With the long expected and much hyped Tron Main Net being launched magnificently by the CEO himself, Justin Sun, several days ago, many TRX holders are growing impatient with the digital coin’s dismal price performance. In the lead up to the Main Net launch, the Tron community kept hope alive, predicting the cryptocurrency’s price was going to improve immediately after the launch.
Unfortunately, this is yet to happen; the prices are still in the red zone (if you talk about last seven days collectively). At the moment, the new Main Net, Odyssey 2.0, is still in its initial stage with testing for bugs and any code errors taking the largest share of attention. As a result of this, the bug bounty for anyone who successfully locates and reports a major bug in the system was recently raised to a whopping $100,000 payout.
This is mostly in a bid to strengthen the system from any future attacks or failures by detecting any vulnerabilities before the system goes completely mainstream.
So, what’s Tron’s performance now?
At present, Tron is being valued at $0.058, a 3.38% decline in last seven days.
In general, Tron like other cryptocurrencies in the market experienced a turbulent ride ever since the beginning of the year’ not just Tron (TRX), a lot of virtual currencies are trying everything possible to ensure their value rises (some are starting to recover, too). Tron is leading the pack in ensuring its currency succeeds with many enthusiasts predicting a bull run to happen before the end of second quarter of this year.
However, Tron has been experiencing a bad run of late contributing to it being undervalued to the $0.060 extent. The poor market conditions that have choked the life out of the market has also not made the situation any better for the promising virtual currency.
We must agree, the new Main Net is still in its initial stages so to speak, and therefore, traders are bound to be a little cautious. Therefore, the current market value of Tron (TRX) should not be seen as a representative of Tron’s overall potential; TRX will come back from this depreciation strongly and will start to appreciate again before the end of second quarter. Some of the reasons that might propel a Tron breakout include:
While cryptocurrency popularity is growing as a financial tool that levies low transaction costs on settlements, Tron is taking the lead in this area ahead of the other major cryptocurrencies.
On account of transaction speed, Tron posses the capability to execute approximately 2000 transactions per second, while other currencies like Ethereum lag behind with 25 TRS. A figure that cannot stand Tron’s efficiency.
Number of DApp Users
According to a tweet by Justin Sun, Tron has approximately 100 million dApp users, and it intends to grow the number even further by the third quarter of the year making Tron a heavyweight champion.
Tron’s high level of sophistication puts it in a good place for the altcoin to experience a price surge in the coming months. Its scalability level is even higher than Ethereum which is the second largest cryptocurrency by capitalization.
Justin is arguably one of the few cryptocurrency founders who is committed and driven to market their coins. His enthusiasm and contribution are key in making and shaping Tron’s future.
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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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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.
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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…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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%.
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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.
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“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.”
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