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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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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

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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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.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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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:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 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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