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XRP and TRON are Once Again Bearish

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XRP and Tron
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The crypto market has been taking a turn lately, with a lot of coins seeing more gains than ever in the last three months. Some of them even managed to repair the damage done by the mid-November market crash, which followed after the BCH hard fork. However, not all coins are faring equally, and XRP and TRON (TRX) are clear examples of this.

XRP price continues to decline

XRP spent the last three months performing rather well when compared to the rest of the market. It even managed to overtake the second spot on the list of largest coins by market cap, pushing Ethereum (ETH) to third place. The rivalry between the two only ever included the fight for the second spot, with Ethereum typically being the winner.

While XRP did overtake the position for months, Ethereum has finally managed to grow enough to return to the second place. In fact, ETH has been performing particularly well during the new bullish period, while XRP is experiencing losses. This has been going on for a while now, with XRP price either being dormant or dropping, without any significant increases.

As a result, the downward trend is expected to continue even while the rest of the market experiences gains. At the time of writing, the XRP price is at $0.316, right beneath the resistance level which sits at $0.34.

TRON (TRX) experiences drop as well

While the situation regarding XRP does not indicate that a change is in sight, a similar thing can be said for TRX. The coin’s price has been gradually dropping ever since January 27th, when it surged to reach the price of  $0.030. Since then, TRX was experiencing drops, followed by slight recoveries, only to drop again.

At the time of writing, its price is at $0.0254, and while the coin is currently seeing 1.43% growth, it is likely that this is just another short attempt at recovery before the next drop. Its most notable resistance currently lies at $0.028, which TRX attempted to reach several times, albeit unsuccessfully.

Meanwhile, the most notable support lies at $0.023, putting the coin’s current price halfway between the major support and resistance.

While the coin can go either way from here, the decline in its price has been just as constant as the one in XRP’s case, which makes it likely that the price will continue to go down, if the support doesn’t hold. Due to the dropping price, TRON’s market cap dropped as well, with the TRX currently holding the 9th spot on the list of largest coins by market cap. However, if the drop continues, it is possible that TRON will continue to sink rank-wise, and that it will be replaced by Binance Coin, which currently occupies the 10th position.

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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.

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Altcoins

Is there a Real Value to Binance Coin (BNB)?

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Binance Coin
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Binance Coin (BNB) is one of the most interesting cryptocurrencies at the market right now. The coin was developed by the largest crypto exchange by trading volume in the world, and it only works within the exchange’s ecosystem. However, it still managed to achieve what many believed was impossible — it stopped following Bitcoin’s lead, and it started carving its own path.

At the very least, the coin is highly intriguing, but does it hold real value? This is a question that many in the crypto community have been asking for a while now, uncertain whether BNB is a worthy investment or not.

What gives BNB its value?

Binance Coin cannot be used for purchasing goods and services, like Bitcoin. It currently does not fuel a development platform like Ethereum. It cannot even be used as XRP for sending international payments. However, the coin had still managed to triple its price in the last three months and to surge when most other cryptocurrencies were seeing losses due to the last remnants of the crypto winter.

BNB managed to achieve all of this because of its use cases within Binance, but also because of its future potential. First of all, Binance is the largest crypto exchange in the world, with millions of customers, most of which use the exchange on a daily basis.

This means that the exchange inspires…

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Top 3 Reasons To HODL Binance Coin (BNB)

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Binance Coin
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After 2018 crypto winter began, everyone involved with cryptocurrencies experienced quite a difficult period. The prices were down, weak projects started failing, and even the strong ones appeared to be in more trouble than they could face. The year was especially difficult for HODLers, as they expected that the coins’ prices would continue to skyrocket. Instead, they lost a fortune, not even knowing if the prices will ever start returning to their former heights.

These days, things do not seem so bad anymore. The prices are still down, most of the coins are still at their newly-found bottoms, but smaller bull runs are improving the situation, while a massive one still remains somewhere in the future, at least according to optimists.

However, among the coins in the vast and diverse crypto market, one token stands out. Binance Coin is not exactly a typical cryptocurrency, and for many reasons. The biggest one is that it is one of the few tokens out there that does not follow Bitcoin’s lead, at least not anymore. Whether that will change in the future remains to be seen, but for now, BNB appears to be going its own way, carving its own path through the crypto market.

Its price has increased by several hundred percents since the year began, and for now, it continues to grow. As such, it is perhaps more worthy…

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Why Binance Could Become The First Centralized Company To Achieve Total Decentralization

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Binance DEX
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At this point, pretty much everyone who knows anything about cryptocurrencies knows that they are based on the concept of decentralization. The same is true for the blockchain technology. While there are some exceptions, such as certain stablecoins, most digital coins follow this principle.

This means that these coins, as well as their network, have no central authority, no single entity that would make choices and decisions that would impact others. However, while most coins managed to achieve this through different complex mechanisms and algorithms — one aspect of crypto trading still remains heavily centralized. We are, of course, talking about crypto exchanges.

Centralization of crypto exchanges

Most of the largest crypto exchanges out there are designed as companies, rather than community-operated platforms. The exchanges have their employees who designed them and developed special tools. They act as customer support, developers, innovators, and alike.

They also get to decide which coins will be listed and which are too weak, uncertain, or not fit to be found on the list. Exchanges are also responsible for keeping the traders’ and investors’ funds safe, which is why they typically develop their own wallets. As such, they are often targeted by hackers, as the coins are stored in an exchange wallet, waiting to be withdrawn, sold, or converted into different currencies.

This makes them extremely unsafe, and investors and traders are always…

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