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Tron (TRX) Ready to Make Its Move - Global Coin Report
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Tron (TRX) Ready to Make Its Move

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Tron
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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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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

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