DES MOINES, Iowa – Recent market sentiment analysis shows good performance for the TRON (TRX) price trend. The trading value of TRX reached $0.0512, reflecting an increase by 3.90 percent over the last 24 hours.
Over the last 7 days, TRX coin’s value increased by 27.14 percent. Supply levels reached 65,748,111,645* per current reading, and market capitalization for TRX is at 3,363,791,738.00. Trading volume over the last 24 hours reached 400,597,000.00.
Advantages of Cryptocurrencies
With the recent TRX price trend feedback, there are several reasons cryptocurrencies like TRX are advantageous.
1. Security of transactions – though there are no regulating bodies in the cryptocurrency market like a central bank for the stock market, technology solves the problem. Using blockchain technology, almost everyone can monitor all transactions. With this setup, it is hard to falsify transactions. Aside from that, crypto-traders possess a private key which authenticates the transfers made within the crypto-arena.
2. Ease of payment – unlike transactions occurring in the stock market, cryptocurrency transactions can be performed without intermediaries (e.g., commercial banks, investment banks, mutual funds, etc.)
3. Little to zero processing fees – with the existence of financial intermediaries in stock market transactions, these financial intermediaries charge finance costs (or interests), flotation costs, and underwriting costs. Cryptocurrencies only require little to zero processing fees. And if the cryptocurrency market improves and becomes stable, processing costs may be eliminated completely.
Disadvantages of Cryptocurrencies
Though some people view the TRX price trend to be a positive one, some are still skeptical about cryptocurrencies. Here are some reasons:
1. No regulating bodies – in a financial system, regulating bodies like the central bank monitor transactions and ensure the welfare of the investors. However, cryptocurrencies fall back in this matter. If a crypto-trader loses his/her wallet, there is no regulating body for him/her to report about this loss.
2. No central processing center – like a financial intermediary in financial markets, banks, for example, facilitate payments for investors. However, cryptocurrencies don’t have intermediaries, so disputes and refunds for payments cannot be settled fairly.
3. Not a legal tender in most countries – though there is fortune in cryptocurrency, some countries still don’t recognize it as legal tender. Also, some businesses don’t accept cryptocurrency as payments even if cryptocurrency is sanctioned as legal tender in their country.
Alternatives for Bitcoin
Bitcoin is the first word that most people would remember about cryptocurrencies, but alternatives – TRX included – also exist in crypto-space. Alternatives like Ethereum, Cardano, NEO, Litecoin, Stellar, etc. have been showing good performance lately. Though cryptocurrencies are still unstable, many risk-seeking investors are eyeing at the potential of cryptocurrencies. However, crypto-investors are still advised to be cautious.
With the TRON (TRX) price trend in good record, it won’t be a surprise for this cryptocurrency to attract attention and shake the crypto world.