The crypto industry is packed with so many ways to make both passive and direct income, and the well-known avenues for making profits are trading, yield farming, staking, borrowing, and lending of cryptocurrencies. But recently, more doors to make money from the industry have opened through Blockchain gaming. This feature enables individuals to play video games and earn in-game assets in the form of NFTs or other cryptocurrencies.
Several crypto platforms have partnered with gaming firms to drive wide adoption of this new way of earning digital assets; one such platform is Tron, a decentralized cryptocurrency network dedicated to helping build infrastructure for developing a truly decentralized internet.
TRX, its native token, has, in recent times, attracted the attention of crypto traders and analysts due to its use cases and its long-term growth potential. Many of these analysts have predicted what the TRX price will be in the coming years; in this article, we will highlight some of the long-term Price predictions of TRX by price experts, but first, let's talk briefly about the Tron network.
What Is Tron (TRX)?
Tron is a decentralized and open-source cryptocurrency platform designed to help content creators gain full ownership of their creations by cutting out mediators who sometimes underpay or give them only a tiny part of the income made on content like dApps and digital entertainment.
Some tech giants like YouTube, Apple, and Facebook also control the content available to users. This network, on the other hand, not only allows users to create content directly on their platform, but it also incentivizes all who do so with digital assets as compensation for their hard work.
Tron functioned similarly to Ethereum and was, at a point in time, a token on the network before migrating to its network. Like the EVM (Ethereum virtual machine), Tron has TVM(Tron virtual machine), a feature that allows developers to build dApps through the help of smart contracts. Currently, TVM is only compatible with EVM, but there are plans to expand its compatibility with other virtual machines in the future.
Tron is also thoroughly invested in Blockchain gaming, creating some with the help of its partners in the gaming industry, also allowing developers to build Play to Earn games on their network.
Compared to other Blockchain-based platforms, Tron uses a delegated proof of stake (dPoS) mechanism to achieve consensus. This gives the network more advantage over networks that operate on Proof of Work or Proof of Stake mechanisms because it will be far more energy efficient, scalable, cost-effective, and secure.
Currently, Tron blockchain can handle 2000 transactions per second, which is highly commendable because the two largest cryptocurrencies, Bitcoin and Ethereum, can only handle 6 and 25 transactions per second, respectively.
Tronix, or TRX, is the native token of the platform and is a standard TRC-20 token that currently ranks 15th in the crypto market and is worth $0.0612.
Brief History Of Tron
Tron traced its roots back to 2014 when Justin Sun, a business executive and cryptocurrency entrepreneur, conceived and established the idea. However, it was three years later, in 2017, that the platform was launched and came under the management of Tron foundation, a non-profit organization in Singapore created the same year. Initially, Tron was built and operated on the Ethereum network, functioning as a standard ERC-20 token before it moved operations to its Blockchain in 2018.
In 2017 Tron held its ICO (initial coin offering), where the Tron foundation made about $70 million shortly before China banned digital assets. Tron mainnet was launched and went live in May 2018, and by July, the Tron foundation announced their purchasing of BitTorrent, a P2P file-sharing service, and with this, they created the genesis block for their Blockchain. In January 2019, Tronix, their native token, had a market cap of over $1.6 billion, but it has increased to over $5 billion in Just 3 years.
The Protocol Tron Uses
Tron operates on a delegated proof of stake (DPOS) consensus mechanism, which is more energy efficient than POW and POS. This system has two participants: the Super Representatives and super representatives' partners. All account holders are eligible to become super representatives and, in turn, vote for a super representative partner responsible for validating transactions, creating new blocks, and competing for rewards based on good behavior on the network.
Presently Tron networks have a random cast of 27 super representatives partners; new ones are elected every six hours.
Super Representatives partners who successfully create blocks receive 32 TRX rewards for their hard work. Annually Tron awards a total of 336,384,000 TRX to block validators.
In addition, all users can operate three nodes on the Tron Blockchain: solidity nodes, witness nodes, and full nodes. Witness nodes vote on protocol decisions and propose blocks, full nodes broadcast blocks, and transactions, while solidity nodes sync blocks from full nodes and provide Application interfaces.
What Makes Tron Unique From Other Cryptocurrencies?
Tron is a feeless Blockchain network, which means there are no transaction fees; it may seem simple, but in a real sense is a remarkable feat because Bitcoin and Ethereum, the top crypto assets, charge fees for every transaction; Ethereum fees are sometimes more than the profit a developer makes from building dApp on the network sometimes resulting in a loss. In addition, the scaling abilities and speed on the network are impressive, handling 2000 transactions in one second, which highly surpasses the number of TPS on Ethereum and Bitcoin.
