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.
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 Maxpixel.net
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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 trading…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
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 been…