The crypto environment has been going through a situation in which almost all of the tokens in existence have been trading in red numbers, mostly. This particular fact has been a reason to cause despair and concern among Tron (TRX) enthusiasts and investors because, as it seems, the dip is just continuing its path (token went down by 2.19% in last 24 hours), and the gain margin is either notably reduced or inexistent; and to say the least, making a profit is one of the main reasons why people decide to put their bets on cryptocurrencies.
In this sense, Tron (TRX) is one of the coins that have been disappointing many people in the cryptosphere lately, a currency that after several announced milestones such as the Main Net launch, and the Super Representative Elections, was expected to return better results than the ones that are on the table. In fact, what enthusiasts have encountered on the token lately is decreasing prices and the loss of its position in the market.
During this week, we have seen the TRX token moving to the 12th position in the charts, and this may be seen as a particular reason to be worried about considering that the coin was expected to get to the top 5 in the mid-term. However, is it really accurate to fall into discouragement in the lights of the present performances? Or do we have reasons to be quiet and hope for the best? Let’s see the main reasons to remain calm while Tron finds its way on the market, right in this post.
Dapps as a price solution
With the launch of the Main Net and the migration process, which by the way was ten times more successful than the one EOS had with its blockchain, one of the most significant possibilities is the dominance of the Dapp market. Tron is actually offering a more appealing repertory of features such as scalability, speed, and low costs, and this is the main reason why it is expected that in long-run, lots of Dapps (Decentralized Apps) will migrate to the Tron blockchain, which of course, will shoot the price to unbelievable heights.
Tron Virtual Machine
Another crucial aspect that may drastically change the prices of Tron is the attraction that the token is representing for the developers of the sector. In fact, this is something Tron has been managing through the creation of its native blockchain, and the near launch of the Tron Virtual Machine project that will happen on July 31st.
The idea of a decentralized internet is now resounding more than ever, and actually, there are solid reasons to believe Tron may contribute heavily in this, a fact that, of course, would represent a huge benefit for the prices of the token. Let’s recall that Justin Sun happened to acquire BitTorrent just recently, the most important peer-to-peer platform on a global scale, and in case this works as expected, the internet might possibly change as we know it.
Unlike other cryptocurrencies of the market, perhaps the ones that continue to be on the top as of now, Tron (TRX) actually has a purpose, and this represents an incredible advantage in the long term. The existence of a token ‘just because’ makes hardly possible to maintain its performance/position in the market in the long-run, and this is something that Tron has definitely covered.
Despite the recent fluctuations of the coin, for many experts, Tron (TRX) is forecasted to be a top 5 crypto in a 5-year timeframe or even less. So despite the current performance what enthusiasts and investors need to keep into account is that the coin has great foundations and definite purpose, and that’s enough reason to expect great things of it.
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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
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- Consumer lack of confidence
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- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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