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Tron (TRX) may recover its bull run as 26th of June passes

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Tron TRX
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Tron’s popularity continues its rise, this time with the expectations of the upcoming Super Representative elections that will make the construction of self-governed community possible for the token. As it was expected, this milestone has generated a large number of assumptions among which there is the possibility of recovering the bullish performance after the deployment of the elections.

As we know, Tron (TRX) has been working incessantly on building up solid relationships with the most remarkable institutions of the finance sector, and this is precisely one of the things that may be interfering on the price recovery after elections on June 26.

The most recent achievement of the token has been the collaboration with the well-known exchange Binance, a network that besides offering support for the token after the migration on June 24th, also listed the coin with a new pair that may boost the liquidity of TRX, the TRX/USDT pair.

The Likelihood of Tron’s Climb

The strategic alliance with Binance has definitely incredible chances of giving the TRX token a power to unlink from BTC, and as a result, this may have repercussions on the price of the coin. Let’s recall that Binance possesses the bulkiest wallet in the world, offering Tether as a coin option, which of course, with the upcoming availability of the TRX/USDT pair give the Tron’s future a very bright look.

As a matter of fact, Bitcoin has a significant influence on other coins of the market since most of the transactions are primarily made using BTC, a fact that of course benefits the leader of the market. In this sense, BTC still has a great control over the Tron’s token TRX, but as it seems this may be changing soon with the help of USDT, which has expanded its share up to 18%.

Nevertheless, when it comes to coin’s behaviors, both Tron (TRX) and EOS are actually the tokens that despite the drops of the leader BTC, shows a strong resilience in the recent times (not this time, though). The concern that remains then is that the USDT pair may be adding artificially increased value to the coin later, which is something Tron still needs to solve.

At the moment of writing, Tron (TRX) occupies the number 10th position on the market, with a value per coin of $0.04365, and a 26.79% of the decrease in the last seven days, a number that proves how the token is suffering the dips of the sector. The coin is in green if we talk about the last 24 hours, though.

The Super Representative Elections

Tron has managed to make the elections a milestone to remember. In this case, the crypto has built a voting process based on its wallet with a perceptive and straightforward operation process. The big challenge will remain of freezing the TRX tokens of all of the exchanges and wallets out there completely, a fact because of which the company is thinking of building a wallet that can do both the freezing of the tokens and the allowance of the voting.

Despite the difficulties on this task, the company managed to include the TRX asset in the hardware storage, an achievement that even granted the Tron team with an open congratulation message from the Ledger team. Another reason why Tron might get on the bull run after June 26 is, its Main Net is still in beta and will settle on June 25th.

The migration of ERC20 TRX to Tron’s native Mainnet is scheduled to happen between June 21st to June 25th. As the Main Net, Odyssey 2.0, settles down, the community’s confidence in the project will affirm too. Like this, it is expected that the project gets spread to many more investors after 26th of June.

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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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Altcoins

Analyzing The Best-Performing Cryptos

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Over the nebulous first half of this year, some tiny cryptos were able to grow by more than 1000% and reach the desired top 100, while others that were already in the top 50 bastions simply zeroed. What factors led them to perform like this? Luck, external factors or well-made decisions?

First of all, it is important to clarify that it would be unwise to analyze them disregarding the market context (crypto and non-crypto) of the period, so we’re using a holistic approach.
In our timeframe, considering the traditional market cycle of emotions, in contrast to the standard chart below, the euphoria quadrant had a much larger peak and a much shorter duration, starting in the middle of 2017 and ending at the beginning of 2018, while we were stuck in the period of “excitement” since, maybe, 2015. The emotions in red passed in a rush and at the end of July, we were already in deep “despondency”.

Source: https://russellinvestments.com/ca/insights/the-market-cycle-of-emotions

Besides to the fact that the market completed half of the cycle in less than half a year, some very relevant things, besides the usual phenomena expected of an investment market, happened during this period. In addition to the hype the period enjoyed and the fact that bad, inexperienced investors were frantically joining the crypto market, we…

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Is Tether (USDT) really a stable coin?

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Tether
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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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TRON Partnership Involves Cloud Computing

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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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