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Tron – Tron [TRX] Bulls Could Finally Be In Control Of The Market

Tron [TRX] slid to the 23rd position in the cryptocurrency leaderboard after an underwhelming performance this week. It amassed mere gains of 2.80% during the same time.

Tron’s multi-year high was cut short as it noted a volatile market for three-weeks straight that has hindered the bulls from carrying the coin further.

TRX was down by 2.98% over the last 24-hours which drove its price to $0.0599. At the time of writing, it registered a market cap of $4.3 billion and a 24-hour trading volume of $3.02 billion

Tron [TRX] Daily Chart:

Tron [TRX] gained significant traction this month owing to Bitcoin and Ethereum hitting all-time highs. After breaking to a multi-year high, the crypto-asset entered the consolidation phase. And any possible uptrend signs appear to have halted.

Despite this, the support points continued to defend the current level Moreover, there here have been hints of a squeeze in volatility. The Bollinger Bands, for instance, were converging depicting a reversal in the ongoing trend. Could this mean that the much-needed rise?

Buy Pressure Gains Prominence

The Parabolic SAR sided with the bulls. Its dotted markers were found to be hovering below the Tron [TRX] candles supporting the coin’s price movement from an extended downfall.

The green bars of Awesome Oscillator also resumed depicting a shift to bullish momentum. Furthermore, the buying pressure, once again, has set in as depicted by the RSI which was well above the 50-median line and was now heading towards the overbought zone.

Previously, the RSI had rebounded after hitting a local top. But gearing up for another run essentially signified that an uptrend could be in the offing.

Taking the above charts into consideration, if a breakout to the upside for TRX does transpire, it could potentially target its immediate resistance level of $0.064 and $0.08 respectively.

Besides, the $0.05-level presents opportunities to buy the crypto-asset. Other region of support was found to be at $0.035.

Tron – Tron [TRX] Bulls Could Finally Be In Control Of The Market

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Reef & TRON Work Together to Expand DeFi Space

TRON announced that it will enter into a strategic partnership with Reef, in order to create deeper liquidity options.

TRON announced that it will enter into a strategic partnership with Reef, in order to create deeper liquidity options for anyone who is interested in the DeFi space. While DeFi is growing in popularity, the back end of the system isn’t keeping up.

With this move, Reef users will be able to directly access TRON’s DeFi ecosystem via the Reef platform, which is the first cross-chain operating system that was built on Polkadot.

The simple fact is – while DeFi has exploded in popularity, the infrastructure to make the systems operate is lagging. Ethereum has become an expensive option for anyone who wants to enter the DeFi space, which is one of the issues that TRON and Reef are working to solve.

As a multi-source DeFi aggregation platform, Reef is well placed to take full advantage of TRON’s existing DeFi ecosystem. Reef combines both Centralized Crypto Exchanges (CEXs) and Decentralized Crypto Exchanges (DEXs), to offer its users the best options for trading tokens.

TRON & Reef To Make Transactions Fast and Inexpensive

The level of decentralization that DeFi offers is great from the standpoint of an accessible ecosystem, but from a trader’s perspective, it can be very challenging.

Reef creates a solution for anyone that needs to take a market-level view of the DeFi landscape and make informed decisions when they buy and sell assets.

Denko Mancheski, the CEO of Reef Finance, commented,
“This partnership with TRON is an extension of Reef’s efforts to collaborate with the biggest players of the DeFi world. With the aim of providing curated yield opportunities on leading DeFi platforms all under one roof and establish the platform as the easiest way to get into DeFi…Reef’s users will now be able to seamlessly participate in utilizing the TRON Network and utilize TRON’s rapidly growing DeFi platform, helping usher in mainstream DeFi adoption”

Platforms like Reef will be a vital part of connecting the DeFi ecosystem with exchanges that may offer better liquidity, and also with large investors who act as stand-alone liquidity centers.

Next Generation Liquidity

The ideas behind blockchain are sound, but as platforms like Ethereum have gained a tremendous user base, the flaws in PoW systems have manifested in super high transaction prices. Clearly, this isn’t going to be sustainable, and both Reef and TRON know that better options need to come into the marketplace.

Justin Sun, the founder of TRON, told media,
“We are excited to expand TRON’s DeFi potential by partnering with Reef Finance to bring its smart liquidity aggregator and AI-driven recommendations to the TRON DeFi ecosystem…I truly believe that DeFi is the answer to the flaws in the current financial systems we rely on and this partnership brings us one step closer to lowering the barrier to mass adoption”

Reef not only connects its users to CEX and DEX liquidity, but it also uses a smart AI to help investors get the most from their capital. With these tools, the best deals are found, and capital flows to where it will create the greatest returns.

