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

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Tron Trx

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.

Image courtesy of Pxhere.com

Altcoins

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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Altcoins

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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Altcoins

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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