Tron was created in 2017 by a Singapore-based non-profit organization – the Tron Foundation. The platform is headed by Justin Sun who is regarded as one of the most dynamic and enigmatic personalities in the crypto space. Originally based only in Asia, the platform has become global. The blockchain’s native token TRX is ranked as the twenty-fifth largest cryptocurrency in the market. The goal of the network is to become the go-to digital content sharing platform. It has garnered phenomenal interest from users and investors which is translated into the growth of the network.
What is Tron?
Tron is essentially a peer-to-peer network based on the blockchain technology. The purpose of the network is to connect content creators with content consumers by eliminating the intermediaries in between. It also allows developers to create their decentralize apps and host them on Tron’s blockchain. By eliminating the middlemen in the content industry, the platform makes it cheaper for consumers and more profitable for creators – hence, increasing the efficiency of the ecosystem.
The network is completely decentralized where the users have all the control. Content creators earn digital assets on the network by publishing their content. The digital assets on Tron are underpinned by the native TRX token.
Is TRX a good long-term investment?
Tron started off the year with a price level of $0.02695 and climbed towards $0.1621 in April – growing by more than 500% in a couple of years. The performance of the cryptocurrency was commendable although the bull run of 2021 resulted in cryptocurrencies skyrocketing above their all-time highs while Tron was unable to break it ATH of 2018. Tron subsequently crashed in tandem with the market but is underway recovery. It has started off on an upward trend and currently stands at a price level of $0.094. The price has been growing steadily with a 4% increase in the daily timeframe while the weekly performance is up by 25%.
The market sentiment of the cryptocurrency market is largely bullish and; hence, Tron can be expected to reach further higher. However, it may not be able to break it ATH yet as the bullish momentum of the 2021 bull run fell short on it there is little chance of a stronger momentum yet. This does not deter the long-term bullishness of the cryptocurrency. Various projections place TRX above its all-time high of $0.30 established in 2018. Hence, the cryptocurrency has a good long-term potential.
Wallet Investor predicts the cryptocurrency to cross $0.15 in a year’s time and to break its ATH in five years’ time. The five-year price is at $0.376 per their predictions. Digital Coin Price projects Tron will end the year with $0.144. They also estimate a similar price of $0.33 to be reached by 2026.
