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TRON’s Next Resistance is at $0.032 — Can TRX Break through it?

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Tron

As cryptocurrencies struggle to shake off the bearish grip that has been holding tight ever since January 2018, many of the coins have come close to their next area of resistance, attempting to break it. For TRON (TRX), this resistance sits at $0.032, which is the value that the coin recently approached.

On January 27th, TRX value increased to $0.030467, which gave hope to TRON supporters that the coin might break the next area of resistance and potentially start a new rally. However, on this occasion, it did not happen, and the coin experienced a minor drop in the following hours, which continued during the next few days.

At the time of writing, TRX value has dropped to $0.026446, after experiencing a 1.43% drop in the last 24 hours. This is just above the coin’s first support line, which sits at $0.027. While there is still no indication that the coin will break the support line and continue the drop, its value still appears to be under the bearish influence.

At the time of writing, TRX is the only coin among the top ten largest cryptocurrencies by market cap to trade in the red, while other coins, such as Bitcoin, Ethereum, Bitcoin Cash, and even Bitcoin SV are currently seeing minor gains.

The second largest coin by market cap, XRP, is seeing the largest growth at the moment, with an increase of over 9% in the last 24 hours.

According to analysts, TRON’s price is not expected to change much in following days, with most of the predictions claiming that the coin has found a type of balance between its first support ($0.027) and first resistance ($0.032). Minor fluctuations between the two are possible and even expected, but the coin will likely not venture far into either direction soon.

As always, there is a chance that a new development or breakthrough might impact the coin’s price in an unpredictable way, and a large market rally or a drop could also impact the coin and lead it up or down. However, if no outside force affects the coin, the situation right now is expected to remain unchanged.

TRON in 2018

TRON has been through a lot in 2018, just like every other cryptocurrency. While the project managed to become one of the most popular ones due to its constant technological and business advances, its price remained unaffected, and most of its movements were downward trends that impacted the entire market.

Meanwhile, TRON paid no attention to the drop in crypto value, and it continued reporting project after project, partnership after partnership. It also managed to beat Ethereum’s record regarding the daily number of transactions — a feat that was possible thanks to its popular new dApps.

At the moment, the coin’s largest project, Project Atlas, revolves around BitTorrent, which TRON purchased in mid-2018. The project is expected to further increase awareness and popularity of TRON by providing rewards for BitTorrent users who continue “seeding” files, thus making them available for a larger number of people. While it is not expected that the entire BitTorrent community will jump to the chance to earn a bit of TRX, the move will still be one of TRON’s largest steps towards decentralizing the web to date.

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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 Mandalorian Captures via Flickr

Charts courtesy of TradingView

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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