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Is it Possible for Tron (TRX) to Reach 10 US Dollars?

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As one of the most promising currencies in the cryptocurrency world today, Tron (TRX) continues to push the limits with the aim of cementing its position among the top crypto tokens. The long-awaited token migration from Ethereum’s blockchain and deployment of the networks new main net, Odessey, complete, good tidings look to be yonder. Popular exchanges such as Bithumb, Binance, Coinegg, OKEx, and Bitfinex among others undertook in the migration of Tron from ERC-20 based coins.

The migration ended on 25th June with former holders of Ethereum based coins depositing them in selected exchanges that supported the migration process and issuing them with new digital currencies.

Over the past few months, Tron (TRX) has been making headlines. Although the token is valued at a meager $0.03675, it has enormous potential to generate a lot of income as a long-term investment choice. The intentions behind introducing the digital currency, that aims to decentralize the internet, is a unique one and this feature alone can take the digital token to new heights.

Despite recording declines in the last few weeks, Tron (TRX) is showing signs of an emerging bull run, something that might be good news for Tron traders. In the last couple of days (forget today, the whole market is shaking a bit today, again), the price of Tron (TRX) jumped by over 6 percent, pushing above the 55 and 100-day moving averages.

The fact that Tron (TRX) has managed to break above these major resistance levels is a sign that Tron might be on a bullish reversal. These could be the very start of a new appreciation of value in the Tron market that could see it surge upwardly to the 0.1 US dollar mark and above in the next couple of months. If the virtual currency manages to sustain this push against the projected price of 0.1 US dollar, Tron (TRX) could record a new high of 1 US dollar per coin soon after.

Tron vs. Ethereum

The debate on which is the better crypto to invest in between Tron and Ethereum continues to draw a lot of chatter in the industry. There are high chances Tron will break-out this year, and it’s still the right time to invest in it.

Ethereum on the other side is in a dissimilar situation; all it needs to do is to maintain its platform and come up with correct enhancements and add-ons to proceed with its unstoppable match to the top. It’s more of a David and Goliath situation; everybody usually routes for David and not the evil giant.

Challenges that could hinder Tron price surge

The first challenge that presents itself is the Developer Platform. Being a new kid in the block of the network’s blockchain domain, Tron is contending with established blockchains that have solid developer network.

Ethereum, for example, has over 250 thousand developers with the number growing every day. Without the backing of a substantial developer network, Tron will have a daunting task to compete with the likes of ETH, Ethereum.

Tron is a Chinese blockchain which means that users and developers of the blockchain from the US might get cold feet in using it given the fact that the Chinese government usually has strong ties with almost all major brands that come from China. This might curtail Tron’s ability to grow in other western countries.

Following Tron’s partnerships and changes in their blockchain platform, Tron still shows exponential potential to grow and easily rise to over 10 US dollars in a relatively quick period if all things remain constant. Finally, I believe Tron TRX is highly underpriced currently.

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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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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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