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Why Tron (TRX) price still stagnates after several weeks of good news?

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Tron just celebrated its first birthday (as well as Justin Sun‘s). It’s been a momentous year for the project and the last six weeks have been even more spectacular with lots of completed milestones. Tron became independent from Ethereum by releasing its new Main Net, which was a success in full.

All the available reviews for the new network say that the features, speed, and scalability are as good as expected. Then the old ECR-20 Tronix tokens became independent too. After those events, Tron bought BitTorrent and released its new virtual machine. 

Rumors are still in the air about a possible partnership between Tron (TRX) and Alibaba, and there’s even a new rumor about Twitter after some officials from the microblogging site were known to visit Tron’s offices to talk with Mr. Justin Sun.

Finally, the “secret” project was announced among a lot of anticipation. It’s called Project Atlas, and it’s a way to integrate BitTorrent with the Tron network. The idea is to use the Tron network to improve BitTorrent’s performance and to find new news to incentivize BitTorrent seeders so that they seed their files for longer times thus enhancing the network’s usefulness.

So it’s all been great news and even hype for Tron, yet the digital asset associated with the project (TRX) is still not performing as the price has remained stagnant. Why?

There are several reasons for the coin’s current behavior according to different neutral observers and other members of the crypto community, let’s review them.

It’s imperative to realize that there’s nothing really wrong with Tron’s current performance in the market. While it’s certainly not rising quickly in price, it is increasing indeed, and the thing to keep in mind is that the whole year has been bearish for the almost all cryptocurrencies. So slow as the growth is, the fact remains that most coins are not growing even slowly but losing ground.

Another piece of the puzzle is, just, that Tron (TRX) is still a very young project. It’s been around for a year only, and the new Main Net is not even two months old.

There is no doubt that the Main Net is every bit as good as Mr. Justin Sun promised it would be, but it’s going to take some time for developers to create enough decentralized apps using the Tron network so that those apps bring new Tron users around, thus creating demand for the token. 

Another consequence of Tron’s youth is that it’s still not very widely adopted as a cryptocurrency. This is crucial. Adoption means usefulness, the more users any cryptocurrency has in real life, the more problems a coin can help to solve, the more demand there is for it, and it’s that demand that can bring prices up.

The adoption process needs a lot of work and takes a lot of time, even Bitcoin, king of all tokens, has had a tough time to achieve partnerships that help it find its way to new users. The good news in this regard is that Tron community members are acutely aware of this, so they are working hard to find new uses for the token, and, they are using it themselves as well.

However slowly Tron’s currency’s price (and demand) is growing, the project remains among the most ambitious, relevant and reliable in the cryptosphere. It has a community with very engaged and capable people, and the leadership has delivered on its promises every time. The challenges as mentioned earlier that have to do with time will also disappear because of time.

Too many observers are scratching their heads over TRX’s current performance, but the Tron project is still viable. New apps, new users, the integration with BitTorrent, wider adoption will thrust Tron forward in the long-term. If you are holding any TRX currently, the wisest move would be to keep it, not to sell out of fear or impatience.

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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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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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