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Google Searches for Bitcoin See Tremendous Spike

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Bitcoins rally over the last two months has seen it become a focal point of conversations around the watercooler again. The cryptocurrency market is now in full swing and Bitcoin currently stands strong with a price of $8130 (at the press time) after having started the year at just $3800. That is a massive growth of 210% over the course of barely five months, most of which happened during the last two months.

May specifically has been a rollercoaster with different days where the cryptocurrency shott up in value by over a thousand dollars. Both times, it was due to frantic trading on the early Asian markets that spurred the meteoric rise and many think it had to do with the faltering of Asian currencies in the face of an ongoing and costly trade war between the United States and China.

Google data shows public interest in Bitcoin is increasing

Data from Google Trends shows that Bitcoin is only getting more and more popular as time goes by. Looking at the last 90 days of data, there is a definitive bump in interest around the beginning of April when Bitcoin broke through the $5000 barrier, and the conversations started around whether there would be a bottoming or if it was a false dawn.

Since then, however, the data has shown a sharp increase in the search term “bitcoin” and like it looks like the trend will continue surging upwards for the foreseeable future regardless of the price fluctuations. It is interesting to note that the NFL players are asking to be paid in cryptocurrency now (in Bitcoin in particular).

This type of popular appeal is a sign that Bitcoin is maturing and that more and more people are slowly becoming comfortable with the idea of a cryptocurrency. It is easy to forget that Bitcoin is barely 10 years old and that there were similar bubbles and misgivings when the internet started to become mainstream.

African countries are most interested

The 90 day and 365-day trends show that most of the interest in the Bitcoin search term came from two African countries, namely Nigeria and South Africa. In top 5, only Austria is not from Africa as St Helena and Ghana take up the other two spots.

Following on from that, 6-10 are Netherlands, Switzerland, Germany Australia and Singapore. While only Switzerland can be looked at as a crypto friendly jurisdiction, it does show that the people from these ten countries are becoming ever more interested in cryptocurrency as a whole. Undoubtedly, Bitcoin has been known to be the gateway crypto for many people.

This is great news as the ICO problems of late 2017 and early 2018 turned many people off from cryptocurrencies and what this data shows is that people are willing to give cryptocurrencies another chance. The more people learn about Bitcoin and crypto, the better it will be for the entire sector and we might even see crypto take place in our daily lives sooner than many had imagined.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Bitcoin’s colossal weekend rally

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The words “weekend” and “excitement” rarely go together in the cryptocurrency market. If you’ve been navigating the cryptosphere for more than a few weeks, you’ve probably noticed that the weekend market is usually very dull or it’s dominated by bears.

So while the digital asset market is open for business 24/7 (unlike, Forex, for instance, which closes on Friday at 17:00, NYC time and it remains closed until the Asian session starts on Monday mornings at Wellington, New Zealand) that’s not such a convenient fact because making a buck during the weekend takes a lot more expertise and discipline than during weekdays.

That’s why Bitcoin’s spectacular behavior over the last weekend is more significant than just a vast bull run (which would be meaningful if it had happened on a weekday anyway).

In this article, we will review and try to elucidate what happened with Bitcoin over the last weekend and try to figure an outlook out for the mother of all cryptocurrencies.

It was nothing short of amazing. The price went up steadily, forming one of those legendary (and highly anticipated) parabolic patterns. There were fluctuations. They turned out to be small and ended up being irrelevant in the big scheme of things.

Everything started on Friday night. It began slowly but steadily until things became serious on Saturday morning. During Friday, Bitcoin was approaching the USD 6.000,00 level, which is a psychological mark because it’s a round number, but it’s not so important otherwise. The USD 6.400,00 level is a different story.

Because it was Bitcoin’s support level for such a long time during last year, it became something of a fixture in Bitcoin trading. The traders feared as something of a boogeyman. By Saturday morning, it had turned into the new resistance level and, given the market’s behavior during last year around this price level, a lot of traders were wondering what would happen.

Chances are that nobody expected that the said 6.4k level would be overcome very quickly and that the price would continue to soar until it reached USD 6.950 less than an hour after going above it. It went back a little afterward, finding support at USD 6.680. For most of the day, it seemed that Bitcoin would be stuck trading sideways around the 7k level. But just before midnight, the market saw another surge that brought the price to USD 7.398,00.

On the next day (Sunday) trading volumes were high, thus assisting the price in keeping climbing to a height of USD 7.581,00. This became a hit at the ceiling, and the price bounced back down. It dropped in free fall all the way to USD 6.769,00. Support kicked in again, and the price recovered to the 7k level.

So the weekend was highly volatile. Probably the most erratic period in about a year, but it ended up producing very green numbers and favoring Bitcoin.

What happened?

Some analysts think that this came about because of the US-China trade war. Others believe that the Bitinex/Tether fiasco brought a lot of money previously invested in USDT to Bitcoin, thus creating high trading volumes, higher demand, and raising the price. And some others think that it happened because of a cash injection by institutional investors, which is very unlikely because financial institutions do not work on weekends.

It’s impossible to know for sure, especially now because it’s all too fresh.

What comes next?

Bitcoin is trading at $8027 as we write this. It’s still on slightly green numbers for the last 24 hours (0.18%). So the price has been soaring from Monday on as well. So what comes next? Well, it doesn’t happen next, it’s already here, and it’s the new crypto summer, the next bullish run on Bitcoin. That being said, towering market peaks can be followed by market corrections. So this is not the time to let optimism negate precautions.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Mainstream browser Opera supports TRON network now

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TRON’s network manages another stride as Opera (the widely-used web browser) revealed today that it would support TRON blockchain in its crypto browser.

Opera is one of the most-used browsers available online and listing TRON will enable increased use of TRON’s Decentralized Applications and tokens in its browser. The support by the popular browser will allow the use of TRX and TRC-tokens in its digital wallets.

Justin Sun didn’t fail to express his happiness as TRON (TRX) is now supported by the mainstream browser. He said:

“We are excited that Opera, a mainstream browser with hundreds of millions of users, will now seamlessly support TRX and other TRON tokens. Soon, Opera users will be able to use dapps on the TRON blockchain.”

Opera aims to add multiple blockchains but wants to begin with TRON first. It is worth noting that TRON will become the second blockchain network to be supported by Opera – the first being Ethereum blockchain and lots of Ethereum-based tokens.

Opera has always been a supporter of the blockchain tech, and bringing TRON will also facilitate the use of blockchain dapps and tokens. Opera, through its representative, stated to Hard Fork (a popular section The Next Web) that,

“TRON is one of the fastest developing blockchains with plenty of dapps so it’s a logical step as we aim at growing the usage and ecosystem for dapps.”

TRON’s network has had little glitches in the past as reports indicated that most of the activities in the network come as a result of gambling and risky applications and that the network recently suffered from a bug that could have tumbled its ecosystem. Even though it has been rough all the way for TRX, it was recently named as one of the fastest growing cryptocurrencies in the world today, and that made Opera consider TRON, probably.

As stated earlier, Opera is one of the most significant browsers, and the company has more than 200 million online users today. So, it is inevitable that once TRON gets supported on Opera at full, there will be a massive adoption on TRON’s ecosystem.

Opera’s support for TRON hasn’t been actualized yet on its browser, but the browser developer told Hard Fork again that, “At this point, we cannot disclose any more specific details regarding availability.”

Despite Opera’s aim to list multiple blockchains in its browser, the company stated that it is evaluating top-notch cryptocurrencies and would add prominent ones with lots of use-cases – so probably, we may see EOS as the next in line. No doubt.

Opera’s decision to support a decentralized web is a welcome development to many. The world of P2P transaction is growing every day, and the Norwegian browser developer aims to contribute to that.

We shouldn’t forget that last year; Opera started this development by releasing cryptocurrency support for its Android and later made it available on the iOS App Store. The browser developer tagged this development as Reborn 3. While it’s still in search of the best blockchain network, Opera collaborated with HTC to create a perfect wallet integration for Exodus 1.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Venture Games to launch Tron-based AGE token and its first new game in the Tron network

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The Tron network keeps attracting developers to write and deploy decentralized applications for Justin Sun’s project.

Gaming is a significant source of entertainment for Tron users, as many of the most used dApps in Tron are gambling apps. Most of them are innovative in many ways, they offer fair betting odds to the players and users and have found exciting ways to share their profits with their players so that participation earns them a passive income of some sort.

The newest team to join Tron with a new app is known as the Venture Club. It aims to attract the attention of all the participants in the online casino environment of the world, which is a vast industry both for the conventional web as well as for blockchain platforms. Even within the blockchain world, many apps in the EOS system are of this kind too.

