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Dapp Success Helps TRON (TRX) Surge in Value

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Binance Research, the crypto trading research arm of Binance, has revealed that Tron is going to have substantial growth ahead. The interest shown in the currency has surged recently, and the number of dapps has risen tremendously, to 402 in total. This puts Tron ahead of Ethereum and EOS and positions it as the ‘de facto’ leader in dapps.

Adding its stable position in the top 10 cryptocurrencies by market cap, it has been drawing the attention of a lot of traders in recent weeks. Binance Research showed that the last 24 hours of trading had shown Tron TRX to be the most influential cryptocurrency with the largest number of users.  This is all due to it being used for a wide variety of purposes.

Variety is key to TRX use cases

TRX currently has over 100 million transactions that are being used for a wide variety of purposes. One important use it the provisioning of services via the Tron network as in the tweet above. TRONBet is the most active dapp on the Tron market right now, and the services are all provision via the Tron network using TRX. There is also the execution of small smart contracts and the issuance of TRX tokens.

In short, Tron is being used for more and more reasons and not as a normal cryptocurrency only. It has managed to shift the goalposts more in its short time than Ethereum has since 2015. The reason Tron has been able to do this is because of the hard work of the CEO in securing meaningful partnerships and eyeing smart mergers. The BitTorrent acquisition was seen as a phenomenal coup for the company by everyone involved in the industry. It will change the way numbers are reported by order of magnitude.

BitTorrent and Stablecoins change the game

Once BitTorrent and its BTT token are on the network, Tron will have a userbase int he hundreds of millions. This will give the company a reach that no other cryptocurrency currently has. It will also cement its place as the go-to blockchain for the entertainment industry. Having sewn up gaming dapps with its negligible transaction fees and fast network, and now the entertainment industry with BitTorrent, the only way forward is getting a regular means of payment between various actors in its network.

Pursuant to that ideology of getting talent paid, it has shifted the focus it has with regards to cryptocurrencies. Tron is now backing more and more stablecoins. The first stable coin to partner with Tron and merge with the Tron mainnet is Tether USDT. The dollar backed stablecoin will allow Tron users to deal with a fiat backed crypto that is tangibly valued. This will allow its soon to be massive userbase an easy way to get paid in real life as well as in the network.

However, the USDT swap has been going slower than initially expected, and the airdrop that was announced has been moved to May the 7th. Exchanges asked for more time to swap the coins so that they are ready when the airdrop finally hits.

Finally, security is being tightened, and this is giving a lot of users and traders more confidence in the long term success of the network. A blockchain startup called swarm is providing these security services and the result according to industry experts is a much more secure Tron.

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 ownership in the US improved dramatically since 2017 despite the crypto winter

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Recent research has shown that the giant crypto, Bitcoin (BTC), is now more understood as well as accepted by Americans than it was during the 2017 bull market. Surprised? Data doesn’t lie.

A survey conducted online by The Harris Poll on behalf of Blockchain Capital asked a series of questions among 2,029 American adults from April 23-25, 2019. The recent study happened to be the follow up to a similar survey that was conducted in October 2017 during which the prices were on the rise and the market sentiment in overall was completely different.

The Cure Spreading Across the US

The survey was divided into different categories, and the first category was asking the participants whether they had heard of BTC. Interestingly, a whopping 89% were positive that they heard about it which was 11% more than the previous research which recorded 77%.

What makes it even more interesting is the fact that there is a massive difference in terms of the timeline the tests were made. Precisely, Bitcoin was up more than 800% in 2017 whereas the recent survey was conducted in a bear market with the price down roughly by 75% from the all-time high.

Familiarity

Another key aspect that was tested is the familiarity of the crypto giant. The participants were given a series of responses to the question of how familiar they were with bitcoin among them being: never heard of it, heard of it but not familiar, somewhat familiar, very familiar, and I own or have owned bitcoin.

Those at least somewhat familiar increased from 30 percent in 2017 to 43 percent in the recent research. Those aged 18-34 were represented with 60% as those somewhat familiar which is an increase from 42% in 2017.

Perception

The next aspect was about those who either strongly or somewhat agree to the fact that bitcoin indeed is a positive innovation in financial technology. Also, there was an increase as 43% of them agreed, an increase from 34% in October 2017. The younger demographics had a more positive view about bitcoin which may suggest an increased future adoption of bitcoin.

