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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.

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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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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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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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