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Why TRON (TRX) is as Promising as the Original Cryptocurrency

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TRON (TRX)
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December was a cornerstone month for many uprising cryptocurrencies and so we had a chance to see many of the digital currencies hitting the roof with its rising values, which wrapped up the year of 2017 as a successful year for anyone who decided to invest in “new money”.

While Bitcoin was setting the market on fire with its current value of 15,000$ per single Bitcoin, other currencies thrived as well with Litcoin rising for 333% in only a couple of days and Ripple jumping with its value for over 80% of increase.

However, one digital currency has managed to get over 500% of increase during this month, thus making it one of the most promising new digital currencies.

TRON (TRX), Tronix is one of the most promising digital currencies currently available on the trading market of cryptocurrencies and together with other currencies that are experiencing rise of popularity and value as well as general expansion, it makes a great opportunity for trading and investing.

But why you should invest in TRON? In order to be certain that your investment is made to be promising and eventually cashable, you need to know what you are investing in, so what is TRON exactly and why its value jumped for 500% in the past month?

TRON and its Value to Ethereum Technology

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If you are into cryptocurrencies, whether you are investing or mining, or just enthusiastically following up with the latest news revolving around new age digital money, then you surely know what blockchain technology is. For those who are not as familiar with this term, simply put, blockchain technology is a way of storing data privately without having a third party involved, which also enables private, non-mediated, un-interrupted transactions that are made to be cheap, economical and efficient.

Bitcoin is made based on blockchain technology and as other digital currencies are made inspired by this currency, all currencies are operating on this system, making you enabled to make your transactions privately. Now, although TRON is similar to Bitcoin, one must take the liberty to link this currency rather to Ethereum than to compare it with Bitcoin. This is the case because TRON is one of the first currencies to be involved with micro transactions, being compatible with Ethereum and the way Ethereum works.

In case you are not familiar with Ethereum, here is what this blockchain based value actually represents – explaining how this mechanism works will also highlight the importance and potential of TRON as well as casting a light on its sudden value increase and popularity.

What is Ethereum and How TRON is linked to it?

Ethereum is a blockchain based technology inspired by Bitcoin and its original design that made hundreds of people rich. But, unlike Bitcoin’s blockchains that serve the purpose solely for mining coins and making transactions, the creator of Ethereum had a wider picture of what you should be able to accomplish with blockchain technology. So, instead of only using blockchain for transaction, Ethereum is made to enable not only transactions within the network, but also  permitting users who are part of Ethereum community to trade anything of value – that would include shares and anything else that has a certain value and can be traded. In a way it represents a closed community that enables inner growth also regarding development of the internet, put in simple words.

Any user, who is working on the Ethereum, in case the user owns knowledge that would enable him to, can work on creating any type of applications that can be used and traded within Ethereum. All transactions and app development with Ethereum, which is based on blockchain technology, are contributing to decentralized platform that enables free transactions with having a third party getting involved. The same goes for applications – there are no third parties getting involved in the sense of promoting applications or acting as a mediator between the user and creator of applications being used – that said, all applications are freely distributed, programmed and used.

TRON is functioning exactly as Ethereum, so instead of having only Tronix, a digital currency that cab used for trading and transactions, like with Bitcoin, you actually have TRON as a platform and a patron of Tronix – TRON’s digital currency as Ethereum has Ethereum tokens you can earn while working on Ethereum apps and development.

TRON is also accepting other currencies except TRX, although this currency is their official currency. TRON is also working on developing decentralized platform where you can perform micro transactions and trade with any type of value as well as work on developing their network – the same blockchain technology opportunity that Ethereum is using.

Should You Invest?

With the current state of the market and the general demand, TRX seems to be very promising currency, where financial experts are predicting continued increase of this currency’s value in the following year as well. With the recent dizzy increase of Bitcoin, other cryptocurrencies’ values are also experiencing the same fortune, while TRX is on the top of that rising scale of success and increased demand with over 500% of increase in the past month.

