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Tron [TRX] And Bitcoin Cash [BCH] Slip Of The Price Ramp

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The stupendous rise that the cryptocurrency market witnessed over the past few days seems to have come to a halt after the prices started dropping again. Popular cryptocurrencies like XRP, BCH and TRX all saw price drops, a sign of the market volatility during the period christened by cryptocurrency enthusiasts as ‘crypto-winter’.

At the time of writing, Bitcoin Cash [BCH], the fourth largest cryptocurrency in the market, was dropping by 4.85% with a market cap of $10.230 billion. BCH was trading for $586.40 with a 24-hour market volume of $962.617 million. The cryptocurrency, whose upcoming hard fork has created a buzz in the cryptoverse, had undergone a massive spike of 42% over the past seven days.

BCH chart e1541659326359

A majority of Bitcoin Cash’s volume was held by OKEx, with a total grasp of $106.549 million. OKEx was closely followed by DigiFinex where $85.476 million of the total BCH trade took place. The BCH hard fork was also put under the spotlight when Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that Roger Ver was involved in Bitcoin Cash just for the ‘tokens’ and not for anything else.

Another cryptocurrency that was buckling under the market volatility was Tron [TRX], sliding at the rate of 3.06%. The cryptocurrency was trading for $0.0235 with a total market cap of $1.547 billion. A major portion of Tron’s 24-hour market volume was held by Bithumb, on which $43.552 million worth of Tron transactions took place. Bitthumb was closely followed by Binance, the Changpeng Zhao led cryptocurrency exchange enjoying an $8.175 million grasp on the total trade volume.

TRON chart e1541659678642

Tron made news recently when the Tron Foundation announced a new bug bounty program on the famous Hackerone. The Foundation aimed to propagate their mission towards mainstream adoption by offering $10,000 as a reward for finding critical issues.

The critical issues stated by Tron covers bugs that can take control of network nodes that can be operated from remote locations. The Foundation has also promised rewards worth $6000 for uncovering other issues pertaining to Denial of Services on P2P networks.

Ethereum [ETH] Maintains Its Stronghold On The Cryptocurrency Charts

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Ethereum [ETH] has been fighting hard in the cryptocurrency market trying to fend off XRP from taking over its position as the second-placed cryptocurrency on the charts. Just recently, XRP had taken over Ethereum to become the cryptocurrency with the second most market cap on the charts, after which ETH regained its dominance.

At the time of writing, Ethereum is trading for $219 with a total market cap of $22.57 billion. ETH also held a 24-hour market volume of $1.983 billion.

Ethereum also made news recently when Glen Weyl, the Principal Researcher, Political Economy and Social Technology at Microsoft Research New York talked about the Ethereum blockchain and its Co-Founder Vitalik Buteruin. He stated:

“It seems to me that in the same way, the “use case” of @ethereum is less any particular technical question and more offering a vision of the future that can save us from returning to the 1930’s next time we hit a recession. I wonder what @VitalikButerin thinks of that.”

Vitalik Buterin was not someone to shy away from the use cases of the Ethereum network, saying that Ethereum 2.0 will be 1000 times more scalable than its predecessor. The Co-Founder of Ethereum banked upon the latest version of Ethereum called ‘Serenity’ and said that it is aimed to be more secure. Buterin also said that Serenity will be able to perform a multitude of operations while consuming very little energy. He added:

“Serenity is the world computer as it’s really meant to be, and not a smartphone from 1999 that can process only 20 transactions a second.”

Vitalik Buterin had also spoken about the Ethereum 2.0 upgrade by calling it a marked step up from the already established network. He said:

“It is a combination of a bunch of different features that we have been talking about for the past several years. We have been actively researching, building, and now, finally getting them all together.”

Tron (TRX) Delivers On A New Milestone, Again

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Tron’s project includes something called “The Tronic Support Plan” which was created for a single purpose: to enhance and speed up the adoption of Tron’s TRX cryptocurrency. Yesterday, the Tron foundation announced officially that the plan’s third phase is successfully completed. This prompts the release of more than eighty-seven million TRX tokens.

Those coins used to be locked by the Tron foundation. They will be released into a locked address which ranks 489 among the 1000 known Tron addresses known to exist. But it’s important to notice that this will not create any kind of inflationary pressure on the asset because the number of tokens available will not be affected by this move.

The Support Plan Marches On

The foundation announced the news through its official blog. It was very clear in saying that it’s undertaking actions to ensure that all the community members that have been supporting the Plan since it started will get some kind of reward. The foundation stated that those released TRX coins would be cleared and the new address will be wiped out from the current locked addresses list.

