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Is Tron (TRX) set for another breakout?

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Tron

Tron is one of the best-performing cryptocurrency in the world of crypto, and this because it has taken charge of lots of projects in the past to help its platform and community, but all these haven’t helped or reflected on the token price. Now, many cryptocurrency enthusiasts believe that Tron (TRX) is poised for a breakout in the coming weeks. But how likely that speculation is to become real?

At the time of writing, TRX is priced at $0.022 after going up by 0.05% in the last 24 hours – hence, no significant change yet. Over the past few months this year, there has been a decline of more than 60% in Tron value, which is likely due to the overall performance of the crypto markets. But even after the launch of Tron’s MainNet, the price of TRX remains stagnant. That’s one thing that has pushed many to the dull-wall.

A TRON Breakout Forthcoming?

Technically, taking a look at its market charts, Tron is now in a falling wedge, but there are a number of changes in the charts which show a breakout may be coming up.

The falling wedge also indicates surge and dips which are bounded by trendlines, and we do know that this type of scenario forms a bullish trend at the upper part of the wedge. Additionally, the OBV indicator (On Balance Indicator) is showing a downtrend, and there is a high possibility that it may create a new trough.

As things stand right now, an upward price correction is evident, and we may see a price breakout on TRX/USD trades in the coming weeks. In fact, it seems, the reversal is already ongoing which is due to the activities of Bitcoin in the market.

It is necessary to know that Tron (TRX) is riding the wave of positive news around it. It looks like Tron is a getting a better share of attention after creating a better avenue, its Virtual Machine – a much better Virtual Machine than Etherum’s for Dapps developers to create and deploy their Dapps.

Even in a recent statement by the CEO of Tron, Justin Sun, he has asked Dapps developers not to install their Dapps on Ethereum’s network. There is no doubt that Tron has increased its pace and making sure it offers the best experience for Dapps.

Tron’s VM is drawing the attention of lots of developers today and as this interest increases so will its price.

Furthermore, Tron has now been listed on Bittrex and Binance, both of which are prominent cryptocurrency exchanges in the market today. Tron has also created another project for Dapps developers called SeedGerminator, which will help accelerate Dapps and its creators to produce technologies on Tron’s network.

Besides the technical analysis, the announcement of Tron’s Dapps and its listing on Bittrex among other things could see the price of TRX breakout in the next few weeks. Although, this forecast will solely depend on the market if it does not generally dip as it did lately. And yes, accounts on the Tron network surpassing 400K mark is a thing worth noting too.

Additionally, we shouldn’t forget that other recent project such as Project Atlas will also help TRX price surge in the coming days. The recent developments on Tron’s network seem to be promising, and we could be in for a breakout anytime soon.

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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.

Photo by Vlad Shapochnikov on Unsplash

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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Messari Adds DigitalBits (XDB) & Branded Currencies to its Registry

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One of the top providers of crypto data and research tools on digital assets Messari has announced the addition of DigitalBits (XDB) to the Messari Registry. As a participant, DigitalBits governing body, the XDB Foundation will be providing regular updates and commit to transparency. The DigitalBits blockchain was built to support consumer digital assets – branded currencies.  As the company stated, “a global, legacy digital asset class, branded currencies play a vital role in consumer-brand interactions, and account for billions of dollars in value.  Branded currencies issued on the DigitalBits blockchain will also be included within the Messari Registry.”

Additionally, Messari and the XDB Foundation “may explore the buildout of a novel registry to accommodate branded currencies tokenized on DigitalBits. This registry would address issues consumers face when determining the legitimacy of branded currencies and their respective organizations,” the announcement said today.  The goal is to provide a standardized framework for organizations leveraging branded currencies, certifying asset legitimacy, and clearly outlining characteristics including but not limited to asset issuance and organization identity.

Commenting on the news, Messari representatives said they recognize the potential for the use of branded currencies to grow in the future as more enterprises embrace blockchain technology. Ben O’Neill, Vice President, BD & Operations at Messari said the Registry will help all…

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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