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Tron (TRX) joins forces with first decentralized hybrid exchange JOYSO

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Tron

The world’s first decentralized hybrid exchange JOYSO has now incorporated Tron network leading to a decentralized blockchain setting that is more maintainable.

Undoubtedly, it is good news as far as the world of digital currency is concerned. Tron is going to collaborate with JOYSON to bring about a more maintainable decentralized hybrid exchange in the market.

JOYSO has been ranked 11th in the development of decentralized Hybrid exchange hence there is some great hope for Tron (TRX). The news brings some anticipation for the Tron users as it recently has been seen dropping consistently in its price index during 2018.

The collaboration will bring about a set up for entirely all decentralized applications also known as (dApps) on Tron platform for increasing the sustainability of the blockchain in the market.

JOYSO is founded by Tom Soong who is a hybrid decentralized exchange system for digital currency having the benefit of reducing the risk involved in the hacking of the system.

The system also offers the most cost-effective platform to its users. The platform was recently launched in May 2018. To enable one understands how it works JOYSO gives on Chain payments and off Chain matching for trade exchanges at the snap of the hand.

Besides maintaining the decentralized trade exchange platform, it also has a plus in the implementation of the enhancement of technology in blockchain engineering to meet the expectations of the clients hence more effective and efficient system.

That is due to the implementation of a suitable architecture that significantly decreases gas fee in the process of trade. Additionally, apart from enabling the free listing of any ERC20 tokens, it is also more secure and allows the users to have their accounts with no registration providing anonymity while enabling them trade in the market. These benefits of new Tron partner altogether, in turn, give users a 50% discount in the processing fee and creation of value in the digital currency environment.

Earlier on JOYSON implemented and accomplished the eagerly awaited NAS- JOYSON which is a decentralized exchange platform on the Nebulus chain line. With the recent partnership with Tron (TRX), JOYSON will be implementing the system under off chain matching and on chain payment where the users of the system will have the opportunity to exchange the tokens directly using their digital wallets.

On the other hand, Tron blockchain system has given its users the perfect platform for token issuers creating affordability to the clients and user-friendly operation. This implementation will, in turn, attract more users to the Tron market and will enhance its drifting decline in the token demand. JASON CTO Will Hsieh says,

“With all the technological capability and the known name for being the best in this sector, JOYSON can enable a simple, safe and efficient solution for the trade of crypto on a variety of blockchain hence creating a more maintainable infrastructure”

Also, just yesterday, Tron elected another Super Representative after more than 90 million votes in favor of new SR. The cryptocurrency has also been talked about more than anyone else on social media, even Bitcoin.

With many significant developments in the market, we are yet to see Tron rejoicing over the hard work done by its members to make the partnership happen and be implemented. This significant move could make the Tron token ecosystem value to increase substantially even though alongside other cryptocurrencies TRX holds a known continuous pattern of decrease in price since the beginning of the year.

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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 Rawpixel/Pixabay

Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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