Cryptocurrencies are on the brink of another bearish market. Although prices for digital assets skyrocketed in 2021, the first half of the year 2022 is demonstrating negative market sentiment and global inflation. Some cryptos are falling in value drastically, while others, such as the TRON coin (TRX), are stuck in an uncertain, neutral position.
Still, altcoins had undergone multiple bear markets before and came out as winners. TRON is such a cryptocurrency project, which skyrocketed in 2018 and experienced a harsh crypto winter in the following years. Still, TRX is far from dead today. It registers as one of the most used smart contract platforms globally and is ranked 13 by market capitalization as of May 2022.
Let’s take a closer look at Tron’s fundamentals and its historical price action. This will greatly complement the following analysis of expert predictions of the future prospects of TRX. There is also a solid TRON (TRX) price prediction for the short and long term at the end of the post.
What Do We Know About Tron?
TRON is the creation of Justin Sun, a controversial figure in the cryptocurrency landscape. The crypto was initially released in 2017 to provide an alternative to Ethereum’s smart contracts concept. In 2018, TRX moved to its native network.
TRON employs the delegated proof of stake (DPoS) algorithm, which is much faster than Ethereum’s consensus mechanism. The model allows TRON to execute up to 2,000 transactions per second, compared to Ethereum’s 25.
Consequently, TRON has slowly been gaining usage in the blockchain ecosystem. As of May 2022, it is the 3rd largest network by total value locked (TVL) into its smart contracts, which equals nearly $6 billion. The number of developers using TRON’s smart contracts is also increasing, and the network is now positioned as a solid DeFi platform.
The TRX cryptocurrency is used for staking on the network and paying negligible fees for transactions. The cryptocurrency doesn’t have a fixed maximum supply, and there are currently almost 94 billion TRX in circulation.
Price History of TRX
TRON came out in the markets in the last quarter of 2017 at a modest price of $0.0014 per coin. However, due to the bullish trend, the TRX price skyrocketed to its all-time high — $0.22, on January 05, 2018.
This price spike lasted for only two weeks and then crashed to $0.012 in the subsequent bear market. Later on, the price of TRX had been fluctuating between $0.01 and $0.04 from 2019 to 2020.
In 2021, the coin experienced another bull run. And even though it never managed to come close to its all-time high, TRX reached a very respectable $0.16 per coin. Following the current bearish trend, TRX is hanging on and is traded at about $0.08 per coin as of May 2022. In case you find this crypto worth buying already, use an anonymous cryptocurrency exchange.
What to Expect From Tron in the Future: Price Prediction
Let’s take a look at statistical predictions by some of the most reputable sources:
TRX Price Prediction 2023
Digitalcoinprice.com has a conservative vision regarding TRX price. It predicts a maximum price of $0.13 per coin in 2023, which is lower than last year’s high.
Priceprediction.net, on the other hand, is a bit more optimistic. It provides a price forecast of $0.16 for 2023, which is nearly double the coin’s current price.
TRX Price Prediction 2025
For 2025, Digitalcoinprice.com has a lukewarm forecast of $0.18. This website still doesn’t have much trust in TRON’s rapid growth.
At the same time, Priceprediction.net claims TRX’s price to reach as high as $0.35, showing that they believe that TRON will manage it through another bear market that happens every 3.6 years on average.
TRX Price Prediction 2030
Digitalcoinprice.com claims that TRX will reach $0.39 per coin in 2030.
But Priceprediction.net expects a whopping $2.34 per coin, which is a nearly 30x increase.
Is Tron a Good Investment?
The result of the TRON team’s effort is that this decentralized platform has become one of the most used networks globally. This crypto also has shown great resilience in previous bear markets. Moreover, the predictions regarding TRX price are optimistic. So, TRX is likely to grow further in the future, providing a good opportunity for invest