Sun Fundamental Analysis
SUN is a token on the TRON blockchain, initially conceived as a “TRON’s Bitcoin” and meant to popularize DeFi as per the TRON’s founder Justin Sun’s vision. It was launched in autumn 2020. In May-June 2021 SUN went through a massive upgrade, resulting in the complete overhaul of its mission, infrastructure, and even the token itself, which was redenominated and swapped with the new version of SUN with the ratio of 1:1000. This process was completed on June 23, 2021.
The new SUN is not just a currency or a governance token like it used to be. Now it represents SUN.io — TRON’s one-stop platform, primarily used:
- as a low-fee, low-slippage stablecoin swap (initially allowing USDT, USDJ, and TUSD, but planning to add more)
- for token mining, which is possible either by participating in liquidity pools or staking.
Those additions may help popularize the network, as the token gained more utility and earning potential. The infrastructure’s upgrade also expanded the functionality of SUN as a governance token, which helps make the project more community-driven, which has been one of its main goals from the start — it’s described in the whitepaper as a “social experiment”. Of course, it’s also still aimed to facilitate the wider adoption of DeFi.
Sun Price Chart
The old SUN token’s price has fluctuated a lot since the token debuted in September 2020 at around $23. SUN’s price went down later, reaching levels just above $6 in the mid-winter. However, by the spring of 2021 it was in an upswing, hitting $50 in April. SUN entered the redenomination period in late May with the price bouncing inside the $20-$30 range, which meant that after the swap those same prices turned into $0.02-$0.03. There isn’t yet enough data beyond those numbers, as the swap was completed only in late June, so it’s hard to make any SUN price predictions in the long term.
Sun Technical Analysis
Despite the fact that 100% accurate technical analysis for Sun cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated SUN buy-and-sell rating for selected timeframe. The summary for SUN/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Sun Price Prediction
Below we have collected the most reliable price projections for Sun (SUN) from popular forecast platforms.
#1. DigitalCoin SUN Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of SUN cryptocurrency will rise in the next 5 years starting from $0.0789494 as of today’s price to $0.311214. It will go up to $0.1331686 by 2022 and starts its reduction in 2023–2024. Based on this forecast, SUN is a profitable long-term investment.
Summary
As it can be clear from the analysis cited above, Sun (SUN) projections are rather contradictory. There is no universal consensus either about positive or negative future SUN price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Sun projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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Originally published at https://swapspace.co.
