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Green Flag, Red Flag: Tips to Evaluate a TRON ICO

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The simple saying ‘Better safe than sorry’ takes a lot of precedences these days when it comes to choosing an ICO to invest within the TRON ecosystem. We have witnessed an astronomical growth regarding transactions being handled by the TRON network, a lot of credit for that goes to the SRs and the projects running on TRON protocol.

In a short span of time, we have seen close to 1600+ tokens being launched using the TRC10 protocol which is also helping a lot in terms of enhancing the usage. Most of these tokens trade only using TRX pair, ICO purchase is also through TRX only.

All these are helping TRON eventually hold its ground in this bear market and also promises for a prosperous future as a lot of these projects gets into mainstream usage. TRON (TRX) has made the token creation process super simple and almost free with the cost of token creation being just 1024 TRX. This is helping a lot of projects which had an idea but lacked access to funds and resources to launch their projects.

Having said this, there is a flip side to it; low entry barriers are also allowing a lot of ‘scamsters’ get into the system. They are creating tokens with the intent to exit scam at some point of time and escape with the investor’s fund.

Lack of regulation in this domain makes it all the more difficult for you to recover your funds once lost. The objective of this article is to assist you with 10 pointers which will help you evaluate a project and make an informed decision. Our humble request to all of you reading this article is not to gamble/speculate when it comes to ICO investments.

Success takes time; hence legit projects will take time, but the ROI will be phenomenal. Becoming millionaire overnight is a myth, it takes a lot of patience, perseverance, and knowledge to sail through this roller-coaster ride and achieve your financial goals. So be smart and choose wisely.

In this article we use a simple strategy to evaluate a project – Green Flag means the project is good to invest, the Red flag means we need to avoid investing in it. So here are our 10 pointers to conduct an essential evaluation of a project:

Product

This is the heart of any business. GREEN flag goes to the project which has a working or planned product, a clear use-case, has plans to launch BETA versions. Also, you need to evaluate if using blockchain actually makes it viable and useful.

RED flag a project which has vague or undefined use-case or is too simple that every kid off the blocks is doing it. Simple tipping/meme tokens are classic examples of this where you need to carefully access the usability and how the project differentiates itself from other off the mill projects.

Few note-worthy projects which can be given green flag on this aspect are – IGG, CyberTron, TronWatchMarket, TronWeeklyJournal, SEED, WIN, BeatzCoin, GEMS, Book.

Team

This is again one of the most important aspects to access a project. A team which is not public has a higher probability of pulling off an exit scam. The blockchain is about transparency, and if the unit itself is not transparent, then it’s a big RED flag. So look out if the project has a team, who are the developers, advisors, marketers.

Does the team has public profiles visible on the portal, do they have previous business / ICO / blockchain experience. Is the project happy to post the photographs of the team on the official website? Give it a RED flag if you don’t find these basic information, give a GREEN flag if the results of your finding are satisfactory.

Few projects which score green here are – TRWJ (Tron Weekly now), IGG, KsumNole, SEED.

Token supply and pricing

This is an excellent indicator to access the intent of the project. This differentiates the professionals from the noobs. A big RED flag goes to ICOs which creates ridiculously high supply which runs into thousands of billions/trillions with an absurd ICO price on www.tronscan.org ranging from 0.1 to 50 TRX for each token.

If you do simple mathematics you will realize that we will run out of all the TRX available and still the ICO will not be 100% sold, which means the creator doesn’t even intend to achieve full ICO sale, a clear exit strategy. If you observe this RED flag then immediately drop the idea of investing in that project as high chances you are dealing with a scam or a noob and both are not good for your investments.

GREEN flag goes to projects which if 100% sold at the ICO price covers only a small percentage of TRX supply thus leaving enough space for its value to grow and give good ROI to early investors.

White paper and website

These are the first impression of the project and again are a big differentiator between professionals and new kids of the block. Give a GREEN flag to a project which has a detailed whitepaper and website which clearly explains the project, product, use case, roadmap, key benefits, token distribution allocation, etc.

A RED flag goes to projects which either do not have these ready or it’s just for namesake. A project should have this basic stuff ready before they venture out to garner funds from the public.

