Tron (TRX) Price Analysis: Can the Departure of CTO Derail Tron?

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  • Tron’s CTO resigned over issues on decentralization.
  • Tron surpasses the transactions of Bitcoin in less than a year.
  • The 2019 target rests at $0.08.

The basis behind the creation of the whole cryptocurrency market is to make the currency decentralized- free from anyone’s control. But recently eyebrows have been raised on Tron’s operation style when it’s CTO and co-founder; Lucien Chen declared that he left Tron (TRX) over disputes on decentralization. He later on founded a Volume Network with a special focus on decentralization and security of the coins. However, this even seems to have not impacted the market of Tron the way it should have been. The market of Tron is on the right track, and it is predicted that the coin may even reach 0.08 USD by the end of this year. Before getting into more specifics of price prediction, we should analyze the current figures of Tron.

Current Statistics-

Tron

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  • Tron (TRX) is ranked at 11th in the global crypto market with respect to its market cap.
  • The ROI (Return on investment) stands at 1093.64%.
  • A total of 66,682,072,191 TRX coins are in current circulation.
  • The current market cap as on 11th May at 08:44 UTC stands at 1,615,620,456 USD.
  • The value of each coin stands at 0.024229 USD and 0.00000360 BTC.
  • The 24h volume stands at 780,085,079 USD at the same UTC.

Comparison-

Tron (TRX) started the year with the burdens of past crypto winter at 0.019 USD price. However, it managed to have a good growth for a few days. And a growth line can be seen after the 1st of April market inflation. The market cap on 11th April was 1,839,035,620 USD and the value of each coin was 0.027579 USD and 0.00000531 BTC. The current market cap and the value in terms of USD are approximately 12.14% less than the last month’s figures.

Prediction-

The departure of the CTO of Tron (TRX) could not make much serious impact on the growth path of the coin. In fact, recently Tron’s CEO posted a tweet mentioning Tron in just 319 days has surpassed the transactions of Bitcoin of over 10 years. We predict the coin to reach as high as 0.08 USD by the end of 2019. The long term outlook is also bullish. The value may reach as high as 0.21 USD to 0.30 USD by the end of 2020.

Conclusion-

Acquiring fresh Tron coins is advised now at this low price. Holding for a minimum of 1 year will bring 10 times the current value of the investment.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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