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Tron (TRX) Ready to Make Its Move

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The price of TRON (TRX) continues to make advances and has even become stronger against the US dollar. This makes TRON one of the rare cryptos to be advancing in the last few days, while the majority of them remains stagnant.

In the last few days, TRON’s (TRX) price has made a significant change, according to data on Bitfinex. The token’s price increased by 8.5% against the US dollar, while other altcoins and even Bitcoin (BTC) itself have failed to improve. Technically, TRX/USD has managed to reach, and even exceed its moving averages already. However, some data indicate that it is possible that additional advances may come.

The charts show that TRON is on a steady rise, and it is believed by many that this will continue for some time. This progress has caused TRX enthusiasts, as well as crypto analysts to try and find the reason behind it. At first, the change was thought to be technical, but after a while, it began to look like it might rather be fundamental. In the end, there are several reasons why TRON might be acting this way now.

Why is TRON’s price rising?

As mentioned, there are several fundamental factors that could be responsible for the change in TRON’s price. For example, it recently started its MainNet migration, which is going as smoothly as anyone could have hope for. The migration has seen TRX tokens leaving ERC-20 for TRON-20, which is a standard from TRON’s own network.

The migration has been going without any reported issues, and it already has over 350 nodes, as well as a block height of 9,294,675 that were migrated already. Additionally, the migration has been supported by numerous big exchanges around the world, including Bitfinex, Binance, HitBTC, Gate.io, and more.

The next fundamental factor that might be influencing TRON’s price is the recent acquisition of BitTorrent. This is something that received a lot of attention and is believed that it might help TRON bring on some additional changes to the way it works.

TRON’s founder, Justin Sun, has recently purchased BitTorrent, which has over 150 active users per month. This is seen by many as another one of the big factors that have influenced TRON’s price now, instead of doing so when the purchase was made. The market wouldn’t allow such an advance back then, which obviously isn’t the case at the moment.

TRON’s hard work finally paying off

TRON has certainly been busy in the last half a year, which can easily be seen while trying to mention all that the coin has managed to achieve. Continuing with the listing of various fundamental factors that are suspected to be the reason behind its price surge, we have the launch of TRON Virtual Machine (VM).

According to TRON’s plans, the VM’s TestNet should be going live today, July 30th. Additionally, the company’s recent announcement has stated that it might go up to 80% faster than Ethereum. This is expected to attract a lot of new developers who value speed and efficiency, which is something that Ethereum could offer so far.

Finally, a large part of TRON’s success might lie with the secret project that was rumored to be in the works by the company. The secret project has become one of the biggest TRON mysteries, and the internet has been flooded with speculation regarding what it is. It is expected that TRON will finally announce it at the launch of the TRON VM.

So far, all that TRON enthusiasts have had to go on was Justin Sun’s statement that the new project will add more than 100 million users to TRON’s platform. Obviously, whatever Sun is working on is absolutely huge, and thanks to all the speculation and discussions, TRON has received much more attention than usual.

Now, even though the secret project has had everyone hyped for weeks now, there are still many who are genuinely concerned that the project might be overhyped. One of the biggest reasons why big projects turn out to be not-so-big is the fact that they become overhyped while the users are waiting for them to come.

Once they finally arrive, people end up being disappointed, since they have expected much more. This is one of the biggest fears regarding the secret project since many are afraid that all the theorizing and speculating has left TRON enthusiasts expecting too much. TRON can do one of two things regarding this – cut out the hype, or manage to deliver on everyone’s expectations. Whatever happens in the end, the secret project won’t be so secret soon, and we will finally know if it was worthy of all the excitement.

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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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