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What happened to Tron (TRX), why no rally after MainNet launch?

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It has been a long way coming for the 10th substantial digital asset by market capitalization, but finally, Tron successfully launched its main net on 31 May. What this mainstream launch means is Tron’s blockchain will no longer be dependent on Ethereum’s block. TRX was one of the ERC20 digital tokens before, but now it is an independent digital coin existing on its blockchain, marking the beginning of Tron’s independence from Ethereum and the decentralization of the web.

This means TRX tokens which has become a darling to many, will be converted to the MainNet currency in the coming days by a majority of the cryptocurrency exchanges in the market. However, users are required to fulfill a few steps in ensuring the transition takes place. Users have a deadline of June 25 to comply with the new features.

The May 31 MainNet launch was a unanimous decision to leave Ethereum’s in-fighting about community governance as well as “high gas tariffs and archaic gas burn mechanism,” according to a press release by Tron Foundation.

Investors to Wait Longer for Rally

However, amidst the excitement and buzz that accompanied the launch of Tron’s Odyssey 2.0, there are fears that Tron’s prices might further soar following a drop of over 9.7% in the last seven days. Today, Tron’s price is at $0.059 while it was at $0.073 on May 26. Additionally, TRX is one of the few top 10 virtual currencies that are depreciating in what is an otherwise pool of green.

Experts are blaming the surge to what they regard as brilliant marketing by the Tron team that managed to heighten expectation, confidence, and awareness of the token.

But now that the hype is subsiding, Tron needs to actualize real results and meet the high expectation or else it will disappear from the cryptocurrency radar faster than it appeared on it. On the other hand, long-term investors are ignoring the recent shortcomings and are focusing on the long-term prospects.

What Next for Tron?

Actions that are expected have a positive effect on Tron after launching Odyssey 2.0 include:

The Inclusion of More dApps on Tron

Tron (TRX) seems to be aligning itself at a vantage point to capture Ethereum’s customer base as lack of scalability and transaction costs continue to trouble the investor of smart contracts.

Odyssey 2.0, Tron’s new main net, increases the overall throughput of the platform to over 1000 TPS while charging little or no cost for transactions.

If you compare the two, you will see that Tron solves Ethereum’s <25TPS issue and high transaction rate challenge by offering a better platform to build and develop decentralized applications.

Trading Volumes to Increase

Even though daily TRX volumes being traded are yet to match the highs of the over $3.8 billion worth of Tron that were traded on a single day early this year, the current volume of about $700 million is predicted to pass the billion-dollar mark as the new Main Net settles down.

Election of Super Representatives

Super Representatives are argued to play a role in stabilizing and improving the value of TRX by representing the will of contributors to the project and providing the much-awaited governance of the project.

All in all, not just the above-mentioned factors will bring in Tron’s rally shortly, the project has put together a number of things in a ‘right’ way – so it will only go up. The enormous investment Tron has received cannot make it die easily. Prices are expected to appreciate within the month with an all-time high expected to take place at the end of June.

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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 Pxhere.com

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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