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Tron’s mainnet migration starts receiving support of exchanges already

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An overall market cap made Tron’s TRX altcoin drop by 4.44% in 24 hours, which brought it down to the market’s number ten position. TRX started on April 27 at $0.069 and then broke the psychological $0.1 barrier on April 30th. It went down a little right after that, and at the time I researched this article it was at $0.083, which is still a relevant increase in value.

Only Cardano‘s coin has grown more, or quicker than Tron’s coin. Tron has grown by 10.22% over the last week while Cardano is up by 21.24%

As Tron’s Main Net migration becomes imminent (scheduled for May 31st), digital asset exchange platforms are continuing to support Tron; in return, increasing demand, and adding value. This even includes the May 25th virtual machine run.

Gate.io is (owned by Gate Technology Inc.) one of the world’s leading exchange platforms. They do business in 130 different countries, and the exchange very well known for being a simple and safe place to trade in Bitcoins. It’s been around since 2013, and, from its beginning, it’s been offering hundreds of high-quality blockchain products, trades, and exchanges the world over. And now, it is supporting Tron’s migration wholeheartedly.

The migration means that all of Tron will go from the ERC20 token to TRX. Justin Sun (Tron’s founder and CEO, who is already being hailed as the next Jack Ma, Alibaba‘s founder), is the man behind the plan. This migration has been criticized by some, especially by Vitalik Buterin, of Ethereum fame, but it must be noted that Mr. Buterin has a bone to pick because as Tron’s move attracts new investors, Ethereum will be the main loser.

Once Tron’s Main Net is deployed, Tron will be the world’s largest blockchain currency if we go by user base numbers. It will be just as big as Ethereum and Bitcoin, but it has the potential to become an even bigger ecosystem. It already has a hundred million users and support from some very relevant partners.

A cryptocurrency that’s getting support from such big players should get your attention. Tron’s currency is relatively new, but it’s fast, reliable and holds a lot of promise. Bitfinex also came out in Tron’s support last week.

Besides the migration, Tron announced an Ethereum airdrop last April 21st to show their support for the subjected currency community. As I write this article, 4% of Ethereum users have been included in the airdrop.

Right after that Tron increased mining fees in order to motivate collaborators to increase transaction speeds even further (and Tron’s coin is already among the fastest in the market).

The airdrop produced a lot of excitement among Twitter users. It’s happening, they have good reason to be excited.

At this point in time, despite some fluctuations, Tron’s coin is still cheap enough to buy in bulk and chances are it will increase its value steadily during the rest of the year.

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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 Luke Jones via Flickr

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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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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