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

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TRON

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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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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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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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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