TRX is an appealing choice to start a business in digital assets for amateurs and experienced traders and investors. The reasons why Tron could be a good investment approach are shown here.
Tron has Increasing Statistics across several Areas
TRON has progressed exponentially in crucial areas of decentralized finance which will observe its continuous existence in such a saturated market. TRON’s blockchain altitude has gone beyond 42 million. Furthermore, TRON’s current total number of accounts has risen to 100,843,165. In addition, the total number of transactions on the TRON network reached 3.45 billion. Having a rising number in terms of account holders makes the TRON Network an eye-catching opportunity for investors. If a network fails to have a huge number of account holders, this is a sign of a lack of sponsorship. In TRON’s case, the number of accounts is only going to increase with each weekly report. The drivers of the price are the reputation of TRON on the market, risk sentiment, Tron partnerships, TRON network expansion, economic recovery, and tighter fiscal policies.
TRX is Affordable
Tron is currently being traded at $0.065per coin. In comparison to other coins that are supported by fully functioning blockchains, TRX is relatively cheaper. You can buy 1,000 TRXs and it will set you back $60. Even 10,000 TRXs will cost $600. This means that you can invest in TRON by purchasing more coins and consider them for the long-term investment. TRX reached an all-time pinnacle of $0.3004 on 5th January 2018 and hasn’t tested such a milestone in years. With its current trading price 77% lesser than its all-time high, Coin Price Forecast has weighed in on the future valuation of the cryptocurrency.
TRON Has Great Speed and Lower Transaction Fees
The primary reason why TRON moved away from Ethereum was because of its slow processing speed. This led to congestion in the network. With the TRON network’s user base growing substantially, most customers started complaining about the high gas fees associated with completing transactions. As a result, TRON moved to a better network and this has played an invaluable role in the daily transaction counts of the cryptocurrency.
Ethereum supports 15 to 30 transactions per second. ETH has been involved in 1.28 million transactions at an average transaction fee of $46.67. Bitcoin supports 4 to 6 transactions per second. BTC has been involved in 285,302 at an average transaction fee of $1.87. Daily transaction counts better than ETH which serves as a transactional currency as well as a coin for settling DeFi transactions is one of the high achievements for TRX.
Substantial increase in Total Value Locked in Tron DeFi
Total value locked in Tron is continuously increasing and Tron considerable portion of the total value locked in decentralized finance. This is great for a cryptocurrency that is competing in a market with ETH, ADA, EOS, NEO, and DOT among others for a share of the liquidity being poured into cryptocurrencies.
More applications on the TRON Network mean more user activity on TRX include sending, receiving, buying, selling, and holding of the cryptocurrency. Improved volumes will lead to improved market capitalization which could see TRX break into the top 10 largest digital assets in the world.
TRON Mainstream Partnerships
Mainstream partnerships have a great impact on a cryptocurrency and its issuing authority. The announcement of new companies accepting crypto payments is one of the most indispensable drivers of a coin’s price. TRON Foundation’s partnership with CoinPayments puts TRX in the sight of 2.2 million merchants across 182 countries globally. TRON formed a partnership with Samsung, Opera Web Browser, blockchain game publishing platform, MixMarvel, and blockchain-based casino Playza. This increases the popularity of TRON and serves as one of the factors traders and investors thrive on to decide on the cryptocurrency in terms of investment. The TRON Foundation keeps searching for great opportunities which can increase the user base of its network as well as the cryptocurrency.
TRON DAPPS Is a Major Driver of Price
Decentralized applications (DAPPS) are a major driver of the price of cryptocurrencies which have a blockchain that employs smart contracts. TRON has a range of DAPPS which rakes in huge trading amount and contributes substantially to its price. Tron DAPPS with impressive volumes include but are not limited to JustSwap, JustLend, Troncase, Tron Hunter, WINk, TronTrade, JUST, Bankroll Network, Poloni DEX, and Golden Eggs.
TRON Has Largest Circulation of Stablecoins
Stablecoins are cryptocurrencies that peg their market value to some external reference. Stablecoins are normally pegged to the price of a commodity such as gold or a currency like the United States dollar. More stablecoins circulating on TRON Network means more people are using Sun’s platform to carry on with their stablecoin transactions. The total market capitalization for stablecoins is $98 billion.
The largest stablecoin is Tether (USDT). USDT currently runs on OMG, Algorand, EOS.io, Ethereum, and Tron platforms. According to Justin Sun, the circulating amount of USDT on the TRON network has exceeded 30.9 billion. Long-term rival Ethereum came second with approximately 27 billion USDT issued.
Stablecoins helps users convert a substantial amount of their TRX to USDT when there is a bearish crypto sentiment. This stabilizes the earnings of the user. Once the bulls return, the user then converts their stablecoin to TRX using their earnings to buy more TRX and profit from a future price increase.