The recent change in market has seen an increase in the value of many cryptos, but TRON (TRX) seems to be the one that is doing best during the new period of recovery. Its soon-to-be launch of MainNet has seen a lot of supporters joining TRON, including 8 large crypto exchanges.
Cryptos recover from a price drop with TRON taking the lead
There has been a lot of desperation in the crypto world prior to Monday, May 14, where cryptos experienced yet another shift in their market value. The prices were dropping at an alarming rate, which caused many investors to rethink their investments into digital currencies.
Ever since yesterday, however, the situation has been nothing but great, with a lot of coins seeing an increase in their value once again. The new period of recovery has started, and it would seem that TRON (TRX) is doing better than any other crypto. It is currently the only digital currency whose increase in gain went up to double digits and has profited by 11%.
A lot of other cryptos, despite the fact that their value is also on the rise, have their gains reduced to a minimum. The closest crypto to TRON is Stellar Lumens (XLM), and even Stellar has only 8% increase. TRX’s current market cap is at $4.9 billion, and the token’s individual worth is at $0.074. However, many believe that this is just the start for this crypto and that it will rise even more in the coming days.
If so, it will definitely be a consequence of TRON’s recent victories regarding its technology development. After all, it did successfully launch its test net, with MainNet’s launch soon to follow. Prior to that, it already had many successful events and projects, including project Genesis, VM launch, SR elections, as well as token migration.
TRX has also been listed on many exchanges recently, all in anticipation of the MainNet, which is expected to completely change this token’s future. Finally, the use of ERC-20 tokens will be eliminated, and TRON will officially get its own coins. It is more than understandable for all the excitement that envelops its community.
TRON’s support includes big names
With the MainNet’s launch coming closer and closer, the currency has been upgraded to many different exchanges that are willing to help out with coin’s migration. Among them are the 8 big exchanges that have announced their support and help during this important period, especially since all of the activities involving trading will be frozen during the token transformation.
According to the exchanges, all of the user’s assets will be migrated automatically, and their post-installment restoration is ensured. The new platform will then bring a lot of new benefits, and is also expected to increase the token’s price further than ever before.
Among the first exchanges to stand beside TRON was Bit-Z, which announced its support back in April. Its total market cap is at around $254 million, and its trading of TRON is definitely helping it out. TRX trading takes the second place in this exchange’s business transactions, and it accounts for 15.62% of the current trading volume.
The second one to announce its support was Bittrex, which decided to do so on April 27, and TRX is currently placed third on the platform’s most traded list. After Bittrex came Bitfinex, which decided to stand beside TRON even though it is not that high up in the exchange’s trading activities. Recent exchanges that pledged their support in may include a less-popular Bibox, as well as a trading giant Binance, who joined in on May 8.
Binance’s market cap exceeds $1.39 billion, and TRX holds the 4th spot as the most traded currency, so it is obvious why this action alone was a large event in the TRON community. Finally, the last exchanges to join so far include Coinnest, Coinrail, and Zebpay.
Many more announcements are expected as we advance towards May 31, as many others are expected to join TRON on its journey to greatness.
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 own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
How Can Foreigners Get Loans in Singapore
Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.
At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary.
What defines a foreigner in Singapore?
A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…