TRON Price Prediction and Analysis: 15% up in one day! Own blockchain upcoming. Monday, May 21
TRON aims to build a free, content entertainment network that will use localized distributed storage networks to reduce the cost of sharing digital content.
Bitcoin's influence on the market
Surprisingly, even though we can notice positive Bitcoin price movement in last two days, it is not as significant as other altcoins. The price went from $8000 to $8500 very quickly and may indicate a short bullish trend for all of the cryptocurrencies. Bitcoin will most likely try to break the $9000 mark in next days.
Important TRON News
Tron mainnet launch
Alongside with upcoming EOS mainnet launch, Tron is also looking forward to changing Ethereum ERC20 for their own blockchain. This is a great step for any token, as it shows the maturity of the project and brings many new features. The mainnet migration has been scheduled for 21st of June, however with any piece of news coming up the price may be heavily affected while investors and user anticipate the update.
Tron vs Ethereum
Justin Sun, who is the creator of Tron, gave a brave and promising announcements when it comes to their separation from Ethereum: 'From today to the last day, we are no longer the ERC20 token, and in the future, we will compete with Ethereum as a DApp platform.' He also added: 'We will compete face to face with Ethereum, and we have confidence we will build a large ecosystem; a much large ecosystem than the Ethereum. I will explain to you why we can surpass Ethereum in the future'
TRX Price Movement Analysis
Looking at the last 10 days of TRX price, one can notice how recent news positively affected the price. In past week, the TRX price was affected by Bitcoin and other general market movements, there are some notable price spikes, however it went rather smoothly upwards. On Monday May 21, Tron raised in value over 15% in 24 hours and jumped from $0.068 to above $0.084 mark and is on its way to $0.1 region, which it hasn't reached since January.
Tron Price Chart (TRX/USD), Monday May 21 (Last 10 days):
Looking at TRON prediction in short term, undoubtedly the launch of mainnet will affect the price significantly in a positive way. Own blockchain will set TRON's price on a new stable level, from which it will try to break new records. Reaching and exceeding previous all time highs of $0.3 shouldn't be that hard for TRON.
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