Tron’s price is steadily making its way up, and the Fib extension tool shows the next upside targets. So far, all the tech indicators are hinting at the idea that more gains are on their way to Tron.
Technical indicator signals
The 100 SMA went above the longer-term 200 SMA in order to confirm that the path of least resistance is to the upside. Long story short, it’s more likely to climb rather than to fall. Tron’s price formed and confirmed an inverse pattern to signal that there’s an uptrend on its way.
The appliance of the Fibonacci extension tool unveils the nest upside targets. Tron’s price managed to already surpass the 38.2% extension, and it’s closing in on the 50% extension. Stronger selling pressure could take the crypto up to the 61.8% extension or the 78.6% extension.
RSI is also moving up showing that there’s still some purchase pressure left. This could be quite enough to keep the bulls under control until Tron’s price reaches the next potential resistance levels just before buyers book the profit. Stochastic is also moving up, and this means that Tron’s price could do the same.
The market’s current state following Bithumb’s hacking
Lately, the main cryptos in the market seem to be finally doing better after the bearish trend that took control over the market recently. The coins managed to get over the Bithumb hack news better than everyone expected especially if we compare this unfortunate event with the hacking of the smaller South Korean exchange that took place on June 10. Some voices in the crypto space claim that this happened due to reports saying that Tether was used to manipulate Bitcoin’s price back in 2017. This lead to the belief that the probe by US regulators could trigger the same results.
Overall, Tron’s price seems to have been corrected, and an upward journey is currently expected for Justin Sun’s crypto.
TRON price predictions 2019: TRON is a platform which allows you to build and store the applications. It also allows you to execute the smart contracts based on its blockchain. Moreover, it makes it easier for you to freely publish the content as well as data. This ensures that for the entertainment industry as well as media industry, it is actually a pretty valuable blockchain. This also means that the applications of this particular blockchain are plenty.
With that being said, it is important to look into the cryptocurrency an investment asset as well. Many of the investors are trying to find out whether it is at investing levels currently or not.
Tron Dapp Usage Exceeds Ethereum
The blockchain project, as well as its native currency TRX, has amassed a lot of attention over the past months. Tron provides a platform for developers to create and deploy decentralized applications (Dapps). Ever since Tron launched its Mainnet, it has been a treat to Ethereum. Recently, the founder and CEO of Tron – Justin Sun – said that the network now supports over fifty decentralized apps. Sun made this announcement on Twitter on Thursday, and he said the network is aimed at reaching 80 Dapps in the near term.
Tron Blockchain Achieved 100 Million Transactions in 173 Days
Justin Sun released this statement after the blockchain achieved a major milestone earlier this month. The network achieved 100M transactions over a period of 173 days. This means that an average of 578,034 transactions are being carried on the blockchain of Tron every day.
Tron Sees More Dapp Usage
Back in August, Martin Koppelmann said that a crucial statistic to use in measuring the growth rate of a smart contract protocol is the number of decentralized apps that interact with one another and the usage of decentralized apps. Koppelmann is the founder of Gnosis.ph – a prediction market platform based on the blockchain of Ethereum. According to Koppelmann: “The usage of Dapps is the number we care about. The next thing is to look out for the number of decentralized apps that interact with each other and benefit from each other for being on the same platform. As a side effect, the value of Ethereum (ETH) will then be a function of the demand for the use of apps in this open, reliable, and interrelated environment.” Tron is a smart contract protocol just like Ethereum, and the value of Tron comes from the ecosystem of its decentralized apps and active users.
