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This Bold Crypto Exchange Plans On Offering Tron (TRX) Futures Contracts

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Tron
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Many crypto-traders and enthusiasts are only aware of the existence of futures contracts for the prominent coins of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP). BTC futures contracts are offered by firms high up in Wallstreet through the CME Group and CBOE (The Chicago Board Options Exchange). ETH futures contracts are also being considered by the CME and CBOE as well. However, one online trading firm currently offers all 4 futures contracts of BTC, ETH, LTC, and XRP.

It is with this background that the possibility of having Tron (TRX) futures contracts on the Bitmex exchange is a bit exciting for any TRX HODLer or trader.

BitMex (Bitcoin Mercantile Exchange) is a trading platform that offers investors access to the global financial markets using only Bitcoin as its ‘base currency’. Therefore, the TRON futures contracts will be paired against BTC. The exchange made the announcement on the 25th of June via its official blog.

In the announcement, the exchange stated that:

“Due to popular demand, we will be listing the BitMEX TRON / Bitcoin 28 September 2018 futures contract, TRXU18, on or before 26 June 2018 08:30 UTC.”

However, due to the extended systems upgrade by Binance today, 26th June, Bitmex decided to postpone the launch of the new product by adding the following to the first announcement:

“Update: due to the current Binance system downtime, the BitMEX TRXU18 listing will be postponed.  We will post another update before listing.”

Futures contracts are sometimes frowned upon for traders are basically betting in an unknown future. It is therefore viewed as a sort of gambling that could be very profitable as well as a good way of losing a lot of investment capital. Take for example the recent hacks on Coinrail and Bithumb plus the flash crash of Friday, 22nd of June. No one knew that all these events would happen. Anyone who decided to short BTC was a happy trader. Anyone who had bet long on BTC going up was not.

In a nutshell, the planned addition of TRX futures contracts by BitMex means that traders love the digital asset enough to request the exchange to offer the new TRX product. TRX currently has over 1.2 Million HODLers according to the project’s website. The fact that the TRX futures contracts are being offered by a cryptocurrency exchange and not Wallstreet, means that the digital asset might not be subject to major manipulation as was the suspected case with BTC when its futures were offered by Wallstreet back in December.

Anyone willing to trade in the new product by the exchange needs only create an account with Bitmex.

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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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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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