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The foundations for Tron (TRX) to hit $1 mark are already set

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Tron TRX
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Tron (TRX) has been having a hard time over the course of the last weeks. The coin appears to be going down the hill with a decreasing behavior that has lead the value of the token to the current price of $0.04239. In general terms, currently, the panorama for cryptocurrencies is not good at all, in fact, Bitcoin has not managed either to resist the drops in the market and this as a consequence has affected several coins that somehow relate to the token for exchange purposes.

In this sense, Tron (TRX) is one of those altcoins that because of being related to Bitcoin has suffered in a more significant measure – the consequences of the fluctuations of the leader of the sector. However, it is to be noted that even when the circumstances are not the best, the TRX token has managed to stay afloat with an average value of between $0.04 and $0.035, which if interpreted correctly, shows how resilient the coin actually is.

In spite of this, the current position of a great part of the community is falling into despair, which is actually not that crazy after seeing how the crypto has been performing in the last couple of days. However, there are multiple reasons to believe the coin will skyrocket during this year, even being able to reach the mark of the 1 dollar. Let’s see what the main reasons behind this potential growth of Tron are.

BitTorrent purchase

The CEO of Tron, Justin Sun, is characterized as being one of the brightest minds in Asia and the whole world. Sun seems to be calculating the moves very well that are to be made to launch the token to another level, and this time, the businessman has decided to personally acquire BitTorrent, a leading enterprise of the torrent sector. Although the acquisition was made under personal terms, it is not hard to see the intentions of the CEO to integrate this with the Tron’s platform later, a goal that is even mentioned on the token’s whitepaper now.

Furthermore, to make it even more exciting news, the time of acquisition is definitely right, as Rainberry Inc, the company behind BitTorrent, acquired a patent for peer-to-peer live streaming just before passing to be Sun’s property. As it can be expected, this results in amazing possibilities for the TRX token, that after a very likely integration of BitTorrent to the Tron’s platform may get a huge boost.

This way, we could be seeing a 1 dollar mark set on Tron (TRX) over the course of this year, and this is something that may be supported by the fact that the coin is now unlinking from BTC with USD purchase options being more available in the market chronologically.

In fact, Binance recently added the TRX/USDT pair to its listings, and even when the results have not been immediate, this is expected to contribute with the skyrocket of the token value later this year.

Conclusion

Inevitably, as like other cryptocurrencies, the TRX token is going through a rough time as of now. However, all the foundations for a remarkable upturn are set out there, and as it seems the coin may surpass the $1 mark any soon. So the recommendation is to remain calm, better days are surely coming for Tron (TRX)!

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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 Cocoparisienne via Pixabay

Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS
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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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