TRON is having one of the best uptrends in the cryptocurrency market. Not only did prices double in the past month, but its price-action looks very stable. Usually, when a certain cryptocurrency skyrockets within a short period, a harsh correction happens soon after. For Tron, that’s not the case, as its prices increased slightly but surely over the course of around 40 days. Currently, TRX broke the 10 cents resistance and it looks like it’s heading towards even higher levels. Can you still buy TRX?
What is Tron (TRX)?
Tron is a blockchain that aims to reduce the processing time of transactions. While Bitcoin and Ethereum are able to handle 6 and 25 transactions per second, Tron claims to be able to handle 2,000 transactions per second (TPS). It is a decentralized platform that hosts content sharing and entertainment. Back in 2018, Tron acquired the famous BitTorrent, a well-known website for file sharing.
In their list of goals, Tron is looking to build an all-in-one platform for file sharing through financial rewards, and allowing content creators (especially in the gaming industry) to monetize their work. They also are among the most popular blockchains to host decentralized apps (DApps).
TRON (TRX) has a Healthy Uptrend compared to BTC & Co
Contrary to Bitcoin and other cryptos, TRON (TRX) did not boost prices suddenly, nor witnessed a sudden crash. Its price-action rather was mature and had steady growth. The crypto market did in fact also grow within that very same timeframe, but also did adjust heavily. For TRX, the harshest adjustment was a mere 15%, whereas the upside was more than 100%.
Tron Price Prediction – What will happen to the price of TRON?
After looking at how XRP and ADA managed to reach a 1$ valuation per coin, many people are expecting the same for TRON. In fact, TRX has around 71.6 Billion tokens in circulation, while XRP and ADA have 46.5B and 32B respectively. That’s almost double the supply. For that, we can expect a long-term price of maybe half of ADA, or the same as XRP. With this analysis, TRX can easily reach 1$.
On the other hand, TRX prices breached the $10 cents price mark, and us currently eyeing $15 cents. This represents another 50% price increase if you buy at current prices. But smart traders always account for the worst when investing, hence they place sensible stop-losses. For TRX, that level would be around the $9 cents mark, which marks a strong support.
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