What comes to mind when you think of the word "Tron"? For some, it's a cheesy '80s movie. For others, it's a promising blockchain platform. In today's article, we'll take a look at the latter. Read on to learn more about Tron and its cryptocurrency, Tronix, how TRX performed in 2020, and expert forecasts for 2021 and beyond.
What Is Tron?
Tron uses P2P and blockchain technology and it is a decentralized platform. Its purpose is to share entertainment and other forms of content. Think of it this way: Tron is essentially a next-generation social media platform, where you can create and share content with absolutely anyone, no matter where in the world you live. Plus, you can pay them to create and share content and data.
This is revolutionary - many social media platforms collect and monetize user data, and account holders never make any profit. Let's take Facebook as an example. This social media giant collects data on almost everything you do on the web, but you won't be compensated for it. Tron has a different vision: that each user of social networks has control of their data and is compensated for what they share
How Is Tron Used?
The most significant advantage of Tron is that it can empower content creators and artists around the world. This platform is at the forefront of a digital revolution often referred to as Web 3.0. Is Tron the way of the future to share content? We think so.
Throughout the "dot-com bubble," the Internet deviated significantly from decentralization. The social media giants reconfigured the infrastructure so that the tech giants could profit from user data, but with Web 3.0, power will once again be in the hands of Internet users.
Now that's all good, but how does Tron stand out from a developer's point of view? This platform is attractive to developers as it is designed to enable high-level language in smart contracts.
What Factors Influence the Price of TRX?
Many factors can influence the price of TRX. To understand the upcoming TRX price predictions, it is important to have a solid idea of what kinds of events can affect its value. This way, it will be easier for you to monitor crypto trends, understand predictions, make your own, and hopefully make a profit.
Offer and demand
This is the first factor that can influence the price of any digital currency. The price of TRX increases if its demand is higher than its supply, and when the opposite occurs, the price will fall. Many crypto appraisal platforms are very optimistic in their predictions of the value of Tron coins, largely because Tron's high-profile partnerships can generate spikes in demand.
Demand for decentralized applications has increased tremendously and Tron has become a huge player in the dApps industry, second only to EOS. Investors do not believe this trend will disappear anytime soon, it will most likely continue to grow. As more people choose to share content directly with viewers, and without interference from Apple, Google, or other third parties, Tron will emerge as the obvious platform of choice.
How did Tron fare in 2020?
Taking a closer look at the collapse due to COVID: In early March, TRX fell from $ 0.017251 to $ 0.010578. Interestingly, Tron was already experiencing a bearish streak since early 2020 and felt the effects of COVID on the market earlier than other cryptocurrencies. Some analysts speculate that this is because the Tron Foundation is based in Korea and its geographic location means that it felt an economic hit earlier than other continents.
However, we have good news! TRX managed to recover from the collapse. As of this writing, its price is $ 0.029834.
Realistic Short-Term Prediction: How will Tron (TRX) do in 2021?
According to experts' forecasts, Tron's price will slowly increase throughout 2021. TradingBeasts experts anticipate that TRX will start the year with an average price of $ 0.035 and close at $ 0.038. Wallet Investor published a Tron price prediction of its own, which is quite bullish - they pointed out that TRX could hit as high as $ 0.0756 by the end of 2021.
Compared to Wallet Investor's forecast, TradingBeast's prediction may not look too promising. However, even with less profit next year, TRX is in a good position for long-term growth. While TRX will likely not see rapid rallies to take it to $ 10 in 2021, it should instead show continued healthy growth as content creators and data sharers continue to embrace Tron technology.
Forecast for 2022
Most analysts agree that Tron development
will only move forward from this point, continuing its growth from 2021 to 2022. Digitalcoin predicts that Tron will start in 2022 at an average price of $ 0.074 and peak at $ 0.089 in November.
TradingBeasts' forecast, on the other hand, is more reserved. As seen in the table below, they predict that TRX will start 2022 at $ 0.048 and end at $ 0.054.
So the question is: is the best case or the worst case more likely? We believe that TRX will fall at the better end of the spectrum.
Long-Term Predictions for Tron (TRX): 2023-2025
By 2023, we predict that Tron will have added many more organizations to its high-profile partner network, thereby increasing market interest in the platform. Due to the increased exposure, we anticipate that Tron will be especially popular with publishing and music companies. So, as the acceptance and adoption rate of Tron and TRX continues to increase, their expected price will increase in direct correlation. Most of Tron's coin price predictions place TRX between $ 0.55 and $ 0.75 by 2025.
What awaits Tron for 2030 and beyond?
The absolute potential of blockchain technology is yet to be realized, not even fully realized. However, Tron is one of the only projects that has focused heavily on the promise it can offer a few years from now. It is one of the most progressive blockchain projects, which is why many experts believe that it will experience booming growth in a few years. By now, you may have simply been ahead of your time.
As blockchain technology continues to gain popularity and Tron's potential is best realized within the content creator realm, the price predictions for TRX are likely to grow and be met. However, until we see how the project goes, it is not safe to say conclusively whether TRX will be a good investment beyond 2030.