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What will be the price of a Tron TRX token at the end of 2018 now?

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Tron TRX

In terms of developments we can all agree that Tron (TRX) is undoubtedly one of the coins that continuously work the most in order to provide its users with a unique experience, and at the same time, it strives to achieve its mission of becoming the virtual coin that manages to make of the internet a decentralized space.

As a matter of fact, only this year Tron has launched its Test Net, migrated their tokens to its own blockchain, launched its virtual machine, started to build its own self-governed community, and has bought BitTorrent as well; which, of course, give us a clear idea of the commitment of the crypto in order to get to the top.

But is this being a functional strategy? Is this actually paying off in terms of price for the TRX token? The answer to these question is actually simple, so far is not.

The conditions of the market are not the best right now (not that stable), and this is a fact that has affected each one of the cryptos in the market, including Bitcoin (BTC) which now trades $6,500 again.

However, we have strong reasons to believe that this will drastically change in the remaining months of the year. Let’s see all of the details behind this asseveration and how far the TRX token is expected to go.

Facts about the TRX price to keep in mind

There’s not a doubt that if we’re going to talk about the future crucial of the TRX token there are a few things we need to consider. For instance, the current price of the token, its all-time high, the price of the coin back on its billionaire ICO, and the volume that the crypto manages to have these days.

In this sense, the TRX token places on the 12th position according to Coinmarketcap with a price of $0.022329, a value that is quite away from the one managed on the ICO of $0.0019, and at the same time, very distant as well from its all-time high of $0.30.

It results notable, that the coin has had significant losses through the dips of the market this year, and this only leads us to conclude that many of the original investors have already sold their holdings in order to find a balance.

Nevertheless, Tron (TRX) has a solid and constant trading volume of $200 million every day, and most of these transactions occur with two of the most important trading pairs such as TRX/USDT and TRX/BTC.

Fiat trading with TRX

One of the things that may boost the price of the TRX token considerably is the aperture to fiat trading markets, because even when the coin has already fiat tradings this is just a tiny portion of its operations, and the right approach in this matter may have great implications for the coin.

But what do we need to see this happening? Well, Tron is lacking gateways, in other words, exchanges that show support of these tradings such as Coinbase, to name one. In this sense, it is necessary that TRON accomplishes to prove that their blockchain is safe and trustable, but this is something that requires time since TRON’s blockchain is only in its early days.

Chinese adoption of TRON’s TRX

Another interesting market for Tron to explore is the Chinese market. As a matter of fact, China is opening up to virtual currencies right now and Tron (TRX), along with NEO, and VET are the likely options for the country to adopt.

If we take time to consider it, there isn’t an interaction of the TRX token with the Yuan, and on the other hand, we can see how the Yuan represents the 1 percent of the operations for Bitcoin, which is pretty much remarkable, to say the least.

If Tron explores this option, it can actually grab the attention of the Chinese market, and the chances of opening to a horizon of this kind represent a massive opportunity for the price to increase in a great measure.

TRX/BTC ratio

The Satoshi ratio is currently the unit to measure the price of different currencies with respect to Bitcoin (BTC). In this sense, TRX currently has a value of 291 Satoshis. But in the long-term, analysts forecast that the price of the token may have an upturn that could take this value to 615 Satoshis (to read more about the dontFOMO analysis, click here) so we could be speaking of a year closing with TRX being separated in terms of correlation to BTC.

TRX price at the end of the year

If all of the moves continue as they go, Tron (TRX) may get to a price of $0.70 dollars (at least) by the end of the year, and even when it doesn’t seem like an outstanding increase, it would actually represent a huge jump in the current performance of TRX, and a pretty decent change with respect to current prices of the crypto.

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READ  The Latest TRON Developments: Why HODLing onto TRX Could Be Beneficial for HODLers

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 Maximilian Weisbecker on Unsplash

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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