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TRON (TRX) Makes Progress as Mainnet Date Reaches Close

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Tron
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The entire crypto world is brimming with excitement for its Test Mainnet which is going is to happen at the end of the current month, the 31st. On that day, the Tron blockchain is supposed to migrate from its existent ERC-20 standards to its own blockchain. Recently, more announcements have been made by Justin Sun, the founder of Tron regarding the progress being made for the fated day. If we consider Tron’s recent performance in crypto markets, there are signs of recovery and support from its dedicated community aka Tronics. Token holders have already been notified to transfer their TRX from Ether wallets to exchanges which are supporting the migration in order to avoid withdrawal and trading. In this article, we shall discuss the most recent progress made by Tron Foundation for the upcoming event.

Support for Mainnet for D-Day Increases

Tron has already announced that the token migration from ERC20 to mainnet TRX is going to take place between 21st June to 25th June. A TRX holder has to deposit the coins to mainnet supporting exchanges before the last date of migration. Some of the biggest cryptocurrency exchanges have declared their support for Tron Mainnet migration. Recently on their twitter, Tron foundation shared a picture that contains names of all renowned TRX migration supporters. The list includes Binance, Bitfinex, Gate.io, Coinnest, Coinrail, Bit-Z, BiBox, Bittrex, Bixin and Zebpay. The co-operation Tron has received from these crypto-influencing giants is sure to result in a movement in Tron’s status on charts and contribute to its current rankings. The founder of Tron has already made a clear statement that with the Mainnet release, TRX is headed towards becoming 6th largest cryptocurrency in the globe once again.

Tron’s Weekly Progress Report

According to the recent technical reports published by Tron foundation, there has been active progress towards the fast-approaching mainnet launch. Developers have improved log information and exception handling of network modules. The stability of network modules has been facilitated. The consensus mechanism documentation was improved by testing and reviewing funds-related code. They continue to work on increasing the transaction speed, repairing bugs and pressure testing. It’s evident that these weeks are going to be extremely busy for people at Tron foundation as they have a responsibility to successfully meet the expectation of the global community. Tron has also accepted on working with more digital asset trading platforms to support the token migration.

Bitpie Wallet Joins Hands with Tron

The latest addition to Tron’s token migration list is a well-known wallet service provider called ‘Bitpie’. Every person who has exposure to cryptocurrencies and the wallets holding them knows the efficiency and level of security provided by Ethereum wallets (either hardware/cold wallet storage) such as MyEtherWallet and Ledger Nano S. in case a TRX holder has kept their coins on either wallet are advised to transfer to the above-mentioned exchange wallets. Tron has recently posted on medium regarding Bitpie wallets supporting Tron tokens migration and blockchain upgrade. According to the announcement, TRX holders and investors are being urged to deposit their ERC20 compliant TRX to Bitpie wallets in order to receive the equal amount of TRX tokens. There will be a weekly exchange for those who choose to deposit TRX after 21st June. This recent announcement has relieved Tron’s community since it’s the first wallet support declared for Tron migration and the Bitpie wallet is a user-friendly wallet with functions such as instant trade, built-in exchange and it can successfully manage blockchain asset for its users.

Other Upcoming Tron Events

It’s not just the token migration and the mainnet release for which Tron has made quite an effort to stand out, the team behind Tron has already mentioned its other launch events which are to take place close to the mainnet day. Tron is also expected to launch Virtual Machine, Tron VM v0.1 on 25th of May for which TRX holders and investors are keeping their eyes peeled. The virtual machine will pave Tron’s path towards TRX migration and become a separate crypto entity. The Tron virtual machine is made in such a way that it would be compatible with ethereum virtual machine. Among all the details of the upcoming virtual machine release, it is developed to ensure that all dApps which were originally built on Tron’s platform based on Ethereum can migrate their projects with ease. As far as the trails of announcements go, the expectation bar for Tron is rising higher. Although the currency hasn’t made a prominent upward trend since a few days, there are chances that bulls are HODLing TRX closely.

Final thoughts

As per the current data on CoinMarketCap, Tron is placed as the 10th biggest cryptocurrency of the world with an individual price of $0.072 USD that’s increasing at the rate of 9.53%. after the recent recovery signs, the total market capitalization of Tron has reached an approximate of $4.72 billion USD and since the past 24 hours almost $468 million USD worth TRX has exchanged hands, which signify that the Tronics have already started depositing their ERC20 Tron coins on mainnet supporting exchanges to prevent all sorts of losses due to the upgrade. Though the current situation is exciting for Tron there’s still chances of the paradigm getting shifted. So its advisable to stay on the safe side and enjoy the show.

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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.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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