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NEO Overtakes Tron (TRX) On CoinMarketCap

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NEO
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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.

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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

Analyzing The Best-Performing Cryptos

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Over the nebulous first half of this year, some tiny cryptos were able to grow by more than 1000% and reach the desired top 100, while others that were already in the top 50 bastions simply zeroed. What factors led them to perform like this? Luck, external factors or well-made decisions?

First of all, it is important to clarify that it would be unwise to analyze them disregarding the market context (crypto and non-crypto) of the period, so we’re using a holistic approach.
In our timeframe, considering the traditional market cycle of emotions, in contrast to the standard chart below, the euphoria quadrant had a much larger peak and a much shorter duration, starting in the middle of 2017 and ending at the beginning of 2018, while we were stuck in the period of “excitement” since, maybe, 2015. The emotions in red passed in a rush and at the end of July, we were already in deep “despondency”.

Source: https://russellinvestments.com/ca/insights/the-market-cycle-of-emotions

Besides to the fact that the market completed half of the cycle in less than half a year, some very relevant things, besides the usual phenomena expected of an investment market, happened during this period. In addition to the hype the period enjoyed and the fact that bad, inexperienced investors were frantically joining the crypto market, we…

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Is Tether (USDT) really a stable coin?

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Tether
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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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TRON Partnership Involves Cloud Computing

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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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