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Users pay content and app developers in Tronix coins and they can store the payment or exchange it for another cryptocurrency.
Tron’s case and value proposition to the world is well known but behind the scenes there are some concerning realities plaguing the cryptocurrency.Most notably, there are more than 66 billion coins in existence, despite recent moves to burn or eliminate many coins.As is the case in any asset class, supply and demand rules reign supreme.TRX price prediction 2020: just a gambling and gaming investment?
According to Dappradar’s 2019 year-end summary and review, Tron has fallen flat in its ability to extend its vision of a free and open internet to venues outside gambling and gaming.In fact, 90 per cent of Tron’s audience interacts with one or more gambling dapp, 10 per cent interact with exchanges, and 0.1 per cent interact with games.
Aside from gambling and high-risk categories, Tron ’s most popular dapp called TROBNET saw its daily active unique wallets usage drop in half from 4,000 in June to fewer than 2,000 by the end of 2019.
The argument can be made that December marks an extremely weak time period for the entire cryptocurrency segment so longer-term investors shouldn’t place much emphasis on this data.But, at the same time, facts are facts and none of this supports the case for a bullish Tron price prediction 2020.Open a trading account in less than 3 min Open Now
What happened to the vision of transforming the internet to be more fair and balanced? One also has to wonder if Tron is actively seeking out gambling developers for its platform, TRX price prediction 2020 implies its prior high of around 30 cents certainly won’t be seen.Warren Buffett isn’t convinced
Tron founder Justin Sun was the winner of billionaire investor Warren Buffett’s annual charity auction where one lucky person gets to break bread with the “Oracle of Omaha”.
The lunch date was a test of sorts that would have convinced the world that Tron and its vision for the future would get Buffett’s stamp of approval.It didn’t.
Buffett went into the lunch meeting with Sun and other blockchain visionaries thinking Bitcoin is akin to “rat poison” and likely felt the same way about the broader cryptocurrency.In a CNBC interview , Buffett couldn’t have made it any clearer that he isn’t buying what Sun is selling.Buffett said: “I don’t own cryptocurrency and I never will.”
However, Sun reportedly gifted Buffett a smartphone preloaded with bitcoin and Tronix.
It is reasonable to assume Buffett looked at the Tron price forecast and gave it away to charity.
Buffett couldn’t be more of a cryptocurrency bear and many point out that he doesn’t understand the underlying technology.Perhaps it is merely a function of his tender age and the younger generation of investors “get it”.
The jury is still out.
TRX forecast
YouTube channel Crypto Crow laid out its TRX price prediction 2020 and noted the digital currency could double in value.This implies a Tron price of 2020 of $0.0344.Needless to say, a 100 per cent gain in a year is a great return on investment but any upside above and beyond is unlikely.
Tron is still a very small player in the broader cryptocurrency market, holding a 0.44 per cent market share of the total cryptocurrency market cap.At its all-time peak it accounted for a 1.02 per cent market share.
It is also important to note that Tron’s developers were accused of plagiarisation, either verbatim or slightly different from Ethereum, without proper attributes.
More recently, Tron’s acquisition of BitTorrent was blasted by a former BitTorrent executive who said there is “no way” Tron’s infrastructure can handle the large volume of transactions required to tokenise BitTorrent.
The bottom line is Tron (TRX) price prediction would be hard to estimate for 2020 and beyond.The company is a clear visionary in the field but it has suffered some setbacks and strayed a bit from its founding vision and purpose.The latest TRX price prediction 2020 calls for the cryptocurrency to show minimal gains until the brains behind the organisation give a new and exciting reason to buy some TRX tokens.Ready to get started?.
