Moreover, many investors are skeptical about buying the TRX token amid the ongoing bearish crypto market and FUD. That’s why we’ve outlined everything you must know about the Tron crypto project in the following sections below.
Tron (TRX) Price History
The Tron coin launched in 2018 after its initial coin offering (ICO), which spanned from 30 August to 1 September 2017 and raised $70 million at $0.0019 per token.
According to CoinMarketCap, the protocol was listed on crypto exchanges after the ICO, with a $0.002 initial trading price. Notably, the token’s price experienced a low range until December of that year.
However, the coin’s price began to rally in December, thanks to Tron’s boss and founder, Justin Sun’s connection in China, creating a huge hype.
Tron’s price peaked at an all-time high of $0.3004, surging to a mammoth market capitalization of more than $13.5 billion. Although this bull run was short-lived, the coin’s price plummeted.
After this, Tron’s token price temporarily rallied, building a bull trap, before sinking with the broader crypto market throughout 2018 until 2021.
Moreover, in 2021, Tron could not tap into its 2018 bull market. Instead, it peaked at $0.1573. Regardless, Tron has performed comparatively well all through the recent crypto bear market.
It declined below 50% from its 2021 peaks. Tron’s low of $0.07841 was 73% from its all-time high price.
Tron (TRX) Price Prediction 2023: What Factors Could Influence Tron (TRX) Price?
In the past year, Tron has increased by 15%. After Tron’s bull market peak, the coin’s price recorded lower highs before marking support around $0.047.
The TRX price chart below shows that the coin’s price initially tapped into the level last year in June but was corrected on the same weekly candlestick.
Regardless of its bouncing, the coin’s price sank again in the following weeks, retesting the support level in November last year. Moreover, Tron has since rejected and formed an upward channel, Tron (TRX) is climbing toward the $0.0926 resistance zone at press time.
Based on this fact, Tron crypto’s short-term price chart appears bullish, though its fundamentals are worth considering.
One crucial upcoming event and possible bullish rally factor is the Tron Periander upgrade, which will go live in the coming days.
It’s worth noting that this upgrade will boost Tron’s network in numerous ways, ranging from increasing EVM compatibility to transforming the protocol’s P2P network model.
Crypto Regulatory Landscape
On the contrary, Tron’s founder and creator, Justin Sun, and the Tron Foundation are facing a court battle with the United States Securities and Exchange Commission (SEC) for facilitating the sales of unregistered securities.
Foreseeing this could weigh down on the Tron (TRX) coin’s price, though TRX has been able to increase steadily despite this challenge.
Another factor to consider for the coin’s price is the current macroeconomic factors. At the beginning of 2023, the United States Federal Reserve announced the country would experience two additional interest rate hikes in 2023.
Notably, this can result in the price of all cryptos, including Tron (TRX), to dip.
New findings reveal that investors aren’t considering the chances of economic rate hikes. This implies that if the Federal Reserve does increase interest rates, it could have a notable effect on the financial markets.
Thus, the Tron token’s price mainly relies on macroeconomics and developments in the legal action against the Tron blockchain. Noting this, our Tron price prediction projects potential lows of $0.05, average prices of $0.07, and $0.09 by 2023’s ending.
|Month||Possible Low Price||Average Price||Possible High Price|
Tron Price Prediction 2024
The Tron protocol focuses on becoming a decentralized network for all social networking and media sharing. The ecosystem enables revenue sharing where digital creators and users benefit from the protocol, offering a notable advancement from what’s obtainable through traditional social media websites.
It’s worth noting that the Cambridge Analytica scandal revealed that social media customer data is usually harvested and sold to third-party sites to the highest bidder. As a solution, Tron emerges to mitigate this challenge, which could lead to a new narrative in the coming years.
A Business Insider report recently revealed that the Bank of America is bullish on the financial markets in 2024. Notably, the article also said that the S&P500 could climb by more than 19% by 2024’s ending.
This would inevitably signify a bullish stance for the cryptocurrency markets, too.
The second factor to note is the April 2024 Bitcoin halving, in which many crypto analysts project the next cryptocurrency bull market run in 2024.
Moreover, the two main dangers that could inhibit Tron from surging in 2024 are broader crypto regulatory scrutiny and if the cryptocurrency bull market doesn’t take place.
Another factor to consider is the recent Bloomberg report, which revealed that Justin Sun is implementing risks in China. The report found that the Tron (TRX) owner is assisting mainland China investors to gain access to the Huobi crypto exchange regardless of the existing crypto ban in the country.
This could indicate further challenges for Justin Sun and the Tron Foundation, affecting Tron’s blockchain development.
Regardless, we are optimistic about the overall outlook for the Tron protocol in 2024, deliberating its existing upgrades, unique use cases, and bullish market sentiment. With this in mind, our Tron token price projection estimates potential lows of $0.0071, an average price of $0.096, and a high cost of $0.12 by the end of 2024.
Tron (TRX) Price Prediction 2025
One of Tron protocol’s strengths is the network’s ability to lure the highest caliber of firms to build on its (DeFi) ecosystem and business development strategy. The protocol has collaborated with top global brands like Opera, Samsung, Polinex, etc.
The project ranks as the network with the most active wallets, with an average of 3.19 million active wallets in the last 30 days. In comparison, the highest number of dynamic wallet addresses on the Ethereum network ever registered is 1.4 million.
In addition to focusing on media and entertainment, the Tron ecosystem has started focusing on stablecoin development. Justin Sun tweeted that the Tron (TRX) project focuses on increasing its stablecoin market capitalization to $60 billion.
This development also comes amid the recent release of the protocol’s algorithmic stablecoin stUSDT. However, the stablecoin has rallied concerns because of the crackdown on the Luna Terra algorithmic stablecoin.
