Tron digital currency (TRX) is an important cryptocurrency that operates on the Tron blockchain platform. In this article, we are going to examine Tron’s growth from the past to the present and predict its future. Tron was created with long-term goals and to revolutionize the entertainment industry. Cooperation with game developers, streaming media and social networks is one of the reasons for the uniqueness of this digital currency. Tron digital currency was founded in 2017 by a person named Justin Sun (former employee of Ripple) in a non-profit organization called Tron Foundation in Singapore.
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Like many other cryptocurrencies, Tron was initially released as a token based on the Ethereum network, but in 2018 it migrated to its own blockchain (Tron). Investors who bought Tron ERC-20 network in 2017 traded these tokens for TRX digital currency on Tron’s private blockchain in 2018, after which the Tron ERC-20 token was completely removed. To get to know Ripple, read the proposed Ripple digital currency article.
Tron network
The Tron network rewards users who create or share content with some Tron. Therefore, it can be said that the Tron network works as a platform for content sharing. Another advantage of this network is its decentralization, which is very favorable in the field of content sharing. The Tron network allows users to share content without the need for intermediaries such as Google Play Store, Apple Store, or the like.
The growth of Tron from the past to the present
The Tron project with its great ambition and innovative nature has managed to attract many users interested in the digital currency market. According to the research, the future of this digital currency has been assessed as bright. Overtaking the Ethereum network is one of Tron’s most important goals. Also, due to its high speed and scalability compared to other projects, the Tron blockchain is considered one of the best blockchains today. Keep in mind that Project Tron has been very successful in revolutionizing the digital entertainment industry, gaming and its other contributions; Therefore, having a strong, supportive and active community, Tron has been able to make significant progress, and even if the price value of this digital currency does not rise, this network will continue to be strong. If you are interested in ways to earn money by playing games, read the Star Atlas game recommendation article.
The growth of Tron has been very favorable from the past until now; For example, the price value of this digital currency has progressed by almost 900% by 2021, so suppose you bought and held $10 worth of Tron in 2017. According to the mentioned price progress, the price value of your property has reached 90 dollars this year. Predicting the growth of Tron from the past to the present was not and is not a difficult task due to its unique advantages.
The website tradingbeasts claimed that Tron’s average price value will be $1 at the beginning of 2021 and will slowly improve over the course of the year. But Tron’s long-term forecast depends on the number of users adopting it, and if it continues like this, we will probably see a significant price increase from it in 2022.
Tron Technical Analysis
You can learn about the future of this digital currency by analyzing and reviewing Tron’s technical chart. Undoubtedly, the growth of Tron from the past to now has been very favorable and the price value of Tron is expected to be even better in the future. Technical chart indicators in different time frames can display trading situations (buying and selling) differently. Weekly, daily and hourly time frames show the status of various indicators such as moving averages for digital currencies and the dollar. In this chart, the recent price of Tron has broken the bull flag (uptrend), which has shown resistance to it in two weeks.
These flags appear before an uptrend is established. Therefore, Tron’s growth has been shown to be upward from the past to now, and it is expected that this trend will continue in the future. In the continuation of Tron’s path, there are important resistances that must be broken to continue Tron’s upward trend.
Fundamental analysis of Tron
Technical analysis alone is not enough to predict and forecast TRON digital currency. As we mentioned in the article on the differences between technical and fundamental analysis, it is better to use all charts and analysis tools to get more success and luck in forecasting and trading. In general, Tron’s main goal is to cooperate with content producers and remove the middleman. Currently, content producers on YouTube and Twitch use this platform.
FCAS stands for Fundamental Crypto Asset Score, which means fundamental scoring of a digital asset. FCAS results from the analysis and review of the basic principles of the activity of a project, which provides users with the status of a cryptocurrency in the form of a fundamental chart. These basic principles are: Market Maturity, Developer Behavior and User Activity.
Factors influencing the price value of Tron
If you plan to predict its future before investing in TRON digital currency, it is better to first familiarize yourself with the factors influencing TRON’s price increase. Tron’s growth from the past to now has happened based on these factors. Of course, as we mentioned in the Akita and Dogecoin digital currency article, the support of celebrities or the occurrence of a special event may have a direct impact on the increase or decrease in Tron’s price value. But keep in mind that such cases are exceptions and are not effective in every context. For example, in March 2019, Tron and Tether announced their cooperation to introduce Tether on the Tron blockchain network, which experienced a 9.52% price increase after the release of this news. In the following, we introduce some of the influential factors of Tron.
Tron supply and demand
The most important factor that can have the most impact on a cryptocurrency is supply and demand. When the demand in a cryptocurrency is more than its supply, you will undoubtedly see a significant growth of that cryptocurrency, but when this situation reverses, you will face a sharp price drop.
Compliance with regulations
Today, digital currencies, including Tron, have gained a lot of popularity among users. If the government of a country welcomes this digital currency and paves the way for its growth, TRON digital currency will definitely face a favorable price increase. For information about the cooperation of the Iranian government in the field of digital currencies, read the proposed article on the laws of digital currencies in Iran
Decentralized applications
Currently, the demand for services and decentralized applications in the world is very high, and as we mentioned, Tron is the largest reference platform for decentralized applications, and this feature makes Tron digital currency unique. Decentralized programs are one of the most important influencing factors in Tron’s growth from the past to now.
Tron network partners
The Tron network has been able to cooperate with large companies so far, which has had a sufficient impact on its growth. In the following, we will introduce some of them to you:
Currently, new Samsung smartphones (from Galaxy s10 onwards) all support Tron.
The multinational bicycle sharing company oBike is one of the other powerful partners of this network, which created its own cryptocurrency (oCoin) in the Tron network.
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