There have been a great many coins released this year. Among them, only a few have made it to the top 10 in terms of market capitalization, one of them being TRON (TRX). In the crypto industry, TRX is fairly new having been launched in July of 2017, but it is already in the top 10 list with a market capitalization of just under $5 billion. At number 9, it is higher than NEO, IOTA, Dash, Monero and other popular altcoins. It is because of this reason that we believe a TRX price prediction and forecast for 2018 would be appropriate to consider.
More about TRX coin
Before you make an investment in anything, it is essential that you know more about the product itself; just as you would like to know more about a Forex broker before making the deposit. As for TRX, it has a very short history, yet it still has a lot going for it. Furthermore, there is a lot of information to be gleamed off the TRX whitepaper and their roadmap reveals a lot of good things, which probably explains the spectacular growth of the coin. (The: 5 tips to identify the perfect ICO to invest in)
TRX was first launched through an ICO to gain funding, just as several other successful coins like EOS did. This in itself was quite remarkable because many other ICOs failed in 2017. In fact, a report by Fortune has showed that more than half of ICO projects in 2017 had failed by the beginning of this year. Nevertheless, there have been some very successful ICOs too. The ICO for TRX was one of the more successful ones when it managed to raise $70 million, which they had intended to reach. The ICO had been held from 31st of August to the 2nd of September 2017. (How Coin Scams Operate And How To Avoid Them)
Behind the creation of TRX is a Singapore-based non-profit company called TRX Foundation. The CEO of the company is one Justin Sun who already has a lot of experience in crypto and app development when he created the Peiwo app that was very successful in China. Apart from Peiwo, Sun has also been listed in the 30 under 30 list in Asia by Forbes and is also known known as a protégé of Alibaba founder Jack Ma. He was also a former representative of Ripple China. On the coin’s whitepaper, the rest of TRX’s team members are said to be followers of Tim Berners-Lee who was the founder of the World Wide Web. However, it has been Sun and his constant social media presence, especially on Twitter, that has made TRX so successful. (Have you ever wondered: Which Are The Most Influential Coin Markets By Country?)
TRX is meant to be a distributed storage technology based on blockchain that is meant to decentralize the internet. To do so, the coin intends to allow for the sharing of content on the internet directly, bypassing middlemen like Apple, Facebook, Google, etc. The main token to be used on the TRX network is called TRXix and it has the ticker TRX. (Here are: The Top 5 Coins To Buy In 2018?)
What is so special about TRX coin?
For TRX to rise so high in such a short time, TRX has a very unique roadmap and technology. As already mentioned, it is meant to enable content sharing directly between creator and consumer. To enable this function, TRX will go through several stages from now until 2023. These stages are:
This is the current stage where TRX is still an ERC 20 token similar to Ethereum. So far, there still isn’t much functionality. (Do you know: What will happen to Ethereum in 2018?)
This will be the second stage in TRX development and it is expected to be launched on the 31st of May through to the 21st of June. When the stage is complete, MainNet will go live and TRX will be the main tokens used on the TRX network. Already, TRX have tested the Odyssey stage through TestNet that has been successful so far, therefore this stage seems very likely to be successful as well. Once this stage is through, content creators will be paid on a tipping scheme rather than how other companies do it through views or likes because these can be ‘bought’. In the Odyssey stage, consumers will directly pay the creators in the form of tips, thereby creating a transparent system.
Great voyage and Apollo
These are the third and fourth stages of the TRX roadmap, but there is no clear date on when these will be live. It is in these stages, though, that TRX will finally launch its own blockchain platform where content creators will be able to launch their own ICOs. In doing so, creators will have the ability to create their own brand on top of the TRX network. One potential difficulty will be in how the network would handle increased traffic without slowing down as several other coins experienced in mid-2017.
Star Trek and Eternity
In these final stages, the TRX network will expand beyond holding smart contracts to hosting decentralized games and apps. Creators will be able to make money based on how their particular communities are growing on the network.
The above stages of the TRX network development are exactly what make the coin so unique and attractive to investors. While these plans are ambitious, they also seem achievable since there have been reasonable timelines and goals across the 6 stages up until 2023. If all the stages are complete, the TRX would surely become a very successful coin in the coming years.
How has TRX been performing in the past year?
When TRX was first launched through an ICO, each token was available for $0.0019. By the beginning of 2018 on the 5th of January, it reached its all-time high value of $0.25 – over 12,000% in growth over the 6 months it had been in existence. This was a higher growth rate than any other coin in the market during that period, showing that TRX had a lot of support. Soon thereafter, TRX’s value declined along with other coins to a low of $0.023 by the 18th of March 2018. Despite the decline, TRX was still more than 1,000% more valuable than it was at first. Since then, though, TRX has recovered more than 3,000% of its value to be trading at $0.074 at the time of this writing. (Do you know: How easy is it to trade Coin in the Forex market?)
Possible TRX price predictions for 2018 and beyond
So far, TRX has recorded enormous growth from the time of its ICO less than a year ago. At the moment, it stands in 9th position according to CoinMarketCap. While this growth has been remarkable, the big question is in whether the coin will maintain the same growth rate. As we have noticed with other coins in the past, they tend to have a high growth rate initially before they taper off. We believe that the growth of TRX was mainly due to the wave of coin enthusiasm that occurred throughout 2017. Nevertheless, it has since recorded some of the highest growth rates compared to other coins in the top 20 list, indicating that there is a lot of community support for TRX. (Here are the: 10 Most Important Resources to a Coin Trader)
Perhaps the main reason for this recent surge in growth has been the speculation that TRX is about to partner with Alibaba. It is already well known that Justin Sun and Jack Ma are quite close, and that TRX is already in use within the Peiwo app – China’s Snapchat. This rumour began when Sun tweeted as much, and this may be very likely. Besides, the launch of Odyssey will also promote the partnership when it becomes completely autonomous. Already, TRX has sufficient support having being listed on Binance exchange, which is one of the top crypto exchanges in the world. It is also listed on 36 other major exchanges, and might be listed on more once Odyssey goes live. (Do you know these: 5 Tips to Choosing the Ideal Coin Exchange?)
While it is currently trading below $1, TRX definitely has a lot of potential in the coming years. One key driver is that the team is well experienced and they have learned from the mistakes of giants like Ethereum. Therefore, they are less likely to repeat these mistakes and will instead create a better platform. If all goes according to plan, the coin will definitely reach $1 by the end of 2018 and perhaps even go beyond this mark. A more conservative forecast, though, would be $0.5 by the end of 2018, which would be twice more than the coin’s previous all-time high. (What Is The Future Of Crypto In Global Finance?)