Connect with us

Currency Market

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

Published

on

Tron TRX
READ LATER - DOWNLOAD THIS POST AS PDF

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.

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

Photo by Aziz Acharki on Unsplash

Bitcoin

Why Blockchain Projects Keep Failing

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.

So, What’s the Problem?

For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.

What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.

Project Success Starts at the Team Level

The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.

Unfortunately, this mentality isn’t just…

Continue Reading

Altcoins

STEEMIT Running Out Of STEAM?

Published

on

By

Steemit
READ LATER - DOWNLOAD THIS POST AS PDF

Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.

If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees like…

Continue Reading

Altcoins

The Three Biggest Problems with Crypto

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

Who hasn’t been scammed at least once?

The crypto community is overrun with scammers taking advantage of inexperienced and naive users. What’s more, scams don’t only occur on an individual level.…

Continue Reading

Elite