Tron (TRX) to reach $1 by the end of the year?
Tron (TRX) MainNet is already live, it’s currently undergoing testing for various vulnerabilities only to make sure that it turns into a stable and safe platform before June 25 when the genesis block is supposed to be launched.
However, what’s still bothering the TRX holders and traders are whether there is any future of this coin. Will it reach $1 TRX value before the year ends? It was highly expected that the prices will surge after the main net launch but it was quite the opposite.
Tron (TRX) high supply
High supply and high circulating supply of the TRX is bothering the holders continuously. Currently, the total supply stands at around 100 Billion TRX along with a circulating supply at 65.748 Billion TRX. For Tron (TRX) to reach $1, the market capitalization will have to be $65.748 Billion, which is $5.5 Billion more than that of Ethereum right now.
To make that happen TRX will have to edge out other eight tokens and coins to move to number two spot. The only other way to achieve that target is if there is a corresponding increment of the total crypto-market capitalization up to levels of $832 Billion. In that case, Tron will have a chance to reach $1 TRX value, Global Coin Report. So, the solution lies in the above two possibilities where the TRX will have to rise like a phoenix in coming 6 to 7 months.
What about the proposed transactional coin-burn?
On Main Net, users are allowed to initiate up to 25 free transactions per day. A coin-burn of 0.1 TRX will be required for the creation of each account on a DApp platform. For the transfers, it will cost around 0.001 TRX. So, to burn 1 TRX either 10 new accounts on a DApp will be needed or 1,000 transfers will be needed. The coin-burn process will be able to reduce the Tron (TRX) circulation with time. And, reduction in supply means the TRX value will increase gradually.
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