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Tron (TRX) is turning around big time

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Tron TRX

Tron has not exactly had a great 2018 – the project has plummeted in price from 30 cents in January, to hovering at around two cents. Of course, the entire market has been in an overall slump in recent months, so this isn’t too surprising, but many believed that the Justin Sun-led project would be one of the most successful projects of 2018, given the fact that Tron has floated rumors about partnerships with world-renowned companies such as Alibaba and Twitter for some time now.

Although the price action has been disappointing recently, that has been turning around, and the price momentum of Tron (TRX) is growing, as it is up by 9.9% over 48 hours or so.

Of course, this does not mean that there is a sustained price rally underway, or that it will blow past two cents to reach three, four, or five cents. It is evident that since the project has lost so much market capitalization, it will take a lot for long-term investors to feel great about the project in general.

Subsequently, there are key developments that are leading to this price boost. One massive expansion is the fact that the world’s largest cryptocurrency exchange by daily volume, Binance after adding TRX/USD earlier, has decided to create BNB/TRX pairs now.

That not only means added liquidity for Tron (TRX) but also suggests that the exchange believes that the project will increase in value over time significantly. It certainly helps the overall market sentiment and public perception of Tron in general.

Binance isn’t the only exchange that is taking steps to make sure that Tron experienced more liquidity in the market. Although it is only available in certain parts of the world, Bittrex announced that it would add Tron/USD and Litecoin/USD pairs to the exchange.

The fact that Tron has fallen so much is unfortunate, but given these two recent developments, and the subsequent price action; it is easy to conclude that many buyers have decided that this is a great time to enter for either a long-term hold or a short-term trade.

Of course, there are significant resistance levels, and obvious mental resistance at both the five-cent and ten-cent mark, but if Tron (TRX) continues to have positive developments, perhaps the project can reclaim some of its former glory.

The demand for Tron is undoubtedly here currently, as it already has exceeded $100 million in 24-hour trading volume. Apparently, the future will determine whether this kind of volume will increase and whether the price will continue to rise, or plateau at a certain level.

As of right now, it is clear that there is a demand for Tron (TRX) and a suggestion that prices will increase over a long period. The truth is that these new pairings will undoubtedly lead to more volume for the project, but time will tell whether this volume can be sustained to create a true trend reversal. Keep your eye on Tron – you never know what will happen.

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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Kelly Sikkema on Unsplash

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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