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$400k Tron giveaway: Binance to bounty TRX holders 10 million tokens

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Tron
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Tron (TRX) is one of the tokens that is known for never settling when it comes to the creation and deployment of strategies that could help the coin to surge in the crypto market. In this sense, alliances have been one of the moves that the company has worked the most. In fact, this is for sure one of the aspects that have guaranteed the success of the coin in the industry, since their primary concern is the creation of collaborations that facilitate the usage of their services, and the offering of more adequate solutions to its users every time.

This way, one of the most recent partnerships that the token managed to make is the one with Binance, a collaboration that undoubtedly many of the TRX holders appreciated as it represented a crucial assistance in the current times that Tron is going through with its independence from Ethereum protocols and blockchain.

Binance has played an elemental role in the migration process of Tron, and this is something that has even gotten farther with the integration of the TRX/USDT pair that the company added not so long ago. This time, the partnership proves to be even stronger with the announcement that Binance will deploy a millionaire giveaway on TRX tokens starting today, news that without a doubt has raised a whole wave of interest from the token holders. Let’s find out the details about the giveaway.

Binance TRX trading competition

The competition was announced today morning through the official Twitter account of Binance in a message that read as follow:

Immediately the community reacted to the message, and this was even bigger when the news got retweeted by the founder and CEO of Tron, Justin Sun.

Along with the Tweet a link was provided in which all of the details about giveaway were specified. Like this, it was known that 10,000,000 TRX tokens would be at stake to the users who trade the most with TRX on the Binance platform during the period of time between June 29th and July 6th at 00:00 (UTC).

For the giveaway will be taken into account both buys and sells of the token, and it will be verified if any of the activities that the traders deploy can be classified as wash trades, which in case of affirmative will automatically provoke a disqualification of the contest.

https://twitter.com/czm_binance/status/1012313368307388417

Users will be able to trade by using the pairs TRX/BTC, TRX/ETH, and TRX/USDT, and even when the TRX/BNB pair will not be allowed in the contest, participants still will be able to take advantage of the 50% discount of this pair by paying trading fees with it.

The 10 million TRX will be distributed as follows:

  • 2,000,000 for the best TRX trader
  • 2,000,000 distributed between the top 2-11 traders
  • 1,000,000 distributed between 20 semi-randomly drawn traders, which would be any of the traders that finish the contest in any of the positions 69th, 99th, 169th, 189th, 399th, 599th, 899th, 999th, 1299th, 1699th, 1899th, 1999th, 2099th, 2399th, 2599th, 2999th, 3299th, 3599th, 3899th, 3999th
  • 5,000,000 distributed between all of the traders who managed to obtain a trading volume of above 65,000 TRX

Finally, it was known that the TRX holders would not be able to accumulate more than one price of the contest.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pxhere.com

Altcoins

Can Tron (TRX) follow in the Ripple (XRP) footsteps?

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Tron Ripple
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It’s no secret that the cryptocurrency markets have been in an overall slump, especially when you consider all of the bearish action for bitcoin, ethereum, and altcoins, in 2018, compared to the incredible bull run of 2017.

While many people believe that this is simple consolidation, others paint the narrative that many are unsure about real-world applications for blockchain technology and whether institutional money will flow into cryptocurrencies at all.

Ripple is undoubtedly changing that narrative, recently surging over 80% thanks to its developments and partnerships with financial institutions.

It even briefly took Ethereum’s spot as the number two coin by market capitalization, in a price rally that confirmed a trend reversal and stunned many investors and traders in the cryptocurrency community. The price eventually decreased as Ripple returned to the number 3 spot concerning market cap, but the price movement certainly made a statement.

There are those who have been wondering whether Tron could make a similar move eventually, considering it is a project that has decreased dramatically in market cap, and many consider the coin oversold.

The fact that Ripple made an 80% move that quickly gave hope to other altcoins, and comfort to the cryptocurrency community that may be in the red that not only was it possible to break even again, but all was not lost in the markets, and that they can begin hoping to profit, in the long term.

Altcoins

Key factors why we may see a big Tron (TRX) boost shortly

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Tron is a decentralized platform that makes use of a Peer-to-peer system for its network. The platform aims to decentralize the web and also change the content (entertainment) industry.

Talking about the blockchain project’s history, Tron was created by Justin Sun – a protégé of Jack Ma. At the moment, lots of contents are managed by middlemen such as Facebook, YouTube, and the likes. But Sun aims to create a system that helps content creators have full ownership of their contents (and of course earn more as there won’t be any middlemen).

Subsequently, Tron aims to liberate the entertainment industry and the contents that are shared in it and also by making sure that there is a system where data can’t be controlled (the true decentralization and security).

It is important to know that Tron (TRX) is also a platform that permits the distribution of digital assets exchange and market forecasts.

What are the advantages that Tron (TRX) brings to the table?

Tron has lots of advantages. Its team of developers is top-notch, and it also has a futuristic leader: Justin Sun. Tron is a platform that helps content creators; its users are eligible for gains distributed by the platform.

Clearly, this blockchain platform was created for people with a great interest in the entertainment world. It is worth keeping in mind that Tron has launched a series of projects that benefit not only the platform but also its…

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Altcoins

Ripple jumps 50% again today, 3 reasons behind current XRP rally

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Ripple
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In the last 24 hours, lots of digital assets in the crypto space have experienced a surge at the rangebound of 2-10%. Nevertheless, the cryptocurrency that is leading in the current wave is Ripple (XRP). Ripple is driving with almost 10% more gains than the others, even the Bitcoin.

Right from Tuesday this week, the price of XRP has increased by 40%. Considering that, Ripple has undisputedly been the growth leader on the daily price trend in the recent ‘nice-little-rally’ this time. It is important to know that its volatility has reached maximum heights since the beginning of this year.

As a result of the rangebound surges that are experienced in the crypto market currently, the total market capitalization totals to $2 billion. More importantly, the market cap of Ripple also reached $22 Billion – almost equivalent to Ethereum’s current market cap of $23 Billion.

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Today, XRP even took Eth spot on coinmarketcap for a while as it became the second largest crypto, which the cryptocurrency couldn’t hold for long (on the third spot yet). At the time of press, Ripple (XRP) trades at $0.5663…

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