Tron Dapp Usage Exceeds that of Ethereum
The top three decentralized apps on the Tron network have 2,300 users on average. TRONbet records 2,500 active users and a transaction volume of two million on a daily basis, according to DappRadar. DappRadar is an online platform that provides data on the usage of decentralized apps on major blockchain networks. In comparison, the top three decentralized applications on blockchain of Ethereum has 700 users on average. The three biggest decentralized apps on the network are IDEX, Crypto Heroes, and ForkDelta. However, EOS accounts for the highest number of decentralized app users on its network. TRON (TRX) Price Today – TRX / USD
EOS is the world’s second most valuable smart contract protocol after Ethereum. The top three Dapps on the network have almost 5,000 users on average; this is more than the Dapp users of Ethereum and Tron combined. The top three Dapps on EOS are EOS Knights, PRA CandyBox, and EOSBet. The Dapp usage on the network of Tron has recently exceeded that of Ethereum in terms of daily active users and decentralized apps. Tron and EOS have been focusing more on scalability over the past couple of months. They are focusing more on scalability in their development with the aim of supporting as many decentralized apps as possible in the ecosystem. This is something Ethereum has been lacking, and that is why a lot of developers on the network are now moving to either the blockchain of EOS or Tron.
TRON price predictions 2019:
You can check the cryptocurrency’s current price in the chart at the end of the article. According to investingpr.com, within 5 years, it is expected to trade around over $1. This is the reason why it is a good investment option as well. The main reason why the cryptocurrency is slated to increase by such a significant amount is owing to the increased usage of the platform. As more and more developers start using the platform, it will result in the appreciation of the cryptocurrency as well. This is the reason why the cryptocurrency is slated to increase further. Source: investingpr.com
The decentralized platform will also ensure that it becomes easier for the developers to publish the content. It is one of the very few blockchains which enables easy publishing of the content without any restrictions. This will again provide enormous versatility when it comes to the applications of this platform. As the applications of this platform increase, the usability will increase further. As the usability increases, the prize of the token will increase further. This is the reason why the potential in the platform is enormous. Source: investingpr.com
Thus, if you’re looking to invest in TRON now might be the perfect option to do so as the cryptocurrency is increasing in value consistently. With such large headroom for return in the future, it is worth a look. Source: investingpr.com
Q1 ICO Trends and Market Analysis
TRON [TRX] despite the recent ETH vs TRX controversy expands with 2500 nodes in 31 countries
The drama related to the recent launch of Tron’s Test Net is still not done. Within a week of the Test Net launch, it has expanded to 31 countries with 2500 nodes despite a bearish market. TRON’s first technical debut – Test net came along with completed nodes, basic network functions, transactions, and customizable modules. This has given fans, followers and skeptics alike a transparent view of Tron’s solid progress.
Jacob Guinto, a TRON enthusiast tweeted:
“Holy, KILLING IT JUSTIN KILLINGGGGG ITTTT! I have personally setup 3 nodes in Czechia – easy process, immediate projection on the map – this is for real guys 🙂 great work from Tron foundation and Justin Sun. I think you can setup a node on the moon now.”
There were also people seeking clarification like Kasei Arakaki who asked,
“This is not a doubt or FUD. Asking a genuine question… do we have evidence these nodes are functioning and authentic? I’d love to see some more tangible information regarding the test net and how it is currently running and performing. Maybe someone could provide links for me?”
Tron plans to shed its ERC20 identity and migrate from the Ethereum platform. Once, this goes live, Tron will no longer be an ERC20 token but will become a true token within its own ecosystem.
When TRON’s code first arrived on the scene, TRON was a vibrant, energetic, upstart of a company; a great reflection of its millennial founder.
Justin Sun, the founder said,
“Today, TRON is retaining its fearless energy but adds a much-needed groundedness with the debut of its technology.”
WHAT IS TRON?
CRYPTOCURRENCY’S BUDDING FOUNDER JUSTIN SUN WANTS TO CHANGE THE INTERNET
As the cryptocurrency craze continues, with Bitcoin leading the way, a slew of smaller, cheaper projects are emerging that investors are getting excited about. One is Tron, a coin that its Chinese founder hopes will challenge the world’s major content providers, such as Facebook and YouTube.