Social Media

In the digital space, social media is the strongest tool available to create a huge global customer base. A legit team will strongly invest a lot of time and energy to build up their social media presence.

Give a GREEN flag to the project which is active on most of the social media channels like Twitter, Telegram, Reddit, Medium, Facebook, Instagram, Slack, etc. A RED flag goes to projects which create it for namesake and do not actually use it to build the community or engage proactively.

Communication of the team

The communication by the community managers and teams are a good indicator of accessing the true intent of the top bosses. Check if the community managers are engaging with the community to build relationships with them and spread awareness about the project, developments, future plans or are they just trying to hard sell the ICO.

Also, transparency of the community managers goes a long way in establishing the trust for the project. Give a GREEN flag where the admins are real and transparent, their social media profiles are matching in different platforms (i.e. they are the same person in the telegram, twitter, facebook, linkedin, Instagram, etc.) and they are actively involved in spreading knowledge and awareness.

Give RED flag to the admins whose real identity you cannot access. Real people who believe into an idea/project and are entrusted with the task of promoting it will never be required to hide their identity.

Pre-mine and freeze

A legit ICO will have a clearly defined roadmap for token release and distribution. GREEN flag goes to projects which follow their roadmap and keep the un-utilized tokens frozen as defined.

RED flag for projects which put 100% of supply into circulation and trade on day one itself, high chances they just want to sell whatever they can before they pull the plug.

Market size and potential

Give a GREEN flag to the project which has identified a niche market and are leveraging blockchain to create a global customer base. Typically products which have a global use case, sizeable customers already spending money in that domain( which will shift to blockchain over a period of time) are good green flag indicators.

RED flag for the projects which hardly has any existing or future market because the use case is vague or non-practical.

Community

Communicating with the community can give you a lot of indications about the project. Give GREEN flag to a project where the community is loyal and knowledgeable; they vouch for the product and the team, discussions in the group is constructive and project-centric. A RED flag where the community is not aware of the project as high chances they were just bought or are bots.

Commitment

This parameter kicks in a little later but still helps in safeguarding your money from becoming ZERO. Give a GREEN flag to the team that values responsibilities and delivers on time – be it a product release, partnerships, merchant onboarding, events, commitments to investors, etc. Vice-a-versa for teams which frequently backs out from their own words.

Apart from these also be cautious about the fake/counterfeit tokens which almost look real to the legit tokens except for a small change in the alphabets. It is advisable to buy your tokens from legit exchanges / tronscan link shared by the project officials / from the official telegram channel of the project. You are venturing into risky domain when you enter private sale groups having low control over the fake tokens.

Very few things in the world are perfect, but we need to aspire towards perfection on a daily basis. So after evaluating a project on above parameters if a project scores 8-10 it could be considered safe, any score below five should definitely be skipped for the time being till the team proves it another way around.

Due diligence and a little time investment can go a long way in not only safeguarding your money but also to give you phenomenally high ROI in the long run. It’s just a hunt to avoid garbage and fill your bags with gold.

Hope all of you create massive wealth in years to come. Happy Investing!

Image courtesy of Pixabay.

Trading Tron gets quicker and easier as TRX makes it to SwftCoin

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Just a couple of days ago, Tron’s Tronwallet got upgraded with the addition of Decentralized Exchange (DEX), where 5 new pairs have been announced. The stride to magnify their community’s passion does not just pause there.

In one of his recent tweets, Justin Sun, the creator and the CEO of Tron, announced that, to make the crypto trade safer and faster, they have partnered with the cross-chain wallet app Swftcoin. Users now will be able to trade TRX through Swftcoin at low fees and excellent speed, as it utilizes AI & patent-pending cross-chain transfer algorithm.

What’s SwftCoin all about?

SwftCoin is basically a globalized platform for the transfer of digital currencies. The platform provides one-click transaction service which takes merely up to 1 minute to complete the transaction. SwftCoin’s asset transmit services are available for the crypto community on both mediums; website and mobile application.

The main objective of the platform is to better the potency of crypto-sphere by providing cheap, thoroughly-protected and impenetrable transaction services, which is achieved by incorporating AI algorithms, the blockchain, extensive learning, and big data.

