Connect with us

Altcoins

Why Is Alibaba Not Partnering With TRON (TRX)?

Published

on

Alibaba not partnering with Tron
READ LATER - DOWNLOAD THIS POST AS PDF

TRON (TRX) has been among the most active crypto projects this year. It achieved a lot, from numerous exchange listings, to launch of its MainNet, and later its TRON Virtual Machine, to the purchase of BitTorrent and announcement of a new project called Project Atlas.

New partnership announcements never seem to stop for this crypto. Even so, however, its community continues to wait for one special announcement, which is TRON’s partnership with Alibaba. Still, no matter how patient the community has been so far, the announcement of this partnership simply isn’t coming. At this point, many have already given up, simply accepting that Alibaba is not partnering with TRON, period. But why?

Alibaba NOT partnering with TRON (TRX)

A few months back, when TRON’s MainNet launch was still a thing of the future, a rumor appeared that Alibaba will be the next big firm that will partner up with TRON. While Justin Sun, TRON’s creator, openly talked about his desire to partner up with Alibaba, it is not he who has started the rumor.

Still, the “news” quickly spread, and the rumor even made a lot of headlines at the time. Alibaba denied that it had such plans, but the entire crypto community believed that this is all just a way of keeping the partnership a surprise. Some believed that, even if Alibaba truly didn’t plan such partnership, it will certainly change its mind after TRON proves that it can live on its own blockchain, far from Ethereum’s support.

Soon enough, the MainNet launch came. It was successful, and it was a big deal for TRON. Token migration followed, as well as numerous other announcements, including new projects and partnerships. However, the Alibaba partnership was nowhere to be seen.

Nothing has changed

This is where many started to believe that the rumor is nothing but a false hope and that it will never come to pass. Alibaba not partnering with TRON, and that’s that. If we take a look at Alibaba’s opinion on cryptos, this is not really that surprising. The company’s own leader, Jack Ma, always viewed cryptos as a bubble. To this day, he remains convinced that this is true. Someone who has so little faith in the future of cryptocurrencies certainly wouldn’t be in a rush to partner up with one of them, right?

While a partnership between the two would certainly benefit both entities, it would seem that Alibaba is staying true to its belief. Even so, both the company and Jack Ma have shown increasing interest in the blockchain, even if they want nothing to do with cryptos.

Recently, news of Jack Ma stepping down started appearing as well. Even though he is to be replaced by a new leader, Alibaba’s current Chief Executive, Daniel Zhang, there is still no reason to believe that the new leadership will mean opening up to cryptos, including TRON.

It would seem that the partnership will, at least for now, remain only a rumor and wishful thinking. What will happen in the future is anyone’s guess, but until Alibaba starts viewing cryptos in a more positive light, nothing big is going to happen between the company and this industry.

Check out the new Global Coin Report YouTube channel as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

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 Pexels

Altcoins

Why Binance May Be Crucial for Tron (Trx) to Reach $1

Published

on

TRON
READ LATER - DOWNLOAD THIS POST AS PDF

TRON (TRX) has been one of the most popular crypto projects in the past year. The coin has received a lot of attention from the entire crypto community, and although the impressions may differ —  the fact is that TRX is one of the most talked-about coins, even today.

However, while the project managed to achieve a lot in less than a year — launch its MainNet, start multiple massive projects, launch dozens of dApps, hundreds of smart contracts, its own DEX, new token, and more — its price remains quite low. Undoubtedly, one of the reasons for this is its massive supply. TRX circulating supply is over 66 billion coins, while the total supply is over 99 billion.

Even so, the coin is believed to be massively undervalued, with its current price sitting at $0.028129, according to TradingView. This price, together with a market cap of $1.88 billion, pushed the coin out of the list of top 10 largest cryptocurrencies, and it currently sits at 11th spot. But, many believe that this is not a permanent position for TRON. In fact, its community believes that it is only a matter of time before TRON rises through the ranks, and its price hits $1. And, the way for the coin to achieve this is believed to be through Binance.

TRON and Binance

Binance is one of the world’s…

Continue Reading

Altcoins

Why Tron (TRX) Price Won’t Remain Low for Long

Published

on

TRX
READ LATER - DOWNLOAD THIS POST AS PDF

TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition,…

Continue Reading

Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

Published

on

cryptocurrencies
READ LATER - DOWNLOAD THIS POST AS PDF

For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

Continue Reading

Elite