Tron - what is it? Quite popular queries on the Internet include “tron wiki”, “tron wikipedia” or “trx cryptocurrency latest news”, “trx forecast”. Why are people so interested in this project? Let's take a closer look at it.
The TRON (TRX) project is a cryptocurrency whose developers are currently developing the idea of collaborative consumption, which is that users will be able to exchange entertainment content on a single global platform.
What is Tron cryptocurrency (TRX)
Tron is the name of a cryptocurrency project. The internal currency of the project is the cryptocurrency TRONIX (Tronics). However, this is not the only asset available to users. There is also TRON Power, which allows you to vote for the further development of the project, and TRON 20, designed to issue your own tokens in much the same way as happens on the Ethereum network. Of course, the Tron coin and its price gives value to the rest of the tokens of this network. For a user who is ready to block some part of his TRONIX, there is the possibility of receiving in return TRON Power (TP), voting rights in the system, and over time, some small dividends from the activities of the network.
Mining is not provided in this network, the total number of TRX tokens is limited: there can be a maximum of 100 billion, just like Ripple or Stellar. The ICO of the project took place about a year ago. An amount exceeding US$70 million was collected by the developers in late August and early September 2022. It is interesting to note: investors invested exclusively in descriptions and advertising located on the official website of the project at www.TRON.network. The excitement among investors was so great that the servers of the Binance cryptocurrency exchange could not cope with the load.
TRX tokens were distributed as follows:
- 39% of the asset was sold to investors during a public sale.
- 35% is allocated to support the project and ecosystem.
- 16% of TRX coins were received by private investors at an early stage.
- 9% of the tokens went to a Chinese technology corporation, whose name was not disclosed.
What does Tron look like? The Red Throne has an attractive icon. This is a transparent white prism on a bright scarlet background. What does Tron mean? Unfortunately, the decoding of the name is not available online.
TRON Review
| Coin name | TRON |
| Coin symbol | TRX |
| exchange rates in US dollars | $ 0.068 |
| Market capitalization | $ 6,911,629,525 |
| 24h Volume | $ 867,179,484 |
| supply | 101,834,689,889 |
TRON is currently worth $0.068 USD with a market capitalization of $6,911,629,525, making it rank 29 on the list of the most valuable coins. TRX has a 24-hour volume of $867,179,484, according to the TechNewsLeader Price Index. TRON price changed 1.24% in the previous 24 hours. Over the past 7 days, the price of TRX has changed by -2.98%. It is limited to a maximum quantity of 101,834,674,780 coins.
Tronix (TRX) Development Team
The personality of its founder, Justin Sun, is also important for understanding the prospects of the TRON project. Undoubtedly, this entrepreneur is also a media person, a lover of hype and sensations. The ICO of the project, which took place in China at the end of 2022, was already subject to the ban by the Chinese authorities on conducting ICOs in the country. It seems that Jack Ma, the owner of the Alibaba Group corporation, could not have done this without the influence. Tron team leader Justin Sun, who is only 27 years old, has already served as the head of Ripple China. The core of his team moved with him to TRON from the Chinese Ripple. Also participating in the project are Chinese businessmen such as Tan Bingsen (creator and head of Clash of Kings), Dai Wei, creator and head of OFO, Yin Mingshan, creator of LiFan.
Justin Sun. Creator Tron (TRX)
Justin Sun, one of the few global billionaires under the age of 30, is also known for his friendship with the founder of the Chinese online sales giant Alibaba. And any support from Alibaba will be a noticeable competitive advantage. The TRON Foundation and the management company are registered in Singapore, which is a jurisdiction friendly to digital currencies. The TRON Foundation is dedicated to providing grants in the project's cryptocurrency to the best developers and the most active users.
Cryptocurrency Tron (TRX): the story of its rise
What does the Throne stand on? Initially, Tronix (TRX) tokens were issued on the Ethereum blockchain, ERC-20 standard. In fact, these were only promissory notes for receiving the same TRX tokens, only on their own blockchain. From June 21 to June 24, some tokens were exchanged for others. The Odyssey 2.0 network officially launched at noon on May 31st in test mode, giving everyone time to set up their wallets and browsers.