TRON’s blockchain is far less likely to experience a rise in prices, as it is based on a Delegated Proof-of-Stake (PoS) system. As Ethereum works to upgrade its platform to a Proof-of-Stake (PoS) system, the door is being left open for other platforms to enter the DeFi marketplace, and solve issues like sky-high transaction prices.

Reef and TRON certainly have the ability to innovate how DeFi operates, and also to give investors of every size a way to access an emerging asset class that may be the next frontier in global liquidity.

Tron - TRX - Price Prediction: TRX prepares for a 30% jump, eying up $0.07

Tron Price Prediction: TRX prepares for a 30% jump, eying up $0.07

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Tron price has found a strong support trendline on the 4-hour chart.
The digital asset faces only one significant barrier before a potential 30% breakout.
TRX must not lose the key support level at $0.052 to avoid a significant drop.

Tron price hit a new 2021-high at $0.061 on February 13 and had a major 25% correction down to $0.045. Since then, the digital asset has established a robust support trendline and aims for a breakout above a crucial resistance point.

Tron price is on the verge of a 30% move

On the 4-hour chart, TRX bulls have established a strong support trendline formed since February 10. The critical resistance level is $0.0537, which is the 78.6% Fibonacci level of the $0.027 to $0.061 rally.

Tron price has been rejected several times from this crucial resistance point. A breakout above $0.0537 will quickly push Tron price to at least the last high of $0.061 and potentially as high as $0.07, which is the 127.2% Fibonacci level.

On the other hand, if the bulls can't hold the key support trendline, Tron price can quickly dive towards the 61.8% Fibonacci level at $0.047 and the 50% level at $0.0437. TRX could drop as low as $0.039 at the 38.2% Fib level.

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Cripto TRON (TRX) en el 2021

Cripto TRON en el 2021

La cripto TRON pertenece a la lista de las monedas digitales más populares del momento. aunque el objetivo apunta dos lados de la moneda, por un lado las personas qué creen qué este proyecto brindara resultados favorables, y por el otro, los expertos que aseguran que esta moneda podría caer en cualquier momento.

Un crecimiento lento

No podemos negar que la cripto TRON ha tenido un crime ciento lento, desde su nacimiento en 2017, pero es imposible ignorar su participación en la lista de las mejores criptomonedas del mercado, incluso ha ocupado el puesto número 10.

Tron fue creada por Justin Sun, el CEO de una empresa sin fines de lucro con sede en Singapur, conocida cómo Tron Foundation. Creció siendo el token ERC20 y pertenece a la red Ethereum, pero tiempo después, en 2018, logró crear su propia blockchain.

La cripto TRON, nace con el objetivo de optimizar la relación entre los creadores de contenido y los consumidores. Esta moneda digital trabaja mediante Delegated Proof-of-Stake, el cual es un algoritmo derivado de Proof of Stake que brinda la posibilidad de generar ingresos pasivos.

TRON en el mercado

A mediados del año 2017, la cripto tenía un valor de 0.002 USD, los siguientes dos años no fueron nada alentadores para la moneda digital, pero la llegada del 2020, trajo consigo grandes oportunidades para la industria, beneficios que TRON recibió, ya que incrementó más de un 80%. Hoy en 2021, tiene un precio de 0.05 UDS; y se espera que este incremento en los próximos días.

Los proyectos de la empresa y la cripto TRON, son muy ambiciosos; el intentar devolver el poder a los creadores de contenido puede abrir muchas puertas, si lo usuarios deciden comercializar con TRON, pero no podemos cantar victoria, ya que será necesario ver “al menos” algunas colaboraciones culminadas para que los usuarios confíen en la cripto.

De igual manera, el proyecto en su totalidad se encuentra en una fase inicial, así que todo podría sorprendernos. Esta criptomoneda podría convertirse en tu opción ideal para incrementar tus ingresos durante el 2021.

Tron’s TRX – Daily Analysis – February 15th, 2021

Tron’s TRX

Tron’s TRX slid by 8.28% on Sunday. Reversing an 8.94% rally from Saturday, Tron’s TRX ended the week up by 53.47% to $0.05548.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.06100 before hitting reverse.

Falling short of the first major resistance level at $0.06428, Tron’s TRX slid to a mid-afternoon intraday low $0.05200.

The reversal saw Tron’s TRX fall through the first major support level at $0.05395 before briefly revisiting $0.057 levels.

