Price Analysis

Tron (TRX) Price Analysis: Growing Tron’s Price Increase Market Investment Longevity

Tron is a blockchain-based decentralized protocol that aims to build a free, global digital content entertainment system with distributed storage technology. It uses the features of blockchain and peers to peer network technology to create a bridge between the content creators and consumers. The protocol allows each user to publish, store and own data, enables content creators to release, circulate and deal with digital assets, and in the decentralized autonomous form decides the distribution, subscription, and push of contents, thus creating a decentralized content entertainment ecosystem. Tron plans to accomplish the goal of creating a worldwide free content entertainment ecosystem by cutting down out the giant corporate intermediaries and returning all the profit earning potential back into content creators work.

Current Scenario

Tron chartAccording to Coinmarketcap, the MCap value of the cryptocurrency is being traded at USD 1,834,804,770, and its corresponding price per coin amounts to 0.027516 USD for the 24h volume of $526,137,693 on April 11 at 14:54 UTC. The current circulating supply of coins sums up to 66,682,072,191 TRX out of a total supply of 99,281,283,754 TRX. Based on this data, TRON is ranked the 11th largest cryptocurrency in the market. The approximate return on investment for this cryptocurrency is calculated to be 1,235.17%

TRX Market Analysis

Coinmarketcap has analyzed the market trend for Tron, and as per reports, the market capitalization of the cryptocurrency traded at USD 1500 million at the beginning of March 2019. The market values have been on an uptrend with no noticeable variations. However, the values amplified from the first week of April. The market grew significantly. The values rose from USD 1,632,018,210 trading at 0.024475 USD on April 02 to USD 1,916,037,965 with the price of 0.028734 per coin. The market capitalization peaked with the values reaching its all-time high of USD 2,081,599,755 trading at 0.031217. The growth percentage is calculated to be 27.55% from its past value. Though the current value shows deterioration from its peak, the overall market has been on an upward movement, giving the bulls an upper hand.

Price Prediction

Tron’s market continues to be on the uptrend making the cryptocurrency a long term profitable investment. Crypto analysts, based on the market trend, estimate the price to grow by 23.07% reaching 0.0327 USD by the end of 2019. The purchase rate per token is expected to increase further to 0.0478 USD by 2020 and up to 0.1739 USD by the end of 2024 with a hike of 554.99%.

Conclusion

Tron’s overall market portrays a significant uprise in values from its past. This points the balance in favor of the buyers. The present market along with its ascending future predictions will return handsome profits on the investments.

Tags

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
Back to top button
Close