The MainNet of Tron (TRX) is presently live, and it is currently undergoing vast testing for bugs and susceptibility to make sure that the platform is stable and secure before the independent day, which is the launch of the genesis block. The launch is scheduled for June 25th.
Nevertheless, there is a crucial question that has been lingering in the minds of Tron (TRX) traders, holders, and enthusiasts. That question is “will the value of Tron (TRX) reach $1 by the end of 2018?”
The Present High Supply Concerns of Tron (TRX)
The HODLers and enthusiasts of Tron are continuously concerned about the high circulating supply and high total of the digital currency. The present total supply of the coin is 100 billion while the circulating supply is presently at 65.75 billion.
For the value of Tron (TRX) to get to the $1 mark, its market cap will be $65.75 billion, which is $5.5 billion more than the market cap of Ethereum right now. This means that the digital currency will have to outdo eight digital currencies to get to the second position.
Will the Planned Transactional Coin-Burn Be Enough?
Using the present set up of transactions on Tron’s Mainnet, users can carry out up to twenty-five transaction every day for free. A coin-burn of 0.1 TRX will be needed to create every account in a decentralized application on the platform.
The cost of transactions will be 0.001 TRX. Hence, to burn 1 TRX, you either need to carry out 1,000 transactions or create ten new accounts on the decentralized application. Considering the number of users on the Tron platform (more than 100 million), the coin-burn can reduce the amount of Tron (TRX) tokens in circulation over time.
A reduction in supply will help the value of the coin to grow as a result of gradual scarcity. This way, the value of Tron (TRX) can reach the expected $1 in no time.