Bitfinex announced on Twitter that the BTT airdrop had been completed successfully and that all participants had received token relative to their TRX holdings.
The airdrop, which had been announced back in February this year, gave out BTT tokens for TRX holdings on supported exchanges in a 0.11:1 ratio (0.11 BTT per TRX held). This means that for every $1000 worth of TRX tokens held, the wallet will be eligible to receive around $5 worth of BTT.
However, the amount of BTT distributed to TRX holders is also scheduled to gradually increase over time, by 0.1% per year, till they year 2025, after which the program will be discontinued.
Though initially there had been no restriction to how much TRX had to be held, after the first two airdrops TRON announced that only wallets holding at least 100 TRX would be eligible to receive BTT. An initial snapshot had been taken when the TRON block height reached 6.6 million and the first airdrop had distributed 1.1% of the total BTT supply. By 2025, this percentage should increase to 1.7%.
Also, in order to reward long-term TRX holders, BitTorrent will airdrop an extra 99.99 billion BTT (~$44 million), which corresponds to 10% of the total supply.}
Tron (TRX) Price Prediction and Analysis in December 2019
Today, we will be looking at some of the past price trends, development status, and market opinions for TRX in order to project a Tron price prediction for December 2019.
Created by Justin Sun, the Tron project is a blockchain platform that was designed to facilitate the sharing and publishing of online content.
The native coin of the platform, TRX, is the medium through which users are paid for their content. Initially, TRX was based on Ethereum’s ERC20 standard, but a year ago, Tron migrated to its own blockchain and established its own token protocol.
TRON Foundation describes that the network “specializes in offering massive scalability and consistent reliability capable of processing transactions at a high rate via high-throughput computing.”
Currently, TRON has a trading price of $0,014278, with a market capitalization of $952.106.843 and a circulating supply of 66.682.072.191 TRX, which places the coin in 13th position. Tron has gone down by 1.71%, and $920.154.456 worth of TRON was trading in the last 24 hours.
Tron Price Prediction: Analysis
It can be noticed that TRX started slipping from the second week of November, as the coin was trading at $0.018. Up until November 15th, the coin started slowly rising and began testing the $0.02 resistance level, but it then fell back. Since then, Tron has steadily lost a part of its value, trading at $0.013 on November 25th.
TRX saw some signs of recovery in the following days, climbing back up to $0.016 at the end of November.
December started with TRX trading at $0.01551. Even if the coin maintained itself at $0.015 for a few days, on December 4rd, Tron went down below this level. The following days up until today have seen Tron trading within the $0.014 mark.
Today, 11th December, Tron is trading at $0.014348, with an increase of 0.18% in the last 24-hours.
Over the last days, there have been three major price variations, with analysts projecting that the upcoming days will have the same patter for TRX coin.
The starting price of the day for Tron was at $0.01472439, and over the next 9 hours, it lost 2.18% value and went down to $0.01440315.
According to WalletInvestor, the calculated pivot, resistance, and support values are:
- Resistance Level (R3): 0.0151
- Resistance Level (R2): 0.0149
- Resistance Level (R1): 0.0147
- Pivot Point: 0.0145
- Support Level (S1): 0.0143
- Support Level (S2): 0.0142
- Support Level (S3): 0.0139
On the last day of October, it was announced that TRON would be integrated with the new Samsung phone. TRX, BTT, USDT-TRON, and BeatzCoin are supported on the phone and can be used by people from Switzerland, Germany, UK, Canada, and the U.S.
There have also been rumors that the Dai stable coin will see integration on Tron and Binance chains through a layer 2 scaling solution called Loom network.
The founder has been teasing users for months about some secret project designed by the developers of the BTFS which will have a revolutionary impact. Sun has been criticized many times for overhyping his project and using social media extensively to attract attention and rally the price of TRX.
The founders of Tron have connections with major players in the Asian business sector. The platform has received funds for development from Tang Binsen, creator of the Clash of Kings computer game, the founder of the OFO cycle-breeding company Dai Wei, the head of Lifan industrial concern Yin Minshan, and many other prominent names.
The project is in partnerships with top IT and blockchain companies, including Bitmain, ICO-365, Bixin, Gravityless, OpenLedger, and Baidu Browser.
The Tron Github page features 42 repositories, and there are only two people working on it, but the project seems to be updated on a daily or weekly basis.
Tron Price Prediction: Market Opinion for December 2019
Due to its ranking in the crypto market, there have been many crypto websites that have made their own Tron price prediction for December 2019. To better convey the market sentiment for the projections of this coin, we have decided to incorporate some of these forecasts.
TradingBeasts forecasted that the price of TRON will reach $0.0195 by the end of 2019.
Digitalcoinprice estimated that TRX will be trading in December at $0.02256356, which would signify a change of 57.43 %.
WalletInvestor projects that TRX will drop, situating itself between $0.0119 and $0.00151 in December.
|Date||Price||Min Price||Max Price|
CoinTame estimated that TRX might reach $0.633 by the end of December of this year.
CryptoGround predicted that by the end of 2019, Tron will have a trading price of $0.0164, which would represent a change of 12.85%.
