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Tron [TRX/USD] Technical Analysis: Sun-Led Crypto Fails to Climb Back Up the Price Ladder

By | Edited By Ali Qamar,,

Tron [TRX] has been one of the major cryptocurrencies that have not seen a significant surge over the past few days with several among the top ten cryptocurrencies seeing red in the market right now.

Tron’s Founder and Chief Executive Officer, Justin Sun, has been at the forefront of the company’s developmental announcements that have come in the wake of the prices moving in a sideways manner.

1 hour:

Tron’s one-hour graph shows the prices dropping from a peak that it had achieved a few days back. The visible uptrend that led to the formation of the peak saw the prices rising from $0.0232 to $0.0247.

The downtrend that followed brought the prices down from $0.0248 to $0.0229. The cryptocurrency’s support has been holding at $0.0223 while the immediate resistance is at $0.0248.

The Bollinger bands are at the start of a divergence which points to an immediate breakout. The Bollinger clouds have also been sporadic due to the lack of significant price movements.

The Chaikin Money Flow [CMF] has bounced off the axis which is a bullish sign. Tron bounceback also indicates that money has started flowing back into the market after the graph had crashed the bottom recently.

One day:

Tron’s run over the past few months has seen the cryptocurrency’s prices falling from its peak in the summer (in fact, that’s been the case of all cryptocurrencies). The cryptocurrency’s downtrend resulted in the prices falling from $0.0390 to $0.0247. Tron’s support has been holding at $0.018.

The Parabolic SAR has been predominantly bearish with most of the markers staying above the price candles. The month of November has not been kind to the cryptocurrency with the price drops overtaking price hikes.

The Relative Strength Index [RSI] is tending towards the oversold zone. It shows that currently, the selling pressure is more than the buying pressure. The drop also coincides with the number of buy-ins reducing.

Conclusion:

Tron’s sustained price movement looks likely to continue with the market still not being ready for a price hike trend change. The RSI, Parabolic SAR and the Bollinger bands all indicate that the prices will continue to move sideways, interspersed with price drops.

Image courtesy of PixaBay

Bitcoin Part 3: The Future for Taxes & Profit

By | Edited By admin,,

The Romans in their Decadence by Thomas Couture 1847. Displayed a year before the French Revolution

Most people don’t want freedom, they just want comfort, and that’s ok.

They don’t have time for it. They are just trying to do the best they can in this world with the circumstances they were given, and have a few more good times than bad.

Nothing wrong with that for the 3.75 billion people on the planet who make less than US$10,000 a year.

That is over half the world who are just trying to reach the third tier of Maslow’s hierarchy of needs pyramid where they have shelter, food, and their family is safe from violence.

As they grind through each day on this globally connected planet, they keep glancing at their phones, seeing how the other half is living in the fantasy world portrayed on social (not really social, healthy, or reality) media.

Over half the world wants to get to the other side where a day is measured in hashtags instead of how many meals they missed or how many family members they buried.

They likely never will.

But if the price for a shot at living the life they see on their phones is their freedom, they’ll pay it.

It is not fair, but then neither is life. Life is just real and uncaring.

Only 527 million people, 7% of the world, will reach the vaunted height of Maslow’s fourth tier, where people think their feelings are important.

They start to realize the truth behind Nobel Prize Laureate Angus Deaton’s research; people aren’t proportionally happier making more than US$75,000 a year.

Point being, it is understandable the vast majority of people in the world just want to be comfortable.

It is important to overlay this basic human need for comfort on the current worldwide dynamics at play: record levels of sovereign debt, shifting geopolitical powers, and changing generational consumer dynamics.

In the midst of this global maelstrom, the birth of arguably the most powerful technology to ever exist on the planet — blockchain — is currently being born.

Capable of giving governments an eternal, unalterable, and always accessible record of everyone and everything.

Meanwhile, most people are not concerned at all with the breathtaking technological change happening just below the surface of their iPhone as they seek comfort in the dull glow of the screen and click another heart next to someone else’s made up life on Instagram.

The world is hurtling towards absolute financial asset transparency to all governments, and has been on this trajectory for some time.

In the future, governments will have blockchain technology, and most people won’t understand the world has unalterably changed while they weren’t paying attention.

To be clear, this article isn’t about how to change this global trend.

