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How Well is TRON (TRX) Recovering from the Market Crash

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TRON
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With TRON planning on releasing its own Test Net and having its price dizzily dropping while experiencing massive losses, this currency is in the center of attention for quite some time now. We are following up on what is TRON up to these days as well try to predict how this currency will perform in the days to come as the launching of Test Net is approaching, slowly, but steadily.

A Reminder about TRON

Starting with the main idea behind this currency, TRON exists with the purpose of helping the development and easy functioning of the entertainment industry. This term is pretty wide as TRON supports any type of media, including content, games, applications, videos, and even social media.

Although TRON was launched only a couple of months ago in September 2017, this currency has flourished during this short period of time, trading at the amazing price of 0.30$ per short after it was listed as ICO.

The most interesting part about TRON currency is that TRX aims at helping different people dealing with the entertainment industry to establish ownership over their intellectual property. Whether you are making music, uploading videos or dealing with online content, TRX is planning on establishing a blockchain-based network that would allow all TRON users to list their creations and acquire ownership over their intellectual property without having to submit to the policy and rules of any third parties like YouTube for example.

When you are uploading your videos to YouTube, the fact is that you need to oblige to the rules of the website and its policy in case you want to use their services. With TRX platform, all creators that are dealing with the entertainment industry would be able to easily establish their ownership. The only condition to gaining access to this feature is to own a TRX wallet with TRON units in it.

This being said, TRON is actually trying to remove the presence of any third parties, i.e. middleman, that appear in the entertainment industry. Those would be service providers like YouTube or Instagram. Thanks to the blockchain technology and the nature of decentralization, you can now rely on TRON for proving your ownership while being able to directly collect profit from your work without any hidden fees or third parties taking their share.

Test Net and TRON

TRON, a currency with the greatest number of partnerships acquired over a short period of time, is planning on launching its own Test Net.

So far, TRX was hosted on Ethereum’s platform, existing within Ethereum ecosystem and working on top of its blockchain network, but as of the end of the month, TRX will have its own blockchain platform.

The launching of their Test Net was announced to be launched on March 31st and from that point on, TRX will exist and work on its own platform. The fact that this currency is getting its own network says a lot about TRX’s progress as this novelty would leave lots of space for further progress. It is also needless to say that the launching of the Test Net will surely draw more investors into the story behind this currency.

One would think that the fact that TRX is getting its own platform while moving on from being an Ethereum-based token would affect TRON’s price positively, but it seems that the excitement about the Test Net being released has settled down.

TRON: Price

Tron appeared as a massive success when it appeared in September 2017 while dealing at the price of nearly 0.30$ per one unit, rocking the crypto market. However, since those days there have been many changes so TRON managed to lose nearly 80% of its market capitalization.

TRX has managed to drop for 80% from dealing at 0.30$ to trading at only 0.05$ per one unit.

After the latest drop of -8.20% in the period of only 24 hours, TRON is now worth 0.04276$ per one unit. If you think that a bad case of series of drops in price can wipe out a coin, you are mistaken, because although TRX has dropped severely, this currency still has a chance thanks to its technological capabilities and the upcoming Test Net where TRX will exist on its own operating platform.

If you take into consideration that unlike Bitcoin or majority of coins and tokens, TRON is still pretty young, this currency has had an amazing breakthrough into the crypto market.

TRON is still listed as the 14th best coin on the global coin ranking list, and chances are that it could climb up the ladder of success further with the upcoming date of Test Net launching.

On the bright side of the story of having TRON losing 80% of its market cap, TRX is the number one currency in the number of partnerships, which this currency managed to acquire within a very short period of time. The bottom line is not to lose your faith in a coin of your choice just because it’s going through a rough patch with the market breakdown.

We will be updating our subscribers as soon as we know more. For the latest on TRX, sign up below!

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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Sam valadi via Flickr

Altcoins

HODLing Stellar Is A Good Plan For 2019

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HODLing, or holding on to a certain asset or assets has always been an extremely useful investment strategy, even before cryptocurrencies were even imagined. Now, with the market being more uncertain than ever, many are wondering what is the right thing to do with the coins in their possession.

Of course, things change depending on the coin in question, but today, we are going to talk about why it is a good idea to hold on to your Stellar (XLM) in 2019.

Why You Should Hodl Stellar (XLM)

The crypto market is rich with hundreds, and even thousands of different projects at this point, and separating valuable ones from those that are destined to slowly fade away can be tricky. However, even the biggest skeptics believe that Stellar is a coin that is here to stay.

XLM was first launched in 2014, and for a long time now, it has been among the top 10 cryptos by market cap. It is an open-source, decentralized protocol that allows users to send fiat currencies by using cryptocurrency as a method of transport. In a lot of ways, it is very similar to XRP. However, the biggest difference is that Stellar aims to offer its services to regular people, while XRP is more interested in working with banks and financial institutions.

Nevertheless, sending money, especially when it comes to cross-border…

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Altcoins

Reasons To Invest In Electroneum In 2019

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Electroneum
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2018 has been quite a rollercoaster for the crypto space. Coins went up and down more times than anyone could have guessed, not to mention two massive market crashes. However, in a few short weeks, the year will be over, and a new, positive period for the crypto world is expected to arrive.

While there are many predictions for 2019, today we are only interested in one thing — Electroneum (ETN). A lot of people quickly took notice of this coin, and many believe that it is among the coins of the future. Indeed, it has received a lot of attention, and many are interested in why that is, and why investing in it is a good idea. So, let’s take a look at a few reasons why you should invest in ETN in 2019.

1) It is fast

Speed and precision of any service have always been very important to people. This importance is even greater when making a profit depends on it. Electroneum developers were aware of this when they created it, and the coin is up to 5 times faster than Bitcoin. This means that ETN transactions can be confirmed much faster, which in turn reduces fees and waiting time.

Furthermore, there are also plans to create Electroneum Virtual Currency Exchange, which will allow the project to act as an exchange. However, the even…

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Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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Bitcoin ETF
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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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