Conviction

33% of people strongly or somewhat agree that in the next 10 years most people will be using bitcoin. The number represents an increase from 28% who had a similar feel in 2017.

Besides, it’s still the younger demographics with the most conviction in the adoption.

Propensity to Purchase

Despite the bear market, those that indicated to be very or somewhat likely to purchase Bitcoin (BTC) in the next 5 years rose from 19% in 2017 to 27% in April 2019.

The individuals aged 18-34 are 42% more inclined to purchase with others showing preference of bitcoin to government bonds or stocks in the future.

In total, 11% of the US population owns bitcoin which includes 20% aged 18-34 and 15% aged 35-44.

Younger Generation Championing the Revolution

The survey clearly indicates that the ‘younger’ generation has more knowledge of being familiar with or accepting bitcoin.

In fact, Bogart himself states that bitcoin is a demographic mega-trend with younger demographics leading in almost all aspects regarding awareness, perception, familiarity, propensity to purchase, conviction and ownership. All the same, it looks like the crypto world is slowly but steadily gaining adoption, and who knows what the next 10 years has in store for us?

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.

Multi-chain Project Ontology to Emanate 100 Million PAX on its Blockchain

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Last Friday, Ontology, a Singapore-based public blockchain that supports collaboration amongst chain networks with its various protocol groups, made its plan public about the launching of the Paxos Standard (PAX), a digital currency that is backed 1:1 with U.S dollars, on its blockchain.

Through this partnership, Ontology plans to explore the application layout on Decentralized Finance, another partner project of the blockchain, beyond exchanges. According to the announcement, the launch of the PAX token on Ontology is set to take place next month, in May 2019.

Per the official announcement, the resultant token of the Ontology and Paxos collaboration will be based on Ontology’s OEP-4 token standard, and it will continue to keep PAX as its ticker. The firm plans to launch 100 million PAX (initially to meet demand) onto the Ontology network. The newly launched token will be beneficial for individuals as well as businesses that are using Ontology’s Token (ONT) to rely on fiat currencies.

The release notes,

“PAX will enable atomic swaps between the Ontology-based main blockchain and blockchain network and make it easier for individuals and institutional partners to do business pegged to fiat in the Ontology ecosystem.”

It is worth noting that Paxos Standard was launched in September last year after the New York Department of Financial Services (NYDFS) sanctioned Paxos Trus Company for a stable-coin, pegged to the U.S dollars. The currently available PAX token is based on the Ethereum’s blockchain as an ERC-20 token.

The token is already supported by a large number of exchanges as well as ensures open auditing by top tier auditing firms monthly, to ensure the safety of all of its deposits being kept at the registered, insured banks in the country.

As one can imagine, Rich Teo, Co-Founder and Head of Asia for Paxos Trust, seemed enthusiastic about this partnership as the outcome would undoubtedly help them with their vision of transforming the digital currencies with advanced innovation.

 “This news shows how PAX can continue to meet the ever-changing needs of digital asset communities and Paxos’ dedication to advancing innovation in virtual currencies”.

Talking about the partnership, Co-Founder of the Ontology Network, Andy Ji stated that although Paxos has permitted Ontology to launch PAX on the network’s blockchain, still the firm will be responsible for the KYC (Know Your Customer) process and U.S dollar transactional dealings. In his words:

“The launch of PAX on the Ontology blockchain will greatly accelerate real business applications on Ontology, create more success stories of traditional businesses shifting to distributed businesses, and provide enterprise partners and institutional investors with a regulated, reliable, and safe gateway to the world of digital assets.”

At the time of writing this piece, according to the CoinMarketCap, Paxos Standard Token is available for trade at 1.01 USD having a market capitalization of $155.073 million and is ranked at 44th spot among all the cryptocurrencies.

Image courtesy of Pixabay.

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.

John McAfee and Satoshi’s true identity

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McAfee

John McAfee is a very successful technological businessman who also has something of a reputation as a Maverick. He founded the company that bears his name, and that was a pioneering force in digital security. He’s smart, colorful, controversial, rich, and he likes to speak when he feels like it, using his Twitter account from his home at the Bahamas.

The new fork in the Bitcoin Cash project was very annoying for Mr. McAfee. Bitcoin Cash became two different blockchains. One is Bitcoin Cash ABC (which recovered pretty quickly from the split and has been performing reasonably well in the market) and Bitcoin SV (SV stand’s for Satoshi’s vision) which has been an unmitigated disaster.

