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Home CRYPTO

Is Tron Ready to Hit $1? TRX Price Prediction and Analysis

by Drop Gorn
November 13, 2024
in CRYPTO, OPINION
Reading Time: 5 mins read
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  • Tron (TRX) is a decentralized blockchain-based operating system designed to provide a reasonable distribution of income generated by digital content creators and developers.
  • The long-term Tron price prediction appears favorable, with most crypto platforms suggesting a bullish TRX price prediction and potentially forecasting it to reach an average price of around $0.665 by 2030.
  • While Tron has a promising future, it faces challenges such as competitive pressure from other blockchains, regulatory difficulties, and the inherent volatility of the crypto market.

Tron is a decentralized blockchain platform that aims to distribute digital content and online entertainment platforms’ income more fairly to content creators. The native TRX token powers transactions on the network.

Overview of Tron

The idea behind Tron is that large digital content platforms like iTunes and YouTube have too much control over their content creators and developers. Blockchain technology enables a speedy, secure, decentralized data distribution platform free from censorship. The TRX crypto was designed to power the network and motivate influencers. The TRX platform seeks to provide its users with a reasonable distribution of the income generated by their content.

JUST IN: Tron $TRX has made a new all-time high market cap of $15.8 billion and is now a top 10 crypto by market cap 🚀 pic.twitter.com/uK2sig8ZF7

— BlockNews (@blocknewsdotcom) November 13, 2024

TRON Historical Price

As of Oct 29, 2024, TRX’s price is $0.1598 and its market capitalization is $13.82 billion. Let’s take a look at Tron:

  • Price: $0.1641
  • Price: $0.1641
  • Market Capitalization: $14.19 billion
  • 1-day price change: +4.97%
  • 7-days price change: +30.3%
  • Trading volume (24H): $319.40 million
  • Circulating supply: 86.48 billion
  • All-time high: $0.3004
  • All-time low: $0.0001091

TRON was launched in 2017 as a decentralized blockchain-based operating system developed by the Tron Foundation. Originally, TRX tokens were ERC-20-based, deployed on Ethereum, but a year later they were moved to their own network.

Historical Price Data

Here is some historical price data for TRON:

  • September 1, 2024: Market Cap – $13.504057476, Price – $0.1559
  • August 1, 2024: Market Cap – $13.681642798, Price – $0.1577
  • July 1, 2024: Market Cap – $11.210662307, Price – $0.1288
  • June 1, 2024: Market Cap – $10.858643911, Price – $0.1245
  • May 1, 2024: Market Cap – $9.792379274, Price – $0.1121
  • April 1, 2024: Market Cap – $10.458537584, Price – $0.1195
  • March 1, 2024: Market Cap – $10.790233535, Price – $0.0123
  • February 1, 2024: Market Cap – $12.367538457, Price – $0.1406
  • January 1, 2024: Market Cap – $9.892135621, Price – $0.1122
  • December 1, 2023: Market Cap – $9.509555131, Price – $0.1077
  • December 1, 2022: Market Cap – $5.012006848, Price – $0.0545
  • December 1, 2021: Market Cap – $7.679502985, Price – $0.0754
  • December 1, 2020: Market Cap – $1.92284832, Price – $0.02683
  • December 1, 2019: Market Cap – $0.887251274, Price – $0.01331
  • December 1, 2018: Market Cap – $1.25446643, Price – $0.01883
  • December 1, 2017: Market Cap – $0.294233681, Price – $0.004475

TRON Price Prediction 2024

According to Coincodex, in 2024 TRX is forecasted to change hands in a trading channel ranging between $0.126859 and $0.162621, leading to an average annualized price of $0.139395. This could result in a likely return on investment of around 20.1% compared to the current rates.

As of Oct 29, 2024, TRX is trading at $0.1641.

Here are the monthly average price predictions for 2024:

  • October 2024: $0.141142 (19.3% ROI)
  • November 2024: $0.137309 (13.6% ROI)
  • December 2024: $0.139734 (7.04% ROI)

As of Oct 29, 2024, TRX is 97% bullish and 3% bearish, indicating bullish sentiment according to Coincodex, with 28 technical analysis indicators signaling bullish and 1 bearish signal.

According to Binance, 35.48% of the 62 users’ ratings for TRX are bullish and 4.84% are bearish on Tron, indicating an overall bullish sentiment.

TRON Price Prediction 2025-2030

According to Binance’s price prediction for Tron, the value of TRX may increase by 5% and reach $0.0213541 by 2030.

  • 2025: $0.0167315
  • 2026: $0.0175681
  • 2027: $0.0184465
  • 2030: $0.0213541

According to Coincodex prediction, TRON is projected to increase over the next several years with prices likely reaching $1.182495 by 2029. This projects a 641.70% gain from its current value of $0.1642 as of Oct 29, 2024. The long-term prediction suggests a bullish trend with potential highs of $1.182495 and lows of $0.126859 over the years.

Conclusion

The long-term Tron price prediction appears favorable, with most crypto platforms suggesting a bullish outlook, potentially reaching an average price of around $0.665 by 2030. According to Cryptonewz’s price prediction for TRX, it will likely trend upward over the next few years if broader crypto market conditions remain promising.

Tags: $TRXBinanceCoinCodexCryptonewzethereumTron
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