One should always look forward to investing in diverse cryptocurrencies and expanding one’s portfolio. Tron is a reliable cryptocurrency, and its market capitalization is rapidly increasing, and Tron specially caters to those looking for inexpensive trading in the cryptocurrency market. Tron is a decentralized online platform based on blockchain technology, and it has its cryptocurrency named Tronix (TRX). Justin Sun developed it in 2017.
The platform hosts applications for entertainment purposes and helps in the economic sharing of online content. The platform saw rapid popularity worldwide and reached 50 million users within August 2021.
What Is Tron, Is It Profitable?
The purpose of developing Tron was to control entertainment platforms like Amazon and Netflix. The main focus is to remove the intermediate corporate from consuming media. Tron uses blockchain technology to propel out mediators and lead to the direct sale of the work of content creators to customers. The content creators are paid in Tronix, and there is no need for content creators to pay any transaction charges to Tron. Solidity programming language is used to create apps hosted on the Tron platform.
The cryptocurrency Tronix connects the Tron network with multiple applications, boosting transactions and applications. Transactions on the platform are free of cost, and Tron allows 2000 transactions in a second which is much higher than Ethereum or Bitcoin. The platform provides multiple ways for developing applications that support many users.
Price History of Tron (TRX): Background
A single Tron coin price was about USD 0.0021 in December 2017. Within a month, there was a rise in the price of Tron, and its value became USD 0.25 in January 2018. This hike in price within just a month is significant, and Tron became successful in a very short span of time.
People who had invested in Tron when its low price made significant profits within a short interval. However, the value of Tron was not always on the rise.
By the end of 2018, the value of Tron increased from $0.003434 to $0.043127. Cryptocurrencies were becoming popular when Tron’s price saw a rise between 2017 and 2018, and Bitcoin was priced at $20000 at that time. Bitcoin’s success brought many new coins to the market, one of them being Ripple.
Tron price was fixed until March 2020 when a global pandemic, COVID-19, hit the world. Most cryptocurrencies saw a downfall in price during that time. From $0.017251, Tron’s price dropped to $0.010578 between 2nd March to 16th March, which seems low compared with the other cryptocurrencies. The interest of investors went down, and Tron had to fix the situation.
Tron recovered by the end of 2020, its value being $0.0363 in November. After that, its price saw fluctuations and remained between $0.025 and $0.032 till year-end.
In February 2021, the value of Tron increased to $0.0536 from $0.0356 in 24 hours. The price kept increasing rapidly and became $0.1 in April 2021, and in September 2021, the value was $0.1035.
At present, the value of Tron is $0.06827.
Experts Talk on Tron for Upcoming Years
2021 was hopeful for Tron. It achieved new goals, and the number of users increased, due to which there was a surge in price.
According to Long Forecast, the price of Tron will be $0.061 by the end of 2022, although Digital Coin Price feels that the price will be $0.0975 by the end of 2022. Wallet Investor predicts that the price will be $0.138 by the end of 2022, which is more bullish than the other predictions.
Before investing, you need to do thorough research of the market. Also, you need to check and know more about Tron’s future if you plan to invest for a long time. You should buy coins while the price is low.
Benefits of Buying Tron (TRX)
There are numerous benefits of buying Tron. These include:
- There are no transaction fees charged on Tron, and it has a great transaction per second speed.
- It is a cryptocurrency that has experienced rapid growth, and within a month of its launching, it crossed $108 million.
- The Tron network is safe.
- A person in Tronix can earn because they are the owner and can even earn from staking on a 1:1 ratio. By staking more, one can earn more.
- Tronix can be stored in any wallet like your mobile, desktop, or hardware.
- Ethereum blockchain has influenced Tronix in numerous ways, such as incorporating tokens, dApps, and smart contracts.
You can buy Tron in any crypto exchange like ZebPay.
Conclusion
Tron has become quite popular quickly, and it provides users with many benefits like a high transaction speed per second compared to other cryptocurrencies. However, one should carefully consider the risks before investing in cryptocurrency since it is highly volatile. One should invest only the amount one can afford to lose only after attentively conducting market research.
