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

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Tron TRX
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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

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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