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Tron (TRX) will reclaim its position in the market shortly, here’s why

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Lots of changes have been seen lately on Tron (TRX), one of the most remarkable cryptos in the market, and not only by its top performance but as well by all the activity the company has been doing to differentiate from the rest of the market. Back in March 31st the company successfully deployed its Testnet, a landmark that was followed by the recent launch of the MainNet on May 31st, an event that a big part of the community was anxiously waiting.

The expectations were set that the TRX token would hit the moon right after the MainNet launch. However, the community has received a different landscape where the token is only going down every day, and many of the Tron holders are just starting to question whether they should HODL TRX or not. In relation to this, some good news has appeared in the picture, because as it seems, even when the token been trading in the red, everything is now set for the coin to recover its best performance, and Tron (TRX) may be having remarkable performances again sooner than many might be expecting.

Justin Sun’s part in the upcoming change

Justin Sun, who serves as the Chief Executive Officer of Tron is one of the key pieces of this puzzle that the TRX recovery has turned into. The businessman is playing an essential role in the current transition of the token; every day a bunch of Tweets gets published on his account doing the countdown for the migration, and the same way, lots of collaborations with important exchanges and institutions are communicated.

Naturally, Sun is trying to catch the attention of the community, and certainly, this is something that is paying off. Like this, the third quarter of the year may be very bright for the token if the sympathy of investors and holders gets recovered, a fact that doesn’t look that distant when at least a 40 percent of the token holder asseverate that their reason to be with the company is its future-oriented vision rather than its price in the market.

Tron’s current and future behavior in the market

About two months ago the TRX token experienced its biggest momentum in history getting to be valued at $0.101, a milestone that the whole community was forecasting to be the beginning of a non-stop bullish race. Nonetheless, ever since then the prices have been just consistently dropping, even getting to be valued at 0.043605 yesterday.

It is to be considered, that the whole market now has bearish moves (last 24 hours have turned to be good though), and parallel to that, some not-so-good events like the Coinrail hacking have occurred, affecting the entire industry, and even making the leader of the sector, Bitcoin, to lose momentum without having a way out. This has resulted as well, in a lot of altcoins being inevitably taken to a massive drop.

On the positive side of the picture, the TRX token managed to re-bounce a little in the last 24 hours, being at a price of $0.04545 per coin at the moment with a 5.62% increase.  Although the boost may be a temporary thing, still proves the resistance of the currency in contrast to the dips of the market, and this suggests that once the sector starts to go up, TRX will have a notably good performance.

Furthermore, the company is doing everything to complete its migration this month without any problem. In this matter, it even offered $10 million to whoever finds any security bug in its MainNet, Odyssey 2.0, to make sure that no issue interferes with the TRX migration. In the case that the token journey happens without any problem, we can be sure that TRX will recover the lost ground as many investors will regain confidence with respect to the coin quickly.

Next steps of the crypto

Tron (TRX) it’s currently on the BETA test of the migration to happen in the coming days, at that moment it is expected that the total existence of TRX tokens migrates from the ERC-20 protocols to the Odyssey 2.0 blockchain platform. If everything goes well, the migration will take place between June 21st and June 25th at 00:00 (GMT+8).

In addition to this, the company will deploy its Super Representative elections, an event that will help create a fully autonomous community for the token. In regards to the migration, at least 27 exchanges have offered their support to the coin, including the giant and famous exchange, Binance – that’s another positive aspect for Tron to reclaim its position in the market soon.

Another potential move by Tron can be the merger of millions of BitTorrent users, as the CEO, Justin Sun bought the p2p file sharing site just recently. Tron (TRX) BitTorrent acquisition will undoubtedly add a massive user-base to the Tron network. The merge is not going to be a positive thing for Tron only, TRX holders will also end up holding a high-value tangible asset, with peer-to-peer advertising opportunities. So, Tron will more likely take this step soon, it’s in the interest of both, Tron and the users.

Conclusion

Despite the recent dips in the prices of Tron (TRX), the token has managed to remain extremely active, generating the most solid relationships that will help the company in the events set for the coming days. The bearish move results undeniable, but on the other hand, Tron has managed to grow in spite of the market situations, and that without taking into account the several dApps that have already run in the platform and the hundreds of others that we can expect after the migration.

Undoubtedly Tron TRX will recover its momentum in the coming days, so stay strong and tuned!

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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