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How Tron (TRX) future looks after locking 33.25 billion ERC20 tokens?

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Tron TRX

The latest from Tron Foundation is the completion of its token migration and the official launch of the June 25th Odyssey 2.0 mainnet. The Odyssey v 2.0 launch was supervised by the Tron Independent Group (TIG) who made the process a success.

And in keeping with safety precautions, Tron foundation saw it best to lock all the virtual assets in tune with the changes Tron (TRX) was undergoing. Tron now stands on good ground with the launch of the genesis block complete. The Tron community is now waiting and anticipating the results of the expected election exercise of its Super Representatives.

During the token migration, one of the highlights of the event was the burning of 1 billion ERC20 TRX affiliated coins with an estimated valuation of more than 50 million US dollars. It stands to be the most substantial coin burn in cryptocurrency brief history.

As a sign of celebration on their part, Tron foundation had indicated days before the ‘Independence Day‘ migration that they would be destroying 1 billion digital assets as a sign of celebration and freedom from their frustrating master, the Ethereum blockchain. And true to their word they did precisely that on the very same day they went live as an independent blockchain.

A day after the first block on Tron TRX’s platform was produced, Tron Foundation published an article through their official Medium handle stating Tron’s blockchain browser had revealed that its addresses had 99 billion TRX. Confirming that indeed 1 billion digital assets were burned which means the current circulation supply of over 65 billion digital coins leaves about 33 billion digital assets to be held by Tron Foundation.

The Tron TRX team has already shared indications that the digital coins will remain locked up until January 2020.

Many on hearing about the coin burn view it as an inhuman act towards your former master and towards a valuable asset; a coin burn means the coin is removed from the total supply and done away. It’s like the end of the coin’s lifespan. In the Tron situation, the Foundation could have most likely sent the old TRX tokens to a restricted, protected, dead wallet that’s unreachable to the general public.

Due to the nature of the ‘dead wallet’ the digital assets are made irretrievable, and despite the prices of the digital assets destroyed, Tron (TRX) seemingly does not see it as having a profound effect on its price and market valuation as of now though.

What is next for Tron (TRX)?

At the moment, Justin Sun and team seem to be making all the right moves. But despite making long strides, the journey is still long for Tron just like any other virtual currency. The hard work still lies ahead.

The future of Tron and its currency, Tronix looks bright. A joy for investors and holders who will stay loyal and hold through the current dismal performance and low prices (yeah, the token is also picking up alongside other cryptos in last 48 hours or so already). All odds seem to be on the cryptocurrency’s side already, let’s wait and see how Tron shapes with the time.

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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.

Image courtesy of Pxhere.com

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

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

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Aluna.Social

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, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

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 like Bitcoin and Dash, to help protect their assets and hard-earned…

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