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Today's winner:Should I invest in Tron (TRX) in 2021? Tron Price Prediction
Tron first appeared in 2017. The original founder Justin Sun, originally Ripple’s chief representation, had the idea to start a non-profit organization which would focus on building the infrastructure for a decentralized internet. When the Tron ICO launched, TRX flew off the charts. The initial coin offering price was $0.0019/TRX. Now TRX has reached a staggering $0.06/TRX!
Tron features a very unique protocol which helped it stand out from other blockchains. If you spent a lot of time investing in Ethereum, you know about the absurd gas prices. This is where Tron mixes stuff up a bit. The network uses a DPoS system where elected nodes approve the transaction blocks. This means instead of paying a hefty fee to miners, Tron users can stake their TRX in exchange for “Power”, allowing them to make transactions for free. After 72 hours, users can withdrawal their power back as TRX. In addition, staking TRX allows you to vote on super representatives and earn a APY.
Many professional traders have contrasting speculation on the future of Tron. In 2020, Tron has seen a lot of volatility making forecasting it’s future value quite challenging. Following its significant growth in Feb of 2021, Tron has a good chance of hitting $0.1 by late 2021. On the other hand, Tron has a chance of following a bearish trend. If this occurs, it wouldn’t be unlikely for Tron to drop back down to $0.04, or even $0.03.
Nonetheless, Tron has a made a great ecosystem for Altcoins. If some promising Dapps and Altcoins reach the Tron blockchain in 2021, TRX is bound to skyrocket. In the end, this is still all speculation. Nobody is certain where Tron will go, but it’s definitely a promising project. If you want to diversity your portfolio a bit, holding and staking some TRX on the Tron network may be a smart decision. After all, you still earn from staking!