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TRON started out as an Ethereum-based ERC-20 token created by Justin Sun, with the goal of revolutionising the entertainment industry. For most of its existence, it focused on partnering with online gaming firms, offering gambling dApps after it launched its own blockchain, and, for all intents and purposes, trying to become the new Ethereum.
Like other would-be Ethereum killers, it failed at overcoming the project on which it was born, and it eventually slipped from the list of largest cryptos by market cap, currently sitting at the 25th spot at the time of writing. Still, TRON did have a lot of popular dApps, and it is dabbling in DeFi, as well, like many development platforms that came before and after it.
Cryptocurrencies have increased dramatically in the years since the concept was first floated just over a decade ago. This has led to an eventful trading life for most tokens, and it’s therefore always interesting to examine the price potential of crypto platforms. So in this section, we're going to look at the price discovery of TRON over the last few years, as well as some related factors.
One of the key aspects of TRON news emerging recently has been the arrival of sub-5 minute transaction finality for the platform. This has catapulted TRON to a place among the most rapid cryptocurrencies in the world, although there are still a few platforms that are able to deliver this aspect of trading within less than 60 seconds.
Elsewhere, TRON also received a boost when its founders and developers purchased American Crypto Systems, signalling a clear intention to expand into the US cryptocurrency market. This profitable cryptocurrency mining operation is based in Idaho, and represents a significant acquisition for the TRON project.
The purchase also represents a knowledge grab by the developers of TRON, with American Crypto Systems considered experts in blockchain data mining, distributed computing, distributed database management, and the detection of mining pool management failure. This Idaho facility has 6,000 square feet of warehouse space, which will also be hugely useful to the TRON project. The purchase can definitely be viewed as a signal of the serious intent from the developers at TRON, and could be very bullish for the token.
September 2017 - TRON came into existence when the TRON Foundation was formed. This non-profit is based in Singapore. (TRON price - N/A)
December 2017 - The TRON Foundation raised $70 million when it ran its initial coin offering, providing a foundation for the TRON project. (TRON price - $0.002)
December 2017 - A raft of developers from Alibaba joined TRON, taking up places in the crypto's development team. A partnership between TRON and Alibaba was mooted as being a possibility. (TRON price - $0.002)
March 2018 - TRON became an independent peer-to-peer network, having previously been based on the Ethereum blockchain as an ERC-20 token. (TRON price - $0.031)
25th July 2018 – Bittorrent was acquired by the TRON Foundation, enabling permanent access to the peer-to-peer file sharing service. (TRON price - $0.038)
August 2018 - BitTorrent founder Bram Cohen left the company permanently, in order to found Chia. (TRON price - $0.019)
January 2019 - TRON exceeded a market capitalisation of $1.5 billion for the first time. (TRON price - $0.028)
February 2019 – The TRON Foundation began to make use of its BitTorrent acquisition when the platform began its own token sale based on the TRON network. (TRON price - $0.025)
March 2019 – Odyssey went live on TRON for the first time. (TRON price - $0.022)
March 2021 - TRON is ranked just outside the top 20 in the list of largest cryptocurrencies by market cap. (TRON price - $0.023)
April, 2021 - The founder and CEO of TRON, Just Sun, announced plans for Apollo, which involves some exciting scaling of the blockchain project. (TRON price - $0.10)
August 2021 - TRON announced plans for two further iterations, namely Star Trek (mid-2023) and Eternity (late-2025). These will enable participants to create their own decentralised gaming and predictive markets platforms. (TRON price - $0.06)
As the TRON project continues to develop, it has increasingly become a popular investment platform. Cryptocurrencies in general are viewed as significant alternatives to traditional investments such as fiat currencies, commodities and equities. It’s also notable that there are a vast number of cryptocurrencies available, and therefore it's valid to juxtapose TRON with other similar investments.
In this section, we will compare TRON with the US dollar, Gold, and the market-leading cryptocurrency Bitcoin.
Although TRON is listed among the top 30 cryptocurrencies by market capitalisation, its actual unit price is extremely low. This means that when you compare the token to other commodities, they almost without exception have a much higher unit price. This certainly applies to gold, with the trading price of the popular shiny metal being thousands of times that of TRON.
However, this can provide a misleading impression, as TRON still remains a viable trading mechanism. What is more important than the unit price of the token is whether or not it has increased or decreased in value. It's also critical to mention here that a lower unit price means a lower barrier to entry, meaning that more people can feasibly purchase TRON. This doesn't necessarily apply to gold.
With regard to price discovery, TRON has outperformed gold in 2021, having had an extremely bullish period in the middle of the year. Its price has experienced a correction since then, but has still easily outperformed gold overall. While gold has increased in value during the COVID-19 pandemic, it has been a slightly testing period for the commodity over the last few months, as it receded slightly compared to some of the better performing fiat currencies.
Gold is currently trading at around $1,700, which is an approximate increase of 10% during the pandemic. This is dwarfed by the growth in TRON, which has increased more than five-fold, from $0.013 to $0.074. There remain many goldbugs among the investment community, but cryptos such as TRON are certainly proving to be a better investment during the current uncertainty.
TRON is intended to be a payment system as well as a platform for content, and therefore it is valid to compare its price with that of other currencies. There is no better comparison than with the US dollar, which retains its world reserve currency status, and remains the pricing mechanism for all commodities, equities, and trading instruments.
