Tron is a native coin of the tron network which was first issued on the ethereum network but was later swapped to its own tron network in early 2018. The tron cryptocurrency can be transfered from one tron smart contract address to another without involvement of a third party thus is being considered to be a decentralized asset. The first smart contract address must pay a gas fee in order for the transaction to be initiated to the second smart contract address by the validators running the tron network. Tron holders can also lease their tron coin to the staking pool so that they use them to secure the tron network and to validate any transaction taking place on the tron network. Because of this, tron can be considered to be using a proof of stake consensus. Towards the end of 2017, tron conducted its ICO where one tron was going for around $0.0019. As of 2018, the price had managed to go as high as $0.23 but later dropped to around $0.02 in 2019 followed by another market crash to around $0.007 in 2020 due to corona virus. Currently, the marked is trading at above $0.02. The increase in price to $0.23 was due to more developers starting to join tron network to develop their dapps over there thus increasing the utility function of tron coin which causes its demand to also increase. The decrease in price again to around $0.02 was due to tron holders who had earlier taken part in the ICO dumping their tron to profit from the sudden rise in price . This result to an increase in surplus of tron on the tron network thus causing the price to decline. Since the market for tron crashes in 2020 to around $0.007 due to corona virus pandemic, we can therefore further explain the future price prediction of tron based on the dapps built on tron network as follows;
Dapps built on tron network
The dapps built on tron network will affect the future price of tron by affecting its utility function . Therefore, we can say that when more developers are joining the tron network due to an increase on the revenue of their dapps, then the utility function of tron will also increase thus causing its demand to increase which in turn will cause the price to increase. On the other hand, when the developers on the tron network start to decrease in number due to a decrease in the revenue of their dapps over there, then the utility function of tron will also decrease thus causing its demand to also decrease which in turn will also cause its price to also decline . Here are some of the dapps built on tron network affecting the price movement of tron coin;
1.WINK
This is a gambling platform based on tron network where gamblers can place their bets using tron. If the number of gamblers will increase in number of the wink platform due to higher odds, then the utility function of tron will increase thus causing its price to increase as well since many gamblers will be purchasing the tron in several exchanges where they will deposit them to the wink platform thus causing its demand to increase. On the other hand, when the odds are low, then the gamblers will start decreasing in numbers in search of other better gambling platform thus causing the utility function of tron to decline. This will in turn cause the demand to demand thus causing the tron price to also decline .
2. Poloni DEX
This is a decentralized exchange based on tron network where traders can login into their account using their tron private key. Traders can exchange their other tron token assets back to tron . If the number of traders will start increasing in number on the poloni DEX due to low fees charged, then the utility function of tron will also increase thus causing its price to increase. On the other hand, If the number of traders will start decreasing in number due to an increase on the trading fees charged, then the utility function of tron will also decline thus causing its price to also decline.
3. Friendster.io
This is a social media platform based on tron network where users earn friendster token for sharin
g their posts on the platform. The more posts shared, the more friendster token one earns. The token can be converted back to tron. Therefore, we can say that when it becomes very profitable to post on the friendster platform, then more users will join the platform. Some users will want to advertise their business on the platform using the friendster token. This will make them to cause the utility function of tron to increase since they will be highly demanding for the token using tron coin thus causing the tron to increase in price. On the other hand, when users start to exit the platform due to a decline on the income received when the share their work on the platform, then the demand for the token will decline thus also causing the utility function of the tron to decline. This will result to a decline on the price of tron.