Craig Wright

Bitcoin Cash Satoshi’s Vision is named like that because it came to life because of Craig Wright’s influence within the Bitcoin Cash community. This is the man who’s claimed to be none other than Satoshi Nakamoto, the man behind Bitcoin and the cryptocurrency revolution.

While most cryptonauts (as far as we can tell, there’s no hard data on this) are more than skeptic about Mr. Wright’s claims, there is a small number of people in the world who actually take Mr. Wright at face value. That’s given him quite a bit of prestige and influence in certain circles, and this annoys the hell out of John McAfee.

Mr. McAfee has used his Twitter account to express his discontent. He says that he personally knows who Satoshi Nakamoto is. The hacking expert is sick of scammers trying to hijack Nakamoto’s name and merits and using them to deteriorate the cryptosphere as a whole.

He’s got a particular beef to pick with Wright as he said in a tweet. He believes that the alleged Satoshi’s enhanced reputation is the only reason that he was able to come up with BSV which is a “scam that hurt us all.”

So he decided to do something about it: to push things so that Satoshi Nakamoto finally comes forward and reveals himself.

For several days he started offering clues about Satoshi’s real identity so that his true identity can be narrowed down or so that he stops hiding. So what do we know so far? He’s not the CIA, or any agency, or any of the world’s governments.

While that seems a silly thing to clarify, it’s the notion of choice for conspiracy theorists. He lives in the USA. There is no single man behind the development of Bitcoin’s network and launch, but it was instead done by a group of people. But the Bitcoin whitepaper has only one author.

And that’s as much as we know from Mr. McAfee. And then the manure hit the fan.

Further suspense

It turned out that Mr. McAfee is wanted by the IRS because of tax-related problems. Since he lives in the Bahamas, he could face an extradition process if the American government wants him badly enough. That hasn’t happened yet, but as the tycoon’s lawyers advised him that keeping up the Satoshi things could only complicate his legal status, he’s desisted from telling us all who the Bitcoin creator really is. At least for the time being. You can actually read the letter from the lawyer (Mario A. Gray, an expert in extradition processes) at the Twitter account in question.

So when will we find out who Nakamoto is? We have no idea. But it seems we could learn his identity before we expected.

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.

DarkMatter (DMX) becomes the first token on the Tron blockchain to enter AR

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You’ve probably heard about Pokemon-go already. The concept behind the game is called “augmented reality,” and it means that an app you can install in any smartphone that uses your camera to add an extra layer of virtual objects to the otherwise typical environments that you can see using your phone’s camera. And it could be in the street outside your home, on your way to school or work, or anywhere in your city.

The point in the Pokemon-based augmented reality game is to hunt for Pokemon creatures. Thus you get points, build a reputation and join the game’s ecosystem. It’s developed a very loyal community.

What would happen if you had an app that works in basically the same way but in which you hunt for cryptocurrencies instead of Pokemon? Wouldn’t that be a lot more exciting? Well, the good news is that that app has been around for a while already. It’s called Aircoins.

Aircoins aims to popularize cryptocurrencies by attracting otherwise indifferent or casual users to the market. In the company’s CEO’s own words, Mr. Emal Safi,

“We are hoping to create the largest AR cloud, which will have information from different systems available, to give users real-time information based on their geo-location, anywhere, anytime”

He added,

“We already have dozens of partners coming forward to integrate their AltCoins into our secure Blockchain platform and gaming environments. We expect the App to do very well in all markets. Most people have already heard of the Crypto craze and Bitcoins.”

Many cryptocurrencies are already supported in the Aircoin app so, if you want to get some relatively passive income in the form of digital assets of all kinds, all you need to know is go to your app store of choice (Google’s or Apple’s), install the app, and start playing.

And if you’re a Tron community member, there’s even better news for you because Aircoin is joining forces with Tron-based Moon Marketing. The project is a marketing service that seeks to create marketing strategies in which gaming, marketing, and blockchain technology come together to boost their client’s campaigns into a whole new level. The project includes a Tron-based native token, which is called DarkMatter (DMX). And that’s the cryptocurrency you can now hunt if you install Aircoin in your mobile.

It is a significant milestone for Moon Marketing, of course, but also for the Tron community, as it’s the first time that a Tron-based token becomes part of an augmented-reality project. Playing the game is quite easy, and you could find that there’s a coin waiting for you in the most unexpected (and ordinary) places that you see all the time as you just go on with life. But beware: you could become addicted.

