TRON New Tech Development May Trigger $0.2 Soon, Is It Time To Buy?
2022.05.09 15:16
TRON New Tech Development May Trigger $0.2 Soon, Is It Time To Buy?
- TRON recorded a huge growth rate of nearly +30% in the past 30 days.
- The network launched its stablecoin — Decentralized USD (USDD).
- TORN may reach $0.2 before the year ends.
Decentralized blockchain network TRON keeps its fire burning as it continues to surge its price despite the bearish market. Interestingly, TRON recorded a huge growth rate of nearly +30% in the past 30 days. This aggressive growth of the crypto enables it to have a trading price of over $0.08 per crypto. Currently, TRON is one of the top 20 digital assets in CoinGecko with a huge market cap of more than $8 billion.
Source: CoinGecko
On May 5, the network launched its TRON-issued algorithmic stablecoin — Decentralized USD (USDD). Furthermore, TRON stated that the USDD project of the platform will be backed by a $600 million funding that will be used to develop the mainnet of the stablecoin. As of now, USDD is supported by SunSwap, Uniswap, PancakeSwap and Ellipsis to name a few.
These achievements mentioned above are just some of the developments that contributed to the surging price of TRON in the past weeks. If this continues, there is a tendency that the price of TRON will breakout and boost to almost +200%.
Source: TradingView
As seen in the chart above, TRON has made a successful price boost from January to May. This price surge created a huge growth rate of +80%, uplifting the token’s value from $0.05 to $0.08. If this trend keeps on, there is a possibility that the crypto price may reach almost $0.2 before the end of the year.
Source: TradingView
Meanwhile, the crypto’s Relative Strength Index (RSI) points at 61.33. This means that the crypto is neither overbought nor oversold. This way, traders and investors can still trade with confidence without the fear of any major price reversals. But of course, this price analysis of the crypto still depends on the behavior of the crypto market. Hence, it is still recommended to do research prior to investing in crypto assets to avoid losses that cannot be reverted.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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