The AGE token by Venture

Venture is issuing a Tron-based token called AGE which will fuel the various games expected to populate its gaming platform. AGE’s total supply will be of 10 billion. 60% will be distributed among users through mining activities (which in this case means just playing the games). 5% will finance the project’s launch. 20% will be spent on marketing, transfer fees, and other necessary costs related to the new platform’s operations.

The Venture white paper assures readers that its selections of games will offer every possible genre known to man and that the platform’s game selection will be nothing short of addictive.

The Tron Weekly Journal is already one of Venture’s strategic partners within the Tron network. So users will be able to play its games using both TRX (Tron’s native token) and the Journal’s token, Tron Weekly. This is an unsuspected new use case for the Tron Weekly coin which was supposed to be a currency for editorial purposes only when we started. A big step forward for us.

AGE Mining Stages

There will be six mining stages for the AGE token. The first two stages will last for three and four months, respectively, while the rest will last for five months. Each step will see the mining of 1.000.000.000 new AGE tokens with TRX/AGE rations that will go from 5 to 6, increasing by 0.2 on each stage. Tokens that surpass the allocated AGE amount at each stage will be burned. Yes, burned.

The system will automatically payout its users once per week, on Wednesdays. The platform will fully integrate TronLink’s functionality, which will help protect every user’s privacy and improving usability. TronLink is a Tron digital wallet available as a Google Chrome browser extension that interacts seamlessly with most of the apps in the Tron environment.

How much I could make with Venture Games?

The income earned by Venture’s users will depend on the mining stage in question, but it will be a reward for playing, basically. That’s what we’ve seen so far in most of Tron’s gaming platforms. Venture’s plan, however, is very different (quite more extensive and fruitful) than those of already established platforms such as TronBet.

We look forward to seeing Venture’s new proposal in blockchain gaming, to enjoy the fruits of their work and to become addicted, as promised. It seems that Venture’s sites will be exciting, entertaining, compelling, convenient in terms of passive income, and easy to use.

Read Venture Club Whitepaper
Join Venture Club’s Telegram Group

Disclaimer: Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Ripple, the future: Wall Street forum talks about XRP

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A recent discussion forum held in Wall Street had a round of conversation about cryptocurrencies. There was mention of Bitcoin, Ethereum and others, but also Ripple’s XRP, and that turned out to be discussion’s most crucial point.

The forum’s participants agreed collectively that Ripple’s XRP will grow into the world’s preferred means of exchanging value, especially internationally, instead of the USD, which has been the world’s “moneda franca” since the end of World War II. And they had reasons to support such a bold statement.

Ripple’s tools and currency improve speed dramatically

The forum’s participants all agreed that Ripple’s technology and currency improve international transfers substantially. Settling a payment in the foreign exchange market using Ripple takes seconds instead of days (from two to seven) which is the typical time horizon when you use the standard SWIFT system instead.

The technology allows for real-time operations in the financial scene which was unheard of before Ripple come along. Additionally, Ripple’s new platforms such as xCurrent or xRapid, make everything even faster, cheaper and more reliable. It’s better for the banks and their customers. And, while they didn’t say this at the forum, it’s also better for the cryptosphere.

Ripple’s system can transfer any fiat currency into any other fiat currency, from one country to another, even faster than the Bitcoin network can. It can manage 1.5k transactions every second and payment is fully settled in four seconds or less.

Thus Ripple has a competitive edge over the conventional system which is outdated, slow, expensive, and prone to errors.

Jumping back onto the main point, Wall Street guys have been talking about it since 2018, last year.

https://twitter.com/stuart_xrp/status/1126147060548370433

Ripple is partnering with banks all over the world

Ripple’s leadership has managed to persuade more than 200 banks all over the planet to adopt its technology and its cryptocurrency to settle cross-border transfers. Some of them are running pilot tests, and some of them are already using it at the production stage. The Ripple Net continues to grow as we write this, and a new bank joins it every week on average.

Because Ripple is designed for this use case since its inception, it doesn’t only has the edge over SWIFT but also over other cryptocurrencies. Some digital assets are supported by blockchain networks that can manage only seven transactions per second. That would be better than the conventional system, but not nearly enough to persuade a bank to leave the old ways behind because it wouldn’t be real-time.