Personally, I don’t even think it is possible.

But since the world is providing the opportunity, I’ll profit from it.

The Present World

It started with the OECD

OECD stands for the Organisation for Economic Co-operation and Development. It was established in 1948, and consists of 36 member states today, but their influence financially is felt worldwide.

Together, the OECD countries make up $49.26 trillion of the $80 trillion annual world income, or 61.57%.

The OECD developed the CRS (Common Reporting Standard) in 2014.

The CRS is an automatic exchange of information on bank accounts at a global level between tax jurisdictions.

What started with the OECD, has now spread so that 126 countries have signed onto CRS.

126 countries now agree to share all private bank account information with other foreign tax jurisdictions directly between governments so they can all make sure they are getting maximum tax revenues owed.

2018 was the first year CRS went live. Governments are now mapping all assets in their jurisdictions and sharing with other governments directly.

Banks comply with the governments, or are shut out of operating in those jurisdictions.

Welcome to the future of absolute financial transparency.

Transparency for Taxation

If you have a moment, the 2018 Frank Knight Wealth Report is well worth a read.

Great interview with historian Niall Ferguson, as well as the graphic above, showing US$200 billion in capital outflow from jurisdictions where CRS went active this year to jurisdictions which are not yet participating (namely US and Taiwan).

This capital flight is temporary. Eventually all assets will be mapped, whether governments move to blockchain first or not.

For Americans, we already have to comply with FACTA (Fair and Accurate Credit Transactions Act) and report all worldwide assets. Eventually, blockchain and cryptocurrencies will fall under this requirement.

Each year, more countries will comply with CRS until most of the capital assets in the world are fully mapped by location.

Blockchain doesn’t change the direction the world is already going, it just speeds up how fast we get to total transparency for taxation.

Combined with this transparency will be the unavoidable problems the world will face in the future.

The IMF is warning of record debt levels by the advanced economies of the world, surpassing even 2009 after the global financial crisis.

The Congressional Budget Office (CBO) is warning that in five years, by 2023, the United States will be at 117% debt to GDP with the trillions in deficits we continue to run.

2023 also happens to be the year which those born after World War II will reach maximum numbers leaving the work force for retirement and start drawing down equity retirement accounts for income.

Real Vision just did a phenomenal presentation on this problem. I’ve watched it three times. Absolutely outstanding.

In the face of these numbers, household debt continues to rise in 80 countries tracked by the IMF.

The chart below shows US treasury bond yield rates and how they invert ahead of recessions along with the timeline and actions I think are possible as bitcoin matures as an asset class.

The timing is who knows but the trajectory is likely. What really sets the timing in motion will be when the 2 YR yield inverts to the 30 YR yield.

The Unavoidable Transparent Future

This future is inescapable. Transparency for taxation will happen.

There is no more privacy left in assets except for cash and physical gold/silver, but those each having their own benefits and problems.

By trying to remain private in a transparent world, even legal, lawfully obtained funds, a person stands to lose everything.

Fighting the system will only result in unwanted attention from bureaucrats and potentially federal agents looking to seize assets which without transparency, aren’t provable on how they were obtained.

Some will say that in a transparent world, specifically with blockchain, that privacy cryptocurrencies will flourish as people seek freedom.

Maybe for specific limited circumstances, but that isn’t my focus or interest.

My only concern is exiting positions when the timing is right and continuing wealth accumulation without any hassle or red flags as I shift to the next market cycle and asset class.

At some point all US domestic exchanges will be required to issue a 1099-B, Schedule D, and Form 8949 documenting all trades.

For overseas accounts, most likely Americans will be be required to file FACTA forms and declare trades and holdings on foreign crypto exchanges, just like current foreign bank/investment accounts are treated.

When that happens, likely most exchanges outside the US will just say no US customers as FACTA compliance isn’t a lightly taken task by an institution.

Honestly, I secretly hope the verdict is to go back to 2017, where crypto to crypto is not taxable, only the exit to USD. Would make it considerably easier for all involved — individuals, institutions, and the government would still get their tax revenue on the back end.

Will be interesting to see if institutions lobby the government to that effect once they are fully in the space.

Before institutions can truly enter the asset class in force, the SEC has to declare that the Wild West has been civilized, and is now a place of lawful commerce.

