TRON offers worldwide free entertainment content by eliminating the role of a middleman such as YouTube, Google, Spotify, etc. The tokens of TRON can do much more than one service. Many other providers will be building on the TRON technology, which means it has great growth potential. People can introduce new ideas on the platform by joining the ecosystem.
The founder of the TRON is Justin Sun, who is known as a founder of Peiwo; he has also worked with Ripple and is well respected in the technology sector.
There are many partnerships that are forming on the TRON blockchain like oBike, which is a bike-sharing company, is about to launch oCoin on the platform. You can easily exchange your oCoin for TRX. Looking at all the aspects, we can say that TRON is a long term buy and hold, and the current dip in the price of TRON offers a great opportunity to buy-in.
TRX/USD Technical overview
TRX is one of the well-known cryptocurrency in the crypto market. It holds 18th place in the top 20 cryptocurrencies in the world. TRON is an open-source blockchain network launched in 2017. The platform allows anyone to store, publish, and distribute entertainment content. It provides free access to virtual entertainment all over the world. The developers want to integrate the blockchain technology for decentralized and free distribution of the content. To support the economic part of TRON, a TRX coin was created. TRON uses a consensus-building mechanism that combines the Delegated Proof of Stake and Proof of Work to confirm the operation of the network. The project has unique features like direct transactions making the transfers between the users absolutely free. TRON protocol also allows the game developers to build their own token to monetize the content in decentralized apps.
TRX can be easily purchased from Atomic Wallet via credit card. To buy TRX, you just need to download the app and pass the Identity verification. TRX can be swapped via built-in exchange in the Atomic Wallet interface having over 300 ERC20 based tokens and cryptocurrencies like Ethereum and Bitcoin.
At the time of writing, TRON was trading at $0.011, with the market cap of $782.83 million. The impact of the bear market was very strong on TRON, which is why it fell below cryptocurrencies like Monero and Chainlink. However, TRON is a good investment for the long term.
TRX/USD - Bullish vs Bearish
TRX/USD is currently the most popular trading option, as it has seen very quick growth. There are a few factors that determine the bullish or bearish behavior of TRX/USD like:
- Demand and supply – The high adoption rate of TRX makes its prices to rise. If the public can put their trust in the project, the demand for the cryptocurrency will automatically rise.
- News – Positive and negative news related to TRX also affects its value. The recent media reports telling the partnership of TRON with other big Giants like Samsung and MetalPay boost the popularity of the cryptocurrency.
- PR game- Justin Sun, the founder of TRON, is an expert in marketing. His PR strategy in the future will determine the price of TRX.
- Utility – The public only adopts the technology that has utility. TRON has an innovative purpose, which is why it is going to grow in the future.
TRON brought a huge disappointment to its investors last year. It went down from $0.019454 to $0.013406 last year. However, TRON many still have investment potential for the long term. The current price of TRON is $0.01180616, and by the end of 2020, its price is going to reach $0.004683due to the interest of large institutional investors and more regulators in the field of digital currencies. There is going to be strong fluctuations in the coming 180 days. The highest predicted price is $0.011561 in 180 days, and the lowest predicted price is $0.010520.
Looking at the current market dynamics, it’s easy to say that investors’ interest in the crypto market has faded away, but it’s not the case. The Crypto market will continue to grow along with TRON.