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Tron (TRX) Testnet Surprises the World

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TRON
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Justin Sun, the CEO of TRON, surprised the world by introducing TRON’s testnet. TRON has depended on the ERC20 TRONix token or the Ethereum network all this while. However, TRON’s success story seems to be beginning now as they transfer all their 100 million users to their brand new central system which will be launched in June.

TRON is helping content creators establish a direct network to their customers, making sure that there are no intermediaries. The process will make sure that the user data is protected as well.

Impact of the Testnet

Although the company expected a positive outcome from this new decision that they have made, it looks like TRON is not really meeting such an expected outcome.

The projects market cap has fallen to $900 million as of yesterday. However, this could also be a result of the fall in the overall crypto market. Over the last few days, the market is witnessing a downgrade as most of the prices seem to be going down.

This launch of the Testnet will be very helpful as it gives the project enough data to perform such a transfer. Some predict that although TRON has seen a massive dip earlier this year, there are chances that the price will go up by the month of May.

With this new launch, the company also announces that TRON will make sure to meet its 2018 goals. According to users, the 26-year-old CEO might also be aiming at TRONs potential success as the most substantial Blockchain dApp platform. This new plan regarding the migration will be released within this month.

In a pursuit to meet the expected goal, TRON is also starting a campaign in order to have a global look. This way they will be achieving a global reach and can also get listed in the significant cryptocurrency exchanges. The company expects to be listed on Coinbase as this will help the value to go up a lot more than it is now.

Many investors have been quite critical of TRON’s market impact. Nevertheless, the company is sure to make some difference because they are hoping to get nearly a hundred members in order to make sure there is a smooth operation after Testnet is proved successful. They are also looking to get team members from their partners such as Alibaba.

Since there are many other coins of high-demand, it is not very easy for TRON to make such a massive impact at once. The problems that affect the blockchain technology and digital currency will eventually play a negative role in all the other coins. At this moment even the top coins like Bitcoin is facing a huge crisis.  And so the growth of other coins is likely to be impacted as well

Although the launch of Testnet was a considerable surprise to the digital currency market, this transfer is only a Testnet. The impact of this new move is yet to be witnessed. We will soon know whether TRON will become successful or not. At this moment only predictions can be made.

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 and read our full disclaimer.

Image courtesy of Trinita via Flickr

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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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