finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

Tron Prices: What Does 2022 Hold For The TRX Token?

The future price movement of TRX, the native currency of the Tron blockchain-based, decentralised, open-source operating system, is the subject of much discussion among observers.

Posted: 27th May 2022 by
Finance Monthly
Share this article

This is because TRX recently experienced an 8.5% surge after announcing a forthcoming listing on a major crypto exchange. This latest upswing, which occurred on May 5th, represents the highest level that TRX has seen since the end of December 2021. In addition, the Tron prices development in early May also came in tandem with the launch of the USDD decentralised algorithmic stablecoin. As it stands, users can now stake USDD-TRX pairs in liquidity pools on exchanges for high annual percentage yield rewards.

Since its establishment in March 2014 and subsequent caretaking by the TRON Foundation three years later, TRX has hit all-time highs several times. This is why the token’s price predictions for 2022 and beyond have taken on even more significant meaning for observers.

What Is Tron?

Tron has been under the supervision of the TRON Foundation since 2017, the same year that the Singaporean non-profit organisation was founded. Created by Chinese entrepreneur and former Ripple (XRP) chief representative in the Greater China region, Justin Sun, the Tron ecosystem launched with uniqueness as its primary aim.

Initially starting as an Ethereum-based ERC-20 token in 2017, Tron (TRX) switched to its own protocol a year later. The Tron blockchain launched in June 2018, later integrating with peer-to-peer file-sharing network BitTorrent the following month of that year. Under the auspices of the TRON Foundation, Tron seeks to create a global entertainment system for digital content at great prices.

Tron’s operational functions are two-fold. The first is that it aims to be a global online content sharing platform. Secondly, the digital platform allows developers to create autonomous applications capable of operating without intermediaries. 

Tron also functions via a three-tier architecture that includes storage, core, and application layers. The core layer houses several key modules, such as smart contracts and account management. All modules housed in the core layer directly provide Tron with a pathway for growth.

In December 2021, Tron became a fully decentralised protocol with a community-governed DAO. In an announcement that shed further light on its new-found status, the Tron development team said:

“TRON DAO is what distinguishes TRON from web2.0 tech companies as it fully demonstrates decentralisation, the essence of blockchain.”

Tron (TRX) Predicted Future Prices Movement

Tron’s native TRX coin is issued by the DAO and facilitates transactions and applications on the network. Before going global, Tron initially saw sparse visibility in a few Asian countries. However, data from August 2021 shows that the platform already custodies more than 50 million accounts.

As of May 9th, short-term technical analysis from CoinCodex showed an overwhelming bullish sentiment on the TRX coin. In fact, out of 29 technical analysis indicators reviewed, only one was bearish.  

Over the next few years, algorithm-based forecast website Wallet Investor indicated a gradual increase in TRX price. Analyses covering periods from 2022 to 2025 suggest that Tron prices would approximately double. Furthermore, Wallet Investor also predicted that TRX price could increase by an additional 35% in five years.

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram