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Have Tron HODLers Been Left HOLDing A Bag?

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Tron
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The phrase ‘holding the bag’ is defined as the act of someone being put in a situation where they are responsible for something – often in an unfair way – because other people fail or refuse to take full responsibility for it. In the case of the cryptocurrency markets, ‘holding the bag’ can be compared to how some HODLers have been left holding a particular digital asset as the founder plots and executes an exit strategy. One such founder who has been accused of doing so is Litecoin’s (LTC) Charlie Lee when he sold all his LTC in April. The price of the digital asset has plummeted since then. Therefore, it is no surprise that some Tron (TRX) HODLers are wondering if they have also been left holding the bag.

But before we speculate, let us run the numbers a bit and find what we can uncover. The total supply of the Tron (TRX) coin stands at 99 Billion TRX. The circulating supply stands at 65.75 Billion and the difference from the total supply comes to 33.25 Billion TRX. The latter amount is what the Tron Foundation owns and is locked up in 1,000 traceable addresses on the Tron network. You can track the locked up funds on TronScan. They will not be available to the Tron Foundation till 1st January 2020.

Historical Tron Dumps During Major Announcements 

Looking back in time, the Tron project has had a few calendar events that have marked the ongoing progress. The first was the Testnet that was launched on the 31st of March. What then happened on the 30th of March, is that the price of TRX dropped from $0.050 on that day, to $0.030 on the 5th of April: a drop of 40%. Everyone had expected for the digital asset to Moon, but it did not.

The Mainnet was launched on the 31st of May and something similar happened. There was a gradual decline of price from the 21st of May at $0.083, to $0.40 by June 13th: a drop of 52%. Then there was the Genesis Block launch on the 25th of June and TRX dropped from $0.040 on the 30th of June, to $0.017 by August 14th: a drop of 57.5%. This latter event was the Tron Independence Day and such a feat was expected to result in a massive Bull Run of TRX, but still, nothing happened.

Possible explanations

We can all claim that the general crypto atmosphere since March has been one of a bear market, but the accomplishments of the Tron project in 12 months have been like no other. If TRON were a Fortune 500 company, it would have reached the $1 trillion valuation very easily. The project has had acquisitions on a scale only seen on Wallstreet. The Tron Foundation has acquired BitTorrent for $120 Million in cash as well as Blockchain.Org for an undisclosed amount.

The Loopholes 

One question we can all ask, is where did the Tron Foundation and Justin find $120 Million to buy the BitTorrent platform? The Tron ICO was noted as having raised $70 Million when it was completed last September. TRX peaked at $0.30 back in January, leaving the gates open for a few savvy traders to sell off some of their earnings. These traders could have been holding TRX in large numbers and have been slowly offloading to avoid suspicion. Remember the ICO value of one TRX was $0.0019.

Could it be that Whales hold massive Tron volumes as part of the 65.75 Billion in circulation and have been slowly liquidating during hyped events?  

This is the million dollar question that a few crypto enthusiasts have been asking. Perhaps there are some major whales caching out through calculated selling during strategic Tron events. But then again, this type of thinking is pure speculation. No evidence of Whales has come up. TRX could simply be suffering from continual FUD and very bad market conditions.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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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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Altcoins

Top 3 Coins to Buy Before They Go Big

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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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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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