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Tron independence celebration will see 1 billion TRX coins burn

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Tron TRX

Tron (TRX) is in the eye of the storm these days as the date when the token will finally become entirely independent crypto is right around the corner, and additionally, this event will be followed by the Super Representative elections in which an autonomous community will be created. As it seems, going unnoticed is something Tron does not consider, and this time it has prepared a new milestone that for sure will be acknowledged by everyone, especially by token holders.

As the day comes closer, more details are shared with the community about what will be the next steps for the coin, and this is precisely what Justin Sun, CEO of the company, shared on his Twitter account yesterday by mentioning that the company would deploy a coin burn as a celebration for the long-awaited independence.

In the cryptosphere, a coin burn is an action of forwarding a number of cryptocurrencies to a particular public address that possesses an unattainable private key, which of course, makes impossible the expenditure of the coins sent to that direction.

This method is employed for generating new tokens, also known as “proof of burn,” for benefitting token holders, or for destroying tokens that were not sold. In the case of Tron, as the message implies it will be used as a rewarding activity for celebrating the independence day.

Sun said,

“To commemorate this exciting moment, TRON Foundation will conduct a burn of 1,000,000,000 TRX all at once, which is worth 50 million USD according to today’s market price.”

By eliminating 1,000,000,000 TRX tokens, Tron will create a deficit in the supply of the coin, and this as a consequence will create a more significant demand, which of course, will have a repercussion on the value of the token, so those who hold TRX will see a substantial benefit in the short term.

Tron is forecasted to perform incredibly after its independence in a couple of days now, and two days later it may get even higher as the Super Representative elections occur. All of these events have indeed raised a lot of expectations on a community that is eager, now more than ever, to know what the next steps are for the coin, and this is something Justin Sun seems to have heard as he shared as well the details of some of the upcoming moves.

Like this, the community was also informed that the Mainnet to be fully launched in 3 days is going to be integrated by 4 phases the company has defined as:

  1. Preparation
  2. Guardian Phase
  3. Genesis Phase
  4. Constitutional Phase

Conclusion

Great things are coming for Tron (TRX) as its migration phase concludes, a process that is currently being supported by about 40 exchanges from all around the world. Tron, without a doubt, will see incredible traction after decoupling from Ethereum, so stay tuned (and hold tight), the coin is about to skyrocket.

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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.

Image courtesy of Pxhere.com

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A Guide to Exploring the Singaporean ETF market

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Singapore’s Exchange Traded Fund (ETF) market has grown, offering investors diverse investment opportunities and access to different asset classes. As the market evolves, investors must navigate these uncharted waters with a clear understanding of Singapore’s ETF landscape. This article explores the trends, challenges and strategies for navigating the Singapore ETF market. To start investing in ETFs, you can visit Saxo Capital Markets PTE.

The Singaporean ETF Market: Exponential Growth

The Singapore ETF market has seen significant growth in recent years, with an increasing number of ETFs covering a wide range of asset classes and holders. different investment topics. 

One of the notable trends in the Singapore ETF market is the growing diversity of available options. Investors can now choose from ETFs that track domestic and international stock indexes, bonds, commodities, and specialist sectors or themes. This diverse range of ETFs allows investors to create comprehensive portfolios tailored to their investment goals.

The growth of the ETF market in Singapore is also due to growing investor demand for low-cost, transparent, and accessible investment vehicles. ETFs offer benefits such as intraday liquidity, real-time pricing, and the ability to trade on exchanges. These characteristics have made ETFs attractive to retail and institutional investors who want exposure to different asset classes.

Regulatory Landscape and Investor Protection

The Monetary Authority of Singapore (MAS) is the…

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Property Loans for Foreigners in Singapore That You Must Know About

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property loans for foreigners in Singapore

Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
  • When you are applying for a loan with a Housing…
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CoinField Launches Sologenic Initial Exchange Offering

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Sologenic

CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited to KYC and fiat ON & OFF ramping,” said CoinField’s CEO…

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