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TRON (TRX) Won’t Be This Cheap For Much Longer

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TRON (TRX) looks to be stuck in and around the $0.06 level but don’t be fooled – it’s not staying this low for long.

Some holding right now may have picked up back at the start of the year and if that’s the case, are sitting on a circa 20% gain. At the same time, however, these same holdings were at one point up more than 760% (between Jan 1 and Jan 5), so the dip back down to current levels from $0.26 highs is probably going to seem like a real hit.

Indeed, this Forbes contributor certainly feels that way.

We’ve said it before, however, and we’ll say it again – this one isn’t staying at current levels long.

Tron is one of a handful of top 20 coins by market cap that are currently trading at penny levels (so, below $1), with the others being Stellar (XLM) and NEM (XEM). The reason that this sub-dollar pricing is important is because it plays a significant role in the psychology of buying cryptocurrency. People have seen bitcoin rise in price by thousands of percentage points over the last decade. They’ve heard stories of people buying thousands of ETH when they were below a dollar and becoming millionaires on the back of the subsequent rise in price we’ve seen over the last couple of years.

TRX Daily Chart

TRX Daily Chart

They missed out on this run and they want to make sure that they don’t miss out on the next one. So they have a choice – pick up a fraction of one of the larger coins and expose yourself to a fractional appreciation or pick up ten thousand of one of the sub-dollars for (in the case of Tron) $600 and stand to gain considerably if the coin goes to a dollar or more.

This psychological incentive to pick up an exposure to these small price coins is enough in and of itself, in our eyes, to pick a coin up from current lows and once things start moving it’s only a matter of time before the markets start to see the rise and the speculators pile in and push price up further.

Of course, speculative attention isn’t enough to sustain a long-term revaluation, so it’s all about fundamental developments looking a little farther down the line – which is where the coin’s most recent announcement enters the equation.

We actually alluded to this catalyst as part of this piece, which hit press at the end of last week here at Global Coin Report. At the time, we’d just seen Tron’s founder Justin Sun announce via Twitter that the company was expecting a near-term major exchange listing.

Sun didn’t say which exchange was set to list the coin, which got markets pretty excited about which company would be tied to the reveal.

And it didn’t disappoint.

Yesterday, Sun announced that the exchange that’s set to list TRX is Huobi – one of the leading global exchanges and a major player in the blockchain asset trading space (so, coins as well as tokens).

Huobi is actually listed at number 5 over at CoinMarketCap right now in terms of twenty-four-hour volume, having logged just shy of $1 billion volume since this time yesterday.

This is a big deal as it dramatically improves liquidity for TRX, meaning there’s plenty of room for speculative appreciation as and when the above-outlined market forces come in to play. Couple this with the fact that we should see a listing driven boost based purely on the added exposure and Tron looks like a real winner at current prices.

Don’t get left behind.

We will be updating our subscribers as soon as we know more. For the latest on TRX, sign up below!

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.


Image courtesy of Tron.

Bitcoin

Stepping off the rollercoaster: Why I’ve fallen out of love with Bitcoin

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The very word Bitcoin has almost become synonymous with that of cryptocurrency. It’s basically just a medium of conducting digital transactions – it’s a virtual currency and one of many. So how has it taken on a definition of its own and asserted itself as a leader in the digital financial ecosystem?

Bitcoin has been crowned king of altcoins, probably because it was one of the earliest and most successful of its kind. The trendsetter has ushered in a wave of cryptocurrencies built on decentralised P2P networks and has inspired a growing number of followers and spinoffs. But is Bitcoin struggling to keep up with the newcomers who have made considerable developments to the stability, security, and usability of the crypto world?

The supporting case for Bitcoin has been a clear one. Its pioneering infrastructure has situated it in a position of dominance in the altcoin realm. Bitcoin has a proven usage case as a store of value. Having existed over 8 years without failure, it has a large lead over most altcoins and has withstood the test of time as younger counterparts join the market. However, it seems to be on a downward slope, or at the very least, not progressing at the speed of the market.

In May this…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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