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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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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