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Crypto market analysis: Bitcoin, Ripple (XRP), and Tron (TRX) price surge

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For starters, last week witnessed Major League Baseball (MLB) announcing their intention to release an Ethereum based virtual, collectible game later during the Summer of 2018. The Major League Baseball in collaboration with Lucid Sights, a blockchain gaming firm, is working on a game-changing dApp that is going to boost the baseball fandom.

How this is going to work is MLB Crypto Baseball similar to CryptoKitties, blockchain’s most popular game, will allow users to buy and exchange virtual kittens, using Ethereum as the mode of coinage. Given that virtual assets have established themselves as profitable ventures, MLB’s primary objective in presenting the Ethereum-based game is to attract young individuals back to baseball by increasing its hype.

While MLB might be the first major league to back the blockchain technology fully, they are not the first sports utility to commence adoption in America. NBA’s Sacramento Kings, one of the most tech knowledgeable commercial businesses in all of the sports, accepted Bitcoin in 2014 to be one of their ticket and merchandise payment options.

Cryptocurrency Market in the Green

Bitcoin

Although being down for almost one month hovering below 7,000 US dollars, Bitcoin has started to bounce back in the last seven days or so. Yesterday’s market activities saw Bitcoin prices skyrocketing registering a jump of 600 US dollars in less than 2 hours. Other virtual currencies such as Moner, Cardano, NEM, and EOS have followed the trend showing significant price increment in yesterdays and today’s market activities.

At the time of writing, Bitcoin is currently exchanging at $8,180 per digital coin, an estimated 600 US Dollar increment from its previous 24-30 hour market value, according to data released by Coinmarketcap.

At the time of writing, cryptocurrency total market cap stands at $140,449,716,215 up against its previous 126,178,000,000 market cap. Also, Bitcoin’s market cap has gained about $10 billion to currently stands at about $126 billion against the last $116 billion mark it was recording just about a week ago.

Ripple (XRP)

Like other leading virtual currencies, Ripple has been on a bullish trend since the start of Q2. On 10th July, Ripple (XRP) had depreciated to a low of 0.44 US dollars trading horizontally before the bulls took the coins value to a high of $0.51. Given that Ripple (XRP) is now out of the range bond zone of 0.45 US dollars and 0.42 price levels, Ripple is expected to continue with its momentum promising a brighter future for coin holders.

Tron (TRX)

As we all know, Tron has been making headlines having an eventful two months closing deals and signing significant partnerships with other significant financial players.

Tron is not being left behind in the ongoing bull run being experienced in the market with its prices jumping to $0.03769 today. A price surge of more than 8 percent in the last 24 hours.

According to CoinMarketCap, Tron’s (TRX) market cap currently stands at 2.4 billion US dollars. Many experts believe that today’s price surge of Tron is caused by the confirmation of Tron acquiring biggest p2p platform, BitTorrent, and will continue to climb.

Conclusion

Many crypto enthusiasts are attributing the current price surge by Bitcoin, Ripple (XRP), and Tron (TRX) being experienced due to several high-profile recommendations from the financial world.

Goldman Sachs, the new chief executive of US investment bank, is reportedly looking into ways he can venture in the crypto market. Also, giant hedge fund, BlackRock, is also reportedly building a team to study and investigate the uses of blockchain and bitcoin in the market but are said to be doing so under the radar. And now, today, the confirmation came in that Justin Sun, the CEO of Tron has ‘actually’ acquired BitTorrent. It seems like good fortune has come back to the cryptocurrency world.

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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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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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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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