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The Impact of Tron’s Latest Testnet Launch

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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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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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