• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / Archives for Market

Market

Tron continues its rodeo as market excitedly calls for new updates

February 12, 2021 by Akash Anand

Over the past couple of days, the cryptocurrency market has seen a divisive shift in the sentiments with a lot of users jumping on the digital asset bandwagon. It is not just Bitcoin that was on a bull tear as altcoins such as Ethereum, XRP and Tron also enjoyed their time in the sun. 

Justin Sun’s Tron, having been in the shadows for some time, has begun to wave in the digital asset industry. The price of Tron was not the only factor that emerged, as a number of personalities also started their buzz around the popular cryptocurrency.

The new year began with a number of positive updates from across the industry, with major players doubling down the wave. Justin Sun had also recently talked to Bloomberg about the age of memecoins and how it could act as a stepping stone to further developments.Tron also changed their energy and bandwidth spectrum from 40SUN to 140SUN. This came after the Tron Foundation approved the No.51 request to vote for the blockchain.

At press time, Tron traded for $0.056 after a 62.93 per cent increase in value over the previous week. The 20th-ranked cryptocurrency held a market cap of $3.9 billion and a 24-hour trading volume of $4.47 billion. Cryptocurrency fans expect BSV to overtake in terms of a market cap of $4.13 billion.

The hype around Tron has reached such a crescendo that even mainstream stars like Lindsey Lohan have begun to talk about it. On February 11, Lindsey Lohan tweeted about Tron and its features, betting on a bright future. The Hollywood star said the following:

“Exploring #DeFi and already liking $JST, $SUN on $TRX. Super fast and 0 fee. Good job @justinsuntron”

Tron has positioned itself as a competitor of Ethereum with the sole aim of improving the trading ecosystem. The first major resistance level of Tron broke at $0.052 at an intraday low of $0.04112. Right now, analysts expect Tron to test the resistance at $0.055 before any price drawdown occurs. Only time will tell if the price swing is still going the bull’s way.

Filed Under: Altcoin News Tagged With: Market, price, tron, TRX

European Nations Proposing Plans for Libra Competitor

January 5, 2020 by Richard M Adrian

The German Central Bank called out on banks across Europe to come up with a cheaper competitor for Facebook’s Libra Coin. 

Jens Weidmann who serves as an official of the European Central Bank and the President of the German Central Bank announced the suggestion earlier today. The financial expert who seems against the idea of digital Euro believes that European nations have the ability to create a faster and cheaper Libra alternative.

Despite having a hard time the previous year, Mark Zuckerberg and Facebook are putting up work to win regulatory approval. Following the announcement of China’s digital stablecoin posing as succinct competitors to Libra coin, other nations are head-on heels to launch their own CBDC.

Libra’s many wars seem to be as a result of the power it might hold. Most people believe allowing Facebook’s inclusion into financial data; in addition to the personal data it currently poses -; gives it better traction to outshine the United States Dollar. 

Cheap, Fast & Transparent Libra Alternative

Several nations, as well as technologists, have been scrutinizing the pieces of the puzzle. For instance how the social media giant has been working around the clock to win regulatory frameworks. Hence, these nations are also working tirelessly to find a better option for Libra. Meanwhile, Jens Weidmann called out on other banks in the region to develop a better alternative for Libra, that will be cheaper, faster and transparent. 

Weidmann stated that smaller banks are in a better position to provide such a solution to customer requests. In fact, he noted that he didn’t believe in creating an immediate solution’; but a corresponding offer to carter for customer requests. 

Dr Jens Weidmann
Credit: Wikipedia

Mark Zuckerberg lastly noted that Libra would serve the world as a standalone entity from Facebook. Furthermore, since Facebook seems to be the key reason that Libra is still lagging with compliance -; Separating both entities seemed the best way forward for Libra. Meanwhile, Ripple Chief Executive Officer Brad Garlinghouse said that the project will only launch until 2023.

Lack of Concrete Plan to Launch Libra in 2020

For instance blockchain analyst Bello Perez believes that Libra lacks a concrete plan to see it launch in 2020. A board member Patrick Ellis had previously told Reuters that the Libra Association didn’t have plans to determine its launch this year. 

“At this stage, there is no strategy set in stone for the markets or the product, or how it will actually get rolled out,” 

However, After reaching out to Ellis on whether Libra would actually launch in 2020, he simply said “Yes.”

Initially, the social media giant sent the world into a frenzy when it drafted plans to launch a digital coin. Facebook announced that it had garnered support from at least 28 companies such as PayPal, Mastercard and Visa. 

However, it wasn’t long before global regulators began showing concern and issuing warning. A situation that scared several Libra backers including Paypal and Mastercard. Libra’s story turned gaga spiralling into a congress questioning of Facebook President Mark Zuckerberg. 

The barrel of regulatory scrutiny is believed to have been among the reasons for several members of the Libra Association exiting. For instance, the European Union antitrust began probing Facebook Inc back in August. 

Moreover, the European Commission began to investigate Libra’s potential anti-competitive mannerism, amid rising concern that the payment system had the capability to cut off rivals. 

Swiss Concerns With Libra

Recently, shortly before the end of 2019. Switzerland President noted that Libra had failed and required reworking to win approval. For instance, he raised concern about the type of currencies underpinning the stablecoin. He said:

“I don’t think (Libra has a chance in its current form), because central banks will not accept the basket of currencies underpinning it,” 

Filed Under: News, Altcoin News Tagged With: European Central Bank, Facebook, Libra, Market, news

Primary Sidebar

Recent Posts

  • Kentucky To Elevate Crypto Activity By Offering Tax Breaks March 5, 2021
  • Polkadot [DOT] Could Encounter Bears While Heading Towards $40 March 5, 2021
  • A simple and practical Guide to copy trading on Bityard March 4, 2021
  • The Inevitable Rise of the Staking Platforms March 4, 2021
  • Brad Garlinghouse Urges Court To Terminate SEC Lawsuit Against Him March 4, 2021


Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2021 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.