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Tron (TRX) Ready to Make Its Move

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Tron

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

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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