Connect with us

Blogs

There’s every reason to believe that Tron (TRX) is severely undervalued

Published

on

Tron TRX
READ LATER - DOWNLOAD THIS POST AS PDF

Tron’s stream of achievements has been impressive since it was founded, and things have only been faster and more intense over the last month. And yet, the coin’s value keeps going down (0.020 USD at the time I write this, and that’s after 17% increase in value within the last 24 hours). 

There’s only one explanation for this: Tron’s price is currently not being determined by the project’s or the asset’s value but by perception and the recent bad run that has plagued Bitcoin. There are plenty of reasons to think this, and here they are.

The Testnet and the Main Net was a success


Project Genesis, Tron’s new Main Net, was launched on time and it performed flawlessly. No vulnerabilities, delays, bugs. This is not as common as you could think, EOS launched its own main net at the same time, more or less, and it was a complete disaster. 

And the Tron Foundation has a program that encourages (and pays prizes to) members of the Tron community to search and find problems in the project’s code. They’ve found none because there are none, which speaks very well of Tron’s developer team’s competence.

BitTorrent


BitTorrent was much in Justin Sun’s mind even as Tron was founded. The organization’s white paper mentions it eight times in total. And now, he owns it. Tron will bring together it’s main net and BitTorrent and calls them Project Atlas thus bringing 150 million new users into the Tron community.

Almost 1300% growth in price

Tron started at $0.0019 and is now at $0.020. That means that every investor that has been in since day one now has earned almost 1300% in returns which is nothing short of spectacular.

Pornhub is now taking TRX


Pornhub seems to be quite enthusiastic about digital assets. First, it partnered up with Verge, and now it will also be accepting TRX as a means of payment for subscriptions. This will give Tron’s token a lot more exposure, it will bring in new users, and it will create demand.

Coin burn and lock up


Oversupply has been in potential Tron investors from the beginning. To assuage those fears and worries, a billion tokens were burned right after the Main Net was launched to limit supply. Then the Tron Foundation locked up 33.25 Billion tokens, and they will remain out of circulation until the year 2020 begins. Tron is making sure the token is as scarce as reasonably possible to create a deflationary trend that drives prices up. It hasn’t worked yet, but it’s the right move nevertheless.

BitTorrent acquisition, BitBox listing, and blockchain.org purchase

The list of Tron (TRX) strides does not end, even though the things mentioned above are not that old but still, Tron is hitting the deck extremely hard that there are more recent things we need to discuss. Last month, it was confirmed that the blockchain project acquired the world’s best p2p platform, BitTorrent, which means it now has access to 100 million BitTorrent users.

Now, a couple of days ago, Tron went ahead and purchased blockchain.org domain with the intention to become Google of the blockchain world. And, then right after that, BitBox, a crypto exchange owned by Line (popular messaging platform), added TRX as its very first cryptocurrency on the platform.

In conclusion

Tron has more history in a single year than most blockchain projects have achieved in years. It’s finding adoption, applications, the leadership delivers on promises, and the technology is superior and flawless. 

There is a stark contrast in the way the project and the coin perform as one is outstanding and the other one is dismal. This can only mean that the TRX token value is undervalued as of now. The market owes Tronix a serious correction and, that will make the coin’s value soar. No worries, that’s probably coming.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pixabay.com

Blogs

Understanding the Uses of Different Types Of Cryptocurrencies

Published

on

cryptocurrencies
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

Continue Reading

Blogs

New DoJ Ruling May Cripple Gambling dApps

Published

on

gambling dApps
READ LATER - DOWNLOAD THIS POST AS PDF

A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

Continue Reading

Blogs

7 Steps to Recovery from a Crypto Trading Loss

Published

on

crypto trading loss
READ LATER - DOWNLOAD THIS POST AS PDF

Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

Continue Reading

Elite