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
The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry
Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation.
There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated.
A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified.
Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders.
Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:
The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…
Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
The development of…
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…