Tron Price Index – Real-time TRX rate
Tron Price Live Performance Indicators
Tron Price Summary
Tron is having quite a year, having registered an impressive 87% growth year to date. Tron (TRX) opened the year at $0.0133 and quickly climbed to $0.0259 by February 14. However, the TRX price came crashing down, and in one month, it had lost 65% of its value. But this performance was not unique to TRX because the total market capitalisation of the entire cryptocurrency market declined by 59% to $126 billion in the same period.
The digital currency started to appreciate in mid-March, but the upward march has not been smooth. TRX appreciated by 250% from March to August 18, only to correct sharply in under two weeks to $0.0315. Generally, TRX has experienced some strong fluctuations that have had an enormous impact on its value. This tells you that you need always to be aware of such price changes to ensure your investment stays on a profitable path.
Tron Price History
The first token sale for TRX happened in 2017 where the Tron Foundation, under the leadership of Justin Sun, supplied 100 billion tokens. Out of the total, only 55% of the tokens went to investors. At the time of the token sale, one TRX coin was valued at $0.0020.
Initially, Tron was built on the Ethereum blockchain network. In early 2018, Sun and his team shifted the entire project to a proprietary blockchain platform called Tron protocol. In anticipation of the migration, the TRX price suddenly jumped by extraordinary 5,288% to $0.2317. Unfortunately, claims of the Tron protocol white paper having been plagiarised sunk the token’s value back to $0.0551 in under 12 days.
Nonetheless, Tron has continued to be a significant player in cryptoverse, with TRX ranking among the top 10 cryptocurrencies for the better part of 2018. The Tron Foundation acquired BitTorrent on July 25, 2018. Addition of BitTorrent to Tron Network would enable the Tron Foundation to achieve its dream of a decentralised web faster, according to the team. For this reason, more investors grew interested in the coin hence pushing the price up by up to 50% in May 2018.
Tron Price Prediction
The Tron blockchain is one among the few frameworks that rely on a proof of stake system to create new blocks. Although the Tron Foundation is in charge of maintaining the Tron protocol, TRX holders play a significant part in generating Tron tokens through delegated proof of stake. An international network of public nodes helps the Tron decentralised virtual machine to execute decentralised applications (dApps). Because of these factors, the Tron network has a high transaction per second (tps) rate, as well as almost non-existent fees on transactions.
We believe that the high tps and the small fees are the reasons that will attract more people in the direction of TRX. In 2020, the TRX price has already shown the desire to scale new heights. TRX touched one-year highs twice in the space of one month, and there is still energy for better performance.
In 2021 and beyond, the performance of the TRX price will depend on how the Tron network delivers its goal of a decentralised web. Already, the platform has shown the capacity for massive scalability and consistent reliability, which is the reason for excellent performance in 2020. If the Tron Foundation keeps juicing the platform up for better performance, then we are likely to see TRX break above $1 within the first half of 2021.
Expert Tip on the Price of TRX
The last two years have been dramatic for TRX price. TRX peaked at the highest mark on record at 0.3004 on January 05, 2018, and it has never gotten tired of trying to reclaim the peak. The price action after Tron’s acquisition of BitTorrent marked TRX’s place among the top projects in cryptoverse. To pick the best entry and exit points, serious traders perform an exhaustive price analysis with the help of an array of technical analysis tools. Indicators that could be more useful in this endeavour include trend indicators such as Parabolic SAR and volatility indicators such as Bollinger Bands and Standard Deviation.
Tron was founded by Justin Sun in 2017 with the primary aim of decentralising the internet. The project utilised the Ethereum network, especially the smart contracts, during its formative months but later transferred to the Tron blockchain. To further cement its pursuit of the primary goal, the Tron Foundation acquired BitTorrent in July 2018. The Tron Foundation has struck some significant deals such as the partnership with Tether that launched USDT on Tron blockchain. Unlike Bitcoin, Tron is a proof of stake platform that supports faster tps rates. This is perhaps the factor that will propel TRX to better prices in future.
Tron Value Compared to Other Cryptocurrencies
Frequently Asked Questions
Many digital currencies have had a good run in 2020, especially after the COVID-19 pandemic forced a sudden stop to economic activity. TRX is one of the coins whose overall trend for the year is positive. Year to date, TRX price has gained about 87%.
Yes. Tron has so far broken above two psychologically important resistance levels, the $0.02 and $0.03 mark. Given the attention that the coin has been attracting, there is a possibility that TRX is in the last phase of its time at the bottom.
This is a possibility. It is fair to mention that Tron’s pet idea of a decentralised web is catching on. If the world embraces the idea, there is a chance that TRX might take on the responsibility of facilitating transactions in a Tron-based web. When this happens, the huge demand for TRX might quickly push the TRX price past $10.
Not much. The major difference arises from the process of mining TRX where Tron relies on a proof of stake system while other blockchains like Bitcoin rely on a proof of work system. Broadly, the tokens are all the same in terms of facilitating peer-to-peer transactions.
No. TRX has shown a great ability to remain within a reasonable band year to date. This is mainly because of the support it receives from the Tron Foundation and its blockchain solutions. However, this is not to say that the token does not encounter volatility because the entire cryptoverse is highly volatile.