The developers called the completion date of the transition, June 25, “Independence Day.” On this day, the genesis block began to spread on the network and everyone said what a wonderful Tron cryptocurrency is. The news was incredible. Some people said that “Tron will be the Ethereum killer.” At the time of the ICO, the TRON cryptocurrency (TRX) was exchanged for US dollars at the rate of 1:0.0019. In relation to Bitcoin, the Tron rate was 0.00000038. In September 2022, this token began appearing on cryptocurrency exchanges. At first, the TRX price did not exceed $0.003, and the total market capitalization fluctuated around $70 million. It seemed that the TRON cryptocurrency would never get into the top digital currencies: throughout the fall, the value of the TRON cryptocurrency remained virtually unchanged.
History of the growth of the Tron (TRX) cryptocurrency rate
However, the price rose to $0.25 and the Tron cryptocurrency reached a total market capitalization of $160 million. This happened in early December, thanks to the activity of the advertising campaign and the attraction of large investors. The capitalization of the cryptocurrency has surpassed the $2 billion mark. She entered the top 10 of the world rankings. We managed to leave NEO, Stellar and even Litecoin behind. The price of the token increased significantly, and seeing the rate of 10-20 cents, investors calculated their profits.
But already in mid-January there was a sharp drop in the cryptocurrency rate, which did not stop at 4 cents. An unknown person sold about 6 billion TRX tokens for a tidy sum of $300 million through the Binance cryptocurrency exchange, and many believe that it was the founder of the project himself. Confidence in the coin fell sharply, remaining low to this day.
Information about TRX from Coinmarketcap. Now (end of July 2022) the cost of one token is $0.06442, with a project capitalization of $6.4 billion. The cost of the throne in rubles today is 4.38 rubles per coin. Tron's low price in rubles makes it an attractive asset for novice crypto enthusiasts. This is TRX cryptocurrency. Rate to BTC: 1 TRON TRON = 0.0000015619418067635 BTC. 1 Bitcoin = 640,228.72 TRON.
Tron Price Prediction: Technical Analysis
Tron, like every other cryptocurrency, has seen some good times this year. It has also lost a significant portion of its profits as a result of the ongoing general market pullback. The price of TRX has fallen from a yearly high of $0.1646 to $0.07162, and the market is yet to show any strong signs of recovery. However, we will look at some technical indicators to see what could happen in the short and long term.
Price growth has slowed significantly and Tron is now trading within a very tight range. This could be consolidation because volatility has decreased, as shown by the Bollinger Bands in the figure below. The wider the space between the bands (the area shaded in blue), the higher the volatility.
How to buy Tron
If you want to buy Tron cryptocurrency at a good price, then you can do this on various exchanges or exchangers, including Matbea.com. Just remember to do your research and never invest more money than you can afford to lose.
This means that for traders the market is very uneventful at the moment. The 50 and 200 moving averages, which are critical in determining market direction, indicate that a complete trend reversal to bearish could occur if the trend continues with a slow but consistent decline in price. As shown in the following chart, the 50 MA is falling towards the 200 MA, indicating that the price is not supporting a significant upward move. At the moment, the 200 MA still serves as support where the price bounced on its way down. If it continues to serve as support, then there is a chance that the price will bounce up from there after consolidation.
In our Tron price forecast, we will look at another critical indicator - the relative strength index, which shows a change in trend that the Tron price may fall a little more, as it is currently at 38. Typically, this should reach 30 for a trend change up. although this is not always the case.
Below are the critical support and resistance levels that traders of this asset should keep in mind when trading, according to Walletinvestor:
- Resistance level (R3): 0.0836;
- Resistance level (R2): 0.0811;
- Resistance level (R1): 0.0764;
- Pivot point: 0.0739;
- Support level (S1): 0.0692;
- Support level (S2): 0.0667;
- Support level (S3): 0.0621.
Is it possible to mine TRON?