The SEC is starting this process, bringing the full weight of government enforcement to blockchain and the cryptocurrency world.

The timing of this is not an accident with Bakkt scheduled to start trading in a month.

Likely Bakkt will self-certify in a couple weeks, CFTC will clear them for trading, and that’s it, just stand still for the camera flash as the last spike is hammered in the transcontinental railroad and the west is no longer wild.

A railroad and telegraph poles now reach over the horizon, the Yale Endowment Fund can now be assured they aren’t investing alongside human traffickers in crypto, snake oil salesmen aren’t allowed to sell mercury as medicine, and it’s considered impolite to walk around town with your guns uncovered.

For those who want to accumulate wealth with the incredible profit ahead in this asset class, it is a welcome sight seeing the SEC and CFTC standing on the boardwalk with a star pinned to their chest letting the world know the territory is now safe.

For those who instead say this is not the freedom that blockchain or cryptocurrency was supposed to bring, well, sorry.

This is a western, but the Westworld variety, total control and transparency.

How did you think this story was going to end?

I am embracing the transparency early for taxes and profit.

Going fully through the looking glass, to show legal source of funds for buying bitcoin, filing capital gains forms and closing position reports with yearly taxes, so the incredible profits exited with in the near future are unquestionable and easily provable.

I keep screenshots of all my wire transfers from my bank to show the amounts correspond with the funding used to purchase cryptocurrencies in case it is needed when I exit from my positions in the next 5–9 years.

That will give me bank records and 7–11 years of tax returns including 1099-B, Schedule D, and Form 8949 detailing out capital gains, closing position reports, all transparent and proving legal profits.

Some will say this is overkill and unneeded. Maybe, but I measure everything in risk, and the risk associated with not being transparent is far greater.

This isn’t the future I would choose, but the world doesn’t care about what I want, and I don’t need it to teach me that lesson anymore.

None of this is advice, only what I am doing with my own investments.

So I’ll take full transparency, pay the 20% tax on long term gains, and be looking for the next frontier to head to after this one.

Why another frontier? The fun part is the uncertainty.

It lets a person know they are alive when they can still lose. — Radigan

 

Tron [TRX/USD] Technical Analysis: Cryptocurrency struggles to maintain price hold during ‘cryptowinter’

By | Edited By admin,,

The cryptocurrency market has been seeing quite the rollercoaster over the past few days with several coins seeing uptrends and downtrends. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] has been trying hard to maintain its foothold in the market in its march towards mainstream adoption.

1 hour:

In the one-hour graph the initial uptrend is evident which took the Tron price from $0.0232 to $0.027.The succeeding downtrend bought the prices down from $0.0248 to $0.02302. Tron’s support has been holding at $0.0223 while the resistance is $0.0248.

The MACD indicator points to a crossover between the signal line and the MACD line, with the MACD line pointing downwards. The MACD histogram has almost flattened after the market failed to pick up.

The Chaikin Money Flow indicator has just fallen below the axis after hanging above the line for quite some time. This is an indication of the money flowing out of the market due to the change in the investor sentiments.

1 day:

The one-day Tron graph points to an acute downtrend which has brought the prices down from a lofty $0.0571 to $0.0249. The one-day resistance for Tron is holding at $0.018.

The Awesome Oscillator [AO] has witnessed a due die to the lack of market movement in the cryptoverse. The market momentum has been much lesser than what it was over the last few months.

The Relative Strength Index [RSI] shows the graph falling towards the oversold zone after holding in the middle, coinciding with the sideways price movement. The current price fall indicates that the selling pressure is more than the buying pressure.

Conclusion:

The indicators paint the picture of the ‘cryptowinter’ holding strong. The MACD, CMF,AO and the RSI all tell the story of the price moving sideways with sporadic bullish runs,

SR Rewards – TOP 5

By | Edited By admin,,

In a previous article, The Tron Standard, I talked about the benefits of having a democratic process for running a blockchain network. The conclusion was that it’s the most efficient and self sustaining method, through which all parties involved win and contribute to the development of the ecosystem. In this article I will focus on the community’s benefits for voting Super Representatives.

The battle for a SR position is fierce. New SRs are entering the scene every now and then, and causing turmoil. The 27 positions are occupied by the teams and projects most trusted by the community. However, the rewards granted for voting for a SR, play an important role as well. Thanks to the TronGoodies website, it is easy to see the current rewards.