And Ripple is not working with commercial banks only. It’s also working with some of the world’s central banks. That will also help adoption with the rest of the local banks as they will find it convenient to adopt Ripple to expedite business operations with their own national central bank.

The forum concludes that settling payments using XRP has many advantages over the USD in terms of speed, price, and security. They believe that it will take about five more years to see XRP take that market away from the dollar for good.

Mind you, this is not a conclusion coming out of an XRP fan or bull (of which there are plenty) but from a group of Wall Street insiders which have not had the friendliest attitude towards cryptocurrencies in general over the last decade. So listening to them could be a particularly good idea.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

The USD 8000 level and the bullish Bitcoin trend

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Bitcoin has been rising since this April 2nd when it went from four to five thousand within a single hour. After that, the asset spent lots of time trading sideways, but it managed to stay above 5k all the time. Then it arrived, slowly but surely, to the 8k level (a few days ago finally) and a lot of people started to scratch their heads because, after 8k comes 8.400,00 which is an important psychological milestone for Bitcoin traders.

In this article, we will tell you why this 8,4k price level is so important and why overcoming it is such a bullish sign. Succeeding in the cryptocurrency market (in any market, for that matter) is much more likely for investors who observe the state of the market and understand when and why the momentous events happen.

The 8400 Bitcoin Level

As you surely know, 2018 was a disastrous year for Bitcoin and the other cryptocurrencies. That fateful year saw BTC trading sideways around this 6.4k and then 8.4 level. For months the currency managed to stay above, so it (especially 6.4k level) ended up being the most critical support level for the year at all levels (daily, weekly, and monthly).

In other words, while things were clearly not great, as long as that support level wasn’t breached, they couldn’t be too bad. So the price stayed there for ages until it went down. That was when it fell under USD 4.000,00. And things were indeed too bad at last.

That behavior is the kind of thing that leaves a scar of sorts in the minds of traders. Keep in mind that technical market analysis is not scientific at all, as any specialist will tell you. It doesn’t matter how many mathematical tools it seems to use; the fact remains that some numbers and events (especially round numbers) make even the most seasoned traders act in irrational ways.

The recent dance around 8k

A few days ago, the Bitcoin price started to test the 8k levels. That reminded everybody about the 8.4k level automatically, because it had been such a hard support level to break. Part of the technical analysis lore is that yesterday’s support level is today’s resistance level and vice-versa. So as the price came nearer to 6.4k, the thought materialized that, as a resistance level, it would be every bit as hard to break as it was last year when it had the reverse role.

The approach to 8k, and then to 8.4k was slow indeed for a short time. But we all know what happened next. Bitcoin broke both resistance levels, and it’s been soaring since then.

The conclusion

Breaking the $8.4k level on its way up is one of the most bullish moves BTC has achieved in its decade-long history. It means that the market trend is decidedly bullish and that the crypto summer is finally here, after those hellish 18 months of red numbers and sideways trading.

As we finish writing this article Bitcoin has gained over 50% in the last 14 days, and it’s trading at $7988, so it keeps going up, and chances are it will keep increasing in value for some time to come.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

The massive increase in Tron transactions makes the market happy, TRX approaches $0.03

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Tron, one of the top three dapp blockchains along with EOS and Ethereum, has had a very impressive first quarter according to its founder and CEO Justin Sun. Sun tweeted some figures that he got through dapp.com about the total transaction value of the blockchain network he leads. The numbers are quite astounding when looked at from an outside perspective, but are they worth getting excited about?

Dapp.com data shows a massive increase in volume, but not across the board

The data from the tweet indicates that the transaction volume has been steadily increasing month by month, with March completely overshadowing previous months with a 400% jump in transaction volume. The number of transactions doubled, which mean each transaction was worth about twice as much. That is despite having less active users than in each of the previous months in the first quarter.

Sun has long talked about how Tron is the perfect blockchain technology for dapps, and the market seems to be putting its faith in his project. Thanks to the enormous faith the community has put in, the 15th of March managed to be a stand out day for Tron where it had a higher transaction value than both EOS’ and Ethereum’s historical highs. The latest number, which Sun says surpassed 91 million US dollars is, in fact, higher than Tron’s very own monthly volume in January.

Smart acquisitions and partnership driving growth

Many in the industry think that the intelligent acquisitions and partnerships that Sun has engineered are helping the blockchain company come out on top of the dapp war. The purchase of BitTorrent and the subsequent ICO seems to have rejuvenated Tron’s hope among the community.

