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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
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.
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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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.
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