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Tron (TRX) on the edge of a breakout, responds to critics

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Tron TRX

Tron is no doubt creating a thrill and widespread notice in the cryptocurrency ecosystem. The digital coin is steadily making moves and increasing in value with each partnership it is onboarding in its already long portfolio.

Tron (TRX) is a platform that was launched in 2017, and it intends on using blockchain technology in building and storing entertainment applications and content allowing users to use smart contracts that are accepted on their blockchain. One of the major advantages of Tron and its platform is that it allows users to publish their data and content easily with little restrictions nurturing their growth and the growth of the media and entertainment industry.

Although there are no major visible implementations that have been witnessed, Tron (TRX) recently successfully launched their new Main Net, Odyssey 2.0. Even after the main net launch, Tron has continued to experience considerable price instability.

Apart from being a global no-cost content and entertainment platform, Tron (TRX) is also an investment asset that has many applications associated with it. Tronix or TRX is its cryptocurrency coin.  Many virtual currency analysts are discussing the probabilities of Tron (TRX) being a viable investment for individuals as well as corporations.

Reasons Why Tron might be on the Edge of a Breakout

We have all watched in disbelief as Tron (TRX) prices refuse to leave the red zone even after the much-hyped Main Net launch. Before the May 31st launch, many cryptocurrency enthusiasts together with the TRX community kept hoping and speculating that the virtual currency’s price would surge.

Well, at the moment, this is yet to happen. To some who could not predict the future, the main net launch was just an overhyped project that could have been responsible for pushing some holders into panic and selling off their digital coins. Many holders sold off their holding after seeing the coin wasn’t making much headway in regards to value and price. But Tron is not the only cryptocurrency to be a victim of this trend as the general markets are now struggling to rise from the market price slump that was experienced early this year.

Regardless of the negative outcomes, Tron still prides itself on having a strong market presence. Currently, the digital coin is ranked position 10th on the market and sells at about $0.05 against the dollar.  Even though it hasn’t shown great movements in the past seven days or 24 hours, the virtual currency remains to be the favorite coin in the top 10 market. In the last 30 days, Tron has more than 65 billion TRX in circulation and an average of $350 million trade volume per day.

Also, Tron continues to spread its tentacles in the market by gaining more listings on exchanges. At the moment, TRX has about 100 pairings going by announcements made by none other but Tron CEO, Justin Sun. The coin is gaining traction with each day that passes providing accessibility and driving demand. Tron (TRX) was recently included on platforms that include BitForex, OTCBTC, ShiftMarkets, and CoinEx.

By increasing its visibility, Tron is surely ready for the next level that could propel it to great prices and valuation.

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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 Pxhere.com

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.

NFTs are already being actively traded in markets globally. For…

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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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