TRX is the native cryptocurrency of TRON, a decentralized blockchain platform that aims to create a global entertainment system and a new internet infrastructure. TRON was founded in 2017 by Justin Sun, a former chief representative of Ripple in China and a protégé of Alibaba founder Jack Ma. TRON has attracted millions of users and developers with its high scalability, high availability, and low-cost transactions.
Origins
TRX was initially launched as an ERC-20 token on the Ethereum network, but in June 2018, it migrated to its own mainnet. The mainnet launch was accompanied by a token swap, where users exchanged their ERC-20 tokens for the new TRX coins at a 1:1 ratio. The total supply of TRX is capped at 100 billion, and the current circulating supply is about 91 billion.
TRON has also acquired several notable projects and platforms in the crypto space, such as BitTorrent, Steemit, Poloniex, and DLive. These acquisitions have expanded TRON’s user base and influence in the industry. TRON also has strategic partnerships with Samsung, Opera, Binance, Huobi, and other leading companies.
Price Journey
TRX reached its all-time high of $0.3004 on January 5, 2018, during the peak of the crypto bull market. However, it soon plummeted along with the rest of the market and entered a long bearish phase. TRX bottomed out at $0.0110 on March 13, 2020, amid the global pandemic crisis.
Since then, TRX has recovered significantly and has shown strong growth potential. TRX reached a new high of $0.0909 on April 16, 2021, thanks to the increasing adoption of TRON’s ecosystem and the rising popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs). As of April 3,2023 TRX is trading at $0.0657 with a market cap of $6 billion.
Current Price Analysis
The price has broken the descending channel resistance trendline in a 45-minute time frame. The price is currently rising. Here, an increasing trend is expected to keep going.
Future
TRON has a bold vision for the future of the decentralized web. It aims to challenge the dominance of centralized platforms like Google, Facebook, and Amazon by empowering users and content creators with full ownership and control over their data and assets. TRON also strives to foster innovation and collaboration among developers and entrepreneurs by providing them with a robust and flexible platform to build DApps.
Some of the key features and advantages of TRON are:
– High TPS: TRON can process up to 2,000 transactions per second (TPS), which is much faster than Bitcoin (7 TPS) and Ethereum (15 TPS).
– Low fees: TRON does not charge any transaction fees for TRX transfers, which makes it ideal for micropayments and mass adoption.
– High scalability: TRON can support many DApps and users without compromising performance or security.
– High availability: TRON uses a delegated proof-of-stake (DPoS) consensus mechanism, where users can stake their TRX to elect 27 super representatives who validate transactions and produce blocks. This ensures that the network is always online and democratic.
– Rich ecosystem: TRON hosts a variety of DApps across different categories, such as gaming, social media, DeFi, NFTs, gambling, etc. Some of the most popular DApps on TRON are BitTorrent, WINK, JUST, SUN.IO, TronLink, etc.
TRX is not only a cryptocurrency but also a utility token that powers the whole TRON ecosystem. Users can use TRX to interact with DApps, participate in governance voting, stake for rewards, pay for services, access premium content, etc.
TRX is one of the most promising cryptocurrencies in the market today. It has a strong team behind it, a loyal community around it, and a bright future ahead of it. If you are looking for a crypto that combines innovation, entertainment, and empowerment, you might want to consider adding TRX to your portfolio.
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