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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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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