Further Tron Smart contract allows the use of high-level language that will enable developers to use any software programming language to build on the network's open software design. Finally, Tron's fundamental principle makes it unique because they reward content creators for building on their web and still lets them retain full ownership of the project; that's quite impressive.
Factors That Influence The Price Of Tron
Like all cryptocurrencies, Tronix is a volatile digital asset that is affected by so many factors, which could either have a negative or positive impact on its price behaviors. In this section, we will consider three factors that affect the price of Tronix and other cryptocurrencies.
Demand And Supply
Demand for a cryptocurrency comes from investors and traders who buy with the expectation that the token will provide yield in the short-term or long-term goal based on its future growth potential. Once there is demand for a cryptocurrency's price, it will increase, signifying growth. But when there is little to no demand, the coin could lose value, becoming useless. For this not to happen, there has to be a motivation to buy.
In the case of Tron, a big motivation for buying is the ability to stake TRX and get rewarded with other TRX tokens or other cryptocurrencies. Also, staking empowers a user to participate in the network through voting actively.
Supply, on the other hand, is the number of tokens released into the market daily, and it's near impossible to downplay the role it plays in the growth and development of cryptocurrency. When there is an unlimited supply, a token could lose value if the level of demand does not meet up with the supply resulting in excessive tokens in circulation. Tronix has a capped supply of 100 billion tokens, and about 92 billion are in circulation.
Sometimes it's easy to see regulatory bodies as enemies because of their strict policy concerning cryptocurrency exchanges and platforms. However, it's important to know that they do this for the good of the platform users and token holders; these policies sometimes restrict organizations from using the funds saved with them for personal gain or platform development, thereby ensuring that users' funds are secured.
Platforms that comply with these regulations often show that they are legit and care about their users. This will, in turn, bring in more investors, increasing demand and the token price. Tron network is very compliant with regulations worldwide, like so many other Blockchain-based platforms in the crypto industry.
News carriers like social media platforms, dedicated news sites, and blogs play a vital role in the growth of a cryptocurrency. Many times crypto assets can go viral due to the broadcasting of news platforms, which in a way, encourage people to buy; this, in turn, builds FOMO in individuals, increasing demand and driving prices skyward.
Recently Tron foundation acquired Huobi global through the help of Samuel Bankman-Fried, the CEO of FTX exchange. Initially, the actual buyer of the exchange was unknown, but as rumors spread that Justin Sun, the founder of Tron, was the actual buyer, the price of the transactions on the Tron network surpassed 4 billion in just 24 hours.
Tronix Past Price Performance- A complete Price History Of Tronix
Tron launched in 2017 on the Ethereum network as a standard ERC-20 token and held its first ICO (initial coin offering) in September, entering the market at a trading price of $0.002. it remained around that range for about 3 months hovering around $0.001 and $0.003. But December brought with it a month of increased activity and the first significant price movement, which took the price of Tronix to $0.004 and increased its market cap to over $1 billion. January 5, 2018, saw Tron's value increase to over 400%, leading it to its first all-time high of $0.30 and a market cap of over $14 billion, the highest value Tronix has ever reached.
However, things began to turn sour because a massive dump followed the increase and sent its price crashing to below $0.06 in just 1 and a half weeks, losing over three-quarters of its value. It continued to remain in that range until April when another upsurge occurred, and the price of the TRX coin doubled in just 24 hrs; however, it could not garner enough momentum to push it beyond $0.10, and it could not sustain the price for long as it gradually crashed back to $0.02 in the space of three and half months.
The two years following saw little activity from Tronix's price; in 2019, it reached $0.04 and continued hovering around that range until March 2020, when it lost over 45% of its value in just one day,y crashing below $0.01. Tronix continued to gather momentum gradually for another five-month, and by the end of August, its prices doubled again, only to hit as fast as it rose. For the rest of the year, it remained relatively volatile but recorded no significant gain until the beginning of 2021, when its prices rose again, breaking the $0.06 barrier for the first time after almost three years.
It continued to experience growth, even rising to $0.10 in October 2021. During the severe bear market that hit the cryptocurrency market and crippled all digital assets in May 2022, Tronix prices continued to hold, even increasing slightly; it fell back to the $0.05 threshold a month later in June but rose back to $0.06 the same month ever since it has continued to hover around $0.06 and $0.07 but has failed to reach its All time high of $0.30 that it achieved in 2018.
How Is Tronix Doing Now?
Tron's current price is $0.05, a 2.77% increase in the last 24 hours, with a daily high of $0.62 and low of $0.49, having a market cap of over $ 5 billion representing a 3.04% increase and a 24-hour trading volume of over $437 million which is 5.5% increase in value.