DMX’s inclusion in Aircoin is excellent as this is a coin that was issued with the gaming world in mind because the Moon Marketing project sees gaming as one of the most promising branches in which blockchain technology could (and should) expand shortly. But also because it’s understood how gamers all over the world are a very receptive bunch when it comes to cryptocurrency adoption.

So the virtual ball is on your court!

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 marches towards stability, the month of may might be profitable

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The price of Tron’s TRX, the 11th largest cryptocurrency in the market, has been inconsistent for the past couple of weeks. It’s been subjected to many rises and falls, where on the other hand, the market has been relatively stable for the other significant cryptocurrencies during the whole month since the bullish trend begun after the unexpectedly (but welcomed) fabulous growth in the price of Bitcoin at the beginning of this month.

The said bullish movement that made sure to keep other currencies in its loop wasn’t constructive in the same regards with Tron’s price that keeps on falling slowly, which brings us to the question: Is there any positive news for the Tron in coming days? There sure is. Let’s dive into it.

Europe’s Giant Exchange Bitpanda is About to List Tron

On last Friday, April 26th, Austrian-based cryptocurrency exchange, Bitpanda announced that they are going to enlist Tron on the platform by May 2. With this announcement, Tron adoption and popularity is more likely to increase as Bitpanda is considered as one of the largest crypto exchanges in Europe.

Interestingly, Bitpanda has come to this decision by conducting a poll (on its Twitter page) among its user-base to choose which cryptocurrency they want to see on the exchange, and obviously, the larger number of the crypto community voted for Tron. TRX got 44% of the total votes.

Huobi DM Adds Support for Tron

Also on the same day (Friday), Singapore-based Huobi DM, one of the largest digital exchanges in the world announced that they are going to add support for Tron on the platform. With this announcement, the platform will facilitate its tradesmen to take leveraged positions on Tron’s coin (TRX).

Ross Zhang, the CEO of Huobi Group, made his views public about the said partnership with Tron as follows:

“The addition of Tron is another big step towards our goal of making Huobi DM the most powerful and flexible platform of its kind, Ross Zhang.”

Will these developments affect Tron’s price in any way?

With all the uncertainties hovering around Tron’s price these days, the takeout is that foundation isn’t really stuck behind, but instead, it is wholly focused (as always) on making moves and securing partnerships with globally renowned platforms that will have a long-lasting effect, both on Tron and the community.

We can recall that the coin has faced the same kind of circumstances in the past, but it stood out stronger than many major cryptocurrencies even during the previous bearish period and hold onto its price better than its contemporaries.

At the moment, the price of Tron stands around $0.023 ($0.022793 to be exact), and according to many crypto pundits, it will ascend to the $0.030 mark in the month of May. Although the pathway might have inconsistencies, the outlook of the Tron’s price is bullish for both medium and long term. The price is also predicted to rise to $0.1 mark by the end of this year along with some steep falls and rises expected in the same period.

Anticipating this strong bullish trend up for Tron, experts advise that short term traders should make their purchases right now. In doing so, there is a strong possibility of 50% gains for their investment in the next month of May. Long term traders, on the other hand, can profit in large extent if they can hold onto their investments until the end of next year, 2020, when Tron is expected to shine at mighty $2 mark.

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.

France’s new crypto law forces banks to deal with crypto startups fittingly

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Getting a bank account if you are in the crypto industry is complicated. Double that trouble if you are a fledgling startup with no track record and no cash, but that is now a worry of the past, thanks to the recent crypto law France introduced. The constitution guarantees a bank account to any crypto company that is willing to opt into regulation.

It is a surprising move by the French government and the financial regulator AMF (Autorité des Marchés Financiers), which might be seen as avant-garde compared to other large countries such as the United States. In the US, the regulators have warned about “reputation risks” to banks that provide a deposit account to companies in the digital currency business.

Talk between AMF and stakeholders: Key to regulations

Domitille Desertine, the head of AMF’s fintech, innovation and competitiveness divisions, there was apparently good feedback from cryptocurrency businesses that was matched by the authorities. She went on to say that the government is supportive of the right to access to banking as long as the company in question is regulated.

She added that while the relationship between a bank and a startup is still contractual but if the bank refuses, they will need to justify to the AMF why they did not allow a startup to open a bank account. This will apply to all banks; no matter small or large, without exceptions.

