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Tron (TRX) has officially swapped its tokens; recovery time starts now?

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Tron

The crypto market is looking good at the moment (the market has started to turn on its head in last 24 hours though, in red again), and transactions with Tron (TRX) have increased in the past few days. The price of TRX has been on a low at $0.035 for the past few months, but right now, the price has moved upward.

The recent surge in the price of TRX was due to the increase in the share of USDT Trading. It is important to note that Tron increased by 31% in USDT Trading share. Although there may be short-term booms due to the USDT trade on Binance and recent market trend, still now, Tron is a matured digital asset and gains can be acquired on a long run – TRX will remain at this state for a while till its network starts distributing its products.

Moving forward, Tron’s election did not occur on June 26 as it was due to the fact that Bittrex and Binance had little doubts about the stability of Tron’s mainnet – and users may have to wait a little longer till the new Tron Wallet can be used.

The Super Representative elections of Tron has begun, but it seems the election is facing a glitch. As it stands, there is no specified date to the end of Tron Super representative elections. TRX tokens have been migrated to different exchanges, but exchanges such as Binance doesn’t permit withdrawals yet as a result of maintenance.

So, Tron’s mainnet was launched on June 25. Before that date, Tron scheduled its launch to be at the end of May, but the cryptocurrency faced some issues at that time. The mainnet has been launched, but it hasn’t lived up to expectations as yet.

Due to the fact that Tron’s mainnet hasn’t produced the right outcome in the past few days, it can’t be counted in the league of the most-traded coins in the crypto sphere. Quite remarkably, it has carved a niche for itself and topped the charts for the most searched on Google – as stated by Tron’s CEO, Justin Sun on his official Twitter page.

It is necessary to note that Tron’s mainnet pledges to offer a platform for distributed apps that will be much better than EOS – we will know if the prototype can stand the test of time as the day goes by.

During Tron’s mainnet, 1 billion tokens were burned and 99 billion new TRX tokens were circulated. Also, Tron foundation will have 33 billion TRX tokens locked till 2020 to maintain its value.

Furthermore, July 31st is the day set by Tron to launch its TVM (Tron Virtual Machine), and this TVM will enable Ethereum developers to migrate their projects into it as it is faster and more efficient.

Tron (TRX) price looks attractive at the moment if you take last seven days into the account (token went in red in last 24 hours following the market trend), but the digital currency is looking for ways to keep up with the current price trend.

There are bizarre forecasts that once Tron’s ecosystem starts functioning, its price will further increase. Well, let’s hope these forecasts are accurate, but in the meantime, let’s keep our fingers crossed and see how things unfold with the cryptocurrency.

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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.

Image courtesy of Pxhere.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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