The transition of assets through SwftCoin is quite fast and easy to follow because of the cross-chain technology it uses. Also, its AI algorithms help the crypto-community allocate their virtual estate if they wish to.

Tron: What’s more to come

In its weekly report, the Foundation hinted at few of its future plans. They are going to launch Tron Ecosystem Co-builder Plan to support freelance developers, dApp developers, Tron-backed startups and more by catering a permanent platform for them to communicate and to be in cahoots with the Tron foundation. Though the exact date of the launch has not been revealed, the news surely has brought some excitement to the community.

Not too long ago, another interesting announcement came by the Sun-led Foundation in the form of Tron Accelerator program. The program will be promoting innovative ideas and rewarding the best with $200,000. Along with that, they also have a plan to award over 55 teams. Up until now, more than 7000 views have been cited and beyond 100 teams already have signed up for the Tron Accelerator contest.

TRX market right now

For the last 24 hours, the market as a whole hasn’t salvaged any breath even after a long four weeks bearish trend, with most of the cryptocurrencies still in the red, according to the CoinMarketCap. Tron is trading at $0.01309, with a little decrease of around 2% throughout the day. The coin boasts $867,468,760 as its current capitalization.

Image courtesy of Pixabay.

Transaction fees: Tron vs. Ethereum vs. POA

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The days in which Bitcoin was the world’s only blockchain are long gone. There are hundreds of digital assets right now, and each one is a different blockchain, even if some are not 100% independent than others (for instance, many coins are based on Ethereum’s ETH20 technology, some others on Tron’s TRC20).

So the panorama can be confusing because it takes quite a bit of technical knowledge to understand exactly how each blockchain differs from others (especially when it comes to the consensus protocols). But one question still lingers in every user’s mind: how much will my transactions cost? We’ll endeavor to explain to you exactly that in this article.

Transaction fees: Why do we need them?

A blockchain is comprised of lots of independent nodes working in tandem and reaching consensus according to each network’s protocol. Independence is critical here because it implies that there must be some kind of incentive for those who run and support a node. That incentive usually comes in the form of tokens which come, at least in some proportion, from user transaction fees.

So we need the fees because that’s how we support every blockchain’s infrastructure. And that’s not cheap if you realize that Bitcoin alone is burning more electricity that some countries in Europe.

But that’s not all. Fees are useful also because they prevent users from wasting a network’s resources. For example, it’s not a good idea for hackers to try and do a DoS attack if they have to pay for every single request. So fees keep the network secure and available for significant projects.

So fees are not just an arbitrary thing, They matter a great deal. Now that we’ve (hopefully) persuaded you that fees are important (even good for you), let’s find out in some detail what is the deal offered by three of the most essential blockchain networks.

Ethereum

Ethereum is the first and quintessential second-generation blockchain. That means it created the first smart contract platform using the Proof of Work consensus protocol in which miners run the most important nodes. There are no limitations on the number of miners that can join the network.

They all compete between themselves to solve a mathematical problem (a cryptographic collision in a hash function that will create the next block). The miner who solves it first gets a reward for creating the next block. That needs specialized hardware and lots of power. So miners need to buy hardware and pay for their electricity which is why the rewards must be significant.

In the Ethereum environment, a transaction’s cost equals Gas times the gas price.

Gas: Ethereum needs to know the amount of computer power and storage it must provide to save and complete the transaction. That’s called “Gas.” If your transaction is a simple exchange of tokens, it will be cheap, but if you’re interacting with smart contracts and de dApps, it will be different.

And it could be tricky because the gas amount is computed only after the transaction is done. If you should want to know beforehand how much each of your transactions will cost you will need to ask the dApp provider how much the price has been in the past for similar operations.

Gas price: that’s how much you pay for every unit of gas/computing power, and it depends on your transaction. It’s paid in the native token (ETH in this case). Then miners rank pending transactions by price for blockchain inclusion. Miners get a better deal by processing higher gas prices, so more expensive transactions are completed sooner. The price changes all the time, and if you don’t choose it correctly, your transaction can be left in the Ether (no pun intended) for days.

There’s no doubt that Ethereum is a bonafide decentralized blockchain. But its protocol lacks scalability, and it can be very expensive, or slow, or both, especially when the network is loaded which happens often because of the most trivial reasons, such as betting games.

