Why did TRON experience a decline in 2020? Will TRON reach 10 yuan?

08/18/2023 09:58 • AI Insights • 60 views

Why did TRON experience a decline in 2020? Editor’s note: This article is from BlockBeats (ID: blockbeats), author: 0x29, reprinted with permission from Odaily Star Daily.

2020 was the craziest year in the blockchain world, so why did TRON experience a decline this year? In the past year, TRON’s market value has halved, and TRON’s TVL (Total Value Locked) has dropped by about 70% since the beginning of last year. The skyrocketing price of tokens on TRON caused many project teams to choose to exit the industry, but this did not eliminate any tokens of once hot and promising projects. This situation has continued, as with Bitcoin, Ethereum, and other altcoins. So the question is, why didn’t other mainstream public chains continue to gain momentum in this bull market? Let’s take a look together. First, why did TRON experience a decline in 2020? TRON’s performance is similar to ETH2.0, but unlike ETH2.0, the performance of EOS is superior. Since smart contract functionality requires a massive upgrade to the blockchain, the EOS team had to make significant changes to increase TPS (Transactions Per Second) and reduce latency. This led to a sharp decrease in the number of EOS nodes, making EOS one of the targets of many hacker attacks. Second, why doesn’t TRON give up community development? Based on the current global development situation and trend, TRON’s ecological construction is gradually improving and will transition from being focused on the EOS mainnet to being developer-oriented, becoming the main value carrier of the EOS network. As a public blockchain network with a large number of users, TRON’s success in 2019 has gradually made it one of the largest distributed financial systems in the world. Third, why won’t TRON abandon itself? Since 2018, TRON has been focusing on the development and application of TRON underlying technology and has actively laid out TRON Polkadot and Ethereum. Fourth, why did TRON experience setbacks? According to the official “2019 Annual Report” released by the TRON Foundation, the foundation has made continuous research and development investments to solve security vulnerabilities in TRON’s core protocol and achieve cross-chain asset transfer capability. The TRON Foundation said, “After three years of technological accumulation and development, we believe that with the addition of more high-quality projects, TRON will usher in its own spring.” Fifth, why did TRON always leave? If we look at it over the long term, Sun Yuchen is one of the most benefited. Sun Yuchen led the entire TRON community to complete an ICO financing at the end of 2014, with a total investment of $300 million, and Sun Yuchen is considered a “leek”. He not only started exploring TRON DApp development when TRON was established in 2017 but also established the TRON Foundation to help developers build their own applications. According to CoinMarketCap, on June 17, 2017, the total number of TRON DApps reached 1.5 billion.

Will TRON reach 10 yuan?

According to Cointelegraph, the price of TRON (TRX) has risen by about 4% in the past 24 hours. However, according to data from BitMEX, the increase in TRON’s price is not significant compared to mainstream currencies such as Bitcoin and Ethereum. According to CoinMarketCap as of 10:00 am on June 1 (GMT+8), TRX was priced at $90.12. At the same time, Bitmex data shows that the issuance of USDD by Tether reached around $500 million, and the company behind it, TRC20-BTC, has also gradually entered the market. This means that in the next few years, TRON’s market value will reach $10 billion, or even $5 billion. (coindesk)

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Why did TRON experience a decline in 2020? Will TRON reach 10 yuan?

Will TRON reach 10 yuan?

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