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Here is Why Binance is Key to Tron (TRX) Getting to $1

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Tron
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Tron (TRX) HODLers who are also users of the popular cryptocurrency exchange of Binance have been waiting patiently for the resumption of deposits and withdrawals of TRX on the platform ever since the token migration officially began on the 21st of June this year. Binance and the Tron Foundation have offered apologies for the delay and further stating that regular services on the exchange will resume sometime this week.

In the announcement via their medium page, the Tron Foundation stated that:

“The technical teams on both sides are working closely to push forward the migration. Deposit and withdrawal services are expected to be provided within the next week.

We would like to extend our sincerest apologies for keeping you waiting, but we are also kindly asking all TRON supporters and Binance users to remain patient. We are continuously working towards building a global ecosystem. Thank you for your support and understanding.”

So why is Binance key in breaking the current TRX price decline?

To begin, the value of TRX has plummeted since the Tron Independence Day. TRX is currently valued at $0.033 and down 9.33% in the last 24 hours (at the moment of writing this). TRX has also dropped from the number 9 spot on coinmarketcap.com to the number 12 slot. IOTA and NEO have zoomed passed TRX.

The TRX trading on Binance represents a total of approximately 20% of all the TRX traded globally. The number one spot goes to BitForex.com with the exchange handling 33% of all the TRX traded worldwide. BitForex has resumed TRX withdrawals and deposits, but the market response is still minimal. The extra liquidity of TRX brought about by Binance resuming deposits and withdrawals, will add to the demand of the coin in the crypto-verse. This means that with full functionality, Binance will assist TRX in regaining its number 9 spot on coinmarketcap.com and even facilitating at top 5 finish by the end of 2018.

A second reason why Binance is key to breaking the current TRX price decline is that the exchange is currently handling the highest daily trade volume of any exchange. Binance is handling a total of $1.124 Billion in trade volume at the moment of writing this. This means TRX will get more trade action once deposits and withdrawals resume. Binance has also instituted a TRX trading competition worth 10 Million in TRX to entice more TRX trading.

Lastly, the solid partnership between Binance and the Tron Foundation has resulted in the former guaranteeing permanent TRX token migration until the last TRX token is converted. This means once again, Binance is the focal point of TRX token migration after the Tron Independence Day.

Summing it all up, the crypto exchange of Binance will play a big role in TRX trading activities since the exchange announced it will support permanent token migration for the foreseeable future. With the resumption of TRX deposits and withdrawals sometime this week, the price of our favorite coin of TRX will no longer be as low as it is right now. Another way of viewing this is seeing the current low TRX value as an opportunity to get some more TRX in the crypto markets.

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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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Aluna.Social
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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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