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Can Tron (TRX) become one of the top 5 cryptos in the market now?

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Tron TRX

In recent days, Tron (TRX) has been experiencing one of the biggest tractions of the market, a fact that without a doubt is helping the token to appear strongly in the crypto environment. However, when it comes to crypto enthusiasts, many are kind of obsessed with the coin, and on the other hand, many are just not that excited or don’t see the future of it that bright.

In this sense, much has been said regarding would it be or not a possibility for Tron to surpass the top 10 mark and obtain a better performance in the coming months of the year. Regarding this, there are solid reasons to believe that if everything continues the way that is going as of now, Tron (TRX) will become a top 5 crypto this year, and will regain momentum in the months to come. Let’s see how it goes.

What was Tron (TRX) created for?

Starting from scratch, Tron (TRX) is a blockchain platform created by Justin Sun with the intention of providing a fully decentralized space for the entertainment industry. In this matter, what Tron envisions is to become a more accessible platform where the content moves freely, which means that artist and content creators are given a chance to publish their content without the need of a third-party network such as Youtube, Facebook, and such.

The coin is harshly one of the youngest in the sector, and in just a short period of time, it has managed to become the 9th largest cryptocurrency in existence, with a trading volume at the moment of writing of $168,396,000. In addition, Tron (TRX) has achieved to appear listed in more than 30 crypto exchanges in the world, and more than 100 trading pairs are offered for the token holders.

Advantages that Tron brings to the table

Tron (TRX) uses one of the most advanced technologies in the cryptosphere, and this is something that has granted the crypto with a variety of advantages against other coins in the market.

For starters, the TPOS algorithm makes possible for Tron (TRX) to perform transactions faster than many other tokens in the sector, including Ethereum (ETH). The same way, because of the bandwidth system that is applied to transactions, TRX is almost free of fee charges, which is an incredible advantage compared to others.

Furthermore, the token has recently launched its own virtual machine on May 25th (the testing phase and migration are just about to get done) and is a pioneer in the industry with respect to reward programs and features.

An influential founder

One of the masterpieces of the TRX token is undoubtedly its founder, the businessman, Justin Sun. The entrepreneur is one of the most influential figures in the financial industry, who is even expected to beat his old mentor, the CEO and founder of the giant retailer, Alibaba.

Sun has managed to make his own name in the industry, and besides being the head behind the TRX token, he has collaborated with other companies of the sector and owns its own version of a social network in China. He was formerly the Chief Representative of the third largest cryptocurrency, Ripple (XRP), and parallel to that runs his own social network, Peiwo.

MainNet Launch and TRX migration

Tron (TRX) was initially based on the ERC-20 protocol of Ethereum. However, this year the token has started its migration to its own blockchain, a movement that began back on March 31st when the Testnet was launched. The results with this launch were highly astonishing; in fact, the crypto started to climb in the charts by gaining a remarkable momentum.

A little later, specifically in April, the coin started a bearish move, which was mainly originated by the banning activity in the social network, Facebook. It was expected that after the Mainnet launch at the end of May this event would be overpassed, but unfortunately, it also matched with the general dip of the sector.

But now, the migration of the TRX tokens based on Ethereum is just about to finish, and as the users settle on its MainNet, Odyssey, without reporting any issues in coming few days, the token is expected to regain its momentum.

Fiat pairs and listings

One of the strategies TRX has deployed in order to overcome the recent bearish performances is working on different relationships with influential organizations of the sector. Like this, it has managed to partner with at least 30 different exchanges including OKEx, Bithumb, Binance, Upbit, Coinegg, Bit-Z, Coinflip, and the most recent one, Coindelta.

In addition, the coin has added liquidity to its token by offering fiat trading options such as TRX/USDT, an initiative that seeks to decouple Tron (TRX) from BTC while trading with the coin.

Conclusion

Tron is giving the most solid steps in order to continue its climbing in the industry. With all the partnering activity, the liquidity injected to the coin, and the developments the company is doing, one of the most certain things to happen in the short term is that the token reaches its ambitioned top 5 status.

And Tron’s Super Representatives’ move is worth noting too. But, as of now, nothing guarantees that the coin will join top 5 cryptos list, it will majorly depend on how the new MainNet of Tron works out and how well the company keeps pushing forward. So stay tuned!

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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 Pxhere.com

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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