No coin or token has been spared from the recent market decline that has seen the total market capitalization drop from $400 Billion only last week, to current levels of $324 Billion. Earlier in the day, this value had dropped to $303 Billion leaving a lot of crypto-traders worried. This market decline has also seen Tron (TRX) drop from $0.10 on April 30th to new lows witnessed on May 29th at $0.0574. This is a drop of 42.6% in a month. TRX is currently trading at $0.065 at the moment of writing this.
But Tron (TRX) is still a fan favorite and a safe bet for any investor out there willing to weather the ups and downs of the turbulent crypto-markets.
To begin with, the MainNet is finally here and will be released on the 31st of May. The MainNet will not do an immediate token swap but will undergo vigorous testing for 24 days up until the 25th of June when the Genesis block will be launched. This period of testing will allow for any security vulnerabilities to be discovered ahead of time to avoid scenarios such as the ones being experienced by EOS.
Secondly, Tron has just been ranked first in Github commits once again this week. The project now has 169 commits compared to its closest rival that has 117. This proves that it is a fan favorite. It is also the favorite of exchanges in terms of those which are willing to assist in the token migration on the 21st of June. The current number stands at 18 and is surely to grow before the 21st of next month. The exchanges are as follows:
Thirdly, the project is being run by an enthusiastic young CEO, Justin Sun. He is a protege of Jack Ma and was the first to graduate in an University founded by Mr. Ma. The Hupan University recently held its first graduation with Justin being the first millennial graduate of the institution. This is a clear indication that Tron is in good hands.
Last, but not the last reason why TRX is still a safe bet moving forward, is the cheapness of the token. TRX is currently trading at $0.065 as earlier mentioned and available in 99 exchanges. This means that it has a wide reach in terms of trading platforms with more listings to come in the future. TRX will indeed be able to become a Top 6 Coin Once Again.
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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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Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
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 been…
My Crypto Heroes Announces Issuance of MCH Governance Token
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:
During December 2020 the first governance…