IMF fintech head also drew a parallel to the crowdfunding issue a few years ago where banks did not want to open up bank accounts for those platforms because the money was coming from “random places on the internet.” She stated that this requirement is just one, a small part of a far-reaching blockchain focused bill that was adopted on the 11th of April.

PACTE Law offers many more options to blockchain based businesses

The French government has been keen to become a top destination for blockchain and cryptocurrency businesses. The law is designed to create a much more favorable environment for small and medium enterprises that they believe will boost the economy with a wave of innovation and entrepreneurship.

As per Domitille, there is also a provision in the law for visas to be offered to businesses that plan to provide ICO services and other “digital asset service providers.” Exchanges and custodians are also part of the plan. This is not a spur of the moment law; there has been a sense of urgency to put it into the place according to a partner at Simmons & Simmon, a top Paris based law firm. Emilien Bernard-Alzias stated that plans began some time ago and have only now come to fruition.

Dessertine meanwhile has said that interest in the new framework has been high with “20 to 30 digital asset service providers having been in touch already”. Though the formal application process will not be open yet, with the end of summer being touted as the start point, it seems that many firms will be prepared to jump as soon as the doors open.

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.

TRONbet going strong; sets the standard: New game platform launched

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No matter how you feel about the online casinos or gambling in general, one thing would be hard not to be appreciated – the brilliance behind TRONbet.

Undoubtedly, blockchain technology has transformed the industry, and TRONbet uses the technology to ensure that all supported games are fair. That is hugely significant in online gambling, or any other gambling business, for obvious reasons.

A New Game Platform Launched

Tron network powers Tronbet, and it is worth noting that it has been on the top 3 dApps list on Dapp.com for ages now. Interestingly, it has seen a skyrocketing growth of users and transaction volume with the last 24 hours recording over 2.3k users.

Although TRONbet is indeed going strong, it has added a catalyst. A new game platform, TRONbet Live, got launched a couple of days ago that includes live dealer casino games, slot games, and mining opportunities.

All You Should Know About TRONbet Live

Players are offered a range of slots titles as well as a chance to earn live tokens while they play. TRONbet live becomes the very first platform across blockchains (and centralized crypto casinos, too) which allow playing as well as earning in the same currency.

Also, it will provide an opportunity similar to ANTE (mining the new LIVE token while playing). What’s different with the new platform is that you’ll be required to deposit Tron (TRX) into a smart contract as well as withdraw balance from the smart contract.

Two games are available on Tronbet LIVE platform: SLOTS (already live) and LIVE, a live table game that is going to be launched shortly.

The LIVE token is a TRC20 token which allows users to become stakeholders of the TRONbet Live and earn some profit. There’s a total supply of 999 million of the LIVE token. The LIVE token can be made by spending/playing TRX on the platform. It can as well be frozen to receive dividends in TRX two times a day.

The LIVE token is not to be available initially to trade on any exchange, but later it will be launched on a DEX.

The SLOTS Games

SLOTS are among the top 5 popular odds-based games across the globe, and now TRONbet LIVE users have the opportunity to enjoy SLOTS at home while they also earn and mine cryptocurrencies.

Players will be able to win considerable amounts with only small bets. And of course, SLOTS are fun as well as easy to play. The TRONbet slots are indeed impressive as they even managed to earn applause from Tron founder Justin Sun who said the SLOTS game is “crazy.”

Currently, there are ten unique SLOT games on the platform with universal jackpots to be launched in the future. Are you ready to mine on TRONbet LIVE? Get started and enjoy the experience of winning big with merely small bets. Surely, only if you like the idea of betting (play at your own risk).

Image courtesy of PixaBay.

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.

Nano goes in the rest mode shortly after waking up

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Nano doesn’t get a lot of attention from article writers, analysts and other observers in the cryptosphere.

It started the last week ranked 35th by market capitalization according to coinmarketcap.com. This rank means that while it’s not a negligible project, it’s far away from the big boys in the top 10.

Nano was founded in 2015 by Colin LeMahieu. It’s a very innovative project which aims to make P2P and micropayments very quick, free (as in beer) and reliable. And it tackles that problem from a very different angle than any other project in the world.