POA Network

PAO uses Proof of Authority (PoA) as a consensus protocol, hence the name. Unlike Ethereum, the number of miners is limited. Each validator (block producer) builds a block each time. This makes this chain light, efficient, and quick.

Fees are computed in POA using the same formula as Ethereum’s: it’s gas times a fixed price.

Gas: It’s the same definition as with Ethereum.

The difference between POA and Ethereum has nothing to do with the gas definition. The thing is that POA does all the tricks a decentralized blockchain can do while keeping things simpler. The PoA consensus allows for lower gas prices and for a straightforward transaction system. It’s designed to allow horizontal scalability, but not necessarily high loads.

Tron

Yet another consensus protocol for yet another blockchain. In this case, it’s called Delegated Proof of Stake (DPos), and it’s at Tron‘s blockchain’s heart. A limited number of privileged users (known as Super Representatives and elected by the community in a worldwide voting process) are the ones who create the blocks, one at a time. This design has allowed Tron’s blockchain one of the world’s fastest, safest, cheapest, and more reliable.

There are two ingredients needed to calculate Tron’s fees. They’re called Bandwidth and Energy. You take both of them and multiply it times a fixed price.

Bandwidth: this is the piece of the network (so to speak) needed to execute and save your transaction. The price is fixed (almost negligible) for simple financial transactions, but it can vary for dApps and smart contracts. But unlike Ethereum and POA, it can be easily calculated in advance if you just know the size (in bytes) your transactions needs.

Tron’s network allows for a bit of free bandwidth for everybody, roughly equivalent to 15 financial transactions.

Energy: The network needs a certain amount of power to compute and execute your transaction. That’s called “Energy.” If you’re asking for a simple transaction, then the Energy amount you need is zero. But smart contracts and dApps do need a bit of energy (just as Gas in Ethereum), and different transactions cost different amounts.

It’s not as straightforward as with Bandwidth because the SR knows the energy price only after the transaction is completed so, again, you need to have some idea of how previous, similar transactions, cost so you can know how much you’ll need to pay.

Freezing: this is Tron’s extra ingredient. If you freeze some of your Tronix coins, that will get you a bit of free Bandwidth, Energy, and also the ability to vote for SR’s which are often willing to reward voters with free tokens. The more coins you freeze, the more free transactions you get. Freezings also make the token scarcer, so it helps to drive its price up, so it ends up helping users, hodlers (if Tron has any) and SRs.

Tron’s system could seem quite a bit more complicated than the previous two. And it is. But it’s also faster, cheaper, it ensures a number of free transactions for all users.

Even if you overdo things and have to pay for transactions, it’s way cheaper than Ethereum or POA, and it also rewards SRs. Last but not least. These rewards facilitate vertical scalability in the network (unlike POA which is horizontal, or Ethereum, which is basically non-existing).

Image courtesy of Pixabay.

SEED token, Tronwallet DEX, new trading pairs: Tron on a roll

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In order to counter the much-asked questions and expectations, Tron (TRX), the 10th largest digital currency in the crypto-sphere, as anticipated, has decided to enrich Tronwallet by blending DEX (Tronwallet Decentralized Exchange) as one of the new upgrade included in the Tronwallet’s latest version.

In an announcement by the Tronwallet team, the update was made available to be downloaded globally, except some part of the world, where the giant tech guns, Apple and Google are working to ensure the availability of the application to the public.

In addition to this amazing news for the Sesameseed and Tronwallet communities, Tron (TRX) has also confirmed that they are introducing new trading pairs on the exchange (DEX) along with the induction of Seed token, which will also go down in those pairs.

In its release, Tronwallet’s team verified the induction of Seed token’s pair with Tronix (TRX/Seed), in conjunction with the pair of Tronwallet and Tronix (TRX/TRW). The team also gave a little glimpse at its future plans by mentioning that they are planning to make efforts towards introducing Tronwallet as a trading market, where alongside other new pairs, TWX/Seed pair will also be included.

The Tronwallet team, in its official issuance, admitted the fact that the DEX (Tronwallet Exchange) has similarity with Bancor Exchange to some extent concerning functions and style. That said, DEX Exchange brings some unique benefits to the community.

