Tron is easily one of the sophisticated blockchains available currently for designing cryptocurrency-related projects and various other decentralized products. It is also placed among the reliable yet cheap protocols available to satiate this increasing demand for decentralized projects. Although meme-coins like Shiba Inu are quite equal to Tron as far as the general image is concerned, there are formative differences that make Tron superior to them.
While meme-coins are generally created to make use of the opportunities of the crypto market, projects like Tron tend to bring essential changes to the entire outlook of the industry. Tron is a dedicated blockchain to induce intuitive and innovative ideas that could potentially transform the way the blockchains currently work. The blockchain has also accommodated several decentralized applications, like SunSwap and Just Lend. The Tron Foundation has designed a digital roadmap that currently operates, intending to bring revolutionary changes like zero gas fee transactions and faster transactions with sustainable resources. Tron is expected to overtake Ethereum in terms of technical infrastructures in the coming years due to the scalability ratio and the enhanced smart contracts.
Nevertheless, the market has not been friendly to Tron ever since the beginning of the year, as the coin lost around 62% of its highest in 2021. The native token TRX has come down to the trading value of $0.068, according to the latest reports. The impact is felt in the market cap of the coin also as it fell to 7 billion dollars. The continuing fall has pushed this crypto protocol to the 28th position in the list of largest cryptocurrencies.
The net worth of founder Justin Sun remains substantial even amidst this steep market crash. Tron founder has closed a deal with BitTorrent to buy it for 180 million dollars. Although the platform has not been performing well recently, its market cap remains steady at 2 billion dollars. The substantial holdings from Tron, Bitcoin, and Ethereum have also helped his net worth to soar just over 400 million dollars.
So far, the coin has not been performing well in the market, and it has continued to do so for a few months now. The analysis of the coins price lately has only shown the signs of a bearish market. The price has also dipped below the 25-day and 50-day average levels of the price. So, the chances are that the coin would keep falling for another 30% from its current price, and support is likely to appear at$0.05. However, this thesis would be invalidated if the coin soars over $0.08. Despite the current negative signs, Tron could be an optimal option to enter long according to the price predictions of Tron. Learn why Tron matters in the future by clicking here.
