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Monero (XMR) goes stable as fees go down

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Monero
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Monero’s coin is called XMR, in case you didn’t know. The currency’s value has flat-lined over the last week which is not so surprising if you take into account that even Bitcoin has become stable (which is a plus for traditional investors) so it’s not bad news.

This comes off the back of Monero’s new network update, called “Bulletproofs” which was deployed about a week ago.

XMR has been untypically stable over the last couple of days. As we write this article the XMR/USD rate is at $103.64, so it’s at its peak, Over the last week it’s been fluctuating between 102.22 and 109.30 which means it’s behaving as a stable currency that is also rising in value. That is very rare in the current market.

Monero‘s value in terms of market capitalization is 1.7 billion. That means it’s tenth in terms of market capitalization, which is no mean feat for a coin that doesn’t get the limelight that Bitcoin, Tron, XRP or Litecoin get all the time.

Last Monday the token’s trade volume went over $14 million, mainly carried out at Bithumb, the Sout Korean exchange, which is no surprise as this is a country in which there is a lot of enthusiasm for the cryptosphere.

Monero (XMR) Transaction Costs

Monero’s most recent hard fork happened on Oct 18, one week ago. This update has given Monero’s blockchain a huge advantage in terms of cost as transactions fees have become lower, almost insignificant. As we write this, Monero’s users are paying 2 cents per transaction, which is 97% lower as compared before Bulletproofs was implemented.

This savings in cost are due to the shrinking of cryptographic proofs and data requirements required to perform every single transaction.

The new fork is officially called Monero 0.13 Beryllium Bullet and it’s not only quicker and cheaper. It’s also safer. If you’re the kind of guy who likes rather useless but interesting data, the new fork was implemented from block 1685555 and the Bulletproofs technology starts from block number 1686275.

The new Monero’s blockchain improves its credibility and it makes it the main project in the world that aims to protect users’ privacy in the market as they work against the trend towards centralization that’s been so criticized in so many other blockchain networks. It’s because the new protocol is designed not to allow ASIC miners to take control over the whole network (as it’s feared it could happen with Bitcoin, which is more than 50% mined in China).

Miners are already reporting that the new protocol makes mining quicker, easier and safer. This gives smaller, more average enthusiasts, the chance to become miners and get some profits from this activity.

So Monero is moving forward and making things easier at a time in which other projects such as Ethereum are making things harder and more expensive for their own communities. This shows the project’s leadership has perspective and knows where it wants to go. They have learned how to adapt to the market instead of expecting the market to adapt to them (think Ethereum, Bitcoin).

Monero may not be getting the limelight. But don’t ignore it. If they keep moving forward this way, they could outdo many famous blockchains.

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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 Myriams-Fotos/Pixabay

Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Encrypgen
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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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Tron
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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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