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This Very Near Term Catalyst Could Send TRON (TRX) Soaring

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Back at the start of December last year, TRON (TRX) was trading for around one-fifth of a cent. By January 5, 2018, the coin had risen to $0.25, gaining more than12,400% I a matter of weeks and securing its position on every crypto watcher’s radar heading into the new year.

Since then, of course, the wider cryptocurrency space has suffered a steep correction and Tron is no exception. Indeed, given the coin’s incredible run heading into the close of last year, its correction has been arguably a lot more severe than was the case for many of its altcoin counterparts.

TRX Hourly Chart

TRX Hourly Chart

Right now, Tron is priced at $0.06 a piece and commands a market cap of a little over $4 billion. Daily volume is down (to somewhere around $315 million, which is nothing to scoff at, but it’s a fraction of early January’s $4 billion twenty-four-hour volume) and sentiment seems decidedly weak.

We think, however, that current conditions are far from representative of this coin’s longer-term potential and that, at current prices, there’s an incredible opportunity to jump in and pick up some cheap coins in anticipation of a turnaround.

What makes us say this?

When this coin started to run, it was a combination of factors that drove the appreciation, some fundamental and some technical. A big part of it, however, was FOMO. That is, Fear of Missing Out. Market participants had seen other coins take off from the sub-penny level and, in response, were buying into this coin in anticipation of a similar sort of appreciation.

And these participants got what they were looking for. The coin ran, and ran considerably, and anyone that jumped in and out at the right time pulled a handsome profit from the market.

Right now, however, things are down, and this coin once again looks attractive as a speculative penny play.

There’s a psychological significance associated with picking up a thousand coins, or ten thousand coins, which (for the vast majority of people) is out of reach when it comes to the more established cryptos – bitcoin, Ethereum, etc. This psychological significance is arguably invalid (since you can pick up fractions of coins) but it exists nonetheless.

Based on this, people are looking for coins that they can afford lots of and, of these coins, there are probably three or for that are most attractive and, at the same time, viable as potential long-term gainers.

For us, Tron is at the top of the pack.

And we’re not just looking at long-term potential as buoyed by near-term psychological significance here.

There’s a key catalyst just around the corner – one that could serve to get the coin moving on its announcement.

Take a look at this tweet:

 


This is from Justin Sun, founder of Tron, published on January 25, 2018.

Right now, the only major USD listing of TRX is on Bitfinex. This limits access and, in turn, liquidity. Both of these things create a demand bottleneck. If the latest exchange listing is a major one (say, Bittrex or alternative), we could see a flood of TRX buy volume rush into the markets and, in turn, a spike in volume and coin price.

If this happens, the FOMO at current levels will amplify, compounding the inflow of speculative bullish volume and pushing the coin higher.

We are waiting patiently for the news…

We will be updating our subscribers as soon as we know more. For the latest on TRX, sign up below!

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.


Image courtesy of Tron

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Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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