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Cryptocurrency Analysis: Tron (TRX), Ethereum (ETH) and Bitcoin Cash (BCH)

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The cryptocurrency market has entered another turbulent period, with shifts between price recoveries and corrections happening as often as several times per day. It is clear that the coins are still nowhere near to being stable, and most of them are impatient for something to happen, and that extends to investors and traders as well.

However, while most eyes are on Bitcoin, many are also curious about other top coins as well, particularly those within the list of the top ten largest cryptocurrencies by market cap.

Ethereum (ETH)

Ethereum is the second largest cryptocurrency by market cap, and likely the second most important coin ever to be made. It is the coin that helped the attention shift from crypto towards blockchain, acting more as a development platform than an actual currency. As a result, Ethereum has started the blockchain revolution, and it became the go-to project for developing dApps, smart contracts, as well as new coins.

It is still the leading project when it comes to the number of other projects developed on its platform, and while it has its own issues — as well as a lot of competition — Ethereum manages to hold its ground. Meanwhile, its coin, Ether, is currently seeing growth, aiming to once again reach the price of $150, although it has several large resistance levels to beat. However, it already breached the most important one at $140. Its price at the time of writing is at $140.51.

Bitcoin Cash (BCH)

Bitcoin Cash is a member of the Bitcoin family, a coin which came to be as a fork of Bitcoin itself. It emerged after the community got split into two groups, one that wanted to see Bitcoin remain true to the vision of its creator, Satoshi Nakamoto, and the other that wanted to take the coin elsewhere and bring changes.

Those loyal to Satoshi’s original plan developed Bitcoin Cash, although this project saw a similar split itself, and recently, in November 2018. The history repeated itself, and BCH started changing its course from the ‘Satoshi Vision’, which caused a part of its community to create a new fork, and call it Bitcoin SV (BSV), which is short for ‘Bitcoin Satoshi’s Vision.’ Meanwhile, BCH itself went its own way and is currently seeing gains, with a price of $160.840 per coin. It is currently the 6th largest coin per market cap.

TRON (TRX)

Finally, there is TRON, a project that aims to decentralize the web and revolutionize the entertainment industry. Led by Justin Sun, TRON started as an ERC-20 token, meaning that it was developed on Ethereum’s network. However, it launched its own blockchain in early summer last year and has since seen a lot of success.

The project became a development platform similar to Ethereum, with some of the most popular dApps in the crypto world being developed within its ecosystem. In addition, TRON continued to establish one partnership after another with various exchanges and companies. It even purchased BitTorrent back in 2018 and launched BitTorrent token (BTT) on January 28th, 2019. The coin also got support from the largest crypto exchange in the world, Binance. It managed to break several records, including the one for the highest number of transactions within 24 hours, previously held by Ethereum.

All in all, TRON appears to have the largest potential to earn the title of ‘Ethereum Killer,’ if the amount of activity within its ecosystem is anything to go by. However, its price is still relatively low, currently sitting at $0.022962.

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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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Livepeer Price is Soaring: Here’s Why it Will Recoil Soon

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Livepeer price drifted upwards on Friday as investors moved to video-focused tokens. LPT price soared to a high of $10.3, the highest point since November 8 of this year. It has jumped by more than 164% from the lowest point in December. 

What is Livepeer? 

Video is a major industry that is currently dominated by large centralized platforms like Vimeo and YouTube. These platforms work well because of the vast amount of money the companies have invested in video infrastructure. 

However, some industry players believe that the industry is ripe for disruption using the blockchain technology. Some of the leading players disrupting the video industry is Livepeer and Theta Network. Instead of relying on centralized servers, these networks rely on thousands of distributed servers.

The network works in a relatively simple approach. The video broadcaster comes up with a video content and then distributes through a distributed network. 

Livepeer has been used to build several decentralized video platforms in the industry like Xeenom, Bonfire, Kavarii, and LiveSpace among others. For example, Lenstube is a decentralized and open-source video-sharing social media platform while The Lot Radio is an independent online radio that streams on a 24/7 basis.

However, there are concerns whether Livepeer and similar platforms are needed in the first place since centralized ones like YouTube, Rumble, and Vimeo work just…

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Solana Price Forms Triple-Top as DeFi and NFT Volume Soars

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Solana price has formed a bearish chart pattern as Solana’s ecosystem makes a stunning comeback. SOL/USD was trading at $24 on Friday evening, which was a few points below the year-to-date high of $26.50. It has soared by more than 206% from the lowest level in 2022.

Solana DeFi volume rebounds

Solana TVL

Solana, once a popular blockchain, came under intensure in November, following the collapse of FTX and Alameda Research. In addition to FTX Token, it was the most exposed cryptocurrency in FTX since the company was one of its key funders.

FTX and Alameda also had a major role in Serum, then the biggest DeFi protocol in the ecosystem. Serum made it possible for investors to earn yield in Solana. Serum collapsed because its public key was controlled by FTX. 

In the aftermath of this collapse, Solana saw its total value locked (TVL) plunge from more than $12 billion to less than $400 million. Serum, which had a TVL of more than $1 billion has collapsed. And in its place, the developers are working on a new product known as OpenBook. However, it has not gained much traction as its TVL stands at $4…

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Ethereum Price Outlook as the DXY Index Crash Continues

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Cryptocurrency prices remained in an upbeat tone on Thursday as the US dollar index continued its bearish move. Bitcoin, the biggest cryptocurrency in the world, rose to $23,165, the highest level in months. Similarly, Ethereum has risen by more than 4% in the past 24 hours while BNB Coin and XRP surged to $307 and $0.41, respectively. 

US dollar index retreats

Cryptocurrencies have an inverse relationship with the US dollar index. For example, the DXY, which looks at the performance of the greenback vs other currencies, soared to a 20-year high of $115 in 2022. As that happened, cryptocurrencies like Bitcoin plunged during the year.

The foundation of this relationship is the Federal Reserve. In most periods, the US dollar index tends to rise when the Fed is extremely hawkish and vice versa. And it was extremely hawkish in 2022 as it hiked interest rates by more than 400 basis points. 

Therefore, while the Fed has remained hawkish recently, the US dollar has dropped because of what the data is saying. Data published recently showed that America’s inflation is easing. The closely watched consumer price index dropped to 6.5% in December while core inflation fell to 5.7%. 

At the same time, other parts of the economy are showing that the American economy is indeed recoiling. Retail sales dropped sharply in December while many…

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