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Can Tron (TRX) maintain its momentum ahead of MainNet launch?

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Tron TRX momentum

Tron (TRX) is currently sold at $0.064 handle off the Asian low which is sold marginally at $0.5813. However, the coin is seen as one of the top ten cryptos in the world today, but it is down to about 21% from its original status that it attained on April 30. Indeed, purchasing it around $0.06 can be considered as a step forward.

Furthermore, even though the current situation of Tron (TRX) has improved marginally, TRX/USD needs an upsurge above the sloping trendline, which is at $0.0817, to repudiate the recent ‘positive’ momentum.

Nevertheless, it necessary to know that Tron (TRX) is set to launch its MainNet in just one day and currently, the coin is set to release its javascript program. But one question that has raised a little bit of concern is that will Tron (TRX) maintain its momentum throughout this year and the years to come by acquiring further profits in the market?

Tron’s MainNet launch into the market means that it will definitely experience a variable increase in price movements before and after the MainNet gets launched. Moreover, the price has shifted into a triangular form which implies that a breakthrough might occur in both directions in the future.

In the time of the TestNet launch, which was the last vital activity that was performed by Tron on March 31st 2018, there were sharp drops in price. On March 29th, Tron’s (TRX) was priced at $0.048, but by April, the coin was priced at $0.033 (which presented a significant price drop).

Furthermore, the decrease in the price of Tron (TRX) comes in a time when there were turbulences in the crypto-market, and during that period, the price of bitcoin was valued at $6,570 against its initial value at $8,000. The same inclination might occur with Tron’s (TRX) as its MainNet is about to be launched after 30 hours or so. Nevertheless, in the coming days, the digital currency has planned its activities to put TRX in an excellent state (well, at least, they are trying their best) in the crypto-market.

Firstly, the digital currency, Tron (TRX), has lined up strategies to migrate its token in June. Additionally, Tron (TRX) has also passed a TRX Airdrop to make its MainNet popular and help in the migration of its token. With these plans, Tron (TRX) is also set to launch the Genesis block on the 25th of June.

With all these events coming up in the next few days, we could safely say that Tron (TRX) is not ready to take any chances for a drop in its price that occurred a few months back immediately once MainNet is launched. This further implies that the token will continue to maintain its momentum and even increase its value in the coming days and years.

With the variable challenges facing big cryptos like Bitcoin (BTC), Etherium (ETH), Ripple (XRP), it is seen that these major ‘crypto-market players’ are in the red. It is for this reason that the U.S Department of Justice is aiming to manipulate Bitcoin (BTC).

So, it seems Tron has put together all the things ‘correctly’ to maintain its momentum strongly even after the Main Net launches. But, things could go the other side for Tron’s TRX too if the market keeps going down due to legal issues (the alleged US manipulations).

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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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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