On the contrary, Tron will contribute transparency and collateral to the stUSDT stablecoin to prevent these risks.
It is worth noting that the stUSDT is the foremost real-world digital asset on the Tron network, and Sun believes it will act as a bridge between mainstream and decentralized finance.
Tron ranks as the second-largest network by total value locked (TVL), following the Ethereum blockchain, and it presently holds the most enormous amount of Tether (USDT), ahead of Ethereum (ETH).
Overall, these factors reveal considerable strength for the Tron network and offer it various potentials looking forward. Thus, our 2025 Tron price projection estimates potential price lows of $0.1, peaks of $0.22, and an average price of about $0.16 by 2025 end.
The Tron protocol may record higher prices based on its TVL and network activity. Moreover, our price projection predicts a range that the coin can maintain.
Tron Price Prediction 2030
Tron has a robust long-term buying potential, and one reason for this is that the protocol enables Ethereum’s Solidity programming language.
This implies that it’s easy to transfer applications, assets, and code between the chains and makes it easy for Ethereum developers to build on the Tron network.
Another advantage of Tron is that its transaction fees cost a fraction of a cent compared to Ethereum (ETH), which can cost hundreds of dollars to perform one transaction.
Based on that, Tron is comparatively centralized, with only 27 “Super Representatives” or network validators.
This could make Tron favorable to Ethereum layer two solutions, especially for users prioritizing decentralization. Tron’s network activity and TVL position it as a formidable chain and could position it as one of the best long-term cryptocurrencies.
Based on this, our 2030 Tron price projection is a possible low of $0.13, an average of $0.19, and a high price of $0.26.
Potential Lows and Highs of Tron’s Price
Even though the Tron (TRX) project seeks to become a media and entertainment protocol, it has experienced significant stablecoin adoption globally. This positions the coin as one of the best DeFi crypto projects.
Noting this, we have outlined our expected minimums and maximum prices for the price of the TRX coin below.
What Other Analysts Project for Tron’s Price
One of the ways to better understand if you should invest in a coin is to consider what other top analysts are saying about it. That said, below are some of these analysts’ views:
- According to Telagon, Tron (TRX) is projected to see a minimum price of $0.082, a peak of $0.32, and trade at an average price of $0.15 by 2023 end.
- Bitnation predicts that TRX could trade at a minimum of $0.093218, a peak of $0.116521, and an average of $-.116463 by 2023 end.
- BitcoinWisdom’s TRX projection forecasts a low price of $0.093218, a high of $0.116521, and an average of $0108714 by 2023 end.
- According to Changelly, TRX will trade at a low price of $0.0748, a peak price of $0.0791, and average price of $0.077 by the end of 2023.
- CoinPedia also projects that Tron could trade at a possible low of $0.0762, a peak of $0.1475, and an average price of $0.1098 by the end of 2023.
What is Tron and What’s It Used For?
The Tron cryptocurrency is a layer-1 blockchain developed by the Singapore-based non-profit organization, the Tron Foundation, in 2017. The decentralized token called Tronix (TRX) powers the Tron network. As a decentralized protocol, Tron aims to host a worldwide entertainment and media system to facilitate extremely cheap digital content sharing.
Recently, Tron has become famous as a blockchain, with one of the largest total value locked (TVL) boasting limitless DeFi projects. All these are thanks to the protocol’s meager transaction fees and collaborations with leading brands globally.
It is worth noting that the Tron project leverages the delegated Proof-of-Stake algorithm to achieve consensus, with 27 Super Representatives as its validators. From these 27, one is chosen to maintain the network once in six hours and receives rewards in Tron (TRX) coins as payments. Besides this, the TRX native token is used for governance, staking, costs of transaction fees, and also for rewarding content creators.
In addition, tron has an integrated burning mechanism, which results in its supply being deflationary. Notably, the protocol had 101 billion Tron (TRX) tokens in circulation in 2021, but now there are only 89 billion.
|Price Change 24H||0.92%|
|All Time Low||$0.001091|
|Circulating Supply||88,903,946,167 TRX|
Factors that Affect the Price of Tron (TRX)
There are some things to consider before venturing into the Tron crypto project, and we have outlined some of these in the paragraphs below. Let’s go.
The first and notable factor affecting the price of TRX is the broader market direction. TRX aligns with the overall crypto market to an extent. This implies that the token will rise and fall alongside other cryptocurrencies.
That stated, despite many other digital assets recording new all-time highs in the last bull market, TRX couldn’t.
However, even with it recording the highest number of active crypto wallets and having the second-highest total locked value, Tron (TRX) ranks as the number 10 by market capitalization of all digital assets.
This may occur due to regulatory issues and concerns about the coin’s leadership. The Tron Foundation and its founder have undergone various lawsuits since the project’s inception.
As a result, the broader market sentiment could surpass the price of TRX regardless of the project’s strong performance.
Moreover, Tron’s significant network activity and use cases could cause its price to surge as the market grows. In addition, the project’s deflationary supply could bolster supply further.
Is Tron (TRX) a Good Investment?
The Tron crypto project is a highly scalable blockchain that has experienced notable amounts of partnerships and adoption. On the contrary, the project faces considerable challenges concerning investment sentiment, leadership, and regulation.
This could prove one of the most impressive digital assets to venture into during the next bull market. It also faces some risks that investors must note in the coming years.
We have outlined everything you must know about the Tron crypto project, including its 2023, 2024, 2025, and 2030 price predictions. We have also listed the price projections from some leading analysts globally.
With this analysis and noting the factors affecting Tron’s price, you can decide whether TRX is a coin you want to add to your portfolio. Let us know what you think about Tron in the comment section below.