Not just the Tron or Ripple enthusiast, if you ask any crypto investor for the best moment, you’ll get similar answers across the board. Perhaps, the kind of response expected is an obvious one, right? Your guess is just as mine-rise in the price of the cryptocurrencies.
However, that has not been the scenario in the past week as for most investors it has been a nightmare. Reason being, the significant drop in the prices of most cryptocurrencies. Therefore, the investors found themselves on the negative side of the line. Nevertheless, not all the holders have experienced the nightmare.
Not just today, Tron (TRX) and Ripple (XRP) holders are on a happy end; all thanks to the steady price rise of the coins despite the dark prevailing conditions in the market from the recent past. But, what’s the reason behind this fantastic scenario of positive news? Leading analysts have linked it directly to the reports within Tron and Ripple.
The Real Reason(s) for the Upsurge
Any investor warmly welcomes any slight indication of price rise in the future. That being said, TRX upsurge has been linked by most analysts and investors to the recent announcement by Tron CEO and founder, Justin Sun.
In his twitter account, Sun enticed the followers about the possibility of TRON (TRX) partnering with a billion-dollar valuation magnate (many speculate it’s Baidu, China’s Google). What more can an investor want? These kinds of announcements are what they wake up expecting to hear, each morning. Therefore, one thing was for sure – an over the Internet hype was inevitable, and many would hurry at least to have a share of the cake.
The impending partnership is one of the many steps that the Tron foundation is taking in making sure that it wades its way up to being the top coin in the cryptocurrency market. They are at the forefront of tying up several partners with key market players to make their dream a reality.
Besides, TRX will leverage the power of the social media buzz as Justin Sun announced some time back about hitting 100M followers on Twitter. And now, his Facebook followers have crossed 1.5 million mark. Basically, it indicates a mass adoption of Tron across the globe.
— Justin Sun (@justinsuntron) October 15, 2018
Furthermore, the news of the company acquiring a significant industry player- Bit Torrent for more massive file transfers adds to the reasons for the upsurge. Yes, they acquired BitTorrent some months ago, but the blockchain is able to use it effectively now.
What Does the Future Hold for TRON (TRX)?
Currently, all the indications point to one direction; bright future, as TRX rides at an impressive 3% that is backed up as well with a market cap of $1.63 billion.
Not too long ago, it was trading for about $0.022 with a $183.161 million market cap. The fact that the cryptocurrency market was on the drop the past week and still, even then, Tron was leading the surge indicates a future that is bright. Besides, the Tron foundation has steps in place to boost its levels up the ladder.
TRX is not the only one that has enjoyed the positive side of the bullish beam. Ripple (XRP) is the other cryptocurrency that has been spared from the hellish nightmare of recent times. XRP is at position two talking about the significant gainers of 10 top tokens in the past week with a price of $0.44 and a market valuation of about $17 billion.
XRP staying steady and rising further isn’t just a coincidence either. Ripple has been making some major strides recently in likes of its Swell conference (where they launched the xRapid and many praised the blockchain as a whole). More and more financial institutes turning to Ripple blockchain as well as rumors that Swift-Ripple partnership is in the making has allegedly pushed the XRP price well too. Of course, the market trend is helping both coins currently, too.
For the global insights every crypto trader must have, apply for Elite membership!
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 Jill111/Pixabay
Why Blockchain Projects Keep Failing
If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.
So, What’s the Problem?
For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.
What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.
Project Success Starts at the Team Level
The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.
Unfortunately, this mentality isn’t just…
STEEMIT Running Out Of STEAM?
Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.
If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees like…
The Three Biggest Problems with Crypto
In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?
However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.
Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.
We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:
Who hasn’t been scammed at least once?
The crypto community is overrun with scammers taking advantage of inexperienced and naive users. What’s more, scams don’t only occur on an individual level.…
BitStarz Player Smashes Record – Wins $2.4 Million on Azarbah Wishes!
The Bitcoin Revolution: Everything You Need To Know To Take Profits
3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences
Blogs2 weeks ago
Crypto Billionaire Predicts Massive Price Growth by 2021
Altcoins2 weeks ago
Justin Sun Bullish On TRX and BTT
Altcoins5 days ago
Why Tron (TRX) Price Won’t Remain Low for Long
Altcoins5 days ago
Why Binance May Be Crucial for Tron (Trx) to Reach $1
Bitcoin1 week ago
4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now
Hot Updates2 weeks ago
Social Gaming Platform Offers Crypto Community Unrivalled Multi – Gaming Experience with Fair Odds
Altcoins5 days ago
3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance
Trade2 weeks ago
eToroX launches gold and silver stablecoins