Connect with us

Blogs

NEO Overtakes Tron (TRX) On CoinMarketCap

Published

on

NEO
READ LATER - DOWNLOAD THIS POST AS PDF

The last several days have finally seen some positive development for many cryptocurrencies, with their prices spiking up seriously for the first time in weeks, or even months. Such a change has had various effects on the market and has even managed to change places that some cryptos are having on the ranking lists – mainly TRON (TRX) and NEO.

NEO and TRON

As many of you already know, NEO is a cryptocurrency that has been around for a while now. It was created on a blockchain that was designed to build a scalable network for smart contracts, dApps, and similar projects. Originally, it was called AntShares but has changed its name to NEO in 2017, with the intention to have a new beginning.

This is a cryptocurrency with a lot of potentials, and even China recognizes its might. This is important to note, considering that China is not really crypto-friendly most of the time. Still, they support NEO, which gives NEO an opportunity to take the lead in this country’s market and establishes dominance.

TRON (TRX), on the other hand, is crypto dedicated to improving the digital entertainment. as well as to serve as a content distribution platform. It is really young crypto, founded by Justin Sun in September 2017. Ever since its creation, it seems that TRON has been making one win after another. It entered countless partnerships, launched a TestNet, entered more partnerships, and then even launched its MainNet just a little over than a month ago.

After a successful launch, it started the token migration from Ethereum’s ERC-20 tokens to its own TRX coins. As part of the Independence Day celebration, TRON even decided to burn 50 billion TRX tokens that are still on Ethereum’s blockchain.

NEO takes over the 10th position

Despite what seems like an endless stream of good decisions, constant marketing by Justin Sun, and even the purchase of BitTorrent, TRON’s value is still pretty low, and the crypto has even slipped on the 12th spot as per CoinMarketCap.

The interesting thing is that NEO has managed to rise above it on the list, and it currently sits at the 10th position. This has come as a surprise to many, despite the fact that most crypto enthusiasts often claim that they would go for NEO before TRON.

TRON and NEO do not really share a lot of similarities. Their goals are completely different, and both cryptos are in their own supposed rivalries with other coins. Their prices are largely different, with NEO being valued at $41.76 by the CoinMarketCap, and TRON’s price being $0.039089 per coin.

Their market caps are about the same, with $2.5 billion for TRX, and $2.7 billion for NEO. Obviously, according to these stats at least, the coins are at the similar place. However, it would seem that NEO has started gaining unexpected popularity. Its already enormous community has started rising even more, and which means more exposure when it comes to the new investors.

When it comes to TRON, many believe that its numerous partnerships are failing to help this crypto benefit as much as it could. They also say that nothing is really happening with TRX, outside of the partnership tweets, and the current development might be an indication that there is something to it. After all, TRON should be in a much better place right now, with everything it achieved in the latest period. Instead, it keeps slipping.

Right now, it is not certain what will happen with either TRON or NEO. The prices of both the coins have seen a lot of improvement in the last few days, and it would seem that the crypto market is in the right mood, at least for the time being. Whether this will continue or not, remains to be seen. Also, if the prices drop again, will NEO do so as well? Maybe it will, which would allow TRON to reclaim its old position. We can only speculate at this point, but one thing is certain – in the right conditions, NEO is definitely thriving and exceeding TRX with ease, despite its numerous recent wins.

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite