Can Tron Coin reach $1, $5?
|Current Market Cap||$7.4 B||Lower|
|Trading Volume||$159.2 M||Higher|
|Metric||Last 24 Hours||Trend|
|Net Social Media Sentiment||40.5%||Lower|
Latest Tron News
- According to Coin 98 analytics, Tron has secured the top position in daily active users, with a count of 1.23 million users.
- Tron Weekly Update:
- Korea Blockchain Week 2023, sponsored by TRON, took place in Seoul, South Korea.
- Justin Sun, TRON’s founder, participated in KBW 2023. Justin Sun emphasized the significance of the South Korean market for TRON during the Korea Blockchain Week Afterparty.
- TRON hosted a virtual seminar on “Dapp Deployment on the TRON Blockchain”.
Tron – Buy or Sell, Crowd Poll
- July 4th: +21.7%
- Aug 8th+34.0%
- Aug 21st:+40.0%
- Sept 11th: +39.0%
Can Tron coin reach $1? What is Tron?
Tron is a blockchain-based operating system designed to provide full ownership to digital content creators, aiming to revolutionize the sharing and entertainment of digital content.
It utilizes a Delegated Proof of Stake (DPoS) consensus mechanism, where 27 Super Representatives (SRs), voted by token holders who freeze their accounts, are responsible for creating new blocks and validating transactions.
Distinguishing itself from other blockchain systems, Tron employs Google Protocol Buffers, which support multiple language extensions, facilitate program communications over networks, and assist in data storage. Tron’s decentralized virtual machine enables the execution of programs using an international network of public nodes.
Key features of the Tron network include zero transaction fees, the capacity to handle over 2000 transactions per second, and minimal fees for implementation
Also Read: Where can I stake my Tron?
Can Tron reach $1?
In order for Tron to reach $1, it would need to increase by a factor of 12.1. At $1, Tron’s Market Cap will be $89.86 billion. If Tron were to grow at a rate of 25% each year, it would take about 11.1 years to reach $1. Let us evaluate this data
- Quality of Investment- Good
- Growth required to reach $1- Feasible
- Market Cap at $1- Moderately Feasible
- Time required to reach $1 if Tron were to rise at 25% per annum- Feasible
Considering the criteria Quality of Investment, growth required, and time required, Tron has a good chance to reach $1.
Can Tron reach $5?
In order for Tron to reach $5, it would need to rise 60 times. At $5, Tron’s Market Cap will be $448 billion which is close to the market cap of Bitcoin ($506 Billion).
In the last 20 months (Since January 2022), Tron has outperformed Bitcoin by 40% points and Ethereum by about 56% points. Tron has been a star performer amongst the top cryptocurrencies since January 2022.
- Outperformed BNB by 58%
- XRP by 39%
- ADA by 80.6%
- Dogecoin by 62%
So while it is impossible to predict how a Cryptocurrency will perform in the future, if we assume Tron will grow at an average rate of 50% every year. It would take Tron 11 years to reach $5. It took BTC 7 years to rise from a $7B market cap to a $500B market cap, it took Ethereum 4 years. In that context, 11 years is not unreasonable. With an active burn program on Tron, this could be faster.
Caveat: It is impossible to predict how Tron will tackle future challenges. They have some management perception challenges as well. But as things stand today $5 is feasible but it is not a guarantee.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.