FREE BITCOIN

Gamble as you want,

your wife will never find out!

First p2p bitcoin betting platform!

Guess Bitcoin’s trend and win!

Clever enough to guess

Bitcoin price?

Here is Why Binance is Key to Tron (TRX) Getting to $1 - Global Coin Report
Connect with us

Blogs

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

Published

on

Tron
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Blogs

Top 3 Crypto Trends That Might Go Big in Q2 2019

Published

on

crypto trends
READ LATER - DOWNLOAD THIS POST AS PDF

So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

Continue Reading

Blogs

The Crypto Space Once Again Divided Over Bitcoin SV

Published

on

Bitcoin SV
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

Continue Reading

Blogs

Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

Continue Reading

Elite