Connect with us

Altcoins

TRON Surges by 100% in 30 Days — Can it Go Even Further?

Published

on

TRON
READ LATER - DOWNLOAD THIS POST AS PDF

Despite many crypto investors’ hopes, the start of 2019 did not bring a new rally, nor did the crypto market manage to shake off the bear grip which caused a tremendous price drop in the past year. In fact, the market continues to drop even now. In the past month, the total crypto market value lost around $27 billion, placing it to only $111 billion right now.

However, while nearly all coins are trading in the red, with their charts showing a continuous drop — TRON (TRX) is one of a very few obvious exceptions. In fact, while nearly every other crypto experiences losses, TRON managed to grow by around 100% in five weeks, starting with December 17th.

Before it started seeing gains, TRX price was at around $0.127. However, within only five weeks, TRX managed to climb to around $0.025, according to TradingView. While this is not much when compared to large cryptocurrencies like Bitcoin which move up and down by hundreds of dollars, it is still a huge move for TRX, whose value is still only a fraction of a dollar.

Chart courtesy of tradingview.com

Why did TRON price grow?

One of the obvious questions right now is — why did it happen? After all, TRON went through an entire 2018, with countless partnerships, projects, and other new developments without its price being affected in any significant way. So, why now?

The reason is the recent launch of BitTorrent Token (BTT). BTT is to be native crypto of the BitTorrent’s own ecosystem, and it has been in the works ever since TRON purchased BitTorrent in mid-2018. A little over a week ago, BTT was launched on Binance Launchpad, an initiative that is supposed to launch one coin per month and expose it to millions of Binance’s users.

The response was extremely positive, but also quite unexpected, and the entire token sale was finished after only 18 minutes, even after the platform had issues due to a large number of interested investors.

The launch has seen the sale of 23.76 billion BTT coins which went to holders of Binance Coin (BNB), as well as another 35.64 billion BTT coins which were distributed to TRON holders.

The demand for BTT surprised everyone, although it was a positive surprise. However, it also had quite an impact on TRON’s growth and future development, as it can already be seen from the increase in TRX value.

Another thing to remember is that BitTorrent has millions of users, which is something that no dApp has managed to achieve so far. Despite there being multiple projects dedicated to the creation of smart contracts and dApps, such as Ethereum, EOS, and even TRON itself — not one of them managed to attract enough users to reach the popularity of BitTorrent.

According to TRON’s founder, Justin Sun, there are currently around 1 billion devices in the BitTorrent ecosystem. Due to the number of available BTT coins, that is only around 990 BTT per device, which is likely to allow BTT price to grow as well. The big question now is how many of those users are actually going to want to use BTT.

If it turns out that BTT complicates the use of BitTorrent, this may have negative consequences on the coin, at least when it comes to its adoption by BitTorrent users. Those who use BitTorrent only from time to time for casual file download might not be interested in going to exchanges, making accounts, and learning how to trade crypto just because they can.

Meanwhile, all those who do decide to use the coin will help increase TRON’s own ecosystem, with all of the transactions going through its blockchain network. While it is not clear how many users will opt to do so, it is likely that TRON will have to handle millions of additional requests, with many of them likely being made regularly.

However, TRON’s developers did have scalability in mind since the launch of the blockchain. As a result, it is possible that TRON’s blockchain will successfully handle the requests, in which case all that remains is to see how its price is going to behave.

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Can Libra help the crypto industry to reach new heights?

Published

on

Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Elite