TRON (TRX) was one of the most promising encryption projects to date. Almost every other day, TRON announces new progress, new big projects, another partnership and the same way. Its creator, Justin Sun, has also managed to create one of the strongest and most supportive cryptic communities around TRON.
With all this taken into consideration, TRON should be as huge as Bitcoin now, right? Well, not really. In reality, the value of money is only a fraction of a penny. However, there are multiple factors that have led to this, and the current situation probably will not remain forever. So, let's take a closer look at the coin, and try to figure out when TRON will arrive at $ 1.
Why is the price of TRON so low?
In many ways, the price of a cryptocurrency is one of its main representatives. This is especially true when it comes to newcomers in the encrypted world, who are not yet aware of how to properly study a certain currency. With this in mind, the price of TRON would make you think it is among the worst coins in circulation. But why is its price so low, if the project has been so successful, especially now, in 2018?
Well, there are some reasons. The bear market is obviously the one that has held a tight grip on the whole cryptic world since January. This is old news, but in short, the losses were so great that many coins managed to lose over 90%. Even the powerful Bitcoin has a value of $ 6,400 at the time of writing, while in January its price was $ 20,000.
Of course, TRON was no exception and the currency fell to new lows. Another reason why its price is only $ 0.018648 right now is its huge circulating offering, as well as its even larger, total offering.
When you look at Bitcoin, the price is dominant compared to any other currency. No other coin is even closer, in truth. However, the total Bitcoin supply is only 21 million BTC. Its circulating offer is just over 17 million BTC. Now compare it to TRON's circulating offering of TRX 65.7 billion and a total supply of 99 billion and get an idea of why the value of money is so low.
What can be done about it?
TRON was one of the busiest cryptocurrencies in circulation, and did much to improve its value. The value of the digital currency derives mainly from utility, and TRON has become very useful. He did it through different partnerships, huge projects, personal expansion and the like. However, probably due to the bear market, this was simply not enough.
Money has also tried to address its oversized supply through symbolic burns. Since the launch of its MainNet, TRON has transferred its coins into a new blockchain. The remaining coins that are still in the form of ERC-20 tokens have been burned on several occasions so far. However, there is still too much TRX to influence its price in an important way.
So when will TRON arrive at $ 1?
This is a difficult question to answer, especially because of market behavior. Many analysts have predicted that the currency will reach $ 1 before the end of 2018. However, it seems that less and less can be expected as we approach the date. It would take a huge change for such a jump, and if nothing like this happens, the first we can expect TRX to reach $ 1 is at some point in 2019.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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