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TRON (TRX) Shuts Haters Up as it Comebacks with an 11% Price Increase
TRON (TRX) has seen a significant increase in price after the last week’s major drops. The trading momentum is finally solid for this cryptocurrency, which is a good thing considering the upcoming migration, for which the company will launch TRON VM v.0.1.
TRX shows signs of recovery
This weekend saw a big increase in gains for all of the top cryptos, despite the bearish pressure that they have experienced recently. The process of recovery finally came and hit the cryptos hard in the last 24 hours. There is still a long way to go before the market can stabilize again, but the first few important steps have been taken.
The price of TRON has increased by 11.39%, which mark the highest gains among the top 10 cryptos. TRX value managed to climb back up to $0.0709, and many are interested to see where it is going to settle. Thanks to this recent development, TRX managed to gain around 10.74 over BTC, as well as 6.94% over ETH.
The current demand for TRON seems to be rather genuine, considering its trading volume in the last 24 hours, which was at around $602.55 million. Due to the bearish pressure experienced by the market, it might prove to be a challenge to sustain the current price.
TRON will soon go through a migration
Another big experience for TRON is a soon-to-be migration, which the company is planning. They have already scheduled the launch of TRON VM v.0.1, which will occur on May 25. Its creator, Justin Sun, has stated that TRON VM (Virtual Machine) is going to use a compatibility adapter, which will allow it to work with ETH VM.
He also stated that May will be a big month for this crypto, and the launch of TRON VM will allow Ethereum’s developers to migrate projects from ETH dApp to TRON.
TRON’s community has also commented on the recent development on various social networks. On Reddit, for example, there have been posts that say that TRON might push the ETH to the side. This is expected due to TRON’s promises of major speeds and minimal fees. If the erc20 tokens, which are keeping Ethereum alive decide to move to TRON, then the future of ETH might be obsolete. Of course, even the greatest TRON enthusiasts understand that this won’t happen overnight.
Another Redditor by the name of Crypto Papi says that the cryptos are clearly in a competition phase, even though everyone claims that there is enough room for all of them. The battle for supremacy is at hand, and whoever wins will be able to dictate the future regarding the tech adoption.
Even on Twitter, there have been many posts regarding the TRON’s success, and one user, in particular, has stated that their decision to start dealing in TRX was the best one yet.
It would seem that TRON has managed to get some good news after all, despite the last week’s alarming price drops. This is just what the investors needed to regain their confidence and trust in this crypto.
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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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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
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…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…
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