Even though its current price shows that it has lost 79.40% of its price value compared to its ATH, Tronix still soars high above its all-time low of $0.001091 with a 5569.75% increase, and it is a highly commendable feat for a digital asset to experience an increase during this prolonged bear market that has greatly affected the price of all crypto assets including Top assets like Bitcoin and Ethereum.
Bitcoin, for example, has lost over 71% of its price value and is currently trading at $19,638.64. Tronix, on the other hand, now ranks 14th in the crypto market, having a market dominance of 0.61% and ROI (return on investment) of 2913.59% increase in value.
Current Price Prediction Of Tron
Since May 2022, all crypto assets have been affected by the bearish plumb, prices have crashed low, and several assets have strayed far away from their ATH, while others have lost value, which in a manner of a saying, has been consumed by the bear. On the other hand, several other crypto assets too are trying to stay afloat by moving along with the current trend but not in any way succumbing to it; among these assets are Bitcoin, Ethereum, and Tronix.
TRX is trading at $0.05, representing a 2.77% increase in value in the last 24hrs. This shows that October is proving quite favorable to Tronix's price and could continue with its streak of Goodluck by continually experiencing price growth in the coming months.
Short-Term Price Prediction Of Tron For February 2023
2021 was a pretty rough year for digital assets, including Tronix; it was able to record a high of only $0.11 and had a low of $0.055 all through the year. The bear market that struck in May 2022 made matters worse, making it stray far away from its ATH. However, Price prediction experts have created a short-term forecast of TRX price.
Below is a table showing the short-term Tron price prediction for February 2023
Long-Term Price Prediction Of Tron For 2023
The more significant part of 2022 has been chaotic for cryptocurrencies; even though Tron has experienced some increase this past week, it is still very far from its ATH. However, the year 2023 might prove favorable by bringing along a bullish season that will prompt all assets to increase in value. Price prediction experts have made a long-term TRX price forecast for 2023.
The table below presents the data of Tron price prediction
Long-Term Price Prediction Of Tron For 2023-2030
2030 will be quite a significant year in the crypto industry because its market cap is projected to be over $4 trillion. Also, Tron must have been in operation for 13 years and Bitcoin for 21 years, meaning there must have been wide adoption of cryptocurrencies due to its numerous current use cases and the ones that will be integrated in the future. Price prediction experts have made a long-term Tron price prediction that spans 7 years, 2023-2030.
The table below shows the data for the long-term TRX price forecast for 2023-2030
Long-Term Price Prediction By Experts
The crypto industry is filled with several analysts and price prediction experts who, through careful analysis of the past price behavior of a specific asset, can predict its subsequent movements.
Among the prediction experts in the industry are Changelly, TradingBeast, Cryptonewz, SwapSpace, Primexbt, and PricePrediction. These experts have made deep technical analysis of Tron coin price history and come up with long/short-term Tronix Price predictions.
These experts came to this conclusion after careful analysis, not because they know for certain the next movements of the crypto asset as it's impossible to know for certain what the price of a cryptocurrency will be at a specific time due to their volatile nature, sometimes resulting in price fluctuation. Therefore, always do your research before buying or investing in any cryptocurrency.
Long-Term Tronix Price Forecast By Changelly
Changelly, renowned price prediction experts have made a Tron long-term Price prediction stretching from 2022 to 2030. According to their prognosis, Tron is expected to have a minimum cost of $0.065, an average price of $0.068, and a maximum possible level of $0.072 by the end of 2022. But by 2023, it to an average of $0.098, falling to a likely low of $0.095 and having a maximum price of $0.11, which was its high for the whole of 2021.
By 2024 it will increase to a high of $0.16 and fall to a low of $0.13, having that same price as the average for the rest of the year. 2025 will bring about a high of $0.24 which is quite close to its current ATH of $0.30, trading at $0.21 and falling to a low of $0.20. In 2026 it will surpass its recent ATH by climbing a height of $0.36 as the maximum price, $0.31 as trading cost, and $0.30 as the minimum price. By 2027 Changellys Tron price prediction speculates that it will continue to rise, setting new ATHs. That year, it will have a high of $0.51, a low of $0.42, and an average trading cost of $0.43.
2028 will also increase by $0.73 as the Maximum possible level, $0.62 as the lowest price for the year, and $0.65 as the trading cost. By 2029 Tron will reach $1.08 for the first time as the maximum price; it will fall to a low of $0.90 and remain at an average trading price of $0.92. 2030 the year that completes the Tron price prediction by Changelly will bring about a new ATH of $1.57, a low of $1.27, and an average price of $1.32.
