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Why August 30th Is A Crucial Day for Tron (TRX)

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The past few weeks since the Bitcoin (BTC) ETF was delayed by the SEC, has been a tumultuous one in the markets for all digital currencies. Our favorite digital asset of Tron (TRX), has also not been spared. TRX is currently valued at $0.20 at the moment of writing this and down 6% in the last 24 hours. This is despite the project having a successful Testnet launch; a successful Mainnet launch; a successful Beta version launch of the Tron Virtual machine; as well as a successful token swap that started back in June and concluded a few weeks ago.

As a matter of fact, it has been a period of continual decline for the TRX digital asset since early May when it was valued at $0.0973. The digital asset has since fallen 80% in 4 months. Primarily to blame is the general decline in the crypto-markets that has been fueled by a sea of bad news after bad news. First, there was the rejection of the Winklevoss ETF followed by the postponement of the CBOE sponsored Bitcoin ETF up until the 30th of September. If it were not for these events, TRX would be a top 5 coin by now due to the massive achievements in a 12 month period.

Also to note is that the Justin Sun and the Tron (TRX) foundation have recently acquired BitTorrent and BlockChain.Org to further their decentralization efforts. But all this would not mean much if the Mainnet is not 100% functional including supporting the creation of DApps.

Here is why the 30th of August is Critical for the Tron Project

On this day, the Tron Foundation completes the final upgrade on the Mainnet by integrating the final version of the Tron Virtual Machine. The currently working Virtual Machine is a test version for the developer world to test drive and find bugs as well as get a feel for the final version of how the virtual machine will work.

In a recent interview to the Crypto Lark on Youtube, Justin Sun is quoted as saying the following with respect to launching the final Virtual Machine version on the 30th of August:

“Actually…we are ready for the launch already. But we are doing a lot of the tests…like the pressure test…volume test…to make sure it works very well when we launch. Our Mainnet was already launched on the 25th of June, but right now we are building the Virtual Machine on the Mainnet. The Virtual Machine is [where developers] can develop very interesting Decentralized Applications, DApps, on the network.”

Therefore it is all systems go for the Tron Project on the 30th August with the final piece of the puzzle finally in place. This will mean that the Tron Mainnet will be able to migrate the 18 current Tron Dapps to the Mainnet. One such app – Peiwo – is estimated at having over 10 Million active users. The total number of users on the 18 DApps was once claimed to be 100 Million. This means that all these users will migrate to the Mainnet as soon as the final Virtual Machine is ready.

With more users on the Tron Mainnet, the demand and use of TRX will also increase as a result. This means that the only way is up for TRX in the markets once DApps start being developed on the Mainnet. The Sky is the Limit for the Tron project henceforth.

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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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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…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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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 Background

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…

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