Recently, the cryptocurrency community has been actively discussing TRON. The cryptocurrency was mega-popular a month ago, but in the middle of January, it experienced an unexpected fall. Nevertheless, it managed to get out of a rapid peak and strengthen its position. It is not surprising that many traders thought about buying coins before the exchange rate rose again. However, how do experts assess the prospects for cryptocurrency? Will TRON be able to gain a foothold in the world rankings and is it capable of bringing tangible profits to investors? Let’s try to find answers to these questions.
The world saw a new cryptocurrency in September 2017, dubbed TRON (exchange ticker – TRX). Its ideological inspirer was Justin Sun – a young developer and devoted admirer of Tim Bernes Lee, who was directly involved in creating the World Wide Web.
The main idea of Suna was the creation of a global entertainment network based on the blockchain. He managed to attract the best Asian specialists to the project and formulate the basic principle of the innovation platform operation.
TRON is a decentralized open source environment in which anyone can store, publish and distribute entertainment content.
In other words, TRON users will have free access to virtual entertainment from around the world. They will be able to play online games, place bets, sell content, be in social networks, watch online broadcasts and so on. TRON differs from the usual entertainment web resources that it is based on distributed database technologies.
The main idea of the developers is to use the blockchain for free and decentralized distribution of content. According to Sun, sites like Google Play and the App Store are focused on meeting content needs of a limited number of users.
To develop and promote his project, Justin Sun created the non-profit organization TRON Foundation. It is registered in Singapore – a country that is known for its loyal attitude to cryptocurrency development.
To raise funds based on Ethereum, they conducted an ICO, during which users could purchase internal platform tokens. It lasted from August to September 2017 and brought developers $ 70 million of investments.
However, what is most interesting that investors invested money in a product that exists only in the form of descriptions on the official website of the project www.TRON.network.
However, even the hypothetical perspectives of the entertainment blockchain platform look so attractive that many users are already interested in how to get its tokens.
They released 100 billion tokens and immediately announced a scheme for their distribution among users. 40% of all issued TRX were sold through ICO, 15% left for sale to private investors, and 35% were frozen on the balance of the TRON Foundation.
Representatives of the fund claim that these funds are reserved to cover costs during the development of the platform. Neither Justin Sun nor his team members can use them for their own interests or to manipulate the course for personal gain.
When the platform is launched, participants of the system will be able to “mine” coins by posting high-quality content that will be interesting to a large number of users.
According to the developers, similar tools will be used to assess the quality of content as in social networks (for example, likes and reposts). However, how the rewards will be charged is still unknown.
In addition to its own, the platform will support other tokens ETH, BTC, EOS and QTUM. That is, users will be able to exchange some cryptocurrencies for others directly within the system. In general terms, this mechanism resembles the internal decentralized exchange of Stellar.
Its price was only 1 cent in September 2017 and the market capitalization was $ 70 million. Throughout the fall, the course did not change and a few people believed that TRON could break into the top.
However, thanks to an active PR campaign and the attraction of large cryptocurrency investors in December, the market capitalization of the coin reached $ 160 million and the price rose to 6 cents.
Capitalization overstepped the $ 2 billion mark in early January and the cryptocurrency entered the top 10 world rankings, displacing NEO, Stellar and even Litecoin. The price of the token rose and stayed at 10-20 cents.
However, the cryptocurrency exchange rate sharply collapsed in mid-January. The price fell to 4 cents. The unexpected drop was due to the developers blaming the unauthorized discharge of a large number of tokens.
From an account on the Binance cryptocurrency exchange, about 6 billion TRX worth $ 300 million were sold. Investors blamed Justin Sun for this. The network leaked information that the account belongs to the main developer TRON.
Justin tweeted that he has nothing to do with the sale of assets or the account from which they were sold. According to him, someone specifically linked the account with his name to compromise the developer TRON. Full confidence in the company has not recovered, but the coin price has ceased to fall.
The project even received a new impetus to development a week ago. The developers officially announced the start of cooperation with Peiwo. This is a popular Chinese audio portal with 10 million active users. TRI-based Peiwo APP application will be created for them based on TRON.
The cost of the TRX kept at 4.5 cents at the time of this writing and the market capitalization has already overcome the $ 3 billion barriers. However, due to the fall of the cryptocurrency in January, it came out of the top 10 and now occupies the 14th line in the world ranking.
Analysts are confident that by the end of 2018 the value of the coin will increase to 50-60 cents. Some experts even talk about $ 1 per token before the end of this year. The rate of the most pessimistic forecast for 2019 is $ 5 per token.
Specialists from Wall Street expect that by the end of 2020 the TRX will cost at least $ 40. If their forecast is confirmed, then every dollar invested in TRON in 3 years will pay off 1000 times.
Why are the experts confident that, despite the erosion of confidence in developers, a sharp rollback of the rate and the lack of a finished product, the market capitalization and cost of TRX will grow?
So experts have every reason to believe that TRON is not an artificially inflated bubble, but a promising and long-playing project, all of whose advantages will become apparent over the next ten years.
The best time to buy the TRX at a low price is now. It makes no sense to play on daily or weekly fluctuations in the course of a coin, but if you hold assets for at least 2-3 years, you can get really tangible profits.
However, the greatest winners will be those traders who will keep the coins until the moment when at least a few large entertainment projects will be transferred to TRON. When this happens, the course of the coin rushes sharply upwards and it will only be necessary to sell the accumulated cryptocurrency in time until the excitement around it diminishes and the price starts to