- Tron Hits New Multi-Year Lows
- TRX/USD Price Analysis and Prediction
Together with other coins in the Crypto market, Tron has also had a rough week, losing billions in 24 hours, currently, the coin is sitting below $200 billion, loitering around lows last seen in May 2019, at $189 billion overall market capitalization.
Currently, the overall market is hovering on a thin line without strong support, an obvious decline can be seen down to $162 billion where the Fib236 dating from Dec 2018 – June 2019, the high low swing could act as support. The market is a bit shaky as there are scares among traders as the total outlook of the coin is nothing close to a positive trend.
TRX/USD Price Analysis and Prediction
There is a high possibility of Tron hitting a new multi-year low if the crypto market continues its bearish trend. TRX is close to hitting the local bottom at $0.0119 and as there is no major support in view, an extended decline to a new low is possible. Currently, TRX ranks 11th by market capitalization, with the updates lined up for TRX, the future of the coin is quite positive.
TRON (TRX) Price Today – TRX / USD
Some of the important points that could have a positive impact on Tron’s price in the coming years include:
Updates are coming after the Odyssey 3.1 update in fall 2018, which is expected to make Tron faster and cheaper, two more updates are lined up for next year. The Great Voyage update is slated for 2020 and Apollo is slated for mid-2021.
These updates will permit content creators to continue developing their brands. Also lined up is the plan to provide users with the opportunity to hold ICOs. Generally, the two updates are targeted at surging the economics of the system.
Recently, Tron announced a $100 million gaming fund to be spent over the next three years to boost its gaming sectors known as TRON ARCADE. The fund is aimed at supporting game developers to create more games for Tron.
As part of its development, Tron has been in a series of partnerships which has influenced several price surges. So far the platform has formed partnerships with key players in the content and entertainment industry. These partnerships have helped in surging the number of users of the coin and also aided the adoption and popularity of the coin. Coupled with the few updates and development which are expected to influence the price coin, several analysts believe the coin will experience a few rough patches in the road to finding its feet in 2020.