What is TRON (TRX)? Is it worth investing in? Coin price analysis today

Tron Network or TRX is a decentralized platform created in September 2017 that allows users to create digital content. and stores information through the Tron blockchain system by working with a Peer-to-Peer system that allows creators to trade directly with consumers without having to go through an intermediary. In the Tron Network, the Tronix (TRX) coin is used as a currency. A digital currency where users can pay for services or works with TRX coins, with the money being transferred directly into the account of the work owner. So that the owner of the work can exchange it for other assets.

Tron is now an online video viewing platform where users can view media that content creators have created on the system. Tron Network's uniqueness is that it is low-cost and non-centralized. Users can access and create all kinds of content and works on the system without any intermediaries. And viewers or buyers can make payment transactions directly with the creator without going through any intermediaries. In 2017, Tron coin (TRX) was first created by Sun Yuchen or Justin Sun on the Ethereum network.

How is TRON (TRX) worth investing in?

Before the TRON (TRX) ERC-20 standard token came out, it created its own main network (Mainnet) in 2018 and established an organization named the Tron Foundation, which has now disbanded. Set up Delegated Proof of Stake (DPoS) as a consensus algorithm running on Tron's network to support higher transaction volumes. Users can lock TRX coins on the network to vote for the selection of transaction moderators in each round.

Both voters and reviewers will receive TRX coins as a reward. The TRON Virtual Machine (TVM) was chosen as a software platform that was adapted from the Ethereum Virtual Machine (EVM) to make it easier for developers to bring Smart Contracts onto the Tron network. The Tron network also supports programming languages. Programming Language like Solidity as well.

Since TRON was originally a fork of Ethereum, it is EVM-compatible but does not follow Ethereum's PoW, instead using a custom consensus mechanism called TRON's Delegated Proof of Stake (TPoS). In TPoS, TRON users can stake TRX to vote. Super Representatives (SRs) are given every six hours. A total of 27 SRs are responsible for recording and verifying transactions on TRON, while SRs receive TRX tokens as a reward for their services. The total number of TRX coins in circulation is approximately 100 billion tokens. And the number of coins in circulation at the time of writing is approximately 92.35 billion tokens.

TRX is frequently burned in order to control the number of coins in circulation and ensure the interests of investors. In 2017, after a highly successful ICO, a total of 15.75 billion TRX was allocated to independent investors. An additional 40 billion TRX was reserved for investors participating in the ICO, with the TRON Foundation receiving 34 billion and companies owned by Justin Sun 10 billion, meaning 45% of TRX will be allocated to founders and investors. The project itself and another 55% will be allocated to investors.

TRON (TRX) coin price analysis

If we look at the Tron coin price trading chart during 4h, we can see that While the graph is in an uptrend, there is a downside breakout period, but then the price rebounds and appears to go sideways. When the price hits the support line, it will be a good time to enter the TRX uptrend. You can now buy 0.13620 or wait to enter when the price trend changes to an uptrend first. It is predicted that in the future the TRX coin will definitely go up to 1 dollar.

The TRON coin price is updated in real time in USD at the moment: $0.110915 (TRX/USD). The total market capitalization is 9.8 billion USD and the 24-hour trading value is registered at 1 billion USD. which has decreased widely to -9.64695% And with demand for 87.8 billion USD at the moment, the price movement of TRON coin is moving in a negative direction. There is a decrease in both the downside and the direction of the price downwards at this time.

There is a preliminary analysis of TRON (TRX) aimed at estimating the value of the asset. Both techniques are used to analyze and predict the future price of an asset. In the case of Tron coin, the most straightforward method of fundamental analysis is Look at changes in supply and demand. It can also consider the market capitalization (9.8B) and circulating supply (87.8B) to arrive at an appropriate future price. On the demand side You should look at additional information related to the number of new addresses in use. and the number of transactions

Should I invest in TRON coins?

The Tron ecosystem has attracted a great deal of interest from investors and traders around the world. And there are many reasons why this happens. One of them is the cost-effectiveness of TRX when purchased in Thai baht. The price for 1 TRX is only 3.34 baht compared to buying Ethereum in Thailand, creating a great investment opportunity. This is based on the growth potential of the highly volatile Tron network. and is not regulated or protected by the European Union.

Another aspect to consider when investing in TRX is transaction speed. Tron's blockchain system can process more than 2,000 transactions per second, while Ethereum is at 15 transactions per second. Therefore, TRX is the 20th most popular cryptocurrency and has a market outstanding of more than $9 billion. Therefore, there is Comments on the growing popularity and interest in TRX in Thailand and around the world from investors and traders Traders can choose to trade TRON coins through a number of platforms such as ArthBit, AscendEX, BIB, Bibox, and Tapbit, among others.

Things you need to know before investing in TRON

New traders interested in entering Crypto Investment but have no experience in this industry before You can join in investing as well. Because we have gathered all the information you need to know about Tron (TRX) coin for you. If you have learned the basics of this coin first You will be able to purchase Tron smoothly. Ready to definitely increase your confidence.

• Choose a safe and appropriate payment method: You should choose a payment method that is fast. low fees And having high safety is important. You should consider the convenience of your financial transactions.
• Opening a wallet account: This is also what traders need to do. You may want to open a wallet account before purchasing TRON for long-term coin storage. It's worth researching the types of wallets to make sure they're suitable for your needs.
• Price comparison: Traders should compare service fees between companies and required payment methods. This is to prevent unnecessary fees from incurring transactions. You should study and compare information. It can help you save money in the long run.
• Safety and Protection: You should understand and be aware of the risks involved in using the TRON platform and consider the security of your transactions. Choose a platform that is reliable and is confident that it will protect your information.
• Understanding and knowing the platform: New traders need to study and research the TRON platform before investing, so that you can better understand the transaction process and system. Trading functionality of each platform Because there may be other fees. that are not equal This will give you the confidence and ability to make the right decision when choosing to invest in TRON trading.

What factors affect the price of TRX coins?

Understanding the factors that affect the price of TRON coin is very important, as there are many factors that can influence the price movement. Therefore, a summary of the important factors are: market supply and demand or market demand for TRX that affects the price This increase or decrease in demand It will definitely affect the price change of TRON coin (TRX). Important events such as Protocol updates or hard forks are news that may also affect the price of TRON.

The sale or purchase of coin holders by many large TRON investors can also have a significant impact on the price. Institutional acceptance and low political regulation can affect the popularity and price of TRON. Traders need to remember that predicting the price of a cryptocurrency is difficult. It might not be easy. Because there are many factors involved. However, you should study and compare information carefully before investing in TRON or any other cryptocurrency that interests you.

Frequently asked questions

Q: What is a Tron coin?

A: TRON COIN is cryptocurrency. or digital coins used in the TRON network, which is one of the key areas in the blockchain world that aims to create a digital space for mandatory content and applications. The total amount is set to be 100 billion TRX.

Q: What are the fees for transactions on the TRON network?

A: Transactions on the TRON network have low fees. And sometimes there is no cost at all. This is according to the determination of the transaction provider and the area of use. But in general TRON transaction fees are lower than those of the network. Other cryptocurrencies are penalized for transferring funds or sending transfers and payments on the network.

Q: How many TRON (TRX) coins are in circulation?

A: TRON has a total supply of over 100 billion tokens. And at the time of writing, there are approximately 71.6 billion tokens in circulation. This is a number that is updated periodically. Following TRON market movements, the number of tokens in circulation can change based on distribution and activity in the TRON community.

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