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The Impact of Tron’s Latest Testnet Launch




Most cryptocurrencies which are backed by a strong development team, a growing community and a number of interested investors are subject to regular updates, as developers try to address past issues and fix them. Not only that, cryptocurrencies can release network trials called Testnets, where developers and other participants can check the system to see if everything is moving smoothly. Such is the case for the Tron Foundation, which launched its testnet on March 31st, as indicated by Tron’s CEO, Justin Sun.

About the Testnet:

Tron, which currently ranks 14th at the time of writing, has experienced remarkable success in recent months since its $ 70 million Dollar ICO in 2017, with its value reaching a peak in early January. However, as the Cryptocurrency market, in general, has experienced an overall slump, Tron was no exception. Currently Tron is valued at $0.031892 USD with a formidable market cap of $2,096,854,504 USD.

The testnet launch was announced via periscope and is considered one crucial steps in the team’s roadmap. However, the entire journey has not come without some hiccups, as a large part of crypto investors have pointed out the lack of progress and the general slow movement of the project, contributing to some degree of negative market sentiment against it. In fact, when the overall market began correcting, Tron’s investors started demanding answers which further dragged the price further down due to panic. Tron’s testnet is supposed to be a step in the right direction for the token, as the price was expected to slowly recover following the announcement. The CEO also confirmed plans for a coin-burn event, where that they would regularly burn TRX tokens. This comes as a sigh of relief to investors since the TRON organization holds over 34 billion TRX tokens which are highly valued.

The Outcome:

Contrary to what crypto-analysts and the Tron team itself predicted, prices for Tron continued to drop by a staggering 18 % (approx.). This can be attributed to the overall effect of the Cryptocurrency market, with its price slated to drop even further in the coming days. Tron’s market cap has also been seriously affected, falling below the $2 billion mark.

The testnet announcement, which was supposed to have a positive effect on the community as well as Tron’s price, did not pan out that way. In fact, the project’s market cap has dropped by nearly $900 million as of 02/04/2018. Cryptanalysts believe that Tron’s decreasing price levels may be a direct symptom of the on-going struggles in both the Bitcoin and Ethereum market. It experienced a dip in excess of 12% against both Ethereum and Bitcoin, the two pivotal cryptocurrencies that indirectly “run” the market.

Future Prospects:

As of now, Tron’s market situation does not look good at all, even though the position is still recoverable.  Many investors are exiting the Tron market, citing the overall plunge of Bitcoin and Ethereum markets are the main reason. Such is the case for a lot of altcoins including Monero, Litecoin, Dogecoin, Reddcoin etc.

On the plus side, Tron’s performances in the last 24 hours in various crypto-exchanges such as Binance, Upbit, Huobi, and Bittrex are positive signs for the future. However, these developments will not matter if there isn’t an influx of fresh capital to the project.  That being said, Tron’s price is expected to decline in the coming months, along with the Cryptocurrency market in general. However, if past movements and trends are to be believed, the market, in general, may bounce back, bolstering the values of exciting altcoin projects such as Tron’s.

We will be updating our subscribers as soon as we know more. For the latest on TRX, sign up below!

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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), 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 ( ), 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…

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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…

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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 ( 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…

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