Launched in 2017 by Justin Sun, TRON is building the infrastructure for a truly decentralized internet, and its high throughput and scalability make it a popular blockchain for building decentralized apps (dapps). The TRX token connects the entire TRON ecosystem and has a number of applications including obtaining voting rights and bandwidth.
TRON (TRX) is a much more recent invention than Bitcoin (BTC), but its price has nevertheless had an interesting history. If you want to know more about its movements, you’re in the right place. We’ve compiled everything you need to know in order to better understand past TRX price action – and the factors that influence it.
Tron Price History
TRX was initially an ERC-20 token running on the Ethereum (ETH) blockchain (it migrated to the TRON network in 2018) when it launched through an initial coin offering (ICO) in September 2017, entering the market at around $0.002. There wasn’t much change for the first three months, during which TRX mostly traded between $0.001 and $0.003.
December 2017 brought the first significant price movement for TRX, and by the end of the year, it had climbed to $0.04 with its market cap surpassing $1 billion USD for the first time. Then things really took off and TRX shot up by over 400% in less than a week to hit its all-time high of $0.21 on 5 January 2018. This brought the market cap of TRX to its highest recorded value of almost $14 billion.
This was followed by a similarly sudden crash and, in about a week and a half, TRX had shed almost 3/4 of its value – dipping back below $0.06 again. Price was somewhat volatile for the next three months and then another upsurge occurred at the end of April 2018 when TRX doubled in less than a fortnight. This time, however, it couldn’t find the momentum to breach $0.10.
This price level wasn’t sustained, and over the next three and a half months TRX gradually fell back to $0.02. Price movements over the next two years weren’t as dramatic as previous ones. TRX reached about $0.04 in June 2019 but didn’t stay there long, and by 12 March 2020, TRX had bottomed out at just under $0.01 after falling 45% in a single day.
This ended up marking the start of a period of growth which was mostly steady for the next five months. At the end of August and beginning of September 2020, TRX rapidly doubled in price, but then crashed back down just as quickly. TRX remained fairly volatile for the rest of the year without making any significant gains. At the start of 2021, though, TRX’s price began to climb again and broke above $0.06 for the first time in almost three years.
Analyzing Tron Price History
TRON (TRX), like many cryptocurrencies, tends to follow a boom-and-bust cycle. “Boom-and-bust” describes a pattern in which growing excitement leads to a sudden surge in price, before doubt and disillusionment set in – causing an equally sudden crash.
The overall price chart for TRX is a familiar sight – a huge spike at the end of 2017/start of 2018 and not a lot of movement either side in comparison. This is because it follows the pattern of many other cryptocurrencies which surged in price thanks to the hype of the 2017 Bitcoin bull run.
Shortly after the Tron (TRX) ICO, China outlawed its digital tokens, which likely hindered TRON’s growth and may be a reason that TRX failed to make any gains before the end of 2017. As for price movement after TRX’s meteoric rise to its all-time high (ATH), the crash which followed was only to be expected as such a steep increase is very difficult to sustain.
In February 2019, the TRON blockchain hosted a token sale for Bittorrent, the largest peer-to-peer file-sharing network, which had been acquired by the TRON Foundation the previous year. This new activity in the TRON blockchain ecosystem could have been a catalyst for the growth that TRX experienced only a couple of months later.
TRX value was quickly slashed in half after that, which may have been influenced by the recent revelation from cybersecurity testing service HackerOne that a single computer could potentially be used to send a barrage of requests that would bring TRON’s entire blockchain to a halt.
The sudden drop on 12 March 2020 came as economies and borders were shutting down around the world in response to the COVID-19 pandemic and was part of an effect felt by the entire crypto and stock markets, which experienced the worst single-day crash since 1987.
TRX’s activity since then has been pretty much in line with the rest of the crypto market, with many other cryptocurrencies also experiencing a drop at the start of September 2020 and then recording gains at the start of 2021 on the heels of Bitcoin’s 2020/21 bull run.
Factors Influencing The Price of Tron (TRX)
A variety of things can influence the price of TRON (TRX), such as project news and updates, sentiment, and movements in the wider crypto and global economies, as we have seen.
Unlike Bitcoin and some other cryptocurrencies, TRX does not have a capped max supply. Instead, the addition or removal of TRX from the supply in circulation is governed by monetary mechanisms similar to those used by central banks.
TRX has a number of different use cases, including paying the fees and commissions for running its native smart contracts, paying for goods and services, and purchasing other tokens issued on the TRON blockchain. These applications could drive demand for TRX, which in turn affects its price.
Similar to staking, TRX holders can ‘freeze’ their coins, effectively removing them from the circulating supply, in order to obtain bandwidth and voting power for super representatives. These super representatives can propose and vote on modifications to the TRON protocol parameters, such as transaction fees and the number of rewards for producing blocks – which could affect TRON adoption and therefore TRX price.
Live Tron Value and Market Cap
The live price of TRON (TRX) varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux.
Given TRX’s volatility, its live price can change by a large amount in a very short space of time. The market cap of TRX is equal to the current market price of TRX multiplied by the number of TRX in circulation.
The current price of Tron is EUR. It has changed by EUR in the last 24 hours and TRX has a 24-hour trading volume of EUR. Tron current Kriptomat ranking is , with a market cap of EUR. It has a circulating supply of . Max supply is TRX.
Tron Price FAQ
What was TRX’s lowest price?
The value of TRX reached a low of $0.001479 on 15 September 2017, shortly after the ICO.
What was TRX’s highest price?
TRX has so far reached an all-time high of $0.21 on 5 January 2018, propelled by the 2017/18 bull run.
How is the price of TRX calculated?
TRX’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying TRX than selling it, the price goes up, and when more are selling than buying, the price goes down.
Why is the price of TRX different on different cryptocurrency exchanges?
TRX’s price is based purely on trading as there is no standard global TRX price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.
What will TRX be worth in the future?
It’s impossible to make price predictions with any kind of certainty as a whole host of different factors could play a role. If Ethereum continues to suffer from high transaction fees, app developers and investors could turn to blockchains like TRON as an alternative, which could drive up the price of its TRX cryptocurrency.
TRON (TRX) hasn’t been around as long as Bitcoin and some of the other cryptocurrencies, but it’s nonetheless had an interesting journey, from being worth $0.002 after its ICO, to shooting up to over $0.20 during the hype of the 2017/18 bull run.
Its price is affected by general factors, like project developments and movements in the wider economy, as well as more TRON-specific influences such as changes in the circulating supply and increased demand from any of TRX’s use cases. Its current valuation is derived from the balance of buyers and sellers on the markets and constantly changes.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of TRON and cryptocurrencies!