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How Tron’s new Mainnet is boosting mass TRX adoption already

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Tron TRX
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Before I start explaining how Tron (TRX) Mainnet, Odyssey, is enhancing the chances of Tron adoption already, I need to explain some crucial thoughts with you. That’s, the whole cryptocurrency experience is still in its initial stages. Take fiat currencies as an example: the US Dollar or the Euro do not need a fan base. Lots of people use them because they are accepted and considered to be stable currencies by everybody in the world. That’s because they are very well established and backed by several governments in the world and by users as a default.

Crypto coins are different. No government backs them up, and the general public is either ignorant on the subject or distrustful, and no cryptocurrency in the cryptosphere so far (not even Bitcoin) is so well established. That means that every digital asset needs a user base that makes it relevant. Also, the more a coin is used, the more its demand increases thus performing better in trades and exchanges.

In other words, every crypto coin’s success starts with its users and community members buying tokens and using them for digital transactions. If this doesn’t happen, that project or currency can never take off. That’s why it’s been quite impressive to see how Tron’s Tronix (TRX) fans and believers have been at the forefront in letting the world know that Tron’s new Main Net and new autonomous coins have turned some very high expectations into reality. At this point, Tron’s network is faster and cheaper than any other (except Ripplenet and XRP) so it seems that Justin Sun is delivering on the very bold promises he made before the launch.

Justin Sun himself was proud to retweet something by a user called @Kev_TRX_4_Life who wanted to share with the world how quickly he could do a Binance to TRX transaction. He quoted delivery times and prices. Three and a half minutes for TRX to be delivered into his wallet from Binance, at the cost of 0.1 TRX which is equivalent to a thousandth of a USD cent. Sending XRP back to Binance took two minutes. That’s indeed quite fast and cheap.

Some other users used the chance and the general euphoria to remind and explain to other users about the coin burn. Haven’t heard about it? Ok, let me tell you. For every transaction that is done using the Tronix token some of the TRX supply will be burnt (which means it will be withdrawn from the market permanently thus diminishing supply and increasing demand.)

It will work like this. Every time a new account is created over the Tron Main Net, 0.1 TRX will get burned; every single transaction will burn 0.001 TRX. The apparent consequence is that the more Tron users there are, and the more users that run Dapps over Tron, the more TRX tokens will be burned. So in Tron’s basic economics the success in expanding the project’s user base brings the supply down thus keeping prices high.

Tron has shown to have a very loyal and excited user base. They seem to be quite happy with Tron’s new environment and are supporting it to death and screaming it to the world. They are indeed adopting the cryptocurrency, using it and trading it, and this is a sign that both the Tron foundation and Tron’s users understand the mechanics in cryptocurrencies and they’re getting the fundamentals correctly.

This all promises a great future (and mass adoption in real-world shortly) for the project, the cryptocurrency, and the community.

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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 Maxpixel.net

Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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