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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Hodium
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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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