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

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Tron
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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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