platform to the next level. Uplive's Gifto application is a successful social platform that promises just that.
Tron’s entire ecosystem plays a role in its price, so it’s not uncommon to see the two values linked.
What do we think will happen to Tron Coin this year? Keep reading for the latest in TRON news, price predictions, and whether 2019 will be Justin Sun’s year.
What Is Tron Coin?
Tron Coin or Tronix (TRX) is the currency underlying Justin Sun’s TRON project. It’s the currency used by participants to interact with the platform.
Tron works in a similar way to other content networks. The creators offer up content for purchase by consumers. Users pay for the content using Tron Coin, which in turn gives content creators a stake in the value of the platform and the coin.
As of November 12, 2018, there were 65,748,111,645 coins in circulation out of a total of 99 billion.
Unlike other coins, users don’t mine Tron. They earn it through content creation and promotion.
How To Buy Tron Coin
To buy Tron Coin, you must first purchase Bitcoin or Ether. You can then transfer the TRX you bought on an exchange that caters for both Bitcoin/Ether and Tron.
At present, you have two exchange options including Binance and Bittrex. Both accept TRX as well as Bitcoin and Ethereum and operate in all countries.
At present, there no rumors that Tron Coin could hit new exchanges in 2019. However, that no new options present themselves is not a surprise given Sun’s proclivity for decentralization.
Tron Coin isn’t widely traded and offers few applications outside the Tron ecosystem. The official Tron wallet remains the most popular wallet mechanism for the currency. You can use the TRON Android Wallet for mobile or the TRON web wallet or the Tron Chrome Extension wallet.
Tron also offers a wallet for iOs.
If you want to integrate you Tron Coin into your existing wallet, you can use Ledge Wallet, Trust Wallet, and Free Wallet.
What’s Happening With Tron Coin In 2019
Tron Coin peaked on January 4, 2018, with a price of $0.254791.
With bull and bear markets creating turmoil and a bit of motion sickness for the cryptocurrency community generally, the press found it challenging to focus on much beyond price volatility.
The next year, however, appears to be an exciting one for Justin Sun and his Tron Coin currency. Sun announced several new development projects that stand as a milestone for his fledgling crypto.
The Tron Foundation saw multiple proposals from Sun to develop a more sustainable and developer-friendly system. Proposal 13 is the most talked about proposal. Sun aimed to limit energy to 100 billion, and the board approved. An energy limit comes with two features that will improve Torn overall: better developer support and user experience.
A rise to 100 billion would double Tron’s energy limit from 50 billion.
In December, Sun proposed a new expansion, Proposal 7, to raise the limit again to 250 billion.
These proposals are sorely needed. Justin Sun noted that the network hit 100 million blockchain transactions in just 173 days. However, some critics suggest that Sun spends too much coddling developers at the expense of users. It is unclear whether that is true or if it will hurt him in the next few months.
Tron Coin Price Predictions 2019
Tron’s presence, funding, and price continue to grow, and all indicators suggest that its upward trajectory will continue into and through 2019.
The technical indicator signals suggesting its continued positive performance show that the 100 SMA beat the 200 SMA, which confirms that Tron Coin sees a greater chance of improvement than failure. The price confirms the existence of an inverse pattern that we also consider a sign of an upward trend.
Applying Fibonacci tools demonstrates just how far we can expect Tron Coin to grow. It also ready surpassed Fibonacci’s 38.2 percent extension, and as of the last days of December, the 50 percent extension wasn’t far out of reach.
If selling pressure also grows, we could see a 61.8 percent or even as far as the 78.6 percent extension.
Tron Coin’s performance also looks strong because the state of the market also appears to regain strength after the bearish trend of 2018 and the Bithumb hack.
Overall, 2018 was rocky, but signs of a course correction are evident, and an upward trajectory appears to be on the cards.
Will Tron Reach $1?
Tron has a long way to go to reach a dollar. For it to reach $1 per coin, it must reach a market capitalization of $65.748 billion.
To put that in perspective, Ethereum, the second most valuable coin, is worth $60.248 billion. Tron Coin needs to overtake eight other better-established crypto coins to reach $1. If it does, it will reach the number two spot on the charts and stand a chance to reach that valuation.
Only five days into the New Year, some already predict that $1 is a paltry prediction for Tron.
Analysts say that although it has not yet it the $1 mark, it could grow to $12 by the end of the year 2019. The value of Tron could even increase further and reach $52.91 by the end of 2020.
Is this analysis based on reality? Perhaps not.
Still, it’s worth noting that these massive predictions aren’t new. Back in July, analysts allegedly predicted that Tron’s partnerships could see it hit $16 before the end of 2018. That certainly did not happen, and those partnerships tended to be more smoke than fire.
Tron Partnerships To Look Forward To In 2019
Rumors of potential partnerships flew in the last few months of 2018. With confirmation that Tron intended to partner with Chinese giant Baidu, the internet began to wonder: what does Tron want from Baidu, China’s largest search engine?
In theory, the alleged partnership would likely leave Tron with access to Baidu’s cloud computing resources. There would be no sharing of any blockchain ideas.
What does this offer to Tron? It bolsters Tron’s trustworthiness and security as well as its general presence.
Some say the rumors stoked a fire that had no business burning given that the partnership was less of a partnership than payment for access to services. Moreover, it seemed like an attempt to encourage a bull market based on a ‘partnership’ that did not function.
While Baidu may not be the cash cow Tron enthusiasts hoped for, it still offers promising changes. The announcement certainly did not hurt Tron’s price.
If Baidu wasn’t worth the hype, there are still things to look forward to this year.
The partnerships with Gifto could still present some exciting changes at Tron and for its currency.
More importantly, the acquisition of BitTorrent in 2018 is only in its earliest stages. Access to BitTorrent’s 100 million users presents Tron with a golden opportunity for growth, and it’s unlikely that we have seen the bulk of the benefits of the move yet.
Those 100 million users could mean greater liquidity.
The Bottom Line On Tron In 2019
Whether you love or loathe Justin Sun, it is clear that he and Tron are here to stay. Generally, we are happy about it. The concept and coin open opportunities visible now as well as present a chance to do great currently unspecified things in the future.
Despite the bullish and bearish market swings of the 2018 price trends, there is room from Tron’s price to grow in 2019. However, it is likely to be a far more conservative improvement than even the $1-analysts believe. A price between $0.03 and $0.08 is not out of the picture, but both are still above the coin’s all-time high price.
Interesting partnerships could improve things further. However, those partnerships need to be more than shout-outs on Twitter. They also need to rely on real partnerships, not standard business agreements. Sun might be wise to avoid attempts at a rally by hyping up non-existent partnerships even if the trading agreement is good for business.
What are we looking at in the future? If all comes true, we could wait on TRX to reach $1 in 2025. But once it finally does, the coin has the opportunity to skyrocket.
What do you think of Tron Coin? Is it worth the hassle, or is Justin Sun a game-changing force within the P2P and cryptocurrency word? Share your thoughts in the comments.