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

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TRON
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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.

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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.

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Altcoins

TRON Ecosystem New Addition — CryptoDungeons

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CryptoDungeons
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According to the recent Medium post published by TRON Arcade, a blockchain-based RPG called CryptoDungeons is to become the latest hit on the TRON blockchain.

The announcement was published on February 8th, and it states that the CryptoDungeons TRON game is still in development. However, the team is preparing to announce a presale soon, meaning that the official launch is not far away.

About CryptoDungeons

CryptoDungeons was originally developed to be a part of Ethereum’s network. However, the team has decided to bring it to TRON instead. Soon enough, the fans of the game will be able to experience its story, universe, and characters on TRON blockchain.

The game is centered around Heroes who can be bought and used for exploring dungeons, crafting various items, gathering food, and alike. The game also offers five races for players to choose from — Humans, Elves Dwarves, Orcs, and Angels. Additionally, there will also be four classes, including Warriors, Mages, Rogues, and Priests. Each class will have its own unique abilities, with the Warrior class being presented as an example. The abilities that this class features include Strike, Heavy Strike, Shield Wall, Shield Slam,…

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Altcoins

Positive Crypto Price Trend Moves VeChain (VET)

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VeChain
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As many are likely aware of, the previous twelve months were not particularly friendly to cryptocurrencies, and there were two major market crashes since January 2018. However, it could be that investors’ wishes are finally coming true, as the market is currently seeing actual gains. While there is still no certainty regarding this behavior, investors around the world are finding the current development to be quite refreshing.

One interesting development that was noticed these days is the increase of VeChain’s price, which is seeing minor gains at this time.

VeChain (VET) price grows

While most cryptocurrencies experienced some extreme ups and downs during their lifetime, VeChain is usually surprisingly unaffected by the market’s behavior. In fact, its price chart typically shows no major changes, and it seems pretty flat in comparison to other cryptocurrencies.

While this may be a good thing, as the lack of volatility means that the coin is more stable than most, the fact that the price is usually not affected makes the current gains that much more peculiar.

In the last 24 hours, VeChain’s price has grown by 2.16%, placing its value at $0.00401120 at the time of writing. The growth is minor, and the coin’s value only increased by a fraction of a cent, but this is still not typical behavior for this cryptocurrency, which attracted the attention of analysts and investors…

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Altcoins

SOLVE Token Could Be A Huge Long-Term Winner

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Solve.Care
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A lot of articles have been written about an altcoin apocalypse.  With so many tokens entering the market, it is inevitable that not all of them will survive.  When trying to analyze pick out the best projects, the following criteria should be used:

  • Very active community
  • Strong potential for mass adoption
  • Valuable partnerships
  • Experienced leadership

If a project scores well in at least three of the above criteria, it’s a winner.  When it scores well in all four, it has the potential to be a blockbuster.  That potential blockbuster is Solve.Care.

Background

Solve.Care has developed a revolutionary platform that will significantly improve care outcomes by reducing healthcare administrative costs.  The platform will also go a long way toward eliminating a lot of the problems commonly seen within healthcare administration such as duplication, waste, abuse, and fraud.  I firmly expect Solve.Care to generate cost savings by facilitating peer-to-peer transactions that grant authority to stakeholders while empowering payers regarding cost control and oversight.

SOLVE token completed its token sale last year in May.  The company sold 350,000,000 tokens and still has 650,000,000 in its treasury.  The great news is that the token has been recently listed on both Bittrex and KuCoin, two of the largest and most trustworthy exchanges in the world.  Given the recent incidents, especially the Cryptopia hack, being on a trustworthy exchange is of paramount…

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