For a start, it’s not a blockchain, but several. One for each user. Yes, that’s right, every single user in the network gets his own blockchain, and every user validates its own transactions. Nano’s wallets are not passive coin holders but mining devices of sorts which are pre-calculating the Proof of Work needed for the next operation. That allows for transfers to be instantaneous because the new blocks required to be appended in each chain (the sender’s and the receiver’s) are ready beforehand.

The math behind the blockchain is very light, so it’s very efficient and light.

So transactions are instantaneous, the network has zero transaction fees, and it’s infinitely scalable because there’s a blockchain per user, so the load on the network as a whole is almost non-existent. So it may not be famous (yet) but Nano is designed from the get-go to facilitate micropayments, and its take on the problem is so innovative that it could succeed and achieve mass adoption given enough time.

And during the week, it showed signs of moving forward.

The forecast

There was a technical analysis prediction at some point during the last week. It was made very carefully by an obscure crypto guy who has a rather new YouTube channel (and we’ll tell you who he is as soon as we’ve made sure he’s consistent and the Nano prediction wasn’t a fluke). The forecast was that the token was on the verge of experiencing a bull run that would take the coin’s value up to USD 1.64. That was a bold prediction at the time.

The funny thing is that the prediction didn’t only come true, but it even fell short as the coin reached a height of 1.82, which is remarkable.

There is not enough trading volume for Nano, which is one of the critical signs that support the arrival of the bulls into any market, but the price has remained high.

The aftermath

As we write this, the currency is not ranked at 35th anymore, but it’s fallen to 36th after climbing to 32nd last week. It’s currently trading at 1.34 (went down by 8.40% in the last 24 hours), which is lower than 1.64 but not by much and it’s still an impressive price given the token’s recent history.

So maybe you had not heard about Nano until today, which would be quite reasonable. But now you have, and you probably should keep an eye on it in the weeks and months to come. Nano has been around for about four years, and its fundamentals are strong enough for the project to have survived the 2018 general calamity that was the cryptocurrency market. While it remains obscure and lacks adoption, there’s no telling how far it could get in the future. Remember, this is the crypto verse. Everything can happen, and things get turned upside down in a heartbeat.

Image courtesy of PixaBay.

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.

Huobi adds Tron derivatives one month after adding Tron wallet

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Huobi, the popular cryptocurrency exchange based in Singapore, has opened up its Huobi DM platform to Tron futures. The move will see the platform allow its traders to take short and long positions on Tron’s coin TRX in addition to other actions such as arbitrage, hedging, and speculation.

The rollout on the platform will begin with the disbursement of 1 million TRX tokens to its registered traders. It will also include 100% maker free rebate in the deal as well. The press release issued by the Huobi DM exchange promises that assets will receive many of the same functionalities that can be found on traditional derivatives markets.

The platform looks promising to traders

Huobi DM’s platform, according to the press release that got issued following the announcement of Tron addition, says that the fee structure will be extremely competitive for the Ethereum competitor.  The cost for makers to open or close will be set at 0.02%, while it will be 0.03% to open or close for takers.

The platform will give traders superior risk management tools including, but not limited to, Price Limit, Order Limit, and Position Limit. They promise that their price limit mechanism has superior risk control than other platforms, with no clawbacks having occurred since they launched the platform.

The press release also reiterated how closely the platform monitors various data to fully ensure that its risk supervision runs in real time is not just industry competitive, but to be an industry standard. They also go on to say in the press release that all open position limits for all crypto contracts will be at two times their previous level. Order limits will receive the same treatment of getting a double boost. These are only valid for newly raised opens and orders.

They want to put their customer base at ease, which is why they have created a Risk Management Insurance Fund. The RMIF is different for each trading pair, and under wanting to provide the most user protections as possible, they will be giving each trading pair a dedicated RMIF. This would be to cover any losses that occur due to unfilled liquidated order and settle incidents as can happen on a platform that deals with this type of financial trading.

Huobi moving forward quickly, pulling Tron in its wake

The CEO of Huobi DM spoke on the subject a couple of days ago and commemorated the addition of Tron as a “big step to making Huobi DM the most powerful and flexible platform of its kind,” while at the same time promising to add even more coins over the coming year.

This aggressive expansion has been the trend for many crypto exchanges this year particularly among Binance, Coinbase, and Huobi. Binance, in particular, has been in the news leveraging its Binance Chain to establish an ever-growing list of coins into its ecosystem, sometimes in very unsavory ways. This is par for the course for 2019 it seems.

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.