TRON is based on the Delegated proof-of-stake (DPoS) consensus algorithm, which is very different from the proof-of-work algorithm of Bitcoin. Therefore, there is no mining as such on the network.
A rotating cast of 27 “super representatives” validates the transaction on the blockchain. They are chosen every six hours, blocks are created on the blockchain every three seconds, and super representatives receive 32 TRX as a block reward. It is possible to join the TRON blockchain by running a witness node (proposing blocks and voting on protocol decisions), a full node (broadcast transactions and blocks), or a Solidity node (synchronizes blocks from full nodes, provides an API). Users can participate in the management of the TRON network, but to do this you need to freeze TRX tokens on your account and receive in return an equal number of “Tron Power”, which are a unit of vote.
Latest news and events regarding Tron
The Tron ecosystem is growing rapidly. It already serves as a faster and cheaper alternative for USDT and DeFi transactions than Ethereum. This may be why the number of accounts and transactions continues to reach new highs. The current number of accounts exceeds 27 million, while the number of transactions is almost 2 million, but there is more development.
BSCPad, one of the first decentralized Initial DEX Offerings (IDO) on the BSC network, has partnered with Tron to create TRONPAD. This will be the first IDO built on the Tron blockchain. Tron is teaming up with BSCPad because some of the brightest minds are working on this project.
BSCPad promotes a culture of fairness when launching crypto projects and distributing liquidity. This is in addition to being a repository of project development talent. Tron intends to replicate these strengths with TRONPAD and provide a level playing field for investors to benefit from the projects in which they invest.
Where to store the Tron coin
So, Tron cryptocurrency can bring you excellent income in the future, so you need to learn how to store it correctly and securely. Next, we will describe the best wallets for securely storing Tron cryptocurrency. Many consider Tron to be Ethereum's main competitor, as both companies are pursuing the goal of creating a decentralized network, and therefore, like Ethereum, Tron can also one day "take off."
Tron Android Wallet - mobile wallet
An official wallet for Android OS users, developed directly by the Tron team, it will be an excellent option for storing TRX cryptocurrency. You can be confident in the safety of your assets: the wallet generates a mnemonic phrase for recovery of 24 words. Additionally, this wallet can only store and send Tron cryptocurrency; You can also add private keys from other wallets into it.
TRON Wallet - mobile wallet
TRONWallet is a secure P2P crypto wallet and exchange for users of the Tron platform. TRONWallet is officially supported by the Tron Foundation and is their recommended wallet. With TRONWallet you get a beautiful design and security since you will always control your private keys. You can also make several TRONWallet wallets for free. At the moment, this is the only official wallet available on both iOS and Android.
It is preferable to store TRX offline for greater security, avoid online wallets if possible. Recommendations to increase asset security: do not save private keys or mnemonic phrases in digital files or devices, use antivirus software and use only trusted Tron wallets.
Tron Cryptocurrency Resources
Although the Tron cryptocurrency is to some extent similar to the most popular Ethereum cryptocurrency, it still has some new functions. Now we will talk about two resources, Bandwidth and Energy, which can be obtained by using the Freeze function. Let us explain that the Freeze function allows you to freeze some of the funds in your Tron wallet for a certain number of days, and in return you will receive one of the resources; you cannot get both at once. Freezing is carried out for a period of 72 hours.
- Bandwidth. Bandwidth allows you to transact on the Tron network without paying any gas fees. Initially, each wallet user receives 5,000 units of this resource, and with each transaction it is consumed, but in general this amount is quite enough to satisfy most needs. 5,000 units are enough for 25 transactions on the Tron network.
This resource is restored over time, but in some cases, for example, when using some dApps where you need to make many small transactions, the initial Bandwidth volume may not be enough for you. Therefore, based on your goals, it makes sense to freeze funds to obtain the Bandwidth resource.
In addition, Throughput is a measure of the activity of Tron coin holders, allowing you to vote for super representatives. The right to vote is given by the Tron Power resource, it is necessary to participate in the network consensus.
Energy. Energy is the resource needed to create and run smart contracts. This resource is not restored on its own, so to maintain its sufficient level it is necessary to freeze it and obtain Energy.
