The crypto market is going south. Many cryptos either bounced back to the May positions or are still breaking one low after another. At the same time, Tron seems to have groped for the bottom of this cycle, and the moment it goes up is just a matter of time.
Is it true or is it still too early to convert USDT to TRX? Let’s figure it out!
How Stablecoins Used to Protect Investment
During the bull market, when every asset in the portfolio is about to break another ATH, it is recommended to be “all-in.” In other words, the presence of stablecoins on your deposit is a bad sign since you can miss out on extra profit.
These days, when the market is either declining or at least going sideways, USDT can help you ride out the storm.
Moreover, switching all the volatile coins to stablecoins will not only save your portfolio from depletion but also help you avoid large fiat fees and ensure a high speed of transactions.
Is It a Good Time to Reinvest Your Capital?
However, the sharp decline is almost over for all coins. Rare squeezes don’t really influence the market, and many expert investors are gradually starting to gain position in BTC and some altcoins.
For example, rebalancing those coins that are unlikely to break their ATHs is a widespread practice. Major holders are now converting DOGE to BTC since the former is trading much higher compared to the previous accumulating cycle — what can’t be said about Bitcoin.
But what about TRX? Is it the bottom of the actual trend? Will we see another low? Or the price range of $0.05-$0.065 is the best buying opportunity?
Tron — Profitable Investment?
Tron is one of the most ambitious and controversial projects going back to 2017. The startup has far-reaching plans to conquer the entertainment industry and a lot of critics; however, it is already 14th in the cryptocurrency rating by capitalization.
Tron is created as a distributed network for the free exchange of content between users, as well as the development and launch of entertainment applications.
Its roadmap promises the integration of the next few things:
- Star Trek — platform integration for online games. Developers will be able to launch online games and even their own platforms for them within the Tron ecosystem. The stage will last until 2025;
- Eternity — the creation of a fundraising platform that will allow developers to raise funding for their projects directly from users. This is the final push for the Tron team and is expected to complete in September 2027.
Given such a promising plan, should we invest in it?
TRX Price History and Forecast
2022 isn’t the best year for TRX. After reaching an all-time high of $0.30 in 2018, and approaching this mark in 2021 ($0.18), the coin fell up to $0.04 in May 2022. However, this month also featured another growth of 60%.
Based on historical data, the WalletInvestor service expects the coin to average $0.0945 in 2022 and $0.11 in 2023. By 2025, the average TRX rate will rise to $0.15, and by 2030 — to $0.33.
The entertainment market is worth $1 trillion, and the project under consideration could theoretically bite off a big piece of this pie. Therefore, DigitalCoinPrice predicts the price of TRX to be $0.10 in 2022, $0.13 in 2023, and $0.40 in 2030.
Buy TRX or Hold on to USDT?
While the entry point for this coin isn’t clear yet, we can still expect almost 2X from the current price in 2023. Thus, in case you want to have this asset in your portfolio, today’s rate is the right time to start accumulating it.
