Tron (TRX) is the 23rd largest cryptocurrency in the world in terms of market capitalization. More remarkable is the fact that it took Tron just two years to reach this spot. The TRX token's main intent is to be utilized to gain access to particular features on the Tron platform. The network is promoted as a platform for content creators, and their purpose is to develop a direct connection between them and consumers, removing the need for intermediaries such as publishing firms or labels.

TRX is regarded as a virtual currency considering that it is a store of value and can be traded on crypto exchanges. This currency helps confirm transactions within the Tron network and the value started at around $ 0.002 on its first release. You have the option to trade it on different pairs including the two largest cryptos namely Bitcoin (TRX/BTC) and Ethereum (TRX/ETH) plus two fiat currencies Euro (TRX/EUR) and US Dollar (TRX/USD).

As more and more individuals use Tron as a decentralized media platform, the TRX’s rate is expected to rise. Tron is a monumental project that has laid out many prospective milestones to happen in the coming years. Since its launch in 2017, Tron’s price has experienced sharp increase and reached an all-time high of $0.23167 in January 2018.

TRON Breakdown

Tron project’s open-source protocol materialized in December 2017. This took place after an immensely successful ICO that raised $70M in September. The first version of its protocol was created on Ethereum. The following year, in May, mainnet was launched and the genesis block was mined on July 25, also known as the TRON Independence day.

One of the biggest advantages of the Tron network is that users can develop and share content with a blockchain-based P2P network. The Tron blockchain can also host dApps, smart contracts and customized tokens. TRON launched Project Atlas, the world’s biggest decentralized application, in September 2018. The team also released the BitTorrent cryptocurrency token (BTT) in 2019.

TRX cannot be mined since all coins already exist, so there’s no need to generate new ones. But, they can be exchanged on various crypto exchanges.

The team’s ambition was to further broaden adoption by removing inefficiencies like high transaction fees, and low transaction throughput times that oppress the Bitcoin and Ethereum networks. TRON’s network at the moment can manage 2,000 transactions per second (“TPS”).

In comparison, Tron has a transaction speed of 15 seconds, whereas a transaction on Ethereum can be completed at around 6 minutes. Tron could be a permanent long-term project because of its highly laid-out roadmap. This is huge progress and makes it an opportunity for TRX to be the first crypto capable of delivering a real substitute to fiat used for the current POS systems and in daily transactions.

TRON History

Tron seeks to build the future of a genuinely decentralized platform available globally to have a free content and entertainment system that utilizes blockchain technology. Tron was released in 2017 by Justin Sun. The TRON network is run by TRON Foundation, a non-profit organization, which is in charge of running the network with equality, amenability, and transparency.

Created by Justin Sun, who formerly worked for Ripple, Tron (or TRONix) was developed as a content-sharing platform for the digital entertainment sector.

Tron's launch in 2017 was initially running on the Ethereum blockchain using the ERC-20 token. Justin Sun had pushed Tron into the top ten largest cryptocurrencies by market cap. This milestone gave the developers the resources and motivation to launch their own blockchain. In 2018, they migrated from ERC-20 tokens over to TRX tokens that use Tron’s native protocol.

Another milestone to reach, Star Trek is set to launch in mid-2023, is primarily the gaming function and the fifth stage for Tron’s development. Star Trek is a decentralized gaming and market forecasting platform that enables anyone to provide content on the system while raising funds.

TRON Price Factors

The uniqueness of Tron from other top cryptocurrencies keeps attracting investors. Tron’s ideology of modifying content creation in the modern digital age explains the interest in the platform. If the interest in digital content continues to grow, then it will increase the impact on the demand too which will increase Tron’s rate.

Another possible reason for the most recent TRX price rally could be that Bitcoin’s control of the crypto market is getting reasonably weaker, and altcoins such as TRX are eventually getting their moment in the spotlight.

Availability

TRON foundation issued a total of 100 billion coins at the time of launch, 71.6b of which are currently in circulation. TRX is a pre-mined currency, meaning it has been mined before it was launched. But don’t let this stop you from going forth with TRX. Once the demand for this platform gets high, the TRX rate will definitely go up.

Acceptance

The digital world is rallying towards globalization, and the cyber entertainment industry is anticipated to unfold dramatically in the near future. And with the unique approach of Tron that removes middlemen and allows more control to the content creators, Tron is going to thrive in years to come.

New partnerships have previously impacted TRX price increases. Getting more new partners will not only increase the popularity and the number of clients but also draws the attention of other companies to the platform. Which will positively impact Tron's rate and its ecosystem.

In conclusion, any positive developments on the TRON network, which can inspire optimism in investors, can potentially increase the demand and positively impact TRX’s rate.

Government regulations

The legal condition of cryptocurrencies differs in each country and is still unclear. One thing is certain, regulatory announcements have a serious impact on the crypto market. The reality is that if the requirements established by national financial authorities become more restrictive, Tron’s price might suffer.

In Singapore, for instance, Tron is in a great spot to endure regulatory crackdowns, since it is approved by the ACCA and is managed by the Company Law of Singapore.

Global Financial Crisis

The cryptocurrency market, just like any other investments, is affected by a financial crisis, social turmoil and health concerns. In the same way that the recent pandemic hit the crypto market on March 12, 2020. This was a result of lockdowns, businesses and borders were shut down around the globe. Other possibilities would be if when traditional financial systems collapse, investors will seek alternative assets like Tron.

News in the media

Big news in the media is affecting the price of cryptocurrency as more and more people panic because of negative information. On a lighter note, TRX’s price is being influenced by its CEO, Justin Sun. Any PRs published around him attract investors towards the coin. Fresh partnerships or projects imply a hike in the TRX’s rate.

Trading TRON

Tron has definitely caught the interest of many cryptocurrency investors, though it's still not demonstrating the similar signs of adoption as Bitcoin or Ethereum, so there’s a long way to go. It’s also one of the tougher altcoins to buy since not many famous wallets support it. Whether you opt for long-term or short-term trading, we always recommend that you do so through a regulated and reputable online broker.

Signing up to a broker will make your trading process easier. Finding the best one will need time and research as this will be the foundation of your trading. It is best that they have a beginner-friendly user interface with Tron’s chart and other significant trading tools available. In addition, you should also know the fees and inclusion upon signing up to your potential broker. Once you pick a regulated Tron trading site and add funds then you are ready to trade. It is advisable to watch the TRX chart frequently to notice any sudden movement.

Trading Tron has its risks and many benefits too. If you create a trading plan with a solid strategy and predict the market sentiments on the TRX chart correctly, earning a profit will be a success.