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Highlights
- Many market participants are now expecting that TRON, in the next week and the following week, could see an unprecedented rise.
- At the time of writing (BST 9:15 am), TRX was up by 9.29% in the last 24 hours, with a volume spike of 124.85%.
Tron token (TRX) is the biggest headline maker on Monday. TRON has been slowly making steady gains; it suddenly erupted following Justin Sun’s tweet about a possible big announcement next week.
Tron has risen more than 160% from its previous low of July to settle at US $0.1085. Many market participants are now expecting that TRON, in the next week and the following week, could see an unprecedented rise and could even hit US $1.
If that happens, it will be a remarkable turnaround for a token that showed signs of potential but couldn’t realise it following the market crash in May-June. The usage of TRON blockchain has been increasing off late. TRON is one of the primary blockchains that is used for Tether, whose supply has exceeded 200 million as of today.
What Is TRON (TRX)?
TRON works on Binance Chain protocol and is a blockchain operating system, wherein one can not only create decentralised applications (DApps), but also share media content. The TRX token helps the users to gain access to features, which consequently help them to store value, and it can easily be traded on exchanges.
Read More: How does Justin Sun crypto, Sun crypto, work?
TRX is a special attraction to online gamers as they can fully utilise its potential and trade them a virtual asset on platforms. The users can yield farms, open lending platforms and much more.
TRX was founded by Justin Sun in September 2017. The project of the Tron Foundation, TRX managed to raise a total of $70 million in the form of an initial coin offering (ICO) and launched its main net in June 2018. It has grown exponentially and has become one of the most popular cryptocurrency by breaking into the top 20 cryptocurrencies as per market capitalisation.
Is TRON a good investment for you?
Tron is ranked 24 on CoinMarketCap and has grown strongly in the crypto market. According to CoinMarketCap, the TRON is trading at US $0.1085 with a 24-hour trading volume of US $4,735,959,801.91. At the time of writing (BST 9:15 am), TRX was up by 9.29% in the last 24 hours with the volume spike of 124.85%. TRX currently has a live market cap of US $7,791,300,439. It has a circulating supply of 71.66 billion TRX coins.
From the price prediction point of view, the TRX coin has shown a bull movement and remain in control for the moment. The market prediction indicates that there is a good chance of TRX breaking the $1-barrier soon and will continue to strengthen from thereon.
Conclusion
With TRX establishing a strong bull run, the token has attracted several investors, especially on Monday. Founder Sun has given the market and the users something to look up to now. Having said that, some of them will also be wary of Sun’s past as he had promised big but delivered little. However, in the run-up to the event, it showcases itself as a great investment opportunity for people who are looking to trade for both long-term and short-term gains.
