Why does TRON matter today? Thanks to the Tron network, consumers will be able to connect directly with artists and enjoy their content in exchange for a small fee, often as little as a few cents. It is enough not to cause stress for consumers. At the same time, such low fees are still sufficient for artists and developers to make a decent living.
Understanding TRON
The long-term goal of the Tron network is to revolutionize the entertainment industry because it provides the ability to make microtransactions. Because of the great TRX potential, many investors are looking for Tron price prediction 2024 to decide whether it is a profitable investment or not.
Origin of TRON
Tron (TRX) was developed by Justin Sun, who is now the current CEO and face of the project. Since the project’s inception, Sun has not been shy about emphasizing the potential of Tron and the opportunities that blockchain offers.
What Is TRON?
TRX is a popular cryptocurrency that runs on the Tron blockchain, where it serves as the network’s native currency. It was developed initially as an ERC-20 token during the surge in cryptocurrency popularity in 2017 and moved to its own blockchain after development was completed in mid-2024.
TRON Price History
TRX appeared in mid-September 2017 and, by that time, its price did not show any noticeable movements. Basically, the rate fluctuated between $0.001 and $0.002 until it began to rise in mid-December.
Once it started to rise, it soared to a level it never managed to repeat: from $0.002 to $0.3 in just three weeks. It reached an all-time high on January 5, 2024. Shortly after that, a major collapse occurred when the market went into the so-called “crypto winter,” and the TRX price dropped to $0.02.
It then attempted to rise again, although it did not go beyond $0.05 until mid-April. At that time, the entire market began to recover, and many believed that crypto winter was over, which of course, was not true. Nevertheless, TRX managed to climb to a decent high of $0.091 before the bears came back and started pushing the market back down.
Since then, the coin has mostly fluctuated between $0.01 and $0.03, not dropping as deep as it did after the launch but also not approaching $0.05, let alone rising above that level, until February 2024.
In the last four months, the price of TRX has started to rise steadily. At the beginning of the year, the price was $0.02, and by February 19, it had risen to $0.061. After that, there was a slight correction, but then the price returned to slow but steady growth, eventually rising to $0.061, and then continued to rise and reached a three-year high of $0.147 on April 5.
Such a strong and rapid rise is usually followed by a correction, and as a result, TRX fell to $0.1. But after finding support at $0.1, the coin began to rise again. At the time of writing, it is at $0.114.
Crypto Forecast for TRON
Tron’s recent bullish trend has surprised most analysts, despite the fact that the project has seen quite a few new developments that have supported the coin’s price. For example, the TRON Foundation said that the project recently became the world’s first deflationary cryptocurrency after reducing the volume of its circulating supply. This happened between March 30 and April 5, just when we saw a rapid rise in the coin’s value.
Another potential explanation for the latest price hike could be that Bitcoin’s dominance in the cryptocurrency market is becoming weaker, and the outlook is finally more favorable for altcoins such as TRX. Most Tron price forecasts for 2024 predict that the Tron price will rise together with ETH price. By the end of 2024, the Tron price is projected to reach $0.20.
Value of TRX for 2024
Tron’s price forecast for 2024 assumes further price increase. Most experts predict that Tron will increase in value significantly over 2024 and will trade at $0.35.
Value of TRX for 2024
Tron’s price forecast for 2024 depends on the speed of cryptocurrency adoption. The general consensus is that more institutions and startups will use Tron by 2024, especially digital content companies. The price of Tron is expected to rise in 2024. Most experts believe the price will be between $0.44 and $0.55 in 2024.
Value of TRX for 2024
The 2024 Tron price forecast predicts that TRX will have some volatility but maintain an overall bullish trend. You could see the Tron price rise to $0.83 in 2024.
Value of TRX for 2025
A large developer base means that Tron is constantly improving and implementing, which has a direct impact on the price of the cryptocurrency. Tron’s price forecast for 2025 suggests that the cryptocurrency could approach $1.
Opportunities of Investing in TRON
There are many factors that can contribute to the coin’s price growth. It already has a competent and fast blockchain – much faster than Ethereum. With supply shrinking, there is no reason for TRX’s price not to rise, especially since Tron has many great uses.
In addition, the project has a big goal of revolutionizing the entertainment industry. This goal is specific enough for everyone to understand what they can expect. Basically, the project has many possibilities for achieving its goals in various ways, and there is great potential in this approach. So while no one can say for sure what the future holds for the Tron cryptocurrency price, there are plenty of reasons to be optimistic.
Chris Mcdonald has been the lead news writer at complete connection. His passion for helping people in all aspects of online marketing flows through in the expert industry coverage he provides. Chris is also an author of tech blog Area19delegate. He likes spending his time with family, studying martial arts and plucking fat bass guitar strings.