TRX or the Tron Coin is a fast-rising cryptocurrency in the digital market. With a decentralized blockchain technology, the creators seek to come up with a free entertainment system where users can upload, send, store, and publish data.
What’s more, Content creators get to own all the rights to the content they share. In the past year, TRX saw an over 500% increase in the past year.
Here’s a look at the TRX coin and its predictions for the future.
What is TRX Coin?
TRX Coin or Tron is the creation of a Chinese Student, Justine Sun who before coming up with the coin worked for Ripple. Unlike other cryptocurrencies that came about with the aim of making online transactions seamless, Justine’s creation was to change the way most sites and platforms publish and use the content.
Also, it helps in sharing of content around the internet without the need of content providers like Facebook and YouTube. The digital coin would be beneficial for creatives, artists, musicians, and other people who use the net.
Tron differs significantly from Bitcoin. TRX is a mobile trading platform while BTC is a PC wallet trading platform. While Bitcoin takes ten minutes for block production, Tron takes fifteen seconds for the same.
TRX processes 1,500 transactions per second while BTC processes seven transactions per second. Another difference is that Tron uses proof of stake consensus mechanism and Bitcoin uses evidence of work consensus mechanism.
Why Should You Invest in TRX Coin?
If you’ve been watching TRX coin news, you must now understand the pressure the coin faces. However, if you’re looking for an altcoin, you need to consider Tron because it’s the 8th largest coin in the market. Some other advantages include:
Factors That Affect the TRX Coin Prediction
The TRX coin prediction depends on certain factors like:
Tron Being an Independent Platform
Tron largely depends on the Ethereum blockchain which casts a shade on Tron Authority. However, this is expected to change as it developers work to make TRX independent and operating on its blockchain. The move will see the coin become more popular, which could further push its price up.
TRX prediction also depends on its level of implementation. When companies start using the digital coin, it will be more valuable. Although Tron is widely available in the cryptocurrency market, it’s not popular with companies dealing with creative content publishing.
The digital coin has over 60 billion coins in circulation. The number will grow with over 100 billion coins released by 2050. Unfortunately, having wide dissemination of the coin only decreases its value, which could affect its price.
Tron Getting into Partnerships
Tron is working on a couple of partnerships with reputable names in the content entertainment industry. Some notable names include Game.com, UPLive, Bitmain, oBike, and more. If TRX gets into meaningful partnerships, this could drive its growth and popularity in the market.
Also, this would lead to future arrangements with corporate partners. Announcements of partnerships in the past have affected the price of Tron.
Introduction of Mainnet
Exodus Mainnet launch took place last year, with its focus being able to provide increased scalability and small fees. Crypto experts believe this will drive Tron’s price.
TRX rose by over 3,650% from December 2017 to January 2018. While specific factors led to that spike, crypto investors feel that this could attract speculators looking to cash in on future price hikes.
Potential of the Coin
The focus of Tron was to come up with a platform where users could publish, store, and own information. TRX planned to cut off the middlemen like Google Play and Apple Store, giving full ownership of data to content creators.
If the coin succeeds in its mission, this could increase its value in the cryptocurrency market.
Limitations That Could Hold Back Tron
Here are some reasons why Tron may not gain value within the next few years.
Overreliance on Justin Sun
Some people argue that Tron’s overreliance on Justin could be a setback. For example, if he decided to move on to other projects or his credibility suffers a huge blow, this could negatively affect Tron’s potential to grow.
Critics feel that Tron’s misleading announcements about corporate partnerships could be a drawback. A negative public perception decreases the coin’s value in the crypto market. In January 2018, a headline in TRX coin news was how critics accused the creators of using questionable marketing tactics to hype its partnership with a Chinese firm.
Back in 2018, plagiarism allegations hit the company. IPFS and FileCoin accused TRX of copying parts of their white paper. However, Justin responded citing white paper issues and lack of referring due to translation errors. The news had a significant impact on public perception of the coin.
If TRX fails to achieve widespread adoption, this could hold the digital coin back. Tron needs to contend with established names like Google Play, Apple Store, Instagram, and Facebppl. Well-known platforms like Po.et and LBRY are also big names to compete with in the content space.
TRX Coin Prediction
Tron got an all-time high back in January 2018. However, its price has had a -96% drop and trades at -0.015. Over the last few months, the token has had its ups and downs as this hasn’t been a long fall.
The company thought the launch of Tron’s Mainnet would help increase the token’s value. The move from Ethereum blockchain would mean the company was now independent and ready to run the show. Nonetheless, this hasn’t improved its price.
Crypto experts thought that TRX would be an alternative to Ethereum as it would be cheaper, but the market isn’t favorable as its market cap is down since May 2018.
One possibility is that the coin could go up to $0.7 from the current $0.06 in a period of 15 to 18 months. The first quarter of 2018 saw a strained altcoin that was fighting hard for a settlement.
At this point, investors can buy TRX coins hoping that the future will promise better returns. The only catch is that they’d have to wait for a year to see any change.
Another scenario is where Tron would hit a $0.3 mark in a year. What this means is that if you invest now, you could get a 5x returns. However, this is speculative and requires patience. The coin dictates the future of entertainment, which may give it unexpected gains.
The Outlook of the Tron Coin
According to Walletinvestor.com, Tron could be a consistent long-term venture. A visitor to the site believes that the coin’s amazing evolution guarantees its success in the future. Nonetheless, experts think that investing in Tron could be a risk.
In January 2018, one TRX stood at $0.0824, and the price projection for January 2023 will be $0.000013. Forbes in December 2017 published statistics that indicate Tron grew faster than other digital currencies. According to the site, TRX surpassed Ethereum and Bitcoin, making it one of the best investment.
TRX depends on collaborations with different corporations in the NASDAQ stock market, which positively affects its price. The oBike 10 million partnership will see the firm use a Tron token platform to pay for rides. Reports that Alibaba may be seeking a partnership with Tron due to the connection of both the founders may also have a positive impact on TRX price.
Tron has had its highs thanks to its partnership with Pornhub and its purchase of BitTorrent. The move has led to over 100 million potential users. With its Mainnet and a market cap of almost a billion dollars, the coin may perform better than we expect.
Another positive is that TRX trades on multiple exchanges with a variety of available pairs. Justin, the founder of Tron, has a massive social media following in Asia, which appears to be a positive aspect of the grinding bear market.
Speculators and keen users can assess the price projections to determine if TRX is an excellent investment for the long term. The main aim of Tron is to measure and encourage participants to use a virtual token, which leads to a content ecosystem that works with this currency.
On the downside, Tron has ICOs and a low number of deployed Dapps which may affect the token’s value. It may also suffer another drawback should the SEC decide that the coin is not a utility token, but a security token. The only way to see how this turns out is to read the latest trx coin news to be up to date with what’s trending.
Common FAQs about TRX Coin
Here are some popular questions about the Tron Coin.
What’s Tron Price as of Now?
The average price of Tron between exchanges is $0.03289 max and $0...01355 minimum,
What is the Cause of TRX falling?
Tron, as a digital coin largely depends on the general market situation like the supply and demand of the token. However, the position of other crypto market leaders like BTC and ETH may dictate the price of TRX.
How high can TRX go?
The coin is dependent on the market adoption speed. Although it’s difficult to make accurate projections, you can assess various predictions based on technology adoption cases.