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Justin Sun Bullish On TRX and BTT

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While TRON (TRX) managed to become one of the most popular projects in the crypto history, the coin itself has been in and out of the list of 10 largest cryptos by market cap several times by now. Recently, it got pushed out of the list once again, although not very far. After briefly holding the 10th spot, it got replaced by Cardano (ADA) which is, similarly to TRON, yet another challenger to Ethereum.

Meanwhile, TRON’s founder and CEO, Justin Sun, appears not to be worried about the current situation. In fact, he recently stated that he believes TRON will climb back up among the top 10 coins within a month. However, he gave another prediction, and this one appears to be quite bold.

Justin Sun’s TRX and BTT predictions

According to Sun, another cryptocurrency that recently joined the TRON ecosystem, BitTorrent (BTT), will soon see a massive surge which will bring it among the top 30 coins. Sun predicts that this will happen at some point during Q2 of this year.

Of course, Sun’s bullishness when it comes to TRON, and now BTT, is nothing new. The popular crypto entrepreneur has always known how to use current events, as well as his influence in the community in order to boost coins’ popularity and exposure. In addition, BTT has managed to climb quite high, considering that it is less than half a year old, being launched on January 28th.

At the moment the 30th largest cryptocurrency by market cap is Decred (DCR), with a market cap of $255.42 million. BitTorrent token, however, sits at the 50th spot with a market cap of $136.48 million. The coin would, therefore, need to nearly double its market cap in order to rise through the ranks.

To do so, BTT would need to see massive demand in the next few months. The coin does have a use case, as it serves as an incentive for torrent users to upload content on the BitTorrent network. Meanwhile, those downloading content can use the coin to achieve better download speeds. Right now, the token only functions with BitTorrent’s native client, but it is important to remember that this is a protocol, meaning that anyone can develop their own client, provided that they have the knowledge.

The main question is whether or not these predictions can actually come true? In order for it to happen, both coins will need to see a massive surge in demand. While TRON does seem to come up with a plethora of new dApps, most of which are gambling-related, which seemingly boosts its volume and usage — can the same be said for BTT?

Can BTT rise through the ranks?

BitTorrent has, is, and likely always will be used for piracy, and BTT now allows users to make a profit of it. While this is frowned upon at best, and usually fully illegal, the questionable morality is not the only thing stopping people from rushing towards BitTorrent and BTT. After all, there are countless cheap streaming services, such as Netflix or Spotify, not to mention free outlets such as YouTube.

There are ways for creators to earn money by offering or approaching content, without having to risk getting involved in legal issues by downloading and uploading copyrighted materials. Of course, trying to predict the future of any cryptocurrency is impossible, and speculation at best. No one managed to predict that cryptos will crash by over 80% in 2018, nor that the bear market would last for an entire year.

However, high volatility and unpredictable nature of cryptos allow for anything to happen so Sun’s prediction may come true after all. Additionally, there is always a possibility that Sun knows something that the rest of the community does not. Perhaps something new is coming, and it will allow both cryptos to surge up and beat the competition. As things are now, it is much easier for TRX to return to the top 10 list than for BTT to climb up for 20+ ranks. As for the prices, 1 TRX is almost enough to buy 40 BTT, meaning that the coin would have to see a major price boost in order to reach the top 30.

For now, there are more questions than answers, which is often the case with crypto, and all that remains is wait and see whether Sun was right or not.

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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

CoinFlip Scores Big with BRD Wallet Partnership

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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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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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