At the time of writing, Tron (TRX) is priced at $0.03669 (went up by 6.08% in last 24 hours) with a market capitalization of about $2.3 Billion, according to CoinMarketCap. The digital asset has been trending due to its recent activities. It is worth noting that Tron (TRX) stands No.1 out of the top 10 most mentioned cryptocurrencies on Twitter. Others are BTC, ETH, LTC, XRP, XVG, DGB, BCH, ADA, and EOS, according to CoinTrendz.com. It seems Tron’s CEO, Justin Sun is making sure Tron is on a futuristic path for mass adoption.
Why is Tron (TRX) trending globally on social networks such as Twitter? It is because of its goals to transit the world to a decentralized future.
Tron’s BitTorrent acquisition is not an ordinary thing
Tron is a blockchain platform that uses the decentralized technology for content creators to create and share contents. The blockchain platform also enables content creators to own their data without restrictions. As mentioned above, the blockchain protocol went ahead to acquire BitTorrent.
After the launch of Tron’s mainnet, the co-founder of BitTorrent recently declared that Tron has purchased BitTorrent for $140 million USD. Although, this acquisition hasn’t been confirmed by Sun yet.
Wondering how this all started? Well, there have been speculations that Tron will acquire BitTorrent since last year due to the fact that Tron Foundation was interested in the company. During that time, Sun placed a restraining order on BitTorrent to prevent the company from seeking other buyers during the time of bidding. After some time, Sun removed his restraining order and went on to buy the company.+
BitTorrent is a company that had raised millions even ten years ago in the entertainment industry with its P2P network, but along the way, their goals weren’t able to pull through and as a result, they decided to lay off some staff, and change the way services are rendered.
Later onwards, the company recorded a huge success and began to get more than 100 million users every month as a result of its P2P services. Tron’s acquisition of BitTorrent is a major step by the platform to decentralize the world and change the entertainment industry once and for all.
Tron wants to create its own free content platform by making use of its blockchain technology. Tron’s acquisition of BitTorrent will enable its users to create, distribute, and store data without being charged a dime. This feat will also enable people to create a decentralized platform for sharing contents.
Over the years, the sharing of contents for entertainment can only be done on platforms like Facebook, YouTube, Stream, etc. But with Tron’s recent acquisition and its goals to decentralize the world, there could be a big change and a revolution in the entertainment industry very soon.
It is important to note that major exchanges have resumed the deposit and withdrawal of TRX after Tron first moved its tokens from ERC20 to its mainnet tokens. Exchanges such as BitFinex, CoinEgg, and Binance have stated their support for the digital asset.
There are lots of good things surrounding Tron and its future – but currently, the digital asset is planning to improve its services and lead the way in decentralizing and changing the world for good.
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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.
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XRP Surges By 8% In A Surprise Bull Run
The new price surge that surrounded almost the entire crypto market brought quite a pleasant surprise for XRP holders, as Ripple grew in price by over 8% in the last 24 hours. In fact, XRP managed to achieve a price surge equal to that of Ethereum as of this morning.
While the third largest cryptocurrency is still quite behind ETH when it comes to market cap, many believe that it is only a matter of time before XRP regains its former glory. With that being said, a lot of people are still more than pleased with seeing Ripple climbing back to more stable levels, especially after a big price drop that hit the coin last week.
The new hike up allowed XRP to climb back to $0.446322. While this is still low when compared to its highest point in the last week ($0.52), the coin still seems to be well on its way to recovery. In fact, many believe that XRP has found a new bottom, one that is significantly higher than the last one. Most of this new success can be traced back to a price surge that Ripple has had recently when it even managed to briefly overthrow Ethereum as the second largest coin by market cap.
Despite its drop since then, XRP still remains one of the coins with the strongest growth in the last month. While the market is still far from stable,…
If Tether crashes, will that money pour into Bitcoin?
For a long time now, the so-called stablecoin, Tether (USDT) has been a topic of discussion within the crypto community.
Tether, as a stablecoin, is said to be fully backed by the USD. This allowed it to be one of only a handful of cryptos that can avoid volatility issues, due to the fact that it is backed by a stable fiat currency. However, for as long as it was around, Tether was very secretive of its bank accounts and funds in general.
While claiming to have the ability to back each of its USDT coins, many have questioned whether or not this can be true. At the time of writing (October 16, 2018), Tether has released 2,256,421,736 USDT in circulation. This means that it needs to have at least $2,256,421,736 in order to cover its circulating supply.
At this point, three questions emerge, and answering them could very well change the future of this stablecoin. The questions are as follows:
- Are all USDT coins fully backed?
- If yes, then where did that much money come from?
- If not, what will happen when the market discovers the lie?
Tether continues to keep secrets
As mentioned, Tether has always claimed to be able to back each of its coins. However, instead of operating on transparency, the coin used different tools, mostly opaqueness, misdirection, and playing the victim whenever someone tried to unveil what is truly going…
Is Bitcoin (BTC) Better Than USD?
Despite all its recent progress, cryptocurrencies still do not inspire trust in a lot of people. Many view them as unsafe money, with its very nature being doubtful. However, a recent report by the Polish Academy of Sciences’ Institute of Nuclear Physics shows that situation regarding cryptocurrencies may not be as bad as it seems. In fact, the report claims that Bitcoin might even be a better currency than it looks like.
Bitcoin vs traditional money
Bitcoin, as many are already aware of, is the first cryptocurrency. It was created a decade ago and was officially launched in 2009. But, even though it has been around for around 9 years at this point, it is still largely mistrusted by a lot of investors, especially when it comes to large institutions.
However, thanks to the Cracow-based Institute of Nuclear Physics’ recent report, this common opinion might actually be wrong. The Institute has conducted a detailed statistical analysis of the BTC market and has published the results in a scientific journal called Chaos: An Interdisciplinary Journal of Nonlinear Science.
Surprisingly enough, the report portraits Bitcoin in a very positive light.
The report started by commenting on the credibility of traditional money. In the past, money that people have been using was backed by specific material commodities, such as gold. These commodities gave the money its value and served as a guarantee that the money actually has worth. This is…
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