Connect with us

Altcoins

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

Published

on

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.

For the latest cryptocurrency news, join our Telegram!

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

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…

Continue Reading

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

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…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

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…

Continue Reading

Press Release