Current ranking:

1. SesameSeed. It’s no secret that voting for Sesameseed right now grants the biggest rewards. A total of 8.89 SEED for every 100K votes, every 4 cycles means a total of 49 TRX at 1:5.5 conversion rate in Telegram trading channels. However, this big reward does not come without any risks. Without a fully functioning DEX, most of the trades are performed in Telegram trading channels where scams have been on the rise lately. Editing Buy/Sale messages is a known issue that is yet to be fixed. Same goes for trading decimal messages by mistake, and selling SEED for .6 or .7. So even if the SesameSeed voting reward is bigger than most SR’s, an additional involvement from the voters is required if they desire to convert their SEED to TRX, and it’s not risk free.

SesameSeed are well known on the Tron Network as being ecosystem builders and DApp funding accelerators. They have a track record of delivering on time, being professional and helping the Tron community.

2. TRONSiliconValley. Voting for TRONSilliconValley with 100K TRX would grant you 25 TRX every 4 cycles, placing TRONSilliconValley on the second place terms of profitability. This SR is currently offering 90% rewards back to its active voters, have a gambling DApp and have launched their token on the network called WIN. The team members wish to remain anonymous.

3. CryptoGirls. Recently CryptoGirls decided to increase their shared rewards to 85%. As a result, they were placed on the third place regarding rewards granted to their voters. Currently, 100K votes for Cryptogirls would grant you 24.83 TRX every 4 cycles. The advantage for voting Cryptogirls is the fact that you get paid automatically in TRX. You can easily check your upcoming reward on their website. CryptoGirls’s future plans focus on developing and sponsoring the development of tools for the community.

CryptoGirls are known for helping several SR candidates run nodes on the Tron Network. They also guided several SRs such as Tronstronics, Tron-Europe, and SR candidates such as CommunityNode, Swisstron and FreeSpaceWIFI to implement and configure the CryptoGirls automatic script to pay voters. They developed personalized versions of their script for token creators such as CityUPTAKE and Tronstronics to distribute TRX tokens instead of TRX to their voters, or to airdrop tokens to the wallets that own that token.

4. Tronstronics. Voting for Tronstronics with 100K TRX would grant you 5.63 TRX every 4 cycles, and additionally, 1000 of their own token called Tarquin. Tarquin is currently sold at about 34 TRX for every 1000 Tarquin. The reason Tronstonics is on the 4’th place in terms of rewards is because Tarquin has a limited number of people interested of trading it. Unlike SEED, it has a reduced liquidity and it doesn’t have a clear use case, but it does have SEED’s trading risks in Telegram channels.

5. TronWalletMe. Voting for TronWallet with 100K TRX would grant you 24.46 TRX every 4 cycles. This SR already has a functioning product, a wallet which you can download from Google Play and Apple Store. The team also has their own token called TWX which will be used on their soon-to-be launched P2P DEX.

These are the best rewarding 5 SR’s at the moment, which are available on the https://www.tokengoodies.com/ website. Keep in mind that these numbers and rewards are constantly changing, so the numbers in this article might be old news in a few days/weeks/months. Do your own research and vote for the SR which you desire. Sometimes the highest paying SR may not necessarily be the the best choice. It all depends on your perception of them, your values and your objectives.

Stellar Lumens [XLM] Overtakes EOS On The Cryptocurrency Charts; Major Market Volatility Detected

By | Edited By admin,,

Stellar Lumens [XLM] made news today, November 12, when it overtook EOS to become the fifth largest cryptocurrency on the charts. XLM has been on a roll in recent days with its 24-hour price change reaching upwards of 5% and correcting itself by hitting lows of 4.5%. It is clear that the volatility in the XLM markets is very high hence the trading volume is at $113.4 million, which is a whopping 99.51% increase in a 7-day time frame.

The market cap of EOS peaked at $5.21 billion in the same time frame as XLM but has since decreased, bringing the market cap to $4.89 billion.

Source: CoinMarketCap

The prices have increased from $0.2429 to $0.2771 while the market cap settled at $5.36 billion. The price of XLM reached a new high within the 7-day range i.e., $0.2835. The announcement of XLM’s air-drop in partnership with Blockchain company has raised a lot of eyebrows as this could be the biggest air-drop in the crypto-space. As per the announcements, the air-drop in total is worth $125 million.