Let’s check out what those advantages are:

  • As Tron’s enthusiasts expected, it is user-friendly and easy to use, Tronwallet DEX will look familiar to Tronwallet as it will be sharing the same interface and style.
  • Crypto community no longer needs to worry about where to keep their savings, or patronage as many people usually surf more time than needed in researching about these little quirks. Tron (TRX) provide them the opportunity to store their assets at which they trust the most, Tronwallet.
  • TronWallet provides the opportunity to do trading without sharing your private key. By doing so, it also accomplishes to solve one of the major concerns of the community; they no longer need to expose their private keys.
  • It also guarantees zero discrepancies and mistakes during the exchange of funds. Tronwallet accommodates its community to trade inside their own wallet. No more copy/paste of website URLs, no more verifications needed for the route direction (whether it is going to the right place) since the exchange is happening right in your wallet.

Talking about some of the other latest achievements that Tron has had in the past couple of weeks, its listing at the renowned exchange MABex (South Asian trading Exchange) is a significant stride.

Also, the migration of the famous Ethereum based game, BitGuild, onto the Tron blockchain is a big success. Just today, the blockchain added three new trading pairs, BET/TRX, FUN/TRX, GOC/TRX, on its decentralized exchange, DEX. Looking at all the recent developments, it’d be safe to say that 10th best cryptocurrency is moving in the right direction.

Image courtesy of Pixabay.

Better Tron DEX, better trading: GOC is online!

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There’s a new cryptocurrency exchange platform specialized in TRC20 tokens (which are based on Tron’s blockchain). It’s called GOC, and it’s already online. It’s the first Tron-based decentralized exchange supporting TRC10 and TRC20 tokens.

The new platform launched on the 3rd of this month. It will allow users to exchange Tronix-based tokens paired against TRX. It also allows users to create their own tokens. This means that when TRC20 initial coin offerings become a thing, as ETH20 ICOs became in the Ethereum network, GOC will probably be the place that will hold them.

Tronscan, which is a website that functions as something of a control panel for Tron accounts, included a decentralized exchange system for the same kind of tokens in the beginning but those tokens have been slowly moving from Tronscan to GOC, so it’s expected that the latter will end up being the “official” Tron-token platform sooner rather than later.

The new website is very friendly but it charges transaction fees (0.2%), and that could open the way for the new Tron-based trading platform to appear in the market in the next few months.  On the other hand, GOC has no limits on the number of tokens you can trade in any given session, which is an advantage and allows for all these new tokens to be traded in higher values.

Some airdrops are on the menu, and they will start happening soon. Stay tuned in our website to find out the correct dates.

GOC is already listed by Cobo Wallet which is a mobile wallet designed to manage cryptocurrencies. It serves both institutional and retail clients. MathWallet is also supporting the DEX. It supports the TronLink plugin wallet just as Tronscan, which is probably the easier wallet to use since it’s just a free chrome extension you can use in any operating system to keep track of your TRX and other TRC20 tokens.

This development is important for Tron in particular and the cryptosphere in general because it’s another direct challenge to one of Ethereum’s strengths. As you probably know, Tron started as a project running on Ethereum’s network, where it stayed for half a year until it developed and launched its new main net.

Ever since it became an independent blockchain, it’s proven to perform way better than Ethereum in terms of speed, and also way cheaper because it doesn’t charge for gas (you do have to pay for energy and bandwidth, but that’s another story, and they’re relatively cheap). This has created the perception that Tron will end up being too attractive to current Ethereum users and developers to ignore, and that many of them will migrate their projects en masse. Justin Sun in person has expressed his interest to welcome the ETH refugees into Tron.

And now, with the new GOC online, that seems only more likely.

It’s an exciting time to watch Tron grow and develop as new things, and project come online every month, the platform keeps expanding and, slowly but surely, new decentralized applications are starting to appear in Tron’s network.

Last but not least, the token’s value is growing when compared to the rest of the market. Tron is already 10th by market capitalization, and it’s been quite solid as the bearish run has protracted for almost a year now. It overtook Cardano and Monero to reach the tenth spot, and its capitalization was as high as 1.01 billion only a few days ago.

Image courtesy of Pixabay.

