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TRON (TRX) Increases its Trading While Waiting for the Launch of MainNet

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Tron

A recent market crash has affected many cryptocurrencies, and Tron (TRX) suffered a great deal as well. However, recent development shows that this crypto might be getting back on track.

A major crypto market crash was suffered by the majority of cryptocurrencies at the beginning of 2018. When all cryptos are put together, more than 50% of the total capitalization of this market was lost. Tron (TRX) has had an especially hard time during this period. However, after the eight long weeks, there seemed to have come a relatively good rebound period.

Unfortunately, this too was interrupted by a great selloff that lasted a few days. This selloff once again damaged the market quite a bit, but it too came to an end. Yet another period of recovery followed, and this is when Tron finally got its chance to shine.

Tron is back

Tron (TRX) is currently seen as the 10th best crypto when it comes to the global list of token ranking. However, its biggest rise so far was only seen after all of the Justin Sun’s efforts were made, which helped Tron for the first time since it originally appeared as an ICO. Last week brought a lot of success to this crypto, and TRX has officially become the #1 digital asset, globally. Github recorded the greatest amount of commits that all went to TRX.

Additionally, it also became the most popular token in Twitter discussions, and the entire platform was talking about it on April 26, when TRX experienced a major rise. In order to display its market dominance, Tron started rising, and at the same time, collecting a lot of gains. In fact, the only crypto in the top 30 that has had larger gains than TRX was EOS.

Even so, this has not diminished Tron’s return, and it collected 46.64% within a single week. Even the last 24 hours alone saw another increase of 3.94% against the US dollar. The sudden increase is amazing, and it is believed that this development came due to the fact that Tron’s MainNet is soon expected to launch.

Tron’s MainNet

Right now, TRX is seen as an ERC20 coin. However, this is expected to change really soon, since Tron plans the launch of its MainNet, which will turn it into a native asset.

The launch is expected to happen on May 31, but the full TRX migration probably will not be completed before June 21. This is also the date when the MainNet is expected to be officially open and ready for everyone to use.

As a sign of appreciation for all of Ethereum’s support in their time of need, the representatives of TRX have decided to make an airdrop. Original airdrop happened last week, which was at the same time when TRX saw a massive increase in its market value. The number of units that this crypto released to Ethereum’s community included 30 million.

Tron on the crypto market

It is not easy to make such a comeback, but Tron still managed to do it. Not only that, but it also collected almost 50% of gains against the US dollar. In the process, it also managed to retrieve its rank of 10th best crypto.

It is currently still traded in the green, but the gains are already significantly lower than they were during the last week. It is currently trading against ETH and BTC, but it still managed to go up against the dollar, and up to 3.94% at that. As for BTC and ETH, during the last 24 hours, it went up to 4.72% and 4.88%, respectively.

The current price of trone is at about $0.085 per piece, which is a significant increase from the $0.050, which was its price only several days before. However, this is still not this currency’s peak, which was reached in January and had a value of $0.25. If all goes well, the launch of MainNet might see this record shattered and replaced with a new, much higher one.

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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 Philipp Medicus via Flickr

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. One of the ways to have a successful trading…

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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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