Coinnounce expects TRON to be trading at a price of $0.025 by 2019.
Uslifed forecasted that the coin will hit a value of $0.51 in December.
Cryptorating’s Tron price prediction was also one of the very few price predictions that were optimistic, expecting TRX to rise to $0.025249 by the end of the month, with an increase of 75.16%.
Tron Price Prediction: Verdict
With this, we conclude our Tron price prediction for December 2019. We hope that the information we have provided in our article will be of help in your future TRX trading endeavors.
Featured image: finder.com
Tron (TRX) Price Analysis: Bears In Control, More Losses Likely
- Tron price is currently trading well below the $0.0150 and $0.0155 resistances against the US Dollar.
- TRX price is struggling to stay above the main $0.0142 support area.
- There is a major bearish trend line forming with resistance near $0.0152 on the 4-hours chart (data feed via Bitfinex).
- The price remains at a risk of more losses towards the $0.0131 and $0.0130 support levels.
TRON price is showing a few bearish signs against the US Dollar and bitcoin. TRX price could decline further towards $0.0130 unless it surpasses the $0.0155 resistance.
Tron Price Analysis
After struggling to clear the $0.0164 and $0.0160 resistance levels, TRON price declined below $0.0155 against the US Dollar. TRX price tested the $0.0142 support area and recently corrected higher.
It broke the $0.0145 and $0.0148 resistance levels. Moreover, there was a break above the 23.6% Fibonacci retracement level of the downward move from the $0.0161 high to $0.01419 low.
However, the price failed to stay above the $0.0150 level and remained well below the 55 simple moving average (4-hours). Besides, the 50% Fibonacci retracement level of the downward move from the $0.0161 high to $0.01419 low acted as a strong resistance.
As a result, the price declined again below the $0.0145 support area. Tron price is now trading near the $0.0142 support area and it is well below the 55 simple moving average (4-hours).
If there is a downside break below the $0.0142 support area, there is a risk of a sharp decline below the $0.0140 level. The next major support is near the $0.0132 level.
On the upside, an initial resistance is near the $0.0148 level and the 55 simple moving average (4-hours). The main resistances are near $0.0150 and $0.0152. Additionally, there is a major bearish trend line forming with resistance near $0.0152 on the 4-hours chart.
Therefore, the price must surpass $0.0150, the 55 SMA, and the bearish trend line to start a decent recovery. The next major resistance is near the $0.0165 level, above which the price could continue to rise towards $0.0180. An intermediate resistance is near the $0.0172 level.
The chart indicates that TRX price is clearly struggling to stay above the main $0.0142 support area. Thus, there is a risk of more downsides below the $0.0140 and $0.0135 levels in the near term. The main breakdown support is now near $0.0132.
4 hours MACD – The MACD for TRX/USD is gaining momentum in the bearish zone.
4 hours RSI – The RSI for TRX/USD is currently declining and it could soon test the 30 level.
Key Support Levels – $0.0142 and $0.0132.
Key Resistance Levels – $0.0150, $0.0152 and $0.0165.
Tron Boasts New Milestones While Its Rivals Aren’t Doing So Well
The Tron Foundation keeps expanding and attracting more users to its ecosystem, while Justin Sun calls on Ethereum devs to join Tron as well Tron reports its new milestones after the recent incident with DigiByte getting delisted from Poloniex while some in the DGB community accuse the CEO Justin Sun of initiating it.
Total number of user accounts on Tron surges over 100,000
The official Tron account on Twitter cites data provided by Tronscan, saying that over the last two weeks there has been a significant increase in Tron user accounts. This shows an evident growth trend, the tweet states.
The Tron Foundation invites more users and developers to join it. This sounds in unison with the recent Justin Sun’s tweet in which he invites Ethereum dev teams to migrate to Tron.
The tweet came as a response to the news that next year the Ethereum Foundation plans to cut off funding for its internal dev teams starting from young projects.👉MUST READ
More dApps added to Tron over last week
Over last seven days, the amount of dApps made on the Tron chain has grown from 636 to 643. Tron claims that in comparison with other blockchains, assumingly Ethereum and EOS, the network is growing at the highest speed.
Image via Twitter
Recently, the Poloniex trading platform ditched by Circle has acquired the TRXMarket dex and renamed it as PoloniDEX. Now, it intends to add all Tron-based assets free of charge.
How Tron’s rivals are doing
On December 8, Ethereum conducted its long-expected Istanbul hard fork which many believe to solve the current difficulties with scalability and push it towards the Proof-of-Stake algorithm.
Analysts are expecting the ETH price to surge to around $423 after June next year.
As reported by U.Today recently, since early November, the EOS chain (or rather its users) have been suffering from congestion caused by the EIDOS dApp airdrop with transaction fees rising tremendously. Now, users need to have at least 100 EOS staked in order to transact.
Besides, the Weiss Ratings agency has decreased the EOS techno score from B to C.
Still, Justin Sun reports that Tron comes third after Ethereum and EOS as per CCID’s 15th global public blockchain technology assessment index.
Image via Twitter