Beginners’ Guide to Success in Digital Assets Investments

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       HOW TO REDUCE RISK WHILE INVESTING IN DIGITAL ASSETS

A quick checklist for beginners’ Investing in any asset class requires an understanding of certain principles and practices to help meet your goals. Digital assets are a new asset class in it of itself, so on that not, here are my Top 11 principals for Digital Asset Investments.

1. Learn: This is fundamentally the most important principle, as without this everything else fails. Make sure before you venture out into investment domain you are well equipped with at least the basics. Learn basic Technical Analysis (TA), how to read charts and follow patterns. Invest some time to learn the tools/indicators for market prediction like RSI, Bollinger Bands, Moving Averages etc. My personal favorite is Elliot Wave (an age-old principle that’s also a favorite of Warren Buffett).Also ensure you DYOR of the project you plan to invest in (Study about – Product Use-case, the team behind the project, the market size, competition available, the strength of the sub-teams i.e  Product development, Marketing, Legal, Advisory, Customer support etc)

2. Set Goals: A lot of people fail in investments as they do not set goals, hence don’t know when to exit.
Set 3 kinds Goals:
A. Short Term – To meet your day to day expenses.
B. Mid Term – To achieve lifestyle goals like Car, Vacation, Luxury products etc.
C. LongTerm – Financial freedom (creating cash flow which can suffice the needs for rest of your life),and enough wealth to purcahse big ticket items such as a dream home or luxury vehicle.

3. Diversify: The basic principle of ‘Never put all your eggs in a single basket’ is essential. Never bank on just 1-2 coins, identify 8-10 good projects and diversify your exposure(thus minimizing your risk of project failure as well).

4. Book Profit: It’s only a gain if you close out the trade. It is Important for short term trades to learn how to ride waves (read Elliot Wave theory. Trading view also provides many charts for the same).

5. Law of Averages: It is important to learn ratios and know that more often than not they work. No strategy will work 100% of the time. For example, if you are using RSI as a tool give it 10-15 trades for the averages to work in your favor. In addition to paying attention to the percentage of times a strategy works, also be attentive to the profit and loss for each trade. If a strategy works 50% of the time, but the wining
50% of trades book $100, and the losing 50% of the trades lose $25, this is a winning strategy. Likewise,there are cases where most trades can be profitable – but the strategy still loses money overall as major losses exceed the dollar value of minor wins.

6. Set StopLoss: Another important step towards risk management is risk mitigation; learning about setting StopLoss triggers can go a long way in that aspect. Take emotion out of trading, and define when you’re willing to exit a trade.

7. Don’t be emotional: After Knowledge this is perhaps the 2nd most important principle to follow. Getting emotional in investing can be disastrous. Avoid FOMO (emotional surge of Fear Of Missing Out), Panic selling. Avoid making the mistake of looking at price charts every hour when you know you are far away from your set goal and then selling at loss in a bear market. Patience is a virtue which is required
especially in a bear market. Remember, you are at a loss only if you sell your assets at a loss, learn to HODL (Hold on to your Dear Life), unless your thesis on a coin changes.

8. Create Residual Income: Digital Assets provides ample opportunities to create Residual income where your money creates a passive cash flow for you. Plan and gradually increase your investment to such a level that the residual income output you get meets your goals. To start with you can park a portion of
your portfolio to POS coins or allocate for rewards (like Freezing TRX for Super Representative rewards).Then you can upgrade to set up a few MasterNodes. Finally, if you gain expertise setup your own mining rigs. Let the power of compounding work on it!

9. Don’t Speculate/Be Greedy: Understand that you are investing here, not gambling ..for gambling you have Casinos 😉 . Thinking of becoming overnight millionaire is the quickest path to failure as you set wrong expectations from yourself and with the market. As the Saying goes ‘Rome was not built in a Day’ the same holds good for investments in Digital assets as well. Have Patience!!

10. Leverage correctly: Leveraging is a powerful tool if utilized correctly and within safe limits, else it can backfire drastically. Leverage Bank’s Money/Trades only to the limit for which you have cash to cover in case of the trade going wrong. Advisable not to use it if you are very new to the market.