The trading volume of EOS, which is well above the XLM’s trading volume has seen a decrease of $45 million and is now at $671.2 million, which didn’t seem to affect the price too much.

EOS was also in the spotlight a few weeks back due to the research published by Whiteblock which seems to point out a very disturbing finger at EOS claiming that the EOS is nothing more than a cloud service. The research which was commissioned by ConsenSys to Whiteblock further claims that EOS lacks the most basic feature of the blockchain, “immutability”.

The only respite that the EOS community can find is from the new stablecoin that was launched on the EOS platform called CarbonUSD. The bad news seems to find its way back to EOS as there was a fake app on Google Playstore that claimed to be developed EOS RIO, but the group of EOS developers in Brazil [EOS RIO] gave out a statement saying that the official app is yet to be developed.

Tron Price Analysis

By | Edited By admin,,

The cryptocurrency market opened today, November 9, to almost all the cryptocurrencies seeing red. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] all witnessed a price bleed after a few days of price hikes. At the moment of writing, there was a systematic fall across the cryptocurrency spectrum.

1 hour:

https://ambcrypto.com/wp-content/uploads/2018/11/TRX-1-HR-1.jpg

The Tron one-hour graph shows the cryptocurrency form triangle with the uptrend and downtrend acting as the slopes. The price uptrend saw the price rise from $0.0232 to $0.0247while the downtrend saw Tron falling from $0.0248 to $0.023. The immediate resistance was holding at $0.0248 while the support has been maintaining at $0.0215.

The Parabolic SAR points to the price dropping which is evidenced by the markers being above the candles. This trend has been persistent for more than 24-hours.

The Chaikin Money Flow indicator shows the graph right at the axis, which still puts the cryptocurrency in the bullish zone. The fall from the top of the graph also indicates the money going out of the market due to the change in investor sentiments.

1 day:

https://ambcrypto.com/wp-content/uploads/2018/11/trx-1-day-3.jpg

The Tron one day graph shows the coin suffering an acute downtrend which has bought the price down from $0.0571 to $0.0231. The support for the cryptocurrency has been holding at $0.0182.

The Bollinger band shows the dominant sideways movement as indicated by the strict pipe like formation of the upper band and the lower band. Compared to the earlier breakouts, the currency Bollinger clouds have significantly reduced in size.

The Awesome Oscillator has shown a drastic reduction in the market momentum with the graph almost negligible now. The immediate green markers point to a hike in the momentum.

Conclusion:

The above-mentioned indicators majorly point to the current sideways price movement persisting. The Chaikin Money Flow indicators, on the other hand, shows a positive change in the investor sentiments.

Bitcoin.com’s Roger Ver talks about the upcoming Bitcoin Cash [BCH] hard fork

By | Edited By admin,,

The upcoming November 15 hard fork has been considered as a decisive point for Bitcoin Cash [BCH], with several proponents of the cryptocurrency waiting for the event.

In a recent interview with Crypto trader Ran NeuNer, Roger Ver, the Chief Executive Officer of Bitcoin.com, spoke about the hard fork as well as the conflicts within the Bitcoin Cash system. Ver had also stated recently that he does not really know the impact the hard fork will have on the BCH network but believes in a positive turn. He said:

“Even when the big blockers wound up having basically the majority of the hash rate – they had more than 50% at one point – they were still scared to set a flag date… Like, okay here’s the date we’re gonna mine the bigger block. And because they were all scared to actually take action we wound up where we are.”

During the interview, Roger Ver also said that the reason why there is so much conflict within the BCH system is because of how decentralized the cryptocurrency is. According to him, everyone agrees that Bitcoin Cash should be accepted as cash across all platforms.

Ver even brought in nChain’s Craig Wright, saying that he is his own person and his comments are not going to have any effects on the platform Craig Wright was also in the news recently when he was attacked by Bitmain’s Jihan Wu who called Wright a “Blockstream spy”. Wu had said:

“From the very beginning, I have had a conspiracy theory that CSW is a spy controlled by Blockstream.”

