Connect with us

Currency Market

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

Published

on

unifox-ad
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

Bitcoin about to drop to 4k, how will the market recover?

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

It’s no secret that the cryptocurrency market (including Bitcoin) has been under a bearish run since last December 17th and it’s been going down steadily over the previous eleven months. But nobody was ready for the way in which the bears hit the market this November 14th.

It was just insane. The market capitalization for crypto went to its lowest point in a very short time. Bitcoin, which is crypto’s canary in a coal mine (so to speak) dropped below the 5k mark. It’s trading at $4,443 as we write this article and is expected to hit the 4k mark if things keep going in the same direction.

Can the trend change? Is there any good news to report? Any reason to be hopeful? The answers are: yes, yes, and yes.

The trend can and will change. We know this because drops as dramatic as the current one have already happened four times over the last ten years. Every time the market has bounced back to reach previously unexpected (allegedly impossible) heights.

About good news to report. There’s plenty. Blockchain projects like Ripple, Cardano, Stellar Lumens, Tron, and some others have reached impressive milestones this year. They are gaining adoption, becoming useful in the real world and securing strategic partnerships.

Also, even in the bearish climate, the crypto infrastructure has kept snowballing so you’ll be hard pressed to find any place in the world in which you…

Continue Reading

Blogs

Ripple’s XRP finds it tough to halter the incessant crypto market crash

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

Many in the crypto community will remember November 15 as one of the worst single-day correction thus far this year (XRP got a minimal shock that time too). After last week fall, Bitcoin price found support at about $5,500 and now it has fallen by 15.16% over the previous 24 hours to stand below $4,523 (the lowest since October 2017).

Several other cryptocurrencies have dived with Ripple’s XRP being an exception (the least loser). In fact, XRP has already overtaken Ethereum again (been the case for a couple of days now) to take up the second position as the largest crypto by market cap.

Even though the whole market is in a severe bloodbath and each of the cryptocurrency is facing double-digit losses, XRP is still fighting hard with the bears. Perhaps, that sounds interesting. What next for XRP? Is it time for Ripple’s XRP to take the top spot?

Ripple’s XRP, the least loser; will it take on Bitcoin?

XRP is trading on the somewhat positive side (at least psychologically) as compared to the rest of the cryptocurrencies. For the past month, it has grown steadily, and at the time of writing, it has displaced ETH from second largest crypto by market capitalization already. Currently, XRP trades at around $0.454 which is still on the red but compared to an initial of $0.49, the native token of Ripple is doing positively.

Relating to 17th November last year, the…

Continue Reading

Altcoins

What’s Wrong with Crypto?

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Sponsored by Global Coin Report and ICOsuccess

Hey! Are you fed up with the crypto market?

Hungry to see the charts bursting with green again?

The purpose of this very short survey is to get your thoughts on what is holding back our industry and collectively brainstorm ideas for turning it around.

We are looking to get a couple thousand responses over the next couple of weeks, and we’ll be sharing the aggregated results with you once we’re done!

Click below to do your share in bringing back a thriving crypto market!

Continue Reading

Elite