TRON Price Analysis: Will the token get to $1, and should you buy TRX in September 2021?

TRON shopping.io

TRON TRX/USD was created by Justin Sun in 2017.  TRON is a blockchain-based decentralized digital platform that has its own native cryptocurrency token called Tronix (TRX). It has seen a lot of development as of recently, and the founder has teased big news for the future.

The growth of the ecosystem to bring the value higher

Back in August, Justin Sun bought Tpunk 3442 for $10.5 million in TRX.

On September 3, BitTorrent and TRON unveiled their BitTorrent Chain (BTTC) project. 

On September 12, Justin Sun teased the TRON community by saying that there is big news around TRX next week.

On September 13, Gate.io joined the TRON ecosystem. According to an official Tweet, the first NFT on-chain display of the “KAWS” work “Untitled (KIMPSONS) will jointly launch on Gate.io on September 15.

On the same day, the circulation amount of USDC on the TRON network exceeded 200 million, which is a huge milestone for the network.

Additionally, through USDC on TRON, developers can build this ecosystem and access the CirclePay full suite of payments and treasury infrastructure built around USDC.

All of this has the potential to grow the interest of TRON and, as such, increase the value of the TRX token.

Should you buy Tron (TRX)?

On September 13, Tron (TRX) had a value of $0.105.

In order to get an indication of what kind of value point this is, and if the token has the potential to climb to $1, we will be analyzing its performance in August as well as its all-time high value and use that as a point of comparison.

When it comes to the all-time high value, on January 5, 2018, TRON had its all-time high value of $0.231.

This makes the value it had on September 13 $0.126 or 120% lower than its all-time high value.

When it comes to its performance in August, its lowest point was on August 2, where it had a value of $0.063. On the other end of the spectrum, its highest value point was on August 16, where the value climbed to $0.095. 

Here, we can see that the token grew in value by $0.032 or by 50%.

TRON has a 24-hour trading volume of $3,948,547,944, which has increased by 21.20% in the last 24 hours.

With all of this in mind, we can expect the token to realistically increase its value to $0.141 by the end of September with all of the current updates in mind and the current growth rate of the ecosystem.

However, Justin Sun did tease huge news in the following news, and the hype surrounding that news has the potential to push the token over $0.200. 

This is a long shot from the $1 value point. However, that could occur in 2022 or beyond. In any case, at $0.105, before the big news next week, buying TRX is a worthwhile purchase decision.

The post TRON Price Analysis: Will the token get to $1, and should you buy TRX in September 2021? appeared first on Invezz.

Publication date: 
09/13/2021 - 18:04
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.