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Have Tron HODLers Been Left HOLDing A Bag? - Global Coin Report
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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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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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