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How Long Until TRON (TRX) Gets to $1?

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Tron

As one of the world’s top cryptos, TRON (TRX) has been under the spotlight a lot lately. Not only did it successfully manage to launch its MainNet, but it also held one of the largest token burns in crypto history. Tron is entering large partnerships with even larger entities every week, and it even managed to purchase BitTorrent recently.

Despite all that, however, its price still continues to evade the increase that TRON enthusiasts are waiting, and many have started to wonder just what is going to happen to it. For now, TRX, just like all other cryptos, is struggling with a mainly bearish market, which only allows short periods of recovery. However, this situation will not last forever, and the situation is bound to become better eventually.

When it does, what can we expect of TRX coin’s value? Many have tried to give their predictions, but before tackling this question, let’s make sure that everyone is on the same page.

A bit about TRON (TRX)

TRON (TRX) is a crypto created by Justin Sun. Its goal is to change the way the entertainment industry works and to become the dominant force in this field. Its platform focuses on content sharing without the need for the third party, and large middlemen like YouTube, Facebook, and alike.

Even though it was created on Ethereum’s network, and has spent most of its life as an ERC-20 token, it successfully launched its MainNet in June, and it transferred all of its tokens to their native blockchain. The ones that were left behind were burned, as mentioned previously, and the event included burning of 1 billion worth of TRX.

TRON’s blockchain is extremely fast, and it can handle over 1,000 TPS (Transaction Per Second). It uses a PoS consensus mechanism, as well as Lamport Algorithm, that is being used for wallets. TRON also has a large and extremely dedicated community that is constantly refreshing their Twitter in expectation of Justin Sun’s new progress announcements.

TRON’s performance so far, and 2018 expectations

TRON has never been known for Bitcoin-like prices, and even on top of its game, back in December 2017 and January 2018, it’s top price was at around $0.25. However, that was seen as an excellent stepping stone, and TRON has had a lot to accomplish at that time. These days, a large part of that to-do list has already been checked, but that doesn’t mean that TRON is out of ideas regarding where to go next.

As mentioned previously, TRX’s goal is to transform the entertainment industry, and almost everything that was done so far was only a preparation for executing this plan. Still, when the market turned bearish in January, TRX’s price dropped down to $0.037. Still, it managed to remain within the top 10 cryptos on CoinMarketCap until recently, and it currently holds the rank of 11, with its price being $0.034461.

Obviously, the price did not advance much when compared to the beginning of the year. However, this is a good thing, since it demonstrates that the coin is stable, despite the low value. In fact, the only large change in TRX’s price came in mid-May, when the price experienced a large spike up. With that in mind, we can say that the current price of TRX ($0.034461) might be the bottom for this crypto and that it can only go up from here.

Now, when it comes to price expectations for this year, there are a lot of them. We have already passed the first half of 2018, and it was not especially good for cryptos. However, the second half is expected to be the one that will change things for the better, especially as we are nearing the end of the year.

Some experts believe that TRON will reach $0.1 in 2018 and that its value has a potential to go to $1 per coin in the next several years. Obviously, these expectations are pretty modest and realistic, and many TRX enthusiasts believe that this is exactly how the situation will play out. The fact is that TRON is not losing popularity and that its user community is growing rapidly. This is one of the most important factors for price predictions, but more about that in a few minutes.

Facebook’s great expectations

Obviously, predicting the price of cryptos is not exactly something that is written in stone. Even the traditional market is known to take unexpected turns, and in the crypto world, the market changes all the time. The further we go into the future with price predictions, the less accurate they are. Even so, a lot of crypto enthusiasts enjoy to make such predictions, so we thought that some of them were worth mentioning.

A large part of the crypto community believes that TRON’s next big achievement will be reaching $1.7. Nobody really wants to put a time stamp on this prediction, but the general belief is that this will happen in the next 5 to 10 years. Facebook, however, seems to think more highly of TRON, and their prediction is that TRX will skyrocket all the way up to $31 per coin.

Of course, nobody expects that TRON will kill off Bitcoin (BTC), not even Ethereum (ETH) Still, many expect that TRON is the necessary step for the improvement of the entertainment industry. This is almost a guarantee that TRON will survive any potential crypto elimination period that might come. Additionally, as more investors join TRON, its price can only go up, whenever the market decides to allow such development.

So, despite all the bad that happened in 2018 so far, the predictions for the future seem pretty bright.

What influences price predictions?

Finally, we should cover what is it that the crypto enthusiasts are using for making their price predictions. There are several aspects that are entering these equations. The first one is the coin’s implementation. Basically, what this means is that the more use TRON gets in the future, the more valuable it should become.

TRON has been known for announcing partnerships left and right recently, and more are expected to come. Some have even speculated that TRX might partner up with Twitter, thanks to a recent visit from Twitter’s officials.

Next, a large part of the increase in TRX’s price came once the coin managed to separate itself from Ethereum’s blockchain. So, basically, independence is a big factor for these predictions, since it shows that the coin is self-sustainable and stable. Before their separation, TRON was giving away all the greatest vibes, but there was still a silent question regarding its capability to survive without Ethereum’s reputation backing it up.

Now, we see that TRX is legit and that Justin Sun’s big talks were not empty promises.

Finally, the last factor used for predicting TRX prices is the number of coins released in circulation. Currently, TRX has around 65.7 billion coins going around, and it is expected that this number will only continue to grow as the time passes. Eventually, it is expected that TRX will hit its total supply, and release all 100 billion coins. This, however, is a bad thing for the coin, since its value gets lower as its number goes up. Still, it is possible that the other factors will be strong enough to overcome this issue.

Conclusion

The fact is that calculating a price of crypto in the next 2, 5, or 10 years is next to impossible. At least, it is impossible for anyone to give an accurate prediction. Still, from everything that we have seen so far, all predictions are positive, and great things are expected to come from this crypto.

The things that we mentioned as factors determining the price are only some of many, but they do fall into the category of the most important aspects. In the end, there is no certainty when it comes to cryptos or the crypto market, and the only thing that can be done for now is to wait and see what will actually happen.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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