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Is Tron (TRX) set for another breakout?

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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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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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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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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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