The live TRON price is $0.28 with a 24-hour trading volume of $429.84 million. Over the past hour, the TRX price increased by 0.03%, and it is up 1.10% since yesterday. TRON's live market cap stands at $26.69 billion, calculated by multiplying the circulating supply of 94.79 billion coins by the current market price.
Understanding TRON (TRX) and Its Market Position
TRON is a decentralized blockchain platform designed to support smart contracts and the creation of decentralized applications (dApps). It employs a delegated Proof-of-Stake (DPoS) consensus mechanism, which enhances transaction speed and scalability but involves a select group of validators. Founded by Justin Sun, the TRON ecosystem expanded significantly with the acquisition of BitTorrent in 2018 and the subsequent launch of the BitTorrent Token (BTT).
TRON Market Capitalization Explained
Market capitalization represents the total value of a cryptocurrency in circulation. TRON's market cap of $26.69 billion indicates its substantial valuation within the digital asset market. A high market cap generally reflects strong investor confidence and relative market stability.
Analyzing TRON Trading Activity
Trading volume offers insight into market liquidity and investor interest. In the last 24 hours, 1.53 billion TRX were traded, equivalent to $429.84 million. This level of activity, coupled with a positive price movement, suggests active market participation.
Current TRON Price and Real-Time Updates
The current price of one TRON (TRX) token is $0.28. Real-time price updates are essential for traders and investors to make informed decisions based on the latest market movements.
TRON Circulating and Maximum Supply
TRON has a circulating supply of 94.79 billion TRX, which is also its maximum supply. This fixed supply means no new tokens will be created, which can influence price dynamics based on demand.
TRON’s Popularity and Market Rank
TRON currently ranks 8th among all cryptocurrencies by market capitalization. This high ranking underscores its significant presence and adoption within the global digital currency landscape.
Frequently Asked Questions
What is TRON used for?
TRON is a blockchain platform that enables developers to build and deploy decentralized applications and smart contracts. It is also used for content sharing, entertainment applications, and decentralized finance (DeFi) solutions.
How does TRON's consensus mechanism work?
TRON uses a delegated Proof-of-Stake (DPoS) system where token holders vote for super representatives who validate transactions and maintain the network. This design aims to balance efficiency with decentralization.
What factors influence TRON's price?
TRX price is affected by overall market trends, demand for dApp usage, network upgrades, investor sentiment, and broader macroeconomic factors influencing cryptocurrency markets.
Where can I securely trade or track TRON?
You can trade TRX on major cryptocurrency exchanges. For accurate tracking and trading, consider using platforms that provide real-time data and secure transaction capabilities. 👉 Explore real-time market tools
Is TRON a good long-term investment?
As with any cryptocurrency, investing in TRON carries risks. Its long-term value depends on adoption rates, technological developments, regulatory changes, and overall market conditions. Always conduct thorough research before investing.
Can I use TRON for decentralized applications?
Yes, TRON supports a wide range of dApps across industries like gaming, finance, and social media. Its high throughput and low transaction costs make it suitable for various decentralized use cases.