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Upbit Urge Caution On Investment In Tron & Waves’ stablecoins

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South Korea’s largest crypto exchange Upbit warns of possible risks to TRON [TRX] and WAVES after the duo’s algorithmic stablecoins projects- USDD and USDN started de-pegging. The TRON’s USDD has headed towards its all-time low at $0.57.

WAVES’ Neutrino USD too followed suit to stand at 95 cents, at press time. In the notice issued, the trading platform stated,

There is a concern that the pegging of USDN and USDD is not going well. As a result, the possibility of price fluctuations of WAVES and TRON [TRX] associated with each of the above stable coins may increase, so please be careful about investing in WAVES and TRON [TRX].

Upbit, further said it will continue to monitor these algorithmic stable coins or related digital assets, and urged members to be aware of increased price volatility if the de-pegging phenomenon escalates in the future.

Following the TerraLuna meltdown, stablecoins have been bearing the brunt and are on the brink of annihilation. Attention has been particularly shifted to Tron’s USDD as it continues to fall, with founder Justin Sun vowing to deploy $2 billion to prop up.

Amidst the current market mayhem, regulators around the world including South Korea have been putting up guardrails.

Upbit Removes Litecoin Over Privacy Function Concerns

A day ago, five South Korean cryptocurrency exchanges including Upbit announced to collectively delist Litecoin citing the crypto asset’s Mimblewimble Extension Blocks [MWEB] upgrade violates the country’s laws.

Three days back, South Korea’s Financial Supervisory Service [FSS] began an investigation into payment gateway services that focuses on digital assets. The FSS is the nation’s financial watchdog that operates under the Financial Services Commission [FSC], both of which are government institutions.

As per a local source, the FSS had recently demanded reports from 157 payment gateways about any service related to crypto, its plans for the future, and the disclosure of digital assets. But, an FSS report stated that only six held any digital assets.

The country’s authorities on May 31, 2022, announced that it is planning to launch a Digital Assets Committee which is deemed as a temporary solution to bring structure to the virtual asset industry following the Terra fiasco.

The proposed committee would bring forth new guidelines including screening criteria for newly-listed assets, market monitoring, trade monitoring, a level of disclosure, and other investor protections.

GemTRX Offers Secure and Revolutionary Cloud Mining Solutions

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With GemTRX, Better TRX World.

Over the previous few years, cryptocurrency mining has grown in popularity and acceptance among new investors. Cloud mining and hardware mining are two approaches that could be taken.

Hardware mining necessitates the use of heavy machinery, permissions, and infrastructure. This entails significant initial outlays as well as recurring costs. As a result, prior to cloud mining, the vast majority of cryptocurrency users were unable to reap the benefits of mining. Notably, cloud mining is a simple way to earn cryptocurrency without having to deal with the technical parts of mining Bitcoins or other cryptocurrencies and earning passive revenue.

GemTRX Cloud Mining Platform

There are numerous cloud mining services, each with their own business model and profit possibilities. GemTRX is a well-known Tron (TRX) cloud mining service provider that uses the TRON network. GemTRX, the only legally decentralized TRX Mining platform, is a well-established company with cutting-edge equipment that maximizes earnings. GemTRX has been providing its services all around the world since 2018. ASIC-miners can be purchased, transported, installed, programmed, and maintained without a customer’s physical presence, allowing customers to invest according to their preferred plan.

TRON (TRX) is a Mainnet token issued by the TRON Foundation that is based on the TRON Protocol. TRX connects the TRON ecosystem, which creates the chain’s transactions and applications through numerous application scenarios. Since its inception, the TRON Foundation’s goals have been the decentralization of the internet and the creation of a better world.

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GemTRX is a ground-breaking cloud mining platform that provides excellent customer service and crypto mining to anyone with no prior understanding of the technology. Furthermore, it enables people to produce a significant amount of passive income without having to go through all of the hard and time-consuming methods discussed above. So, choose the finest plan with the highest earning potential and begin earning.

Individual investors investment options are substantially diverse, with fixed preset returns. After the mining cycle is completed, a full refund will be issued to the promotion account, allowing the investor to recoup their entire investment.

Key Benefits and Features

  • 7 days a week, 24 hours a day, 7 days a week
  • Mobile-Friendly Website
  • Funds Secured in Offline, Cold Wallets
  • 50 percent of all operations Powered by Green Energy
  • Mining Pools Direct Deposit
  • ASIC miners and GPU rigs are the most recent developments.
  • Various Deposit Options
  • Simple and Easy Withdrawal
  • Daily Earnings Based on UTC (after 24:00)

Referral Program:

After signing up on GemTRX and depositing funds into their account, they will begin earning daily passive income. Furthermore, it’s possible to earn extra perks for using GEM-TRX via an affiliate scheme. Sending an invitation code is a simple way to get the word out. Even if one does not invest, they may start generating money with a lifetime commission of 12 percent. For example, one’s