The CEO of Bitcoin.com also pointed out that there were two ideologies in the BCH network, one that wants the 128 MB block size to be implemented as soon as possible while the other party wants it to be launched in May 2019. The discussion between NeuNer and Ver also informed users that the two factions were led by Craig Wright and Calvin Ayre, while the other size was spearheaded by Jihan Wu.

Onward And Upward: Tron Partners NeoWorld

By | Edited By admin,,

If you consistently follow the crypto news, you would agree that Tron is doing all it can to make sure that the cryptocurrency emerges as the best coin. It has entered into several partnerships to ensure it sails to the top. The most significant news today is of a collaboration that it has established with a 3D virtual world company, NeoWorld.

In an official announcement by Tron founder and CEO Justin Sun via his Twitter account, he stated that the Tron foundation had entered a strategic partnership with NeoWorld. New Tron partner represents the first of its kind virtual world atmosphere.

What Tron Expects From The Partnership

NeoWorld involves more like playing the popular game Sims whereby the player has the opportunity to explore new frontiers as well as re-imagine their 3D reality. However, the only difference is that NeoWorld allows the users to build connections as they socialize through the NeoWorld virtual ecosystem, which is wholly based on the blockchain.

The cooperation between these two parties will mainly revolve around entering the NeoWorld, planning NeoWorld Exclusive Island as well as strengthening the cooperation within the community ecosystem. There are no further details issued yet on how NeoWorld Exclusive Island will benefit Tron foundation, but we’re well aware of what NeoWorld can offer, right?

For instance, it offers token economy, the creation of avatars to represent users in the virtual world, offers blockchain games, exploring virtual 3D frontiers, allows the player to build wealth successfully as well as create skylines.

Subsequently, all the users can create personal worlds as well as participate in the communication. Users can even organize elections and establish very own world whereby Ethereum-based tokens would help to serve the purpose of payment between trades as well as activities which players initiate by themselves.

Tron is on an onward and upward move on a daily basis, and the news of its partnership with NeoWorld is nothing short than an exciting topping for Tron fans – making it exciting times for Tronics (the TRX community as Justin Sun addresses them) altogether.

Since NeoWorld is the world’s first sandbox game, all looks great for the Sun-led blockchain project. Tron may not be there yet but things are shaping well for them and who knows what we may wake up to about Tron.

Tron [TRX] Price Analysis

By | Edited By admin,,

The past few days have been a roller coaster ride for the cryptocurrency market, with several coins witnessing a significant rise and fall in prices. Cryptocurrencies like Bitcoin Cash [BCH], Ripple[XRP] and Tron [TRX]  have all undergone significant changes in prices with the investor sentiment leaning towards an expected surge during the current time period, a call back to 2017’s ‘crypto-boom’.

1 hour:

Tron [TRX]’s rise and fall are clearly seen on the cryptocurrency charts with the uptrend putting the price in the $0.0225-$0.0246 bracket while the downtrend bought the Tron’s value from $0.0248 to $0.0237. The immediate resistance of the cryptocurrency has been lifted to $0.0248 and the support is holding at $0.0214.

The MACD line and the signal line have both embarked on a journey below the MACD histogram where the signal line has peaked a bit, indicating an imminent price hike.

The Relative Strength Index [RSI] has bounced back from the oversold zone, a sign of the increase in buying pressure of the cryptocurrency.

1 day:

The one-day Tron chart points to the price slowly being lifted out of its sideways movement pattern, all thanks to the significant hikes that occurred over the past few days. The long-term chart still indicates a downtrend, with the prices dropping from $0.0391 to $0.0246. The long-term support has been holding at $0.018.

The Bollinger bands indicate a sideways movement which is put into picture by the upper Bollinger band and the lower Bollinger band taking the shape of a pipe. The size of the Bollinger clouds also shows a lack of substantial breakouts in the Tron prices.

The Chaikin Money Flow [CMF] indicator has been quite active, with the graph breaching the axis. The entry into the upper quadrant of the CMF graph is a bullish sign for the cryptocurrency’s prices.

The Parabolic SAR shows a predominantly bearish trend with a majority of the markers staying above the price candles. This is also a sign of the lack of trend changes in the Tron prices.

Conclusion:

The indicators seem to indicate an imminent price hike as shown by the MACD graph, CMF, and the RSI. The indicators also show that the increase will also enable in raising the immediate resistance of Tron.

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

By | Edited By admin,,

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.

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 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.