Tron (TRX) is fighting to pull itself up from the price deprecation it encountered for some time as it trails other cryptocurrencies. Currently, the market is performing dismally swimming in the red sea (again) as virtual currencies recording trading lows that can only be compared to the lows of October and September 2017.
The cryptocurrency selloff that began in the first days of August has gone viral and looks unstoppable. Going by last weekends trading, the market showed signs of recovery with the consolidation of the losses that had been encountered. However, virtual assets took yet another fall this week and the better part of trading on Tuesday 14.
For instance, Ripple (XRP) declined 3.77 percent to trade at 0.26 US dollars early this week with Ethereum (ETH) prices falling below the 300 US dollar mark to find a new support level at 250 US dollars.
Bitcoin Cash was also not spared, as it fell to exchange below the 500 US dollar mark to exchange at 497 US dollars. Bitcoin Cash now embraces a new support level of 480 US dollars. This negative market trend reflects on a majority of virtual coins and altcoins in the crypto ecosystem.
However, for the prices of any virtual currency to skyrocket, it needs to increase its circulation in the market and Tron (TRX) has been doing a great job in putting itself out there increasing its chances of real-life usage. And following the current trends Tron (TRX) has been showing, it is safe to say that the digital coin is going to experience a significant price surge shortly.
But what are some of the factors that might lead to Tron’s upwards movement, you might ask. The following are some of the reasons we think might positively impact the virtual currency in the coming few days, weeks, and months.
The Acquisition of BitTorrent
Early this month, the crypto community woke up to the news that Tron (TRX) had successfully obtained BitTorrent plus the positive launch of its mainnet platform aiding in increasing the coins transaction volumes. The move according to many shows Tron’s positive maturity although recent price movements are yet to reflect this good news.
BitTorrent continues to offer high-quality peer-to-peer services to over 100 million customers all over the world as the acquisition of the company was aligned with Tron’s mission of decentralizing the internet.
The challenge remains that BitTorrent mostly deals with pirated contents and its users are used to using BitTorrent’s services for free. How Tron intends to profit from this remains unclear. But one thing is certain, if Tron manages to take advantage of 100 million users of BitTorrent, its price might hit the tallest mountain in our world if not the moon.
Tron’s Acquisition of BlockChain.org
Following the purchase of BitTorrent, Tron (TRX) went ahead to acquire, Blockchain.org, a top-level domain name that many consider as one of the significant acquisitions ever made in the blockchain industry.
And the plans Tron intends to do with the domain name is to make it a decentralized Google for the crypto community members and the entire blockchain industry as the default search engines usually lack complete information about the industry.
Tron will not benefit from this venture in any direct monetary way as the project is categorized as a non-profit venture, but it will surely have some indirect positive influence in its prices as it will assist in increasing consumer confidence in Tron (TRX) as a blockchain and a currency.
Consequently, the above two are just a couple of reasons among many to believe we could witness a huge Tron (TRX) price surge in the near future. Of course, for that to happen, the market needs to have a nice rally, as well as Tron, needs to make use of its user-base in a way that turns the table for 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.
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Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
One thing that is expected is the approval of Bitcoin ETFs…
Do or Die: 3 Crypto Projects that Really Need to Deliver Soon
Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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