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Will Tron’s Tronix (TRX) go as far as $3?
Tron’s new virtual machine went live about a week ago. Then one week after, just yesterday, its new Main Net went live, making Tron and Tronix (TRX) a blockchain entirely independent from Ethereum, or any other technology. This is creating expectations, and some observers (even neutral observers) are predicting a TRX rise that will go all the way to $3.00. Is this actually possible? Let’s see.
Among the reasons to expect such rise is Tron’s new Main Net which (again) came online yesterday. The new Main Net is not just a blockchain for the TRX currency, but it will also support the development of decentralized applications. This matters a great deal. Now, the Tron’s platform will improve over any other blockchain tech when it comes to smart contracts which have real-world value.
Then there’s Justin Sun’s leadership. Mr. Sun is one of the most passionate and respected leaders the crypto world has ever seen, and he’s delivered on promises so far. He changed the release date for the Main Net from June to May’s last day. That move projected lots of confidence in Tron’s project.
Many analysts expected that as soon as Tron’s Main Net takes off, TRX will erupt just like that (yes, that hasn’t happened yet). That is just logical but think about this; there is this link between Mr. Justin Sun and Mr. Jack Ma (of Alibaba fame).
Mr. Sun and Mr. Ma are close friends (Sun being a famous protegé of Ma’s). This friendship has created a bunch of rumors going around. But let’s just say Alibaba gets behind Tron. That alone would make TRX reach $3.00 or more.
The gaming industry is a huge factor in this equation as well. Tron has been linking with big gaming players such as Game.com. If Tron can penetrate the billion-dollar gaming industry and persuade them to go for blockchain tech, there’s no way of stopping it. Tronix’ value would go through the roof, let alone $3.00.
Some observers object to TRX’s high supply. They shouldn’t; the high supply Tronix possesses guarantees stability which is good for everybody. But even in this context, Tron is burning coins to keep the supply limited over time. It’s all about supply and demand so that alone, again, could make TRX reach $3.00 or more.
Tron has been generating plenty of expectations from investors and the crypto community. Their Virtual Machine went live successfully (exactly as planned), then the Main Net, and there’s promise of new announcements (they are working on Tron wallet optimization and potentially an app too already) to come.
Having said that all, also remember, if you are already questioning why Tron (TRX) is not picking up already – then, apart from the current bearish trend of the market (yes, it’s picked a bit today but still been bearish for a couple of weeks now), there is another angle you need to think about too. It might not pick up right away given that its Main Net has been launched.
The ‘sure time’ of Tron hitting the moon will possibly be when the token is not ECR20 anymore, which is going to happen on June 24th. Yes, the Main Net went live yesterday, but the thing is, blockchain is still experimental until the token is fully autonomous.
So on the 24th, the first autonomous Tron blocks will happen (and Justin Sun will start screaming and kicking too). Many experienced investors might just be standing around the corner as of now, but they more likely will join the party as soon as the token leaves ERC20 behind wholly (successfully). Read the writing on the wall: Tron’s TRX can only go higher. Just watch out for its rise.
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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
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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