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.
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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.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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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.
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