Furthermore, the Foundation wrote that the tokens still in the platform’s care will be used to match the funds that are currently funding its supporters. The Tron community will be able to confirm all that once the platform releases everything next January 2020. The ownership of all the addresses that are being currently released will be transferred to the community.

The Foundation will remain in charge. It will release the funds to finance recognized supporters, and that will correspond to the tokens that haven’t been released yet to the public at large.

What about Tron’s future?

The Tron Foundation has been remarkably grateful to its community and supporters. It’s thought to be the most engaging blockchain project in the world, thanks to its leadership. And it seems it will continue to be the same in the present and the future as it’s thanked the community for becoming as big as a hundred million users since it went live, barely a year ago.

The project’s leadership reminded the community of the project’s aim, which is to turn the web into a decentralized ecosystem that runs on blockchain technology (Tron’s blockchain, more specifically). And that will enable the foundation to keep engaging supporters and users who have shown an incredible degree of faithfulness to the brand as well as the ideals.

The success shown by the Support Plan is expected to prompt the Foundation to change the total number of tokens in circulation at any time. The plan includes to publish, sometime soon, a list of all the community members that have been pivotal in supporting the project, and to honor them for the contributions they’ve made since the project started.

The Tronix token’s price remains cheap (some would say stuck). But the project keeps delivering results as every projected milestone is met with results that surpass expectations, especially by the Tron-skeptics.

If you are among the skeptics, take a bit of time to review Tron’s recent history. If you’re among the enthusiasts, don’t lose your head. There’s a lot of progress, but there is also a very long way to go.

Tron (TRX/USD)Technical Analysis

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The cryptocurrency market seems to have come out of its price slump with almost all the coins seeing price hikes. Popular cryptocurrencies like Bitcoin [BTC], Ripple [XRP] and Tron [TRX] all saw trend changes, lifting the prices above the level it was stagnating at for a long time. Tron [TRX] has been on quite the developmental roll for some time and the price hike has made the entire community exuberant. At the time of writing, Tron is growing by 2.7% with a total market cap of $1.581 billion and trading for $0.0241 with a 24-hour market volume of $81.699 million. 

1 hour: 

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The Tron trend lines show a clear uptrend, taking the price from $0.0232 to $0.0242. The price support for the cryptocurrency has been holding at $0.0215 while the resistance at $0.0257 has not been broken yet.

The Bollinger bands on Tron point to a clear divergence of the upper Bollinger band and the lower Bollinger band, which is indicative of the price hike. The expanded Bollinger cloud has come after a long sideways price movement interval.

The Awesome Oscillator [AO] has taken a turn for the better, showing an increased surge in the graph. The surge is a sign of the market momentum picking up in the cryptosphere.

1 day: 

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The one-day TRX graph shows a  major downtrend in prices compared to its peak in the earlier months. The support has been consistently holding at $0.0179 in a time period where the downtrend brought down the price of Tron from $0.05729 to $0.0241. 

The Relative Strength Index [RSI] points to the graph edging towards the overbought zone. The spike towards the upper zone is a sign of the buying pressure of the cryptocurrency being more than the selling pressure. 

The Chaikin Money Flow [CMF] indicator after crashing towards the bottom of the graph has slowly taken an upward path. The upward movement of the CMF graph tells that the money from the investors is coming into the market after a positive investor sentiment change.

Conclusion: 

Tron’s price increase may result in the price support being lifted from its earlier levels. The Bollinger bands, CMF, AO, and the RSI all point to a gradual rise with sporadic sideways movements interspersed in the Tron market.

CITYUPTAKE – A New Approach To Rewarding TRX Holders

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With the Tron community awash with new projects and tokens, finding those innovative projects with real value can be a challenge.  SesameSeed is setting a great example for how to launch new projects that have real promise for future value with Poppy, Eggies.World, and TronWatch.  Another such project that shows great promise is a venture that seeks to provide the benefits of active trading with the security of “hodling”.

CITYUPTAKE has been quietly building a strong reputation for rewarding its holders with rewards that claim to be multiples more than voting alone. Launched with very little fanfare in July, the project now boasts a voting portfolio of over 6 million TRX, a Telegram channel with over 500 members, and growing number of serious TRX holders.  The top 30 holders have contributed an average of over 200,000 TRX.

Jason Lavender, the Founder, claims to have created an opportunity to enjoy the potential gains from the volatility in the price of Tron by establishing a Trade Desk that CITYUPTAKE owners help build with their purchases of CITYUPTAKE.  This Trade Desk has grown rapidly from 25,000 TRX when the project began, to over 1.4 million to date.  TRX earned through active trading are shared to CITYUPTAKE owners each week.

