Blogs
NEO Overtakes Tron (TRX) On CoinMarketCap
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
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. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
-
Blogs6 years agoBitcoin Cash (BCH) and Ripple (XRP) Headed to Expansion with Revolut
-
Blogs6 years agoAnother Bank Joins Ripple! The first ever bank in Oman to be a part of RippleNet
-
Blogs6 years agoStandard Chartered Plans on Extending the Use of Ripple (XRP) Network
-
Blogs6 years agoElectroneum (ETN) New Mining App Set For Mass Adoption
-
Don't Miss6 years agoRipple’s five new partnerships are mouthwatering
-
Blogs6 years agoCryptocurrency is paving new avenues for content creators to explore
-
Blogs6 years agoEthereum Classic (ETC) Is Aiming To Align With Ethereum (ETH)
-
Blogs6 years agoLitecoin (LTC) Becomes Compatible with Blocknet while Getting Listed on Gemini Exchange