With the current value of $0.034, TRX is still widely available for purchase and economical to invest in. Just remember those who had purchased Bitcoin when the value was 14.000 times lower than now – those same investors now have a chance of owning millions of dollars worth Bitcoins.

To jump to our final conclusion, TRX seems to be the promising offspring of rising cryptocurrencies – inspired by Ethereum and upgraded as a value that could be used for more than just making transactions, you are investing in more than just monetary value when investing in TRON and its currency – Tronix.

We will be updating our subscribers as soon as we know more. For the latest on RDD, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

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Ethereum Flippening Bitcoin In 5 Years?

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Ethereum flippening Bitcoin
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The dominance of Bitcoin (BTC) in the crypto markets due to the bear market, currently stands at 55.2%. Ethereum’s dominance is a distant second at 10.8% of the total cryptocurrency market capitalization. This is despite the fact that the value of ETH is still shaky with many traders postulating that it could get worse for the digital asset before it gets better. Ethereum’s decline has been blamed on three factors outlined below:

  1. Congestion issues on the network
  2. ICOs cashing out the ETH raised in the ICO boom of last December to late February this year
  3. Traders shorting ETH due to the above two reasons

Ethereum Flippening Bitcoin?

In a tweet on the 18th of September, Weiss Ratings stated that ETH will grab 50% of Bitcoin’s market share in 5 years. Doing the math, this means Ethereum flippening Bitcoin in the markets with a dominance that will be around 38%. BTC would be at half its current value, and at 27.6% of the total crypto market cap.

The full tweet from Weiss Ratings would go on to explain why this would happen:

“#Bitcoin will lose 50% of its #cryptocurrency market share to #ETH within 5 years, due to it offering more uses and being backed with superior #blockchain technology. We completely agree – unlike #BTC, which is a one-trick pony, the limit of…

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Crypto News: What Happened To Bitcoin?

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The crypto news of the day is what the heck happened yesterday in Bitcoin? In a matter of 2 hours, we saw the Bitcoin price go from 6320 to 6080 on Bitmex and then rocket higher to 6580. In the process, stops were cleaned out for both longs and shorts.

For all of 2018, Bitcoin has been a perfect vehicle for swing traders. The market has been playing support and resistance levels perfectly. The play has been to buy Bitcoin around the 6000 level and sell above 7000. Until this pattern changes, it’s what traders and investors need to keep doing. Yesterday’s price action, while crazy and extreme, does still support this strategy.

Why the crazy move in Bitcoin?

There are a number of thoughts as to why Bitcoin made the move that it did. They are technical related and don’t involve a fundamental reason. The first is that there are bots on Bitmex that go hunting for stops. The bot utilizes inside knowledge of where the orders are clustered. If the bot can move the market to where the stops are, it can get filled.

The second is that yesterday was the expiration of the CBOE futures contract. I am an ex-futures trader (now crypto) and know that expiration days can see some crazy moves. This is because it’s the last day to close a position on that futures contract.

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XRP Rally Lifts Bitcoin and Ethereum

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It’s quite surprising to be writing this, but the XRP rally lifted Bitcoin and Ethereum off yesterday’s lows. As I wrote yesterday in covering Bitcoin, my bullish enthusiasm was dampened by Bitcoin’s $300 drop. XRP rising has given renewed hopes that the lows for the year are in and higher prices are ahead.

XRP Rally

The most frustrating part about the XRP rally was the news put out by our competitors. We read the XRP rally was due to xRapid launching soon and also that a major Saudi Arabian bank had joined the Ripple network for international payments. I’ve been trading cryptocurrencies long enough to know that no one knows the exact reason why something happens in the market. This is a major buy spike that came out of left field.

Bitcoin

I am certainly feeling better about Bitcoin now than I was 24 hours ago. The lack of volume and the price action felt like the market was heading lower. Today, however, we are back around the 6350 levels.

The problem is that it still not enough to make me buy more Bitcoin. We are still in the middle of the range between 6100 and 6500. This neutral zone is not an area that I want to be putting on trades. Yesterday’s jump was indeed positive, but need proof that it was not…

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