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Tron (TRX) surges by 6% while the whole market stays calm

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Tron TRX

Thursday, 4th October saw a mixed crypto market with some of the coins still caught-up in the bearish atmosphere while others are staying calm. Despite the boring market trends, some cryptocurrencies have seen surprise spikes. Talking about the top 15 digital coins, only Tron (TRX) is enjoying an accountable price increase today.

At the press time, Tron (TRX) shows a spike of 6% in the last 24 hours. The only other cryptocurrency accompanying it is EOS after surging by 2.47%. In comparison, EOS is moving up at a meager rate, and the only name that market can hear right now is TRX.

Tron has not shown a price increase in the last 24 hours only, but its last seven days average shows green numbers too. Talking about 7-day average, TRX has the second best being 2.63% in green after Binance Coin’s 3.41% (BNB is up by only 0.33% taking the last 24 hours in account). At the time of writing, Tron (TRX) trades at $0.02269 with a market cap of $1,498,620,309.

Tron’s claim to the fame is its aim of decentralizing the whole internet as its primary objective. The company’s USP is that it aims to make content creators reach their audiences and get paid directly, without any mediators like Youtube.

Over the last few months, Tron has been in the news (quite a lot) with numerous projects and announcements being tied to the blockchain company. It won’t be wrong to say that Tron has been the ‘center of inclination’ in the crypto-universe for the last few months. The MainNet launch, blockchain upgrade, token migration, BitTorrent acquisition and constant listings on top exchanges have played an excellent role in the growth of  Tron (TRX).

The latest spike in the price of cryptocurrency is believed to have come from the success announcement of uTorrent Web, a service that Tron Foundation launched just about a month ago post their BitTorrent purchase.

The CEO of the company, Justin Sun, took to Twitter today where he announced the initial success of the uTorrent web. Mr. Sun affirmed that the service has reached 1000K daily active users already, which indeed is a great achievement given that it is merely a month of age.

Apart from the uTorrent web success, another potential lifter for recent TRX price is the fact that Bitfinex announced fiat expansion for the cryptocurrency today, too. The newly added fiat pairs by the exchange include TRX/EUR, TRX/JPY, and TRX/GBP. Bitfinex tweeted:

Subsequently, Exodus, a widely-used crypto wallet announced its support for the TRX mainnet just yesterday. Thanks to the recent Exodus support, users can now exchange the cryptocurrency with almost fifty assets directly. Some of them include DGB, XLM, OMG, XRP, BTC, and ETH.

TRX also caused a stir in the crypto sphere when Binance announced tron trading competition.

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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.

Image courtesy of Geralt/Pixabay

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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Currency Market

GDA Group Launches Initiative to Introduce Disruptive Technologies to Family Offices

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TORONTO, CANADA OCTOBER 7, 2020 The GDA Group, a financial institution focused on disruptive technology, is launching a new Global Family Office Wealth Network to connect families and institutional investors with exponential thinkers powering the future of industry using disruptive technologies. The GDA group is the parent corporation of GDA Capital and Secure Digital Markets — a capital markets firm focused on merchant banking for digital assets and a trading platform, which has completed over 2 billion dollars in over the counter (OTC) digital assets transactions respectively.

The first initiative held by the Global Family Office Wealth Network is the Global Family Office Summit, a quarterly event happening on October 20th that is bringing together innovative asset managers, more traditional family offices and private equity firms, global regulators and unicorn disruptors to discuss technology that is changing the world. This first Global Family Office Summit is accessible by zoom and is also the first gathering of private wealth that is taking place in the metaverse at the Crypto Convention Centre in Decentraland.

Jean-Luc Gustave, the GDA Group’s VP in Asia, commented on the news with:  

“After a strong summer that saw a significant increase in institutional participation in disruptive technology ventures, many…

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