Why is TRX so cheap?
Launched in 2017, TRX is a fairly new coin within the cryptocurrency space. However, this project has seen intense price revolutions since its initial launch price of $0.05. In 2018, a year that is also the golden year of cryptocurrencies, TRON reached an all-time high of $0.30. But this did not last long as 2018 would end badly for cryptocurrencies, TRX dropped in price to $0.01.
Coming from an all-time high of $0.30 to currently trading at $0.15, TRX is cheap.
Experts predict that the price of Tron will probably go up again at some point in the future. But before I wrap up this historical deduction, there are more reasons why TRX is considered cheap at its current market price.
Why has the price of TRON dropped so much?
In the world of cryptocurrencies, Bitcoin directly or indirectly influences the price of other currencies or as it is called altcoins. However, the price of an altcoin, in this case TRX, is determined by factors other than the price of Bitcoin. There is an unwritten rule in cryptocurrencies. When the developers of a coin are constantly in the news for the right reasons; By entering into partnerships, launching more products, and developing new use cases for your coin.
Each breaking news announces a new price.
One of the main reasons for the current price of TRON is its stability, and this, when examined carefully, may be the only reason why TRON, the famous altcoin, will soon rise in price.
How?
TRON was created as an ERC-20 token for the Ethereum network at first. However, TRX's unparalleled success prompted its creators to contemplate creating their own Blockchain. TRX is establishing itself as an altcoin and as it continues to grow and gain more users and followers, its price will not stay low for long.
Will the price of TRON grow?
Some experts predict that the price of TRON will rise again in late 2021 and beyond. The forecasts made by investors on Medium determine that the price of Tron can go up to $1 in the coming years.
On top of that, several savvy crypto investors and credible crypto websites believe that TRX will be able to make a lot of profit for investors in the near future.
TRON is currently among the top 20 coins in the world relative to market cap, and is quite popular in the world of entertainment. Despite its epic crash on the eve of 2018, TRX is gradually gaining momentum and shaping up for a bull run.
TRX is stabilizing and this means that its price is bound to increase. TRON's first bull run was the announcement of its Blockchain. With that established, imagine what your new activities will accomplish for the platform. Create TRC-20 token, transactions currently exceed ERC-20 transactions, and this is a sign of a large adopter base. No hype, just numbers. Difficult proves that the TRON network is thriving.
Activities on a Blockchain are indicators that its price will rise or fall. In the case of TRX, these activities increase daily. And there are three factors responsible for this feat: fast transactions, less expensive transaction costs, and the ability to process large transactions.
TRON has a lot going on; from the TRON wallet to its recent partnership with BitTorrent, these developments will have a positive impact on TRX price going forward. Ripplecoinnews predicts a price increase from $0.16 to 0.40 by the end of the year 2021.
Is it worth buying TRON?
The Tron coin looks like a good long-term bet. An example of a crypto that could be a good buy after its sell-off is Tron (TRX). This Dominant Blockchain Cryptocurrency's Coin Still Has Room to Run
TRON is arguably the coin with the most vocal user followers, this is not surprising because TRX is a decentralized project whose sole purpose is to promote a decentralized internet space.
Like Ethereum, TRON helps developers build and operate complex protocols through smart contracts on its Blockchain. Today, this project is best popularized by Justin Sun, its CEO who is enthusiastic about cryptocurrencies and his transaction speed.
TRON sometimes solicits a lot of emotions. Their exaggeration when placed side by side, their result is measurable. Although there are cases where the promises made by their founder are implausible, the number is staggering. The TRON network has more transactions than the ERC-20 network. This loosely translates to TRON being worth buying.
Furthermore, according to TradingBeast's price prediction, TRX could reach $0.92 by the end of 2022, with the price ranging from $0.076 to $0.98. This price range is projected to continue rising through 2024, with a new price range of $0.96 and $1,112.
Investing in TRX, like any other crypto, does not guarantee immediate profits. However, some have predicted that by 2025 it could hit $2. This is very exciting for all eyes focused on TRON.
With all this going for TRX, is it worth adding to your crypto portfolio this year?
Will TRX bounce back?
TRX, through its Blockchain and support base, continues to grow, and is projected to rise to the level of Ethereum. Although it is a long way from updating this projection, it is closer to leveling its initial all-time high of $0.30.
Tron TRX price could recover as Tron has the ability to accomplish as much as Ethereum. However, because the market is unpredictable, investing in digital currencies is always risky. Despite this, the forecasts for the value of TRON are largely positive and we could see an uptrend in the value going forward.
The brains behind TRX, Justin Sun, is a notable FinTech giant and a protégé of Jack Ma, the founder of Alibaba Group. Justin had already built a name for himself in the Blockchain space. In 2015, he was included to Forbes' China 30 under 30 list, and in 2017, he was named to Forbes' Asia 30 Under 30 list.
Why is this important?
The credibility of the founders of a currency is important in its future.
Justin Sun is able to manage TRON thanks to his vast experience and the quality of his network. Before TRON, Justin was the main Ripple representative in the Greater China area. A position that greatly helped the launch of TRX. In China, his successful app Peiwo has over 10 million users. Justin was able to integrate TRON into Peiwo, and this was a huge boost for TRX. He significantly increased active TRX users.
Deals and moves like the ones he made with Peiwo are similar to what happened with BitTorrent, and you can expect more of that to happen in the future and could see Tron's value recover. Justine Sun is a business-minded technocrat, and she can hope that her next moves will translate positively for TRON.
Is TRX a good investment in 2021?
Ripplecoinnews proposes that TRON is the best option if you are considering a long-term investment opportunity in cryptocurrencies. Highlighting that there is a market forecast that predicts that TRON will rise with a long-term investment commitment of 1325.58% over the next five years.
The question is that TRX, a good investment in 2021, undermines the place of cryptocurrencies in general. The events of 2020 ushered in a new dimension of trading. The pandemic, although it lasts for our reality, was the tap that cryptocurrencies needed to wake up from their lethargy.
There is no way to stop cryptocurrency now. Coins are on a bull run, and if there is any promising coin with an economic entry point, it is TRX. It is still in its capacity building stage and ready for a lockdown.