To understand why a cryptocurrency has any value at all, we must first check out its functions and offerings. This is why we’re discussing how does tron work in this section. In the beginning, tron was an ERC-20 token following the Ethereum blockchain, but within a year, the founding team decided to shift gears and move to the Tron network. It uses the same model for transactions as Bitcoin.
While it had an impact on tron value, it was a necessary step for the advancement of the Tron network. To better understand its functionality, you can think of tron as software supporting smart contracts, blockchain systems, and even dApps. In its revamped version, tron offers the perfect tools for digital content creation while also giving creators full ownership rights.
The ultimate goal of Tron is to build a decentralised internet and thus be a better alternative to Ethereum. Using the tron network, one can easily and securely create digital content. But that’s not all; they can openly share it as well. As a delegated Proof-of-Stake system, tron has a competitive advantage over others and is quite energy-efficient. TRX is its native token, with a total supply of 100 billion tokens.
The beginning of the TRX price can be traced back to 2017 when the team launched a full-fledged token sale of the coins. At that time, TRX meaning was not clear to every market participant. This meant that the majority of the tokens went to private investors during the sale.
During its initial phase, the TRX value went from $0.002 to $0.30. The first increase in prices came in 2018 when it went through a solid 2150% uptrend. Since then, TRX has gone through several ups and downs to reach its current value.
The reason why TRX reached its all-time high figure in 2018 was due to its launch as a content-oriented platform. Back then, TRX was quite a rare decentralised project where P2P principles were applied.
As one of the best-performing altcoins, investors and traders keep themselves up to date with changes in tron prices. Not only is TRX listed on some of the largest cryptocurrency exchanges, but it is also available for crypto swaps. All you have to do is check the tron price today before you proceed to buy or sell TRX from any exchange portal.
The reason you need to know the current prices for TRX is to gauge the risks and gains you stand to make. As of now, there are currently 90.3 billion TRX in circulation, and in the past 24 hours, TRX tokens worth $236.1 million have exchanged hands. This proves that TRX trading is going smoothly at the time of writing.
While we can find the immediate price of tron from crypto data sites easily. But we cannot seem to figure out the main reason driving that particular price. tron price live is difficult to analyze unless you have knowledge of market research. But we are here to help.
If the current tron price shows a red zone, then it might not be a great time to sell because TRX might reach lower levels. But when TRX is trading in the green zone and testing the waters to reach higher, then that would be the perfect time to buy some TRX from reliable exchanges. After buying TRX from a platform of your choice, it is time to store it safely in any compatible crypto wallet.
It’s important to keep an eye on the market situation before you buy or choose to sell tron.