However, the dollar hasn't performed particularly well in recent months, receding in value compared to other fiat currencies such as sterling. This doesn't apply to TRON, which has definitely gained value throughout 2021 as a whole, so it's reasonable to conclude that TRON has had a more successful period. It could be said that TRON is definitely more volatile than the US dollar, but it also promises much bigger returns for investors.
Whereas TRON has grown five-fold over the 2020-21 period, the dollar lost 10% of value against the pound.
The market-leading Bitcoin has become a household name thanks to its extraordinary increase in value. It is therefore the obvious token for comparison with TRON, not least because many cryptocurrencies tend to trade off the price of Bitcoin.
However, in some respects the two tokens operate in different universes, with the unit price of Bitcoin being tens of thousands of times that of TRON. The market capitalisation of the coin is also vastly higher than that of TRON, even though it has established a more than decent market cap.
The TRON and Bitcoin price have followed similar trajectories, with TRON increasing five-fold and Bitcoin now six times higher in price than when the pandemic began - climbing from around $7,000 per token at the start of 2020 to over $46,000 today.
Overall, TRON has generally followed the pattern of Bitcoin’s gains and losses in the market, and will probably continue to trade off the most notable cryptocurrency for the foreseeable future. If there is ever a significant demarcation between proof-of-stake and proof-of-work solutions then this could see a divergence between the price of the two tokens. This is predicted in many spheres, but has yet to come to fruition at the time of writing.
The first thing to note with any predictions regarding the price of TRON is that the cryptocurrency space is rather unpredictable. There is no doubt that it has turned out to be hugely profitable for a variety of investors, but it is also more volatile than many other investments. This can lead to massive profits, but it does also lead investors vulnerable to losses, making predicting the space harder even than other markets.
But the general consensus regarding cryptocurrencies is that they will head in an upward direction in the foreseeable future. There has been a bull market in recent months for cryptos, and while many tokens also experienced corrections, the prices of major tokens, such as Bitcoin and Ethereum, have increased rapidly recently. Many market observers believe that a positive trend could be forming, and that this could lead to an extensive bull market in cryptocurrency in the years to come.
As 2021 unfolds, it is interesting to note that a report by blockchain data analysis site DappRadar indicated that the number of new uses to the TRON platform had increased exponentially recently. This could be extremely promising for the platform going forward, and suggests that the use cases associated with it are starting to be recognised.
Technical analysis of TRON has also suggested that it is beginning to form a foundation at its current market price. This suggests that the token could push upwards towards a value of $0.10 in the foreseeable future, with TRON then able to stabilise at a value of 10 cents per unit for the first time. While TRON has previously exceeded its value significantly, it has never managed to stabilise in the double-figure bracket.
Cryptocurrency experts believe that TRON will continue to stabilise in 2022. The general consensus of the crypto community is that institutional and major investment money will continue to flow into cryptocurrencies in the next couple of years, which suggests a positive prognosis for TRON and other tokens.
The price of TRON has also increased during 2021, and this suggests that a significant change in price could occur in the years to come. TRON has experienced corrections, but the increasing popularity of cryptocurrency transfers could have a major impact on crypto market sentiment, which would definitely be bullish for TRON.
There are a range of market predictions available with regard to TRON, but some investors have suggested that the price of the token could push 17 cents by the end of 2022. However, the future direction of the cryptocurrency market, and in the market in general, will definitely be impacted by the ongoing Covid pandemic. Economic uncertainty has been extremely positive for the value of cryptocurrencies, and this could continue to impact on the niche. However, no one is quite sure what will occur, and thus it is difficult to make predictions on this subject.
Examining the market several years into the future is always an uncertain process, and this definitely applies to cryptocurrencies, not least because they have been along the most unpredictable markets. What can be said with some certainty is that virtually anyone and everyone that has invested in cryptocurrency over a longer timeframe has been rewarded. There have been corrections, but periods of incline have outweighed the declines.
Multiple factors can influence the cryptocurrency markets in the years to come, while the regulatory environment associated with the industry will also be of critical importance. This continues to develop and mature, which is generally a major positive for cryptocurrency and it advocates, but it's important to keep an open mind on the future direction of the medium.
TRON’s advocates believe that the currency could hugely gain in value in the years to come, with one analyst suggesting that a price target of $0.18 by 2025 is feasible. However, TRON and other cryptocurrencies remain a youthful asset class, and while the likely flow of institutional money into TRON and other creditors is exciting, it would be rash to draw any undue conclusions regarding future price discovery. Overall, the outlook is highly positive for TRON and cryptocurrency, but there may be peaks and troughs in their fortunes in the years to come.
For more detailed predictions, read our TRON price prediction guide here.
In conclusion, TRON has performed extremely well for investors during its lifecycle, and its developers have some intriguing plans regarding use cases. This is an unusual cryptocurrency platform compared to some of the others on the market, but if its main content creation offering catches fire then it could become a hugely valuable platform in the future.
TRON’s goal is to build a bridge between content creators, and their audiences, and remove the middlemen such as advertising firms, centralised platforms like streaming services and app stores. The project definitely has potential, as doing what it does is one of the oldest goals of the crypto industry.
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