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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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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.

Mission Statement

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,…

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CoinFlip Scores Big with BRD Wallet Partnership

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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.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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