This Tron price prediction by Changelly shows that they have an optimistic view of the token and believe it has much potential to grow beyond its current price value. However, it's only a calculated guess based on careful analysis, but things could still go sideways because of the high volatility of digital assets; therefore, always do your research before investing, as this is not financial advice (NFA).
Long-Term Price Prediction Of Tronix By SwapSpace
SwapSpace, another prominent price prediction expert, has made a Tronix long-term Price forecast but only points out the movement of the token for some specific years, 2022-2025, and then goes right to predict for 2030.
In addition, they made no direct prediction but collated the predictions by several prediction experts. For 2022 they agreed with the price prediction by Walletinvestor that Tronix will drop to $0.054 and continue to drop to zero by the end of the year. By 2023 they contrasted the Tron price prediction by PricePrediction, another prominent price expert, and that of WalletInvestor and TradingBeast. PricePrediction speculates that the token will rise to $0.093 by December; WalletInvestor assumes further growth expecting the coin to rise to $0.11; TradingBeast, on the other hand, has a rather pessimistic view and expect Tronix to crash to zero in 2023.
For 2024 they agreed with the predictions by WalletInvestor, TradingBeast, and PricePrediction. WalletInvestor speculates that Tronix will drop $0.052, and TradingBeast also predicted in unison to WalletInvestor by expecting the coin to drop to 0. PricePrediction also predicts that Tronix will drop to $0.014 in 2024.
2025 they compared the predictions by WalletInvestor, PricePrediction, and TradingBeast. WalletInvestor believes that Tron will continue to drop in value by 2025 and will only be worth $0.007; TradingBeast also shares the same sentiments and also speculates that it will drop to zero. However, PricePrediction has quite an optimistic view of Tron, believing it will rise to $0.094.
2030, which completes the Tron price prediction by SwapSpace, they agreed that most experts believe that it will be full of significant declines for the token. TradingBeast expects it to remain at zero, PricePrediction expects it to drop to $0.30, while WalletInvestor speculates that it will drop to $0.055.
LongTerm Tronix Price Prediction By Primexbt
Primexbt, another price prediction expert, has made a Tronix long-term Price forecast that spans 3 years 2022, 2023, and 2025. According to their Tron price prediction, in 2022, the coin will have a high of $4.50 and a low of $0.25, while by 2023, it will decrease to a high of $2.70 and a low of $0.25, while by 2025, it will rise to $10 and have a possible low of $0.70 ending the Tron price prediction by Primexbt.
LongTerm Tronix Price prediction By CryptoNewz
Crypto news has no direct predictions of its own but, like Swapspace, compares Tron price predictions by other experts.
They decide to go along with the WalletInvestor Price prediction that predicts that Tron will have $0.224 as its maximum price in the next five years.
Tronix Price Prediction By Margex Technical Analysis
Margex is a bitcoin-based derivatives exchange that allows traders to trade with leverage size of up to 100X and, at the same time, stake these leverage tokens to earn from the Margex platform with the help of its unique feature, the trade and stake crypto assets. No prior knowledge for one to be able to stake as Margex carefully designed these features to accommodate beginner and advanced traders. There are no lockup periods, and daily rewards from staking are sent to the staking balance daily.
From the chart above, technical analysts on Margex forecast TRX price prediction based on past price data, use cases, and a vibrant ecosystem. The price of TRX, after hitting a high of $0.15, TRX experienced a huge drop of over 70% due to the current bear market, which has affected many altcoins and projects.
With the crypto market nearing its end with hopes high for a bull run, we could see the price of TRX showing some great price movement.
Frequently Asked Questions About Tronix-Explained
In this section, we will answer some commonly asked questions about Tronix and its network Tron.
What Will Tron Cost In 2025?
Changelly speculates that Tron will reach a maximum of $0.24, while Primexbt expects it to reach $10 in 2025.
Can Tron Reach $5?
According to Tron Price prediction by Primexbt, the coin can reach a high of $10 in 2025
What Will Tron Be Worth In 2030?
Changelly expects Tronix to reach a high of $1.57 in 2030.
How Much Will Tron Be Worth In 5 Years?
Crypto expert WalletInvestor speculates that Tron will be worth $0.0224 as the maximum price in the next five years.
Does Tron Crypto Have a Future?
Price prediction experts like Changelly and Primexbt believe that Tronix will rise in the coming years.
Is Tron Worth Investing?
According to price prediction experts, Tron will rise in the coming years; if it comes true, it could be a good investment.
Why Is Tron So Cheap?
The price of Tronix is low because of its high circulating supply.