11. Trust chart and not your feelings: The digital asset market currently has many manipulators who try to play with your feeling (through media articles, news, pumps&dumps etc), you win if you have a strong hand and rather than going by other’s random advise you believe and follow the charts. Rather try and find a GURU/Coach who can act as your guiding light.
You are in Digital Assets market which is just about 10 years old; hence we all are the early adaptors.Play it by the book, play it safe and smart! There are rich dividends to be reaped in years to come. Happy
trading and investing.

Regards,
Debasish Das.
Telegram – @deba215
Twitter – @deba215
Email – debasish.das215@gmail.com

Crypto market game changers for 2019 Q1

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As you surely know already the current year has been a carnage for the cryptocurrency markets. Since last December’s mania phase, things have been going steadily down, and mid-November was even worse.

But if you know that, you also know that these fluctuations have happened before in crypto and, every time, the market comes back with a vengeance. It’s only a matter of time before a new bullish run hits the market and prices soar. When will that happen? We don’t really know, but it could be on next year’s Q1, and it could happen because of the developments we’ll detail for you in this article.

Nasdaq, Fidelity, and ErisX

Most of the cryptocurrency market is supported by retail investors simply because institutional investors (like Wall Street) have been distrustful of Bitcoin and the cryptosphere from the very beginning, so they’ve kept themselves away.

But the next bullish run could be supported by money injected by institutional players, and here’s one example. Nasdaq and Fidelity, who are giant financial players in the traditional financial markets are working together to launch and support a new crypto exchange (which would be designed precisely to be Wall-Street friendly) called ErisX.

“With increasing financial support from leading-edge firms, ErisX stands to provide the most robust, secure and regulated digital asset offering available to both institutional and individual participants,” according to Thomas Chiapas, the company’s CEO. “Closing this second round of funding enables us to continue building our modern platform and expand our team.”

If Wall Street really starts to take crypto seriously, it will be time to buy.

Bakkt

What is there in common between Microsoft and Starbuck’s beside the fact they’re super rich, dominant in their markets, and based out of Seattle? Well, the answer now is crypto.

Microsoft is joining forces with Starbucks and ICE (the company that owns and operates the New York Stock Exchange and many others in the world) to create Bakkt, which will be a digital platform that will provide financial services for end-users based on digital assets and blockchain technology.

This is not just about paying your espresso using Bitcoin (though it is also about that). It’s about institutional money entering abundantly the cryptomarkets thus reflecting confidence, creating demand for tokens, increasing trade volumes and, in general, making life better for retail investors as well.

The partnership is already announced and the new company will go online soon with a credibility that no other blockchain project can match (except for IBM since it partnered up with Stellar Lumens).

And that’s just the beginning

Bakkt and ErisX are just the most spectacular examples of things to come in crypto in the short term. But there’s a lot more in the works. Goldman Sachs and JPMorgan have been considering to enter crypto for months, and they will. They’ll also bring institutional money that will pump things up. Swiss financial institutions are also interested as well as a list of important South Korean investors.

So while there is no doubt that the market remains bullish, things are about to change because the big boys in finance are getting ready to jump in. Pay attention to that news, as they will probably signal the beginning of a new bullish run that will outperform all others.

Image courtesy of Pixabay.

Tron (TRX) receives Binance Info gold label; Sun comments on the bear market

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The recent bear market has been nothing short of a massacre for the cryptocurrency market with several coins seeing multiple support breaks and deteriorating market cap. Tron, which has also suffered under the bear’s wrath has continued its progress towards mainstream adoption, which has been supported by officials of the Tron Foundation as well as Justin Sun, the Founder and Chief Executive Officer of the Tron Foundation.

In a recent tweet, Mr. Sun informed users that Tron had added another feather to its already burgeoning cap. The CEO announced that Tron has officially become one of the first round projects to receive Binance’s Gold label tag. In an official blog post, Binance had stated:

“Today, Binance Info is launching the Gold Label Project! TRON has officially joined this and has become one of the first round invitations that got verification from Binance Info. Now users or TRX holders can learn more about TRON’s team members, real-time trading, distribution of tokens, TRON news, etc. on Binance Info.”

According to the update, the first 100 cryptocurrency projects that will be a part of the initiative will be tasked to provide the most accurate, transparent and trustworthy project information for investors. Binance Info has also gone ahead and stated that as more users join the initiative, the movement for maintaining the accuracy of projects on the network only increases.

