TRON (TRX), Ren (REN) And Synthetix (SNX) Price Analysis – 15 December 2021

A prominent crypto analyst Josh Olszewicz looked into the recent price action of three altcoin projects: Tron (TRX), Ren (REN) and Synthetix (SNX).

TRON (TRX)

TRON is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has capacity for 2,000 TPS. This project is best described as a decentralized platform focused on content sharing and entertainment — and to this end, one of its biggest acquisitions was the file sharing service BitTorrent back in 2018.

Overall, TRON has divided its goals into six phases. These include delivering simple distributed file sharing, driving content creation through financial rewards, allowing content creators to launch their own personal tokens and decentralizing the gaming industry.

Ren (REN)

Ren (REN) is an Ethereum token that powers Ren’s open protocol for transferring cryptocurrencies between blockchains. Ren aims to bring popular assets like Bitcoin and Zcash to blockchains including Ethereum, making it possible for these assets to participate in a multi-chain decentralized finance ecosystem.

Synthetix (SNX)

Synthetix Network Token (SNX) is an Ethereum token that powers Synthetix, a decentralised synthetic asset issuance protocol. Synthetic assets are minted when token holders stake their SNX as collateral using Mintr, a decentralised application for interacting with the Synthetix contracts. The protocol currently supports synthetic fiat currencies, cryptocurrencies, and commodities.