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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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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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