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TRON (TRX): Reasons Why You Should HODL

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TRX

Trading Markets around the world are starting to be dominated by Cryptocurrency trading. Currently, there is an excess of over 1800 cryptocurrencies and blockchain related projects in the world at the moment, and TRON (TRX) is just one of them.

TRON or TRX was developed on the blockchain network as a decentralized ledger protocol, capable of building an entertainment framework for free content distribution around the world. Like many other projects, it uses the decentralized distributed ledger system, where users can publish, store and own data.  A user can also choose to distribute content in an autonomous decentralized form. As of 19/03/2018, TRON is ranked 15th according to Coinmarketcap, with a total market cap of $2,058,589,056 USD With a total supply of 100,000,000,000 TRX Tokens.

Current Market Scenario of TRON

The Cryptocurrency market, on the whole, is very volatile in nature, with investor sentiments taking precedence over other price movement factors. Thus it comes as no surprise, that TRON, just like the majority of cryptocurrencies have experienced torrid times recently. The market, on the whole, is recovering from a major slump which saw most cryptocurrencies depreciating in value by about 50%. This came after the Cryptocurrency market reached all-time highs during December 2017. This year, however, saw the introduction of fears of regulations which negatively impacted investor sentiments. Thus, even though TRON reached a value of $0.30 in January, its value nose-dived till it hit rock bottom recently at $0.03. However, at the time of writing, the future prospects are looking bright for TRON. This is fuelled by the announcement of four events which are slated to take place around 31st March.

The value of TRON has seen a positive climb after some recent positive events. TRX Tokens got listed on both Bittrex and the Upbit Exchange recently, followed by TRX listings on 6 additional crypto-exchanges around the world. This certainly had a positive impact on TRX prices, which bumped up to $ 16,752,047,709 on January 05th of this year, following the above announcements.

Predicted Rise Due to Slated Events

As shown above, positive news relating to the coin has a definite positive impact on price levels. The team behind TRON have confirmed about four events that are scheduled to take place on March 31st.  The news of this event can be considered a positive gesture in the crypto-community and can help push price levels up again. The four events are discussed in brief below.

  1. First Beta Launch: It was announced that on March 3st, TRON would unveil the first beta version of EXODUS, which is set to offer more advantages as compared to any existing blockchain systems.  One of the highlights of the release is expected to be the fast transaction processing speeds, with Exodus being able to process 1,000 transactions per second, which in turn lowers transaction fees.  This release is also expected to include the TRON Virtual Machine, a tool that enables small smart contracts to be created in various programming languages along with several monitoring tools.
  2. Mainnet Launch: As announced before, TRON’s Mainnet Launch is scheduled for a May 1 release. TRON holders everywhere are thus advised to hold on to their tokens as the mainnet will separate TRON from Ethereum. As a result, the lower costs are expected to fuel the adaptability of TRON around the world and many businesses are expected to partner with TRON in the near future. Scalability on the TRON network will be infinite, as TRX trading volumes on exchanges increase.
  3. Test Net launch: Before the Mainnet launch, however, the TRON test net launch is slated for March 31st. The test net is expected to open new avenues for running a full node, as well as allowing the deployment of customized digital assets. As the test net is expected to bear all the functions of a basic blockchain, including data checking, it will enable sending and receiving of transactions as well as voting.
  4. Coin Burn: TRON Coin Burn is slated to happen around March 31st. As TRON works on the principle of “Proof-of-Burn”, coin burning is required. The consensus algorithm requires every miner on the network to provide proof of these coin burns. This is done by sending the coins to a verifiable and unsuspendable wallet and does not consume any resources besides the actual “burning” of tokens.  Holders do not lose any coins. However, the degree of scarcity experienced by users after the coin burn is the main driving force behind increasing the value of the coin.

Final Thoughts

As highlighted earlier, the Dev team behind TRON aims for the TRX tokens to be a valuable asset in the Cryptocurrency industry by increasing the ability to develop more smart contracts. The aforementioned events certainly will have a positive impact on price levels. Thus in spite of the fact that TRX price levels have decreased enormously since the beginning of the new year, TRON holders are still advised to hold on to their tokens to gain from future price bursts.

We will be updating our subscribers as soon as we know more. For the latest on TRX, sign up below!

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 Marco Verch via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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