Tron (TRX) hasn’t had the best trend in the past few weeks, but it’s currently on the path for a bull run in the coming weeks. Even at the current price of Tron, it is safe to say that this is the best time to invest in this cryptocurrency.
Tron is approaching a bullish run as its value increased more than 6.5% in last 24 hours, currently surpassing the 55-day and 100-day resistant levels. The fact that the cryptocurrency surpassed the significant resistant levels is a sign that its price value will increase. The breakout from the major resistance levels serves as the fundamentals for the cryptocurrency in the coming weeks in which it could surpass $0.10 price value. It is important to note that once the cryptocurrency upsurges and maintains its momentum, it could be as high as $1 in the crypto market.
Tron’s recent migration from Ethereum blockchain went successful, and its mainnet launch has been tremendous so far unlike other cryptos such as EOS. Although Tron’s current path to a bullish run is influenced by the sudden rise of Bitcoin (BTC) earlier last week – even at this, Tron has a solid foundation to maintain the momentum due to its mainnet structure.
The fact that Tron’s recent migration from Ethereum blockchain had been successful, lots of developers are attracted to Tron’s blockchain network. However, the increase in the number of developers in the blockchain network is undoubtedly an advantage.
Furthermore, Tron has recently been adopted by companies such as PornHub, Brazzers, and Trafficjunky. The rate of adoption of Tron’s blockchain will play a significant role in its bullish run. Another major company, Posteezy, recently adopted Tron as a medium of payment for its esteemed customers.
And yes, the recent BitTorrent acquisition by Tron’s CEO, Justin Sun is worth noting too. Additionally, Tron also caught the eye of gaming industries such as Natakugames and game.com; this will give Tron a fast growth in the coming weeks. If the adoption of Tron by major companies continues, it will foster a long-term value.
Another factor to Tron’s bullish run in the coming weeks is the launch of the Tron Virtual Machine (TvM) on the 31st of July. Tron’s TVM is compatible with Ethereum programming language; with it, Ethereum developers can make use of Tron’s blockchain by merely migrating their projects into it.
Ethereum developers can migrate to Tron’s blockchain network due to the fact that it is efficient and superior when it comes to transaction speeds. Also, Tron’s blockchain network is scalable and cost-effective. The migration of Ethereum developers will foster and maintain Tron’s bullish move.
Tron is a futuristic blockchain network, and despite being on the lows in the last few weeks, it has partnered with ‘big’ companies. Also, most companies are currently adopting Tron’s blockchain network for transactions because it is easier and faster.
Even at Tron’s current price value – with its slight increase this week, it is an excellent time to invest in Tron. The coin will maintain the momentum of its current price, and it is likely that it will increase. Tron sits on a long-term support level and will not trade below $0.05 anymore shortly.
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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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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
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In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
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These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
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