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

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Tron TRX
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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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