The last seven days have been pretty good for Tron with an 11.8% increase while EOS grew by 6.3%. Both coins are having a very good run right now, but their performance begs two questions. Why are they doing so well? Can they keep performing in the future?
Right now both crypto coins are based on ERC-20 technology, but they are both trying to shake it off to become blockchains in their own right. The situation and the objectives are different for each, let’s see how.
EOS just wants to become a real blockchain product (by real we mean decentralized) because it’s had a lot of criticism about authenticity. It has performed well, but doubts still remain about its technology’s reliability and safety. EOS’ main aim is to make it easier and cheaper to trade crypto assets, but for that, they need to become a real coin everybody trusts.
TRON’s idea is different. They want to decentralize the web and transform the gaming industry. They want to ultimately become a platform for content creation and not a financial service or asset only.
Tron’s and EOS Main Net Launch: A step forward in tech and performance
One of the reasons for both coins to have performed so well recently is that they are both launching their own Main Net soon. Tron‘s launch will be on May 31st and EOS‘ will launch its Main Net on June 2. Both events have been providing excitement and expectations for investors and enthusiasts alike.
What does each launch mean? It’s all about both projects dropping the ERC-20 tech and become full-fledged projects on their own, using their very own blockchains. It’s about authenticity and autonomy. From that point in time on, the blockchain they produce will be their own and that is attracting some big names to them such as Bittrex, Huobi, and Antpool, the mining giant.
Tron’s Main Net launch, next May 31st will surely boost TRX’s value even further. Investors already know what to expect and how to prepare so they’ll be ready when the move happens.
EOS is preparing a similar move but it seems that it’s Tron who holds the upper hand on this, with some big players already supporting it.
EOS vs. TRON: Market performance
CoinMarketCap currently ranks EOS as the fifth cryptocurrency at $17.19 per token. Tron is eleventh at $0.083. Over the last day, EOS has lost 4.7% of its value while Tron has lost about 4.6% (they are going neck to neck here, too – wow).
Even with those recent losses taken into account, Tron remains the most profitable coin for the last week, as it’s increased more than 11% while EOS has grown by about 6% only. That being said, the fact remains that EOS’ trading volume is much higher than Tron’s; it’s at 3.5 billion as we write this. This is two billion higher than Tron.
The fact that both projects have reached volumes surpassing a billion dollars is astonishing in itself. It puts them in the world’s top four in terms of trading which is quite meaningful. The world’s first is, of course, Bitcoin at $8.4 billion, then comes EOS. Third is Ethereum and then it’s Tron. So both coins are up there, playing with the bigger boys and giving them a run for their money.
So which one should you choose? Both are great blockchain projects that hold a lot of promise for investors, enthusiasts, partners and the public in general. EOS looks better right now but as things develop, Tron could surprise everybody. We don’t think you should choose among them. On the contrary, a good cryptocurrency portfolio should include both currencies.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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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