Price Analysis

TRON (TRX): If Bullish Trend Continues, It Might Break Through The $1 Mark

TRON (TRX) is a decentralized blockchain technology that strives to build the future of a truly redistributed internet and global free content entertainment system. It represents an architecture of an operating system based on the blockchain. TRON (TRX) enables any developer to create smart contracts and decentralized applications which include free publishing, owning and storing of data and other content. Massive scalability and consistent reliability of TRON protocol provide a high rate of throughput computing. According to the TRON Foundation, the ecosystem surrounding this network is well-equipped to take on the challenges of the future of the internet regarding the free publishing of entertainment content. Tron is a non-profit organization based in Singapore.

TronAccording to coinmarketcap.com, on April 23, at UTC 08:59, TRON (TRX) was trading at USD 0.025294. At the same time, it’s market capitalization was around 1,686,668,123 USD. Moreover, TRON’s last 24 hours trading volume was approximately 433,994,988 USD. At present, ranked at 11th place, TRON’s Return on Investment (ROI) rate is 1,133.12%. On March 29, TRON (TRX) was trading at 0.023319 USD, however, nothing has changed since then and today after 25-days, it has been trading almost flat at 0.025294 USD with a cumulative hike of 8.46%.

Let’s have a look at historical fluctuations in the price of TRON (TRX):

Time PeriodHighLow
All-Time0.300363 USD
(Jan 05, 2018)
0.001091 USD
(Sep 15, 2017)
Yesterday0.025443 USD0.024635 USD
7-days0.027294 USD0.024414 USD
30-days0.031720 USD0.022169 USD

Surprisingly, yesterday was a good trading day for TRON (TRX) as it opened at 0.025003 USD and wrapped up the day at 0.025153 USD, with an intraday gain of 0.000150 USD (0.60%). The trading volume of TRON for yesterday was 386,932,498 USD.

Prediction:

In June 2018, TRON (TRX) acquired legendary peer-to-peer sharing platform BitTorrent. However, the enthusiasm cooled down soon when it was announced that TRX would not be the native token of BitTorrent. But a new token named BTT will be issued in the place of TRX. If one looks at the highs and lows in TRON (TRX), similar to the rest of cryptocurrency, is closely tied with the fluctuations in the price of Bitcoin. According to various analysis, Bitcoin (BTC) may not see too much action this year, and a similar trend is expected at the price of TRON (TRX). Nevertheless, TRON might see a group of fresh investors coming in after partnering with payment platform PayPal. If this bullish rally that is going on in TRON (TRX) continues for the next few months, it is most likely that by the end of 2019, it will hit the $1 mark.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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