The Tron project has risen to be one of the most popular projects in the industry in recent years. Much of its success has come from vigorous development and the project’s active team led by Justin Sun.
Though the project has not slowed down in its effort in recent months, its representation in terms of TRX prices has been on a drag. In the last couple of weeks, the coin has been trading on a tight range and has hardly responded to recent project developments.
At the time of press, Tron is nudging at the $0.030 position after a bearish couple of days. In the last couple of weeks, Tron has been stuck in the $0.025 and $0.030 price range. Today the market is seeing some fresh green and Tron is one of the cryptocurrencies seeing significant gains of over 4%.
Recent Developments Around The Tron Project
Just a couple of days ago, the Tron project announced that their token would be available to Opera web browser users. The Opera web browser will now support TRX in its built-in crypto wallet. The platform already has more than 300 million users from around the world and supports Ethereum and ERC-20 compatible tokens and Bitcoin.
The Tron project continues to dominate in dApps. DApps are growing fast due to their speed and cheapness taking away a lot of developers from popular projects such as Ethereum and EOS.
However, although Tron has had much to celebrate this year, the project has not had faults. In recent days there seems to have been trouble from within the project. The project’s CTO, Lucien Chen, has recently resigned from the project citing several problems with the project, this ranged from lack of “decentralization” to it being a gambling and funding project.
Following the resignation and allegation, the Tron project fired back saying that the CTO was fired early in the year for bribery and theft. However, the project failed to announce his departure at the time.
It still remains unclear who is telling the truth but whatever the case, this is attracting the wrong kind of attention for the project.
TRX Price Prediction
It is currently clear that the Tron project despite having issues with its management is on the right track when it comes to development and clearly has no issue when it comes to adoption. TRX prices will soon catch up with these developments and with key resistance positions dealt with such as $0.032 and $0.035, we can see TRX soar to new highs soon.
Tron Price Takes a Marginal Dip Since Yesterday
Tron price is suffering from the drop. The currency had quite a disappointing quarter. From July till now, TRX price has fallen by almost 50%. The drop has caused a substantial change in the market cap also. If we look at yesterday’s statistics, the coin touched a high at 0.016041 USD and a low at 0.015475 USD.
Tron to USD Price Comparison & Predictions
Tron started yesterday at $0.015899. The currency fell to $0.015719 by 1.13%. Further, TRX revived and touched $0.015922 by 1.27%. Later, the coin dropped to $0.015438 by 3.04%. The currency closed the day at $0.015601 with regression of 1.87%.
Today, Tron price escalated at the beginning of the day. The price changed from $0.015601 to $0.015787 by 1.19%. TRX coin is dealing at $0.015787 and is expected to keep the price at the same level for the rest of the day.
TRX coin had a fabulous first half of this year. The currency was among top forces in the crypto market and dealt in fabulous market cap. The 24-hour volume of Tron is $526,691,731. The circulating supply is noted as 66,682,072,191 TRX. It is anticipated that TRX would close the year, reaching up to $0.020. The currency would go best with short-term traders.
Tron Has Recovered from The Early Bearish Trend; Listed Recently on DigiFinex Exchange
Tron and DigiFinex exchange recently announced a tie-up. Soon, the exchange will launch a TRX trading market where users can trade in BTT/TRX and WIN/TRX pairs. Further, DigiFinex will launch a Tron blockchain index consisting of BitTorrent (BTT) and WINk (WIN). It will ultimately reflect the market performance of Tron blockchain. Additionally, the exchange also assured for other Tron-based project listings in the future.
Current Statistics of Tron:
- On September 15, at UTC 06:04, Tron (TRX) was trading around 0.01570186 USD.
- Against Bitcoin, the crypto was valued around 0.00000153 BTC per chip.
- At present, the market rank of Tron (TRX) is 14th in the cryptocurrency chart.
- Additionally, the market capitalization of the altcoin was around 1,051,151,514 USD.
- At the same time, the 24-hour trading volume in the coin was 588,385,505 USD.
- With a return on investment of 668.49%, a total of 66,682,072,191 TRX chips were circulating in the market at the time of writing.
TRX to USD Price Comparison:
On August 19, Tron was trading around 0.01829 USD. However, today after 25-days, the coin has declined by a margin of 14.15%. In the weekly chart, the coin has almost recovered to its earlier level of 0.0158 USD, where it was trading on September 09. The coin declined heavily in the first few days of the week but made a bounce-back afterward. In the intraday trading, on yesterday, the coin opened 0.015528 USD, and with a hike of 1.8%, it wrapped the day around 0.015808 USD.
Tron Price Prediction and Conclusion:
The declining trend in Tron has consolidated in the last couple of days. As per our analysis, Tron (TRX) might trade around 0.05 USD by the end of 2019. At present, the immediate resistance for the coin is at 0.01607 USD, and the support level is at 0.01538 USD.
The strategic partnership with of Tron with DigiFinex will be of mutual benefit for both of them. The listing of Tron on the exchange is also a piece of delightful news for the user community. Meanwhile, it is the time for buying and holding the coin for a better return in the future.
The Tron’s Network Now Harbors 577 DApps
Tron network has just received another boost in its capacity with eight (8) new decentralized applications (DApps) coming onboard. Tron has undergone some golden days, but the recent circumstances are not quite promising with the virtual currency priced at $0.018199.
The decentralized blockchain platform receives another edge with 8 new decentralized applications making the total count of the applications 577 now. Tron aims to create a content-based digital entertainment system that works free of cost anywhere in the world. It relies upon a distributed framework for storage & enables quick and affordable sharing of the digitally acceptable content.
Started in September of 2017 under a non-profit firm based out of Singapore, the firm is now headed by Justin Sun with a dedicated development team for in-house operations that consists of good technology stalwarts.
Tron Foundation nurtures other plans to foster blockchain along with its implementation, to be carried out under a standard method that all industry players are employing.
The firm, Sun Network was reported to aid the leveraging of blockchain through enhanced scalability in supporting the under development DApps (decentralized apps) that can garner people in understanding Tron Foundation’s potential in the blockchain industry.
But Sun Network is not designated to be implemented under the primary net. Although, the execution of sub-chains can be done on the advanced grids that enable channeling profits for the main net while the process continues.
Justin Sun, CEO of the Tron Group, seems to be smiling at this feat right this very moment for his dream that has been manifested into a reality.
The launch of the apps has reported having boosted TRX’s volume by 30% when looked at the numbers from last week. The twitter page of the company has recently been updated with the news: