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Tron (TRX) still struggles, but recent cheerful developments will help

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Tron TRX

Tron (TRX) hasn’t been at its best since last week (we should rather say as the year started) and at the moment, it is still trying to get its momentum. The cryptocurrency failed to break the 50-day Moving Average last month; still, Tron’s slow stochastic is showing a bearish movement. Although the market isn’t yet stable, Tron (TRX) is trying to recover from its immense losses.

Tron has accomplished a lot recently, and lots of positive news are flying around it. This is due to the launch of its TVM and the acquisition of BitTorrent. It is necessary to know that Tron’s VM (Virtual Machine) will assist in the development of new Dapps (decentralized applications) and other upcoming projects on its network.

Additionally, during the launch of its Virtual Machine, its CEO, Justin Sun, also explained a ‘secret project’ called Project Atlas. Sun made it clear that Project Atlas will help merge BitTorrent and Tron’s network. He also said that Project Atlas doesn’t need a mining system, rather, there will be an exchange of ‘available’ tokens around users.

Moreover, Tron’s daily transaction has increased to nearly one-third of Ethereum’s. According to a statement made by TRX Colony on Twitter, in which Justin Sun twitted himself. It says:

TRX stared Aug. with only 30,100 transactions a day. By the end of the month, the average of daily transactions was nearly 1/3 that of Ethereum. Tron is the fastest growing coin, this rocket ain’t stopping for anyone.”

Sun himself stated before the launch of Tron Virtual Machine that:

TRON is 80 times faster than Ethereum. With 14 years of experience, BitTorrent is providing a world-class service to 100 million users in 138 countries. Add the two together and you get the largest and most advanced peer-to-peer network in the world!”

These projects/developments are positive ones but despite all these, there isn’t any positive increase in Tron’s price yet. At the time of writing, TRX is priced at $0.02517 and it is in the red. Since it is the first day of the week, its trading volume hasn’t increased yet. It is likely that the price and the trading volume of Tron would increase once more audience begin to know about Tron’s recent positive developments from last week or so.

Tron’s positive developments are seen as a support for its community. The digital asset is seen as Ethereum killer and Sun recently stated that “Tron (TRX) is a better network than Bitcoin (BTC) and Ethereum (ETH) in terms of decentralization.”  As it seems, there probably is a lot more to come from Tron yet.

Nevertheless, the market seems to be moving favorably during the past few days, which clearly shows that things are beginning to turn into shape. Tron as a company will also turn into shape so as its price and volume. We hope Tron’s positive development have a good impact on the price of TRX in a long run.

We shouldn’t neglect the fact that this is the best time to buy TRX as the market begins to recover again. Although the next couple days will be determining – we hope that things turn out right.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Aziz Acharki on Unsplash

Currency Market

12 Peers Capital Markets Purchases DigitalBits XDB Token

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12 Peers Capital Markets , a broker-dealer and capital markets firm has announced its support for DigitalBits, a blockchain protocol focused on consumer digital assets such as loyalty points, rewards, and branded stablecoins.  The traditional market brokerage firm has purchased the DigitalBits XDB token, after recently announcing “a new found investment thesis focused on identifying blockchain projects that improve efficiencies across global markets,” it said in today’s announcement.

DigitalBits is an enterprise-grade blockchain protocol for supporting consumer digital assets, specifically branded currencies.  The company believes that branded currencies play an integral role in driving consumer behavior, but many of these programs are dated by today’s technological standards.  “These limitations have stifled value transfer, resulting in the accumulation of large amounts of idle capital – in 2017 US corporations held in excess of $100 billion in unused points liability,” the DigitalBits experts explain.  

The DigitalBits blockchain supports tokenization of existing and new consumer digital assets.  The XDB Foundation, which was formed earlier this year, is a neutral agnostic non-profit organization to enhance the DigitalBits blockchain and ecosystem, engage partnerships and building a robust ecosystem for users. Commenting on the 12 Peers Capital Market announcement, XDB Foundation’s Managing Director Michael Gord said that it is great to see traditional firms show interest in blockchain technology. …

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Currency Market

AllianceBlock Completes TGE, Lists ALBT Token on Uniswap

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Big day for the Dutch-based AllianceBlock project today. After more than two years in development, the stealth mode is finally off.  AllianceBlock announced its completion of the Token Generation Event (TGE) . The newly generated AllianceBlock token (ALBT) was also instantly available on Uniswap – an automated liquidity protocol that has been gaining traction recently. Unlike centralized and most decentralized exchanges that match buy and sell orders to determine prices and execute trades, Uniswap uses a simple math equation and token pools, plus ETH to execute trades.

AllianceBlock Uniswap
 

Just weeks ago AllianceBlock reported wrapping up its private sale, which was 1,200% oversubscribed and helped raise $0.5 million. The next step for AllianceBlock is coding the platform and expanding the ecosystem.  The team is gearing up for the mainnet launch, which is set for the second quarter of 2021. The AllianceBlock platform is based on the Prometheus Protocol, which is a multi-layered architecture designed to solve some of the biggest problems of the traditional finance (TradFi) industry while funneling potentially trillions of dollars of traditional capital into the DeFi industry, the company says.

AllianceBlock is raising the bar high – it is building a “globally compliant decentralized capital market” by utilizing a blend of several decentralized technologies. To help bridge traditional markets and DeFi, the company is focusing on three cornerstone issues — compliance, security, and user experience, which are…

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Could The Rise of Yearn Finance Harm the Long Term Viability of Bitcoin?

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Cryptocurrency

Even in the highly unpredictable world of crypto, 2020 has made for an exceptionally volatile year so far. 

The summer months have been punctuated the unprecedented rise of the decentralized finance (DeFi) movement followed by heavy falls across the cryptocurrency landscape. 

The jewel in the crown of DeFi, yearn.finance, was catapulted to values upwards of $38,300, and a market cap of over $1.1 billion just months after its launch. Backed by advanced and practical DeFi applications like smart contracts and blockchain-based insurance, DeFi tokens like YFI are supported by exciting and tangible technology.

Given their advanced frameworks, could this mean that the DeFi boom for yEarn and its counterparts will harm the long term viability of more speculative traditional cryptocurrencies like Bitcoin? Or could the world’s oldest and most famous cryptocurrency push back against the brave new world of decentralized finance?

Why Yearn.Finance is Different

YFI is certainly a cryptocurrency with a difference. Writing for Forbes, Joseph Young has attributed the rise of Yearn.Finance to four major components: a unique supply, an active community, a respected developer, and innovative products. 

Significantly, yearn.finance developer, Andrew Cronje, rebranded and relaunched yearn.finance with a suite of new and cutting-edge products. He also released YFI with no premine, a significantly limited supply of just 30,000 tokens, and no founder reward. 

These factors made the…

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