Every CITYUPTAKE is backed by one TRX creating a pool of over 6 million TRX which are used to vote for SRs that provide the most lucrative rewards to their voters.  These rewards are shared daily with CITYUPTAKE owners.  Holders of CITYUPTAKE enjoy most of the SR rewards they would from voting, but also receive the weekly Trade Desk rewards as well.

Enthusiastic holders of CITYUPTAKE are quick to point out that the value of these rewards are three to four times the value of just voting, creating a stream of residual rewards that could become a very valuable flow of income should the price of Tron appreciate.

When asked about the end goal of the venture, Mr. Lavender shared that his objective is to manage a large fund that provides value for token holders while building an SR portfolio that can essentially play kingmaker and vault any SR candidate into Top-27 status, including CITYUPTAKE’s own “MRLAVMAN”, an SR candidate created in late October.

The CITYUPTAKE community is very excited at the prospect of sharing the rewards of an actively traded account that is funded by block rewards paid to a Super Representative.  A Trade Desk of a few million could quickly grow to much more.

The potential is real, but the road to top-27 is long.  Still, it might be worth your time to investigate CITYUPTAKE for yourselves.

Tron Price Analysis

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At the time of writing, Tron [TRX] is growing by 3% and is trading for $0.023. The total market cap TRX is $1.54 billion, with a 24-hour market volume of $87 million. A majority of TRX’s trade volume is held by BitForex, with transactions totaling $21.074 million worth of TRX. BitForex is closely followed by Rfinex, covering $13.136 million of all the TRX trade.

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The Bollinger bands look to be converging which indicate that we are still in a bear market. The Bollinger clouds on the other hand have expanded greatly, which may indicate a future entry in the bull market.

trx 1 day

The Relative Strength Index has been stable, close to the middle, which indicates an equilibrium between the buying/selling pressure. TRX, during its spike on November 3rd had started to climb towards the overbought zone after which the change in the investor sentiments bought it back down to the middle of the graph.

TRX price increase can also be explained by recently when Justin Sun’s announced that TRX will be listed on Bestex, United Kingdom based global digital asset spot trading service provider. Sun tweeted:

“#TRON will be listed on Bestex (http://www.bestex.io ), a global digital asset spot trading service provider founded in December 2017 and based in the UK. TRX/USDT will be available on November 16, 12:30pm (SGT). $TRX #TRX.”

 

Tron [TRX] Daily Transaction Number Breaches The 1 Million Mark

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Tron [TRX] seems to be on quite an upsurge with latest reports confirming that the cryptocurrency has broken its transactions record, breaching the 1 million mark on November 4th. Tron’s transaction number peaked at 1,018,795 beating its previous record of 996,041 set on November 3.

TRX, which has been on a developmental run, has been making the news consistently for breaking the daily transaction records consistently over the past few weeks.

The reports also showed that on November 3rd, the combined transactions number of Bitcoin [BTC], Ethereum [ETH] and XRP amounted to 1,019,583 which was a mere 23,542 transactions more than Tron’s individual amount.

Tron also appeared in the news earlier, when the Tron Foundation announced that a bug bounty program will be launched on Hackerone. Tron set the reward of $10,000 for discovering potential technical vulnerabilities on the Tron network.

Critical bugs found on the network include bugs that can take control of nodes on the network by the remote execution of any code on the network. Another bug in this category are bugs that can lead to the leakage of users’ private keys. These have a bounty of $10,000, which are set to be paid out 14 business days post the submission of the report.

 

Justin Sun Talks About Project Atlas, BitTorrent and Future Prospects

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In a recent interview, Justin Sun, the Founder and CEO of Tron foundation spoke about the future prospects of the Tron Foundation, he recently acquired BitTorrent and the upcoming Project Atlas.

Speaking to Coincentral, Justin was candid in stating that the cryptocurrency world is evolving as a whole, and he is excited to be a part of it. He stated:

“For me, perfecting current technology and our community is the foundation of a project. No matter how the price changes, we are not going to stop improving user experience and TRON ecosystem.”

Justin Sun also stated that Tron has reached this far without any significant mistakes or failures, unlike some other networks. He revealed that the Foundation was investing a lot in the Research and Development initiatives of the cryptocurrency spectrum with the main aim of propagating mainstream adoption.

