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Here Is How The Tron (TRX) Token-Burn Will Affect The Price of TRX

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TRON
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In an announcement via the Tron (TRX) Foundation medium page, the team at Tron made it known that they will conduct a coin burn of 1 Billion TRX all at once, to commemorate the exciting event that is The Tron Independence Day. This amount in TRX roughly translates to $50 Million worth of the digital assets.

According to the announcement, this amount might set world records for the highest amount of money or its equivalent, destroyed in human history at one go. The amount of TRX at the beginning of the MainNet launch will be reduced to 99 Billion TRX with the remaining 33,251,807,524 TRX held by the TRON foundation will stay locked until January 1st, 2020.

So how does this affect the price of TRX?

Considering the fact that the Tron Foundation will burn TRX from the amount in its possession, this act only reduces the total supply of TRX and not the circulating supply of the digital asset. When calculating the price of a stock or cryptocurrency, it is the circulating supply that determines the supply and demand dynamics that determine the price of an asset.

This means that the coin burn will not directly affect the price of the digital asset. All it does is guarantee that there is 1 Billion less TRX possessed by the Tron Foundation. Perhaps what might drive the price up, is the guaranteed lockup of the remaining TRX by the Tron Foundation. This will give investors more confidence in the digital asset.

One can remember the market response of the Ripple camp locking up 55 Billion XRP in escrow. This guaranteed that the company would not ‘flood’ the digital asset in the markets. Investors were pleased and the value of XRP went up for a good while until mid-January.

So how else will the price of TRX go up?

As earlier demonstrated by Global Coin report, the increase in the price of TRX will be brought about by a stable and secure MainNet blockchain that will be the choice of the many DApp developers out there. With a solid product, comes the attention to the project and coin. This is a manner similar to how Ethereum managed to climb up the market cap ladder from mid last year to the current number two spot according to coinmarketcap.com.

There is also the transactional TRX coin burn that was highlighted by Justin Sun during the launch of the MainNet on the 31st of May. There will be a burn of 0.1 TRX when a new account on the platform is created and transfers cost 0.001 TRX. This means with time, the circulating supply of TRX will gradually decrease hence pushing the price of the future TRX coin up.

That said, the value of TRX has been affected by the general decline of the cryptocurrency markets. TRX is currently trading at $0.045 and down 6.21% in the last 24 hours. Perhaps as we inch closer to the Independence day that is less than 2 days away, the price of the Token will reflect the excitement of the Tron believers and HODLers.

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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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