According to its website, Tron (TRX) is a blockchain-based platform that seeks to decentralize the internet, or rather content-sharing on the internet, ensuring that artists, creatives, musicians, authoring can release their content without having to use a middle company, be it Amazon, YouTube, Apple, or Facebook.
The digital currency was created by 26-year-old Justin Sun, a self-proclaimed protegé of Alibaba chief executive and billionaire Jack Ma. He has amassed 350,000 Twitter followers, promoting the coin to both its loyal followers and investors, as well as to the wider cryptocurrency community. Forbes listed him in its 30 under 30 for Asia in 2015 and he previously worked for another fledgling cryptocurrency, Ripple (XRP).
The former University of Pennsylvania student is one of the most vocal crypto-founders on the platform, from hosting a one-hour livestream about the coin to announcing partnerships to announcements of a new San Francisco office to promoting a vote for the coin to be accepted by new digital exchanges. He has even engaged in a back-and-forth with the famous founder of Litecoin, one of the top four cryptocurrencies, Charlie Lee, on Twitter.
THE TRON FOUNDATION
The currency to be used on the platform is known as “Tronix.” According to Sun, the cryptocurrency is already set to have a user base of at least 10 million, with Sun announcing that the Tron network will be implemented for his own Chinese social networking app Peiwo.
The coin has so far struck partnerships with a series of major companies, including Chinese video hardware and software provider Baofeng (which Sun dubbed the “netflix of China”), oBike, the largest bike-sharing company in Singapore, which will release “oCoins” on the Tron platform, with riders accumulating coins the more they ride. It also boasts investors such as Wei Dai, the founder of bike sharing company ofo, and a team of developers from Alibaba and Microsoft.
Sun has floated that it has a partnership in the works with a space exploration company, and rumors abound online about a partnership with Alibaba, although these remain unfounded.
It is mostly bought with Bitcoin or Ethereum, the number one and two cryptocurrencies, on the Tokyo-based exchange Binance, and at the time of writing had a market cap of almost $6 billion, despite its low price. The coin began life in September, trading at just a tenth of a penny.
That country is a major market for digital coins, and the country has signaled that it will not ban cryptocurrencies, but more stringently regulate them to stop market manipulation and fraud.
Cryptocurrency critics and advocates of Tron are divided on the potential of the project. Hype, potential, fears and doubt all shape the market price of a cryptocurrency, as does the market supply, and Tron is no different.
Detractors of Tron say that the coin has a circulation of 65 billion coins, too much for it to have any significant monetary value. By contrast, Ripple has a circulation of 38 billion. They also say that Tron is just an idea that is yet to be implemented, so no one can truly tell if it will be a success.
They have also pointed to the project’s “whitepaper” as one that bears hallmarks of other projects. But Sun has used his social media presence to add a sheen of transparency to the coin, challenging the claims of copying other projects and dampening the “FUD” (fear, uncertainty and doubt) around this coin.
There are day-traders who are trying to make money from cryptocurrency, buying low and selling high, but there are others who believe in the technology they are buying into.
Tron is in the top 15 cryptocurrencies
Supporters of Tron on social media point to the plans of Sun, as well as his leadership of the coin, his Chinese connections and its position in the top 15 cryptocurrencies, as a sign of the potential that the coin and the Tron platform could have for the internet, be it for gaming, mobile apps or online marketplaces. For example, on January 22, Tron Puppies will be released by game.com, where users can use Tron coins to play the game, Sun tweeted.
Whether Tron can shake up the Internet as Sun hopes remains to be seen. But what this coin has, like many others, is ambition to challenge the financial system and change the online space as we know it.
So cryptocurrency observers will be keeping an eye on Sun and his bid to surpass the Bezos’ and the Zuckerberg’s of the world, and investors will hope that the project that shares its name with the futuristic movie takes them to the stars.
NOTE: Investing in cryptocurrencies carries risks and anyone investing in the market should be prepared for volatility, a lack of regulation and even the presence of frauds and scams. Anyone considering such an investment should research their investment and be prepared to lose said investment.