A bearish end to the day, however, saw Tron’s TRX fall back to $0.055 levels to end the day in the deep red.

At the time of writing, Tron’s TRX was down by 8.10% to $0.05098. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.05690 before falling to a low $0.04955.

Tron’s TRX fell through the first major support level at $0.050132 early on.

TRON TRX - Justin Sun - NEWS

TRON Proposal 51 Set To Make TRX Deflationary Asset

The new proposal would increase bandwidth & energy fees by 3,5x in order to encourage higher TRX freezing rate, reduce TRX in circulation & promote TRX's value increase through a deflationary model.

TRON (TRX) has experienced a weekly value rise of 47%, and a new proposal aimed at making TRX a deflationary asset is currently being voted on by TRON’s Super Representatives (SRs), further increasing the potential growth of TRX and TRX-based tokens.

Proposal 51 and its goals are simple and could be very impactful for the network:

Increase the current near-minimal fees for bandwidth and energy by 3,5 times in order to encourage higher freezing rate of TRX, diminish low-value transactions (spam txs), increase security, reduce TRX in circulation, and promote the increase of TRX’s value by eventually making TRX a deflationary asset.

Proposal 51 was fielded by Klever’s own Head of Blockchain Research and Development, Fernando Sobreira, under the TRON SR Crypto Chain.

The proposal suggests the following changes to the TRON protocol:

Modify the unit price of bandwidth, increase from the current 40sun to 140sun
Modify the unit price of energy, increase from the current 40sun to 140sun
Modify the configurable upper limit of fee limit, increase from the current 1000000000sun (1000 TRX) to 5000000000sun (5000 TRX)

To explain bandwidth and energy in simple words, TRON bandwidth allows users to perform transactions on the blockchain without paying extra gas fees, while energy is a special resource used to process smart contracts on the TRON network.

Proposal 51 is a result of discussions initiated during the last SR meeting where TRON’s representatives presented network statistics following the last energy price increases, which showed that the last upgrade did not reduce valuable transaction volume but it did increase the amount of frozen TRX in the network.

Following the last TRON Upgrade implemented through Proposal 48, the unit price of energy and bandwidth was increased from 10 sun to 40 sun on November 25, 2020. Since then, TRX’s daily supply output has been greatly reduced due to more burning from resource fees. The number of low-value transactions has also been significantly reduced. Security has been improved with the increase of the freezing rate. Meanwhile, the transaction volume has continued to rise, the increase in resource fees has a positive effect on the network.

However, although the situation of spam transactions has improved, such low-value transactions still exist, and Proposal 51 is aimed at removing their rate and mitigating the impact of such spam transactions. The other primary goal is to have players freeze more TRX in order to pay less transaction fees.

Potential risks involved in Proposal 51 would be higher costs for developers, users, and other players such as exchanges to use TRX and TRX-based assets, but this can of course be mitigated by freezing more TRX.

Moreover, the TRON network may be experiencing increased transaction fees similar to other popular smart contract blockchain chains such as Binance Smart Chain (BSC), although TRON blockchain still remains the faster in terms of speed and delivery.

It is important to note that TRON has grown exponentially over the past year to house the most active addresses of any blockchain, besides Bitcoin.

For instance, today on February 10, Bitcoin had 1.17 million active addresses, TRON 634k and Ethereum 604k. Comparing transaction count between these three dominant networks shows Bitcoin at 330k daily txs, TRON 3.18 million txs, and Ethereum 1.23 million txs. It is becoming clear that TRON’s speed for transaction delivery and relatively low transaction fees compared to other blockchains has facilitated this rise.

Moreover, USDTt (USDT-TRON) currently holds $10.5 billion USDT in assets running on the TRON network, which is roughly 1/3 of USDT-Tether’s total market cap of $30 billion.

The rest is primarily running on top of Ethereum with $19.1B, while the previously dominant BTC-based Omni has fallen to only hold $1.3B USDT. Once again, this clearly shows that low fees and fast transactions are what users and exchanges are seeking, as well as choosing.

Source: https://wallet.tether.to/transparency

To conclude, if the vote for Proposal 51 is passed, it will further increase the network freezing rate and total frozen amount, reduce TRX in circulation, promote the increase of TRX value, restrain the number of low-value transactions and reduce their harm, and improve the security and reliability of the TRON network.

Klever fully supports Proposal 51 as part of our goal for the whole blockchain ecosystem to grow together, increasing security, removing spam transactions, and valuing cooperation between validators and other players in the crypto industry.

Sincerely,

Misha Lederman

Director of Communications at Klever.io

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