Sun was also in the news recently, when he suggested that users on the Ethereum network should move to the Tron network. He had tweeted:

“In bear market, #Ethereum developers should migrate your token to #TRON immediately. 1. 0 transaction fee, no gas in #TRX. 2. Compatible to #ETH, 0 migration cost. 3. 2000 TPS. 4. #TRON dex listing. You can easily increase your token value 100% with High liquidity. $TRX”

The market crash was also brought into notice by the chief Tron official, confidently stating that Tron will overcome all obstacles. In his words:

“In today’s blood bath, we must remember that nothing has ever changed. #blockchain #bitcoin #DAPP is the future and #TRON will decentralize the Internet. Check out #TRON 6 month data, we haven’t seen such amazing increase before. Plz check after 2 years! #TRX $TRX”

Image courtesy of Pixabay.

Tron (TRX) partners with Huobi Wallet; bounty program announced

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Tron [TRX] has been in the news multiple times lately with the announcement of several developmental updates and partnerships. The excitement on the network comes in the wake of an intense bear market which has seen many cryptocurrencies fall to yearly low prices.

Recently, Justin Sun, the Founder and Chief Executive Officer [CEO] of the Tron Foundation, gave Tronics another reason to celebrate when it was announced that Huobi Wallet will now officially support the TRX token.

Users and holders of the cryptocurrency were also told that a bug bounty program would follow the partnership. The news has certainly reached a lot of ears, which was evidenced when Changelly, another cryptocurrency exchange stated on Twitter:

“Congrats to @HuobiWallet and @Tronfoundation! We are proud to work with you both through these uncertain times together”

Huobi was also in the news recently when it was announced that the digital asset provider was going to expand into Indonesia. Li Huo, the Vice President of Huobi Global, had said:

“Huobi Cloud’s entry to the Indonesian market will be able to help drive change in the traditional financial marketplace by providing a channel for small to mid-size enterprises to integrate into the broader financial marketplace. New legislation will come into play that brings cryptocurrencies and the blockchain into the regulatory field.”

The Huobi Wallet also announced that users can now store TRX on it to share up to 400,000 TRX bonus. The cryptocurrency exchange has also said that the snapshot will be taken on November 25th and the bonus will be based on the size of the user’s TRX asset.

Alongside the rest of the crypto market, Tron has also been in a ‘tight’ bear hug lately, but that hasn’t stopped Sun and his team to keep striving forward. The developments of the blockchain project are a hint that it is a genuinely serious crypto project that means business. You should not worry about current TRX price and instead focus on its long-term potential and real-life usability, the price will follow sooner or later eventually.

Image courtesy of Pixabay.

TRX Listed On BitBay And Other Cryptocurrency Exchanges

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TRX’s march to become the strongest cryptocurrency on the market seems to be going well. TRX was recently listed on BitBay, a popular cryptocurrency exchange which has coins like Bitcoin [BTC], Litecoin [LC] and Ethereum [ETH] on its platform.

TRX’s listing brings mutual benefits for both parties. BitBay profits from the customer demand of TRX while Tron increases its digital asset’s liquidity. BitBay is a Poland based cryptocurrency exchange and is hugely popular in Europe, ranked on the third place in terms of volume. The cryptocurrency exchange also has over a million users worldwide with a lion’s share of 70% of the total cryptocurrency market in Poland.

Justin Sun, the Founder and CEO of Tron tweeted:

“Tron will be listed on @BitBay, Tronics can deposit, withdraw and trade with TRX/BTC, TRX/EUR, TRX/USD.”

BitBay is not the only exchange that wants a bit of the Tron pie. The world’s largest cryptocurrency exchange by volume, Binance, is also announcing its listing of the TRX/BNB trading pair on its platform. Binance Coin [BNB] was launched to create trading incentives and further monetize the exchange’s services. BNB allows the traders to get a considerable  discount on trading fees when using BNB.

Another cryptocurrecy exchange that jumped on the Tron bandwagon was Satowallet, which already has over 60 cryptocurrrencies in its fold. SatoWallet’s claim to fame lies in the fact they aim to provide offline transactions for all users, old and new.