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3 reasons why Tron (TRX) is on the brink for a big bull run

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Tron TRX

Justin Sun, the CEO of Tron, has shown to be resilient in the quest to make Tron one of the biggest cryptocurrencies in the cryptosphere in no time. Tron is currently priced at $0.03363 (the token increased in value by more than 5% in last 24 hours) with a market cap of $2.2 Billion at the time of writing this article. However, even though the market has been unfavorable for the past few months, Tron (TRX) is all set for a dominant bull run, and this is the right time for investors to invest in it.

Tron is a decentralized network that aims to change the entertainment world. The digital asset makes use of Peer-2-Peer and blockchain technology to share and receive contents via it. Additionally, Tron permits its users to store, publish, and own data to distribute contents. Most crypto enthusiasts believe that Tron is the future of the entertainment industry, and for some valid reasons (I am going to shed the light on them in this post).

Tron has also partnered with top companies in the world such as Peiwo, Obike, Giro, and the likes. The Tron Foundation aims to decentralize the internet in which its projected type of internet (Web 4.0) will permit anyone to freely create and share contents and applications without the use of ‘middlemen’ such as YouTube, Facebook, etc.

Tron’s breakout is looming, and investors need to start looking at the positive sides. The RSI seems oversold, but recently, it created a bullish divergence about a week ago. This shows that there is a possible reversal. The MACD formed a bullish divergence, though, it moved down again – but analyses indicate that it won’t last long.

Top exchanges resume TRX deposit And Withdrawal

One reason why Tron is on the path for a bull run is that top exchanges have commenced the deposit and withdrawal of TRX. A large number of exchanges have acknowledged supporting Tron’s migration by resuming TRX deposit and withdrawal.

Most exchanges have upgraded to Tron’s mainnet and have commenced TRX transactions as of July 12. The major exchanges that have resumed TRX transactions are, Bjex, Bitforex, Binance, Bitpie, Bittrex, CoinEgg, Cobo, Coinfalcon, Coinnest, Gate.io, Hitbtc, Huobi, Max Exchange, OKEx, and Upbit.

Tron’s potential partnership with Twitter

Besides Tron’s collaboration with Bitman, oBike, Zag, PornHub, Game.com, vSport, etc., a tweet by Sun on his official Twitter page indicates a potential partnership with Twitter:

Twitter has visited TRON office today! Very exciting!”

Following Tron’s mainnet launch last month, Sun’s tweet has sparked lots of speculations in the crypto sphere – as it appears, Tron seems to be creating new partnerships every day.

Some rumors lately state that Tron may partner with Alibaba – but before this, a collaboration between FX brokers Shiftmarkets has already begun.

However, an undisclosed notice has been scheduled to be announced on July 30th. As a result of this, lots of investors are anticipating, and Sun’s recent tweet may have ignited some upcoming speculations.

Tron’s Virtual Machine

Another feature that will change things for Tron and set it on the brink of a bull run is the way the digital asset aims to represent the developers of the sector. However, this aspect is one thing Tron has been taking care of through its blockchain; the launch of Tron’s VM (Virtual Machine) will occur on July 31st.

Conclusion

Despite current TRX price in the market, the digital asset has been forecasted to be among the top cryptos very soon. Consequently, the 11th top cryptocurrency in the market, Tron, is on the brink for a bull run due to its solid foundation, partnerships, and definite purpose. In the meantime, relax and see how things unfold.

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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 Maxpixel.net

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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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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