Price Analysis

Tron (TRX) Price Analysis: Tron May Continue to Struggle this Week as Well

eToro

Tron (TRX) has been established with an aim to make the internet decentralized in the true sense. It also facilitates payment and settlement system on the base of blockchain technology for providing free and unlimited global entertainment content. The TRON ecosystem also has its own blockchain based operating system in order to create smart contracts and decentralized applications. This operating system will also allow sharing, publishing and owning online data and content. The blockchain based ecosystem offers maximum scalability, and it has the capability of processing transactions at a commendable speed as it uses high-throughput computing.

TronTron (TRX) is ranked 11 according to the size of the cryptocurrencies. The Tron (TRX) coin has a circulation capacity of 99,281,283,754 TRX whereas 66,682,072,191 TRX coins are currently in the market. According to the Coinmarketcap’s data, Tron (TRX) has a return on investment of 1156.53%. The performance of Tron (TRX) has been with many uncertainties this year. The year started with a good market cap value of 1,264,990,889 USD. And as per the latest data, the current value of Market cap of Tron (TRX) stands at 1,696,401,682 USD at 01:56 UTC on 02nd April 2019. The value of each coin is 0.025440 USD, and in terms of BTC, it stands at 0.00000610 BTC at the same UTC. The 24h volume rests at 367,904,609 USD currently.

eToro Crypto

The line of growth has seen both the extremes this year with a shorter interval. Inconsistencies have been the part of Tron. But, the data of the past one month shows a stable growth, but it is struggling to gain momentum. The market cap on March 02, 2019 was 1,555,905,769 USD, and the value of each coin in terms of USD and BTC stood at 0.023333 USD and 0.00000604 BTC. The current market cap of Tron is just 9.02 % more than the value of March 02, and the price of each coin in current price has also grown at 9.03%.

The high growth of February could not last long for Tron (TRX). Since the moment it touched the highest point of this year both in terms of market cap and USD price, it started to fall gradually. It is unexpected that Tron (TRX) would show positive growth as of now, it makes a perfect time to buy at this lower price. The price may further fall down, but not heavily but with a minor margin. Once the buying position is made, it is advised to hold the position for at least double quarters. As Tron (TRX) has some more advancement in the pipeline, the price is likely to inflate. And we predict that once it starts to inflate, within days only, it will reach its highest point. Investors now should look for long-term holding to reap the benefit.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

Related Articles

Back to top button