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How Tron (TRX) Will Be A Top 6 Coin Again

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In a letter to the Tron Community by Justin Sun a while back, he had indicated that he was aiming for a top 6 finish for Tron (TRX) this year. With less than a few days to the Tron MainNet launch, it is essential to recap on what he had said in the letter and correlate it to the events that will precede the MainNet launch.

In the letter via the Tron Medium page, Justin Sun had this to say about his hopes of TRX gaining much-needed volumes in the crypto-market:

“Expectations for the future are even higher. Our next goal is to become one of the top 6 cryptocurrencies in the world. We have actually achieved top 6 briefly on January 5, 2018 during TRON’s astounding sprint out the gate. In 2018, we will reclaim and secure this title, which will mark TRON’s global status as a mainstream public blockchain and lay a solid foundation for competition with Ethereum.”

Well, the future is indeed here. The Tron MainNet will go live on the 31st of May, allowing the platform to compete with Ethereum in terms of being the protocol of choice for Decentralized applications. The Tron Virtual Machine was launched on the 25th of May and it will allow for developers to migrate from the Ethereum blockchain DApps to the MainNet version of Tron. Current DApps on the Tron network number 9 in total, with Justin indicating also in the letter mentioned above that the number has risen to 20.

As exhibited in the Tron roadmap after the MainNet, the testing of the platform will be performed from the 1st to the 24th of June with the initial Genesis Block being launched on the 25th of June and before the Super Representative elections on the 26th of June. All TRX users are advised to migrate all their tokens to the exchanges that will support migration, before the 24th of June.

In conclusion, the next 4 or so weeks will be an exciting time for the TRX project. For the coin to get to the number 6 slot, its Market Capitalization would have to exceed that currently held by Litecoin (LTC) that stands at $6.87 Billion. This, in turn, would mean that TRX would have to be trading at $0.1044; which is a possibility with the aforementioned events in the month of June.

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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