Price Analysis

TRX Price Analysis: Can Tron’s Launch of Inter-Planetary File System Save after Embarrassing Childish Stunt?

eToro
  • Tron Coin (TRX) has recently launched the InterPlanetary File System (IPFS).
  • The 2019 target for Tron coin should be 0.055 USD.

After the tweet by Justin Sun anticipating a big release, the coin has inflated. But as soon as the air gets cleared above the whole mystery, the currency faced a crash like situation. However, amidst all these developments, one thing that has been missed was its launch of a decentralized file system Inter Planetary File System (IPFS). This was officially launched five days ago. After the launch, its CEO said, “We’re creating a platform with BTFS, BitTorrent Speed blockchain integration and the BTT utility token to let users quickly and privately interact with each other around the world without a middleman or government intervention.” We predict the Tron coin to rise from the last dip. The aftermath of the childish stunt by the CEO is likely to be short-lived. By the end of 2019, the Tron coin will have its name on 0.055 USD to 0.06 USD price level. Let us look at the current figures of the TRX coin.

TRX Price Current Statistics-

Tron Price Chart - 5 June

eToro Crypto
Tron (TRX) 05th June 09:55 UTC
Rank 11th
ROI (Return on Investment) 1,602.17%
Coin Circulation 66,682,072,191 TRX
Market Cap 2,326,633,082 USD
Tron Price in USD 0.03497864 USD
Tron Price in BTC 0.00000448 BTC
24h Volume 1,321,326,353 USD

Tron Coin (TRX) started the year with a shallow point. However, it showed a sudden rise at a time. The lowest point of the coin except the starting point was on 13th January at 0.02155812 USD. However, the TRX coin soon gained momentum, but that was again short-lived. By the 11th March, the coin had lost 23% of its value in just 43 days. But a big push was given by Justin Sun’s tweet, and the coin was inflated by 42.30% over 11 days, priced as high as 0.037 then. The Market Cap on 05th May was 1,554,856,782 USD, and the value of each coin was 0.02439531 USD. The current market cap and the value of each TRX coin are respectively 49.63% and 43.38% more than the figures for last month.

Tron Price Prediction-

Even with many controversial steps by the head of Tron coin, the coin is likely to have a bullish time ahead. By the end of 2019, the coin may reach as high as 0.055 USD. But the path until this point will be full of ups and downs.

Conclusion-

Potential investors should wait for the right time to buy Tron coins because currently having a long position is a futile option. Long-term holding will give a considerable profit in the next 7 or 8 months.

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.

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