Crypto News

Tron Price Prediction – Despite the crash, TRX is still up! What’s next?

The recent crypto crash was a harsh one for the entire crypto market. Many crypto projects failed because of the falling crypto prices such as the Terra Foundation. Stablecoins are also being put to the test as more and more investors seek to liquidate their crypto positions. However, Tron’s story is quite different. They recently announced the launch of their algorithmic stablecoin USDD. Prices of this stablecoin are so far “stable”, while TRX is looking bullish. What’s going to happen to TRX prices? Let’s find out in this Tron price prediction article.

What is Tron Foundation?

Tron is a blockchain that aims to improve transaction speed. Tron promises to be able to process 2,000 transactions per second, compared to 6 and 25 transactions per second (TPS) for Bitcoin and Ethereum, respectively. It’s a decentralized platform for knowledge exchange and entertainment. In 2018, Tron bought BitTorrent, a prominent file-sharing service.

Join the Chat Discord

Tron’s goals include building an all-in-one file-sharing platform with monetary incentives and allowing content producers (especially in the game industry) to monetize their work. They’re also one of the most popular blockchains for decentralized app hosting (DApps).

Tron price prediction

When other Stablecoins CRASHED, Tron announces USDD

Recently, Tron launched USDD. Like Terra’s UST, it’s an algorithmic stablecoin. Tron believes they can combine price stability with fiat currency and cryptocurrencies like Bitcoin. To keep the price stable, a basket of currencies and cryptocurrencies is created. In the bitcoin world, volatility was a hot subject. One of the main reasons why investors are afraid to invest in cryptos is because of this. With the debut of its USDD stablecoin, Tron intends to alter that. They would maintain a “one stablecoin to one fiat” peg via a proprietary algorithm that alters stablecoin supply based on demand.

Tron Price Prediction – Will Tron reach 10 cents?

As the market dips, Tron prices barely crashed reaching a low of $0.065. Today, prices recovered back and are up to around $0.080 currently. Looking at figure 1, we can see how prices are on an uptrend and easily eyeing the $0.10 price mark. Once this area is reached, reaching $0.15 shouldn’t be hard, especially if the crypto market manages to recover.

Tron price prediction: TRX/USD 1-week chart showing the uptrend of TRX
Fig.1 TRX/USD 1-week chart showing the uptrend of TRX – TradingView

Adding a stop-loss area right below the uptrend line is always a good idea in case of prices crash for any particular reason. Also, fakeouts are very frequent and can occur, so it is advisable not to place tight stop-loss areas.

More from Crypto

Source link