The discussion with Justin also covered the company’s unorthodox approach of focusing on the marketing aspect of the company rather than a smart contract approach. In Sun’s words:

“To be valuable, a network needs great technology, use cases, and users. By partnering with established companies such as LINE, Binance etc. our company gets more use cases for its holders, co-develops new technologies, and reach more people.”

According to Justin Sun, the BitTorrent acquisition is a step to bring in more blockchain based incentives to the masses:

“Since its creation, the BitTorrent protocol had a system of incentives built into its core processes. BitTorrent users can choose to upload data to users that upload faster to them. Prior to the acquisition in July 2018, BitTorrent’s R&D team was already researching ways to add blockchain-based incentives to the BitTorrent protocol.”

Project Atlas was also hailed as a way to empower creators and to make sure that credit is given where it is due. The company has also assembled a dedicated work force which develops Project Atlas.

 

 

TRX Gets Listed On CoinSuper

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Liquidity is an extremely important quality for any asset, be it regular or digital. A liquid asset is cash on hand or an asset that can be readily converted to cash. Being listed on more exchanges increases the liquidity of a digital asset. Tron did exactly that in the last year by listing TRX on a total of 66 exchanges, out of which the largest volume is held by Binance, Rfinex and OKEx. The latest exchange on which TRX will be listed was announced today.

Justin announced that TRX will be listed on Coinsuper, a Hong Kong-based “FIAT-to-Crypto” Exchange founded in 2017. Users will be able to deposit and withdraw TRX on the exchange starting with November 1’st, and exchange TRX/BTC and TRX/ETH starting with November 2’nd.

Coinsuper is committed to crafting a world-class cryptocurrency exchange to drive better participation into the financial world of digital assets. With its reliable, stable and high liquidity, as well as a deep bench of industry specialists, the platform has gained a solid foothold in the ranking of 24 hour trading volume among top 30 on CoinMarketCap.com  with over 1 million active users since its launch in February 2017. At the moment, Coinsuper is on the 27’th place in terms of 24 hour volume. Coinsuper has a total volume of $137.4 million in the last 24 hours. The largest volume on the exchange comes from ETH/USD, BCH/USD, BTC/USD and BCH/BTC.

The effects of these TRX listings on exchanges are not seen right now due to the current bear market. As a result, the TRX volume and price remains unaffected. Think of it as a seed, planted in the ground just before winter comes. The seed will remain covered, waiting for the right moment. When spring comes and the snow melts away, the seed will start to grow and be harvested once it reaches maturity. The same thing will happen to TRX in the bull market, yet to come.

UPCOMING Tron Events

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Warren Buffet has a saying: Risk comes from not knowing what you are doing. If you want to be a good investor and minimize risk, it’s your job to gain as much knowledge as you can. Gaining knowledge about the market will often allow you to identify certain opportunities. These opportunities, if acted upon at the right time, have the potential to increase the value of your portfolio significantly.

We decided to highlight some valuable information through this article. Although this information is publicly available, we realize not all people have the necessary time to gather or keep track of it. The following represent in our opinion, the main upcoming events on the Tron Network within the next three months:

November 2018:

  • IGG 1:1 Airdrop – IGG has an upcoming 1 to 1 airdrop in November. This means that you will receive 1 IGG for every 1 IGG you hold. There will be a minimum IGG requirement for eligibility to this airdrop, which will be disclosed when appropriate.

IGG

  • TWX Partner Airdrop Celebration – A total of 6M Tokens will be rewarded in this airdrop. The requirements are a minimum of 50K TWX / 150K TWX / 200K TWX for each of the three airdrop phases.

tronwatch

  • TRONbet distribution of ANTE and dividends – On Nov 1st TRONbet will take a snapshot of everyone’s ANTE. Over the next 24 hours all ANTE will be automatically transferred to the corresponding wallets that hold ANTE. After that, the dividends will be paid accordingly.

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December 2018:

  • TronWallet P2P Exchange Beta/Pay – According to the TronWallet roadmap, a functioning version of the exchange will be launced in December. The P2P Exchange will boost the entire Tron ecosystem.
  • EGGIES beta launch – Eggies has prospects to launch a stable playable version of the game by the end of the year. Join them in the Telegram channel for the latest updates, pics and information.

eggies 1

January 2019:

  • Numex Exchange launch – 26 Tokens were voted to be listed on the Numex Exchange once it launches in January. Some of the tokens are from the Tron Network. Make sure to check if any of the tokens you hold will be listed on Numex.

  • niTRON Summit – This event will feature inspiring content from industry thought leaders and key community members. Unlock the vibrant world of the TRON ecosystem and all that is possible with blockchain through the power of TRON! Join the TRON community to fuel your mind and passion.