Therefore, we can further explain the future price prediction for tron using bullish and bearish market as follows;
A. Tron bullish price prediction based on dapps built on its network
In a bullish market, the tron market will be moving in an upwards direction. In 2017, tron conducted its ICO. During that time, one tron was going for around 0.0029. As of 2018, the price rises all the way to around $0.23. This increase in price has been due to an increase in the number of developers on the tron network to develop their dapps over there due to monetization of their dapps over there. The price then decline to around $0.02. This decline in price has been due to the dumping of tron by several tron holders including those who took part in the ICO so that they profit from its previous high price. In 2020, there was a market crash due to corona virus pandemic which causes the tron market to crash downwards to around $0.007. Currently, the market is at above $0.01. Here is the tron market;
The above is the tron market in terms of USDT. Two points are being indicated. There is point A and point B. Before point A, the tron market can be seen to be rising all the way to around $0.011890. This increase in price has been due to an increase in the number of developers on the tron network thus increasing the utility function of the tron. Because of this, the demand for tron increases thus causing the price to also increase. Some tron holders sell their tron thus causing the price to slightly decline to point A at around $0.011000. More developers continue to join the tron network due to an increase in the monetization of their dapps thus increasing the utility function of tron which on turn cause the demand for tron to increase. This increase in demand causes the tron to move upwards to point B at above $0.011890. If monetization of dapps on the tron network will continue to increase, then the utility function of tron will further continue to increase thus causing the tron market to continue rising. In one year time, there is possibility of the tron to go as high as $0.03. As a tron investor, this is the right time to buy tron and hold it until when the market moves to around $0.03 since I am bullish for tron market .
B. Tron bearish price prediction based on dapps built on its network
In a bearish market, the tron market will be moving in a downwards direction. In 2017, tron conducted its ICO. During that time, one tron was going for around 0.0029. As of 2018, the price rises all the way to around $0.23. This increase in price has been due to an increase in the number of developers on the tron network to develop their dapps over there due to monetization of their dapps over there. The price then decline to around $0.02. This decline in price has been due to the dumping of tron by several tron holders including those who took part in the ICO so that they profit from its previous high price. In 2020, there was a market crash due to corona virus pandemic which causes the tron market to crash downwards to around $0.007. Currently, the market is at above $0.01. Here is the tron market;
The above is the tron market in terms of USDT. Two points are being indicated. There is point A and point B. Before point A, the tron market can be seen to be falling all the way to around $0.010000. This decline in price has been due to a decrease in the number of developers from the tron network due to a decline in the monetization of their dapps over there thus decreasing the utility function of the tron. Because of this, the demand for tron decreases thus causing the price to also decline as started above. Some existing tron developers purchase some tron in order to use it to pay for transaction cost of their dapps on the tron network thus causing the tron market to slightly move upwards to point A at around $0.011000. The tron network further increases its transaction cost thus declining the monetization of dapps on its network. This causes many developers to continue leaving tron network for other network thus further decreasing the utility function of tron which in turn cause the demand for tron to further decline. This decrease in demand causes the tron to further move downwards to point B at below $0.01100. If monetization of dapps on the tron network will continue to decrease, then the utility function of tron will further continue to decrease thus causing the tron market to continue falling. In one year time, there is possibility of the tron to go as low as $0.007 although am not bearish for tron. If you think this will happen,then you can sell tron at above $0.01500.
Summary
Tron is a native coin of the tron network which can be transfered from one tron smart contract address to another without involvement of a third party. Tron uses a proof of stake consensus thus allowing different developers to be able to stake their tron and earn reward. Developers can also create a token of their dapps on the tron network so that it becomes the utility coin of their dapps. In 2017 when tron conducted an ICO, one tron was going for around $0.0019. The price was able to rise up to $0.23 by 2018 but latter dropped to around $0.007 in 2020 due to corona virus pandemic. Therefore, we can say that when the monetization of tron network is higher, more
developers will join the tron network to develop there while the monetization has been declined due to an increase on the transaction cost, then developers will start leaving the tron network for other low transaction cost network thus resulting to a decline on the utility function of tron which will cause the price to decline. There is possibility of the tron to go as high as $0.03 by end of 2020. This is the right time to buy and hold some tron
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Will trx go up to a hundred dillar price or not? I think it will be sp good in the future, so many people are already using tron these days