XRP Tron Price: Back to the Lows? - Global Coin Report
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XRP Tron Price: Back to the Lows?

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The reality is that it’s not too comforting right now being an XRP or Tron price bull. While we saw the two cryptocurrencies bounce off the lows, it just doesn’t feel like we are in the clear yet. As we watch Ethereum weaken, one gets the sense that we are going down to test the lows again.

Chart courtesy of tradingview.com

XRP Price

Yesterday, almost $2.3 billion worth of Ripple exchanging hands between wallets yesterday. This is about 13% of the total XRP coins in circulation. Obviously, this size of a move has spooked the markets and we are seeing XRP sell-off on the back of this news.

Chart courtesy of tradingview.com

We believe that the biggest overhang on the XRP price has been concerns over centralization and the control by Ripple Labs and its founders. When Ripple peaked around $3.85, Ripple founder Chris Larsen saw his net worth surpass that of Facebook founder Mark Zuckerberg. This concern has been exacerbated by the fact that Coinbase has not added XRP to its coin offerings. Lastly, the Morgan Creek crypto fund did not add XRP due to concerns on their level of centralization.

While the crypto community is currently focused on the negatives affecting XRP (For those that argue this fact, guys were are in a bear market. XRP has been going down and down. The market is focused on the negatives and not the positives. Don’t shoot the messenger.), there are some positives. For one, the cost to move $2.3 billion XRP was less than a cent, which beats any transaction involving Bitcoin or fiat. Second, Ripple is continuing towards innovation and those that have a long-term view, will be well-rewarded. Each pullback should be viewed as an opportunity to accumulate a position and HODL.

Tron price

Tron has made a nice move up off the lows as a lot of positives have been happening for Tron. I know many in the Tron community are despondent over the price, but from Justin Sun’s Twitter feed, a lot is happening behind the scenes. First up, Tron just burned 670,045,551.1449388 ERC20 TRX tokens. This is roughly $16.75 million, which is no small number. Second, Justin Sun just announced the launch of Tron’s Virtual machine via his Twitter handle, saying:

Regarding the Tron price, the market looks weak again. While the market rallied off the lows, there wasn’t the moon or Lambo type moves like we witnessed earlier this year back in April and May. This move was more like a dead cat bounce. With the market weakening again, smart players should pick their spots for accumulation.

Chart courtesy of tradingview.com

Bottom line

With so many alts have raised money in ETH, a weak Ethereum price REKTs havoc on the entire altcoin market. This includes XRP and Tron. As crypto players get out of ETH and alts, they buy Bitcoin, which further depresses the altcoin market. At this point, the only course of action is to HODL. Unfortunately, it doesn’t look like this bear market is over and we will have to continue weathering the storm. As always, we will be updating our readers daily here at Global Coin Report with the latest updates and market changes.

Happy Trading~

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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. This author is long Bitcoin and Ethereum.

Image courtesy of Pexels

Charts courtesy of tradingview.com

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation
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As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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