Tron TRX/USD is a blockchain-based decentralized platform as well as an open-source blockchain computing platform that offers smart contract functionality.
Tron’s listing on Euronext Exchanges as a catalyst for growth
TRON has announced that VanEck Vectors TRON ETN (VTRX) will be listed on the Euronext Exchanges in Paris and Amsterdam.
The listing of TRX ETN marked TRON’s entry into the global mainstream financial market and marked another milestone in regards to its compliance.
ETN stands for Exchange Traded Notes. This is an unsecured debt security that tracks an underlying index of securities. They share similarities with bonds however do not pay periodic interest payments.
This means that investors can buy and sell ETNs on major exchanges, suck as stocks, and profit from the difference.
Tron’s ETN will make the token available for trading to a lot more people, which has the potential of increasing its value. This opens up the future market of cryptocurrencies for European Investors.
Should you buy Tron (TRX)?
On September 28, Tron (TRX) had a value of $0.085.
In order to get an indication as to what kind of value point this is for the token, we will be comparing it to it’s all-time high value as well as its performance in August.
In regards to the all-time high value of Tron, it was on January 5, 2019, when the token had a value of $0.231.
When we compare September 28’s value to the token’s all-time high, there is a difference of $0.146 or 171%.
When it comes to its performance in August, the TRX token had its lowest point of value on August 2, when it was worth just $0.062.
On the other end of this spectrum, its highest point was on August 16, where the token increased its value to $0.095.
Here we can clearly see that the token increased its value by $0.033 throughout that specific time frame of the month, increasing 53%.
With that in mind, we can realistically expect the token to increase in value to $0.130 by the end of October, which makes it a worthwhile purchase.
The post I’m buying Tron (TRX) in September 2021, and this is why! appeared first on Invezz.
from Market Analysis – Invezz
