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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.

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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

Altcoins

DGB Price Prediction For 2018 and Beyond

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DGB price prediction
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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Altcoins

Why ZCash (ZEC) Is Heading to $10k

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ZCash
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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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