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Tron to hand out three million USD in charity; Sun to speak at UNCTAD event

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In a bid to back the use of blockchain for global good, Tron, which is one of the most decentralized platforms in the market – has donated $3 million to BCF (Blockchain Charity Foundation). Tron’s pledge came a month later after the BCF stated its intents to partner and donate to the United Nations Development Program (UNDP).

The partnership between UNDP and BCF will help to foster the use of blockchain apps for social and economic good. Tron, through its CEO Justin Sun, has pledged to be pivotal in the campaign for blockchain apps for social wellness. The blockchain project has also stated that it will back this goal to leverage blockchain for the charity program.

The blockchain tech is transparent, traceable, and can get used for efficient charity programs. However, a Medium post stated that BCF (a charity Foundation by Binance) trusts that incorporating blockchain technology into charitable programs will produce a system of trust and dependability.

Nonetheless, it is necessary to take note that when BCF began, it saw a charitable system capable of fraud and misuse of charity funds; at the launch time, Binance stated:

We’re taking this opportunity to turn BCF vision into reality: Binance is building a fully transparent donation platform that enables traceable and flexible multi-currency donations recorded on the blockchain.”

It is also vital to know that Tron is poised to be forefront in the charity industry as its CEO said,

As a Super Representative, I am fortunate enough to have earned the trust of the community. I believe it is my responsibility to lead the movement in applying blockchain technology to improve people’s livelihoods around the world. I will dedicate the resources I have gained from co-governing the network to causes that will benefit and empower society. I hope my actions will inspire more people to tap into the great potential of blockchain technology to truly make a positive impact.”

Mr. Sun-led blockchain project is seeking to get the solution to power blockchain technology around the world and has told the community to join the movement that will take this technology onto another level in a few years to come.

With its existing collaboration and the upcoming ones, Tron is assertive that it would change the charity field; foster the current structure, and encourage more people worldwide. Undoubtedly, the company’s notable donation and support will go a long way in empowering the society and make a good impact in their lives.

Also in the bid to encourage the charity field in the blockchain world, Binance has pledged 100% of its listing fees to the newly formed wing: BCF (Blockchain Charity Foundation).

Subsequently, it has been reported that Tron’s CEO and BCF will be present at the World Investment Forum, which is held by the UN (United Nations) Conference on Trade and Development (UNCTAD) this week, specifically on Oct. 24th.

The Forum will solely talk on how blockchain will help sustain the Social Development Goals (SDGs). If you live anywhere near to Palais des Nations, you can listen to Justin Sun’s speech there.

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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 HeatherPaque/Pixabay

Altcoins

Secret Behind Binance Coin: Why is BNB Outperforming Other Coins

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The crypto market has seen quite a lot of volatility in 2019, although not all of the price changes were bad, as they were in 2018. In fact, many coins saw significant growth. Bitcoin (BTC), for example, recently managed to breach one of its major resistance at $4,000. Many have predicted that breaching this roadblock will mark the next stage in Bitcoin’s growth, and potentially its return to higher levels.

However, while most of the market has been seeing significant gains in the past several days, one coin still outperforms them all — Binance Coin (BNB).

So far, in 2019, Binance Coin has shown a strong will of its own, often seemingly being immune to the market trends. While the coin did see a significant loss in 2018, it spent most of 2019 in recovery, even while the last remnants of the crypto winter still tortured the rest of the market.

Back in the early days of January 2019, the coin’s price was barely above $5. Now, however, only a bit over two months later, BNB price is at $15.86, and still seeing growth. The coin never suddenly spiked, but instead, its growth was steady and stable. Whenever it approached new resistance level, BNB would slowly carve its way through it, turning it into support, and continuing on.

But, what is allowing it to break free from…

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Bitcoin

Why Bitcoin Price Remains Stable Before the Expected Hike

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The cryptocurrency rallied a few days back, but now, it has moved closer to 38.2% Fib level. Investors are enthusiastic that as it remains at this level for some time, and stabilize. The next move in Bitcoin price will take it to the 61.8% Fib level. This is when the hike in the price of the cryptocurrency will occur towards $4,200. However, after the surge in price, the upcoming weeks will see the Bitcoin falling swiftly to $3,000.

The truth is that if this move fails to occur, there may not be an improvement in the value of the digital currency. Also, this movement will enable the “bullish gartly pattern” we saw on the BTC/USD 4H chart to become a reality. Also, we are expecting that the Bitcoin price will decline the same way it has been recovering since early February.

Why this week’s closing price matters

Presently, Bitcoin price is still trading above what the intrinsic value is showing on larger time frames. However, we can see adequate room to accommodate short-term rallies. The price at which Bitcoin closes this week is very critical. It will be a clear indication as to how the digital currency will move in the coming weeks.

If Bitcoin closes at a price above $4,000, we are hopeful that the correction may come from early next week. On the other hand, any…

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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