According to the information that arrives every day, the tron price could explode and be worth much more than now.
In recent years, sentiment towards cryptocurrencies has risen a lot, bringing new investors into this sector.
But the competition between the various projects has also increased, which is yes, the projects that have a very advanced development allow them to have high returns.
This is the case of Tron, which in the last year, based on the investments made, has been awarded a place among the best crypto projects in circulation.
The reasons for a possible explosion of Tron’s price are different, let’s see what they are in detail.
Information on tron
There is a lot of information in which the tron price could explode, but in my opinion some are very incisive and can make a difference.
But what are they, let’s see them together.
1) The purchase of 20 million dollars in tron by Tron Foudation
According to the information given by Tron Foudation, which is the body that controls in tron project, it would be buying from the market $ 20 million in Tron, which will be frozen and will serve in subsequent developments.
This news, would remove many Tron from the market reducing the inflation of the cryptocurrency, as it would reduce the circulation of the tron.
To date it is around 66 billion tron in circulation.
With the current price of around $ 0.035, the 20 million dollars in tron would remove about 520 million pieces.
But this figure will depend on many factors such as the price at the time of purchase or the market stakes, but roughly the pieces taken off the market will be those.
2) The launch of Bittorrent Speed
Bittorrent speed is a company purchased by Tron in 2018, which will bring about 100 million users to the tron ecosystem, an investment that should not be underestimated.
Justin Sun, the CEO of Tron, assessed this operation very much, which would allow him to create a decentralized internet of services.
In fact, Tron’s project is precisely to decentralize Intenet.
With the launch of Bittorrent speed, a file sharing service would be created, remunerated with the BTT token, speeding up and lowering the streaming costs on the visions of films, music, etc. compared to today.
3) Dinner with Warren Buffett
If you are thinking that a dinner would be silly news you would be wrong.
In fact this is not a dinner but it “is the Dinner”, with the legendary magician of the investments of the last century “Warrent Buffet”.
This dinner was won by the CEO of tron Justin Sun whose proceeds would go to charity.
Justin Sun would later invite many members of the crypto world to dinner, including the CEO of Binance Changpeng Zhao, the CEO of Ethereum Vitalik Buterin, the influencer Pompliano.
In addition he would have invited other members to participate in this dinner, which would be an opportunity to make this technology understood by one of the biggest investors in traditional finance.
Surely if in this market the capitals of traditional finance would enter, surely the tron price could explode but not only also the whole crypto sector.
4) Entry into the top 5 coins
From 1 July Tron entered the Top 5 of the best cryptocurrencies according to the official statement of Justin Sun and the company Coinmarketcap.
This news would bring Tron to the top of the best cryptocurrencies, which would increase security by investing in this project.
The Coinmarketcap ranking is used to understand the health of a cryptocurrency based on various factors such as adoption, trading volume, development, etc.
By raking each of the various crypts, you have a detailed overview, so you might be more aware of the projects you are going to invest.
This surely is not a Bible but it is a tool that could be used to better evaluate the various projects and understand which could be the most solid ones.
5) The increase in volumes and users on the network
Going to dappreview, we have different statistics of the various crypto related to dapp, like Ethereum, Eos, Steemit, and indeed Tron.
Looking at this figure, you have a perspective on what is happening on the various blockchains.
In fact the number of users and the volumes of exchange in the tron system is increasing reaching the level of Ethereum and Eos, considering that tron is a project born in 2017 unlike Ethereum.
These data make us understand that the tron ecosystem is increasing and having more and more use cases.
Obviously it is still early but surely something is moving.
could Tron's price explode?
Looking at all these data I have listed before, looking at cryptocurrency sentiment in recent times, you can draw conclusions yourself.
Obviously there is still a long way to go but these data are very interesting and they make us understand the state of the facts.
Take this information not as an investment advice but as a new point of view of the system.
Two years ago there was talk of a collapse of cryptocurrencies, today we are talking about banks, Warrent buffets and facebook Libra, all factors that increase the value of the market both in terms of price and thought.