As the rest of the crypto-verse concentrates on the possibility of a Bitcoin (BTC) bull run, it is also wise to also explore the endless opportunities of other cryptocurrencies to flourish during such periods of a strong BTC. Looking at the crypto-markets, BTC bottomed out on June 29th when it was valued at $5,800. Since then, it has reached and surpassed $8,000: a gain of more than 38% in a period of less than a month. When we have a healthy Bitcoin, TRX will have a chance to prosper. August also is when the Bitcoin ETF by the CBOE is meant to be ruled upon by the SEC bringing us to the first reason why TRX will be ready for a Bull Run in August.
The Tron (TRX) project has gone through an eventful last 2 months that begun with the launch of the Mainnet on May 31st. A key event to the Tron project was the token migration that started on the 21st of June and is yet to be complete in some exchanges. This then brings us to the second reason why TRX is readying for a bull run.
Up until now, many TRX HODLers had their new coins locked up in the over 50 exchanges that took part in the Token migration process. Out of these, around 38 have completed the process. Therefore, the liquidity of TRX has increased with deposits and withdrawals being available. The TRX owners can now either store their newly minted coins for safekeeping or use them as was the case with the Taxi in Spain a few days ago. In the case of the latter, TRX adoption means an increase in demand further boosting the value of TRX.
Also, as exchanges complete the token migration, this means that TRX HODLers can stake their coins for voting on Tronscan bringing us to the third reason why TRX will Run with the Bulls in August. Once new accounts are opened on Tronscan and voting via staking TRX increases, there will be less TRX in circulation. With a decrease in circulating supply, the only way is up for TRX.
Another reason why TRX is readying for a Bull Run is the general psychology of TRX HODLers who expect great things from the coin and project. With the Tron Foundation acquiring BitTorrent and planning to integrate it into the Tron Ecosystem using the secret project (ATLAS), the TRX HODLers will do everything in their power to popularize the result of this project. This will involve convincing family and friends to test drive the integrated platform. More users mean more publicity for the coin and project. This will, in turn, lead individual investors to buy more TRX.
Summing it all up, all the signs and signals are pointing towards a prosperous August for the TRX coin. With the bear market showing signs of easing, August sets the stage for a Bull Run for not only TRX but the entire Crypto markets.
For the latest cryptocurrency news, join our Telegram!
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 Pexels
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
Hodium Presents a Compelling Opportunity for Outsized Investment Returns
I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018. It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants. Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse. The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.
As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha. In that regard, it’s similar to traditional financial markets. I can remember trading during my high school days. It was the late 90s and right in the middle of the dot.com boom. Eventually, however, the euphoria fades away and reality hits hard. Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.
Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques. The professionals employed by hedge funds are the best of the best and have spent years honing their craft. That is why they’re able to make the millions of dollars that they normally…
KaratGold Proves Its Business Model By Providing Official Documents
There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000. Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally. A few of the largest altcoins remain popular but the rest of the market continues to lag behind. In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive. That prediction appears to be playing out as expected. Going forward, only the best projects that have a real world need will survive. Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets. One promising project that appears to have the makings of a future winner is KaratGold Coin.
KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.
Karatbars International and GSB Gold Standard Banking Corporation…