Instead, the future of TRON would now lie mostly in the hands of its users and investors. This did not mean that the TRX coin would go away, though. TRON was back in the news in December 2021 when Sun was appointed a representative to the World Trade Organisation for the Caribbean island nation of Grenada. The network had some notable business successes, taking over the file-sharing network BitTorrent and signing a deal to integrate TRON’s blockchain with the Samsung Blockchain Keystore in 2019. The TRON cryptocurrency can also be used as a store of value, and can be bought, sold or exchanged. Like other projects such as Ethereum, which pioneered the use of smart contracts, TRON minted a coin to enable its users to trade and pay hosting fees for their content. TRON works in a similar way to Ethereum, in that the blockchain network hosts dApps (decentralised applications), so creators can choose to avoid working with tech giants such as Amazon and Google. Investors were attracted to a concept that aimed to build a free, global, digital content entertainment system with distributed storage technology using a decentralised blockchain network. TRON was founded by Justin Sun in 2017, raising $70m in an initial coin offering (ICO), which led to the TRON Foundation, a not-for-profit company that aimed to help manage and raise awareness of the crypto and its blockchain. As of 21 July, the token is currently trading at $0.06738.īut how might TRX respond to these events in the coming weeks? We ask: What is TRON (TRX)? What is TRON used for? And what is the TRON price prediction? Let’s see if we can find out. The Tron ecosystem responded well to the protective measures and has seen a bullish pattern for the past few weeks. Further to this, the DAO added $500m in USDC to its reserve to bolster the algorithmic stablecoin’s dollar parity.Īs a result of these efforts, the stablecoin maintained its dollar peg. In order to “safeguard the overall blockchain industry and crypto market” and defend the USDD peg, on 15 June the DAO Reserve announced the withdrawal of 2.5 billion TRX from the Binance exchange, with the intention of increasing fees for short-sellers. As market selloffs deepened, TRX (one of the predominant assets backing USDD as collateral) plummeted by almost 20% between 12 June and 13 June, in what commentators are calling the ‘Blackest Monday’ in crypto history – and the sister token USDD lost its dollar peg. TRON has in no way been immune to the recent flash crashes which have seen the total market value slump under $1 trillion. As the 16th-largest crypto by market cap, TRON’s next steps will have a huge influence on investor confidence in the crypto markets in the coming weeks, and avoiding anything like the Terra Luna fiasco will be a priority for their ecosystem. TRON has been garnering attention again over the past month.

Trx price prediction