The addition of BitTorrent Tokens onto the Tron network and with that the addition of potentially hundreds of millions of users who will migrate due to BitTorrent’s popularity could see Tron become an overnight sensation.

While some of the sheens might have worn off due to mistakes made by Justin Sun, such as the Tesla giveaway incident and the Liverpool partnership mishap, the only part of a business that matters is the fundamentals. So as long as Justin Sun continues to innovate and make things easier and better for dapp developers, they will continue to flock to his blockchain.

Once the integration with BTT gets done in full, we could be seeing the emergence of a new, Web3.0 media powerhouse. Tron, along with Binance, could be the new heralds of Web 3.0 in the same way Facebook and Google were the heralds of the second wave of the web.

Consequently, it seems no matter whatever the critics keep saying, Justin Sun has managed to create a blockchain that has got developers excited and the community on the edge of their seats – and more importantly, the market is starting to notice. As we write this, TRX trades at 0.029 after surging by 11.5% in the last 24 hours.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

“Steps Up and Forward”: What has Changed on Tron Weekly Mining Program?

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“Steps Up and Forward,” a slogan recently being placed next to the Tron Weekly Journal’s official logo in the mining updates, does not only presents a signature of the project’s resiliency but also serves as a start of new chapters and new milestones for Tron Weekly, especially for the community.

Part of this new chapter is the revision of the existing reward system of our mining. Throughout the first seven weeks of the program, we have been observing its current structure and gathering feedback from the community.

It is to make sure the investors’ and the community’s interest to the token are being taken care of, and fair opportunities are being exercised for everyone. We have come up with a new program for mining so let’s go and know what has changed starting May 9th SGT.

  • There will be no base reward pool. No reward caps

By removing the base reward pool and removing the limitations on it, the community can now mine with more freedom and as much as they can. Before, we have actually set a limit to the max reward that can be given per week and it was 1 million Tron Weekly. Although that amount was only reached this past week, mining without that restriction will still be significant.

  • Mining will now be a pure point-based program

Unlike before where the rewards depend on the percentage of your contribution to the reward pool, Tron Weekly Mining will now rely totally on the points you will accumulate every week. In this new structure, the participants will get Tron Weekly in a ratio of 100 points = 10 Tron Weekly (minus the 3% CTP, to be explained below)

  • Creation and Launch of the CTP

The CTP (Contribution to the Pool) will be a fund where its 85% of it will be transferred to an address and will be burned every month (reducing total supply), and the remaining 15% will be used for TRON’s in-network fees in sending the rewards. Each participant will be automatically contributing 3% of their weekly prizes to the CTP. All Tron Weekly amount that will be collected for the monthly token burn can be viewed through the TRON wallet address provided below:

https://tronscan.org/#/address/TS51LjQa8bGSX9W2Tron WeeklyeZjHyfEA1pfB99B

So you might have a question here. Why are we going to burn some Tron Weekly tokens monthly? That has something to do with supply and demand. We consider and protect the collective interest in the token’s economy, and part of that is to reduce the maximum quantity. The other end, the demand, is connected to the additional necessary functionality of Tron Weekly which is to be announced to the public very soon.

This change to the mining program will ensure that everyone gets a fair chance of the getting the most rewards and a reasonable opportunity to contribute to the growth not only of the mining but also the overall Tron Weekly community.

Disclaimer: Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Bitcoin is worthless, 100% based on speculation: Canadian TV celebrity and politician

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Morgan Creek Digital Assets’ Anthony Pompliano is a regular guest at CNBC where he often talks about Bitcoin.

Bitcoin has rallied over the last few days, and it’s gathering momentum to break the 8k psychological barrier (it goes in and out for some time). That brings interest from observers out of the cryptosphere, of course, and Mr. Pompiliano is there to explain the situation to people who usually don’t follow crypto but are interested in the traditional financial markets.

On his most recent appearance, Mr. Pompliano was sitting next to Kevin O’Leary, the Canadian TV celebrity and failed conservative politician. Mr. O’Leary owes his fame to the show “Shark Tank” so he’s supposed to be a successful venture capitalist and expert investor. That’s why it was so surprising that he had absolutely nothing intelligent to say on the subject of Bitcoin.

He rudely interrupted most of Mr. Pompiliano’s intervention in the CNBC show by calling Bitcoin worthless, 100% based on speculation. Nothing but a scam or a digital game in his view.

Morgan Creek’s man tried to explain to him that money is a belief system and that there’s nothing intrinsically valuable supporting the USD either. Fiat and digital currencies are worth something only in so far as people using them believe they’re worth something, which is, of course, entirely accurate. There was a time in which gold used to back a currency’s value, but that’s not been the case for more than four decades now. You’d think that a reputable “investor” would know that.

But Mr. O’Leary doubled down. He said he invested USD 100 in Coinbase, and that his crypto portfolio has lost 70% of its value so far. Well, that may be true. The thing is if you go into any market at all without doing some proper research and a plan, chances are you’ll lose every time. If you just throw some money randomly at the stock market, for instance, you shouldn’t expect to make a profit even if you go for blue-chip stocks only. Aren’t you supposed to know that already if you are at Shark Tank?

So Mr. O’Leary, who clearly doesn’t understand even the first notion about Bitcoin, just threw around a hundred bucks in Coinbase and expected to turn a buck magically. That didn’t happen, and now he blames it on crypto.

No amount of patient explanations on Mr. Pompliano’s part were able to make a dent in Mr. O’Leary’s objections, who’s clearly not willing to listen to anybody else and likes the sound of his own voice a little too much.

Kevin O’Leary’s objections to Bitcoin say nothing about the digital asset itself. But they reveal everything about the man who’s talking. He’s ignorant, willingly disinformed, too lazy (or lacking in brilliance) to understand the new technology and his implications, set in his own ways, and arrogant. The only thing we can learn from his opinions is the confirmation of that old saying: “old dogs don’t learn new tricks.” It’s painfully true especially if the dog is too stupid and lazy.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Tron (TRX) daily trading volume surpasses $1 billion

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It’s been a good day for the cryptocurrency market with lots of green numbers in the mix. And Tron’s performance has been among the best on a perfect day.

The trading volume for TRX has been above the USD 1 billion mark in the last 24 hours. While this is not a rare thing for Tron (it had surpassed the billion level only 14 days ago). It’s excellent news for the project as well as for TRX holders and in this article, we’ll explain to you briefly why.

Traders, professional or otherwise, have a set of tools to observe and construe the cryptocurrency market. The best-known among them is technical analysis (which despite the name is neither that technical or scientific) which is a set of rules that, based on past market behavior, are supposed to be able to forecast or explain current and future behavior. These techniques are hit or miss, which means that none of them works 100% of the time.

The trading tools we refer were not developed with digital assets in mind. They’ve been around for ages in other, more traditional markets such as the stock market or the foreign exchange market. Applying those devices to crypto means to assume that the digital currency market is intrinsically the same as Forex or the stock exchange. That is a very complicated question that we won’t tackle here, but it’s worth mentioning because, in the future, the correct answer could make all the difference.

Every resource available for technical analysts is based on an asset’s price. The price is the most crucial piece of information, and every indicator there is in the books is nothing but price data scrambled in some way or other. The core belief is that the price includes or implies everything you need to know about a tradeable item.

The problem with that assumption is that it’s not always correct, which is why there are traders who base their activities in fundamental analysis instead of technical – and another on is that price behavior is quite erratic in all markets.

Indeed, many statisticians have “proven” that prices change in purely stochastic ways and that any attempt at prediction is futile. While this could be true from a 100% scientific angle, such things as trends do exist, and some of the indicators available in technical analysis can indeed be useful to identify them.

So, it’s all about price, right? Well, kind of. There is another piece of data that traders use to confirm behavior. For instance, you could have a sudden dramatic rise in the price of a Forex trading pair (say, EUR/GBP). Would that be enough of a signal for you to jump in and start buying? It depends. The spike in price is not enough.

A rise in value can’t be considered to be genuine unless it’s accompanied by a high trading volume, and that’s why trading volumes matter so much. They are the authenticating factor for market trends, like the watermark or the hologram in a banknote. It means the market as a whole is noticing the asset and trading it. Trading volume means relevance.

And that’s why today’s trading volume for Tron’s TRX is such good news. It means that the crypto space, which is now quite optimistic and active, is noticing the token and going for it. The market for Tron is of 93% buyers as we write this, so the market sentiment is bullish. And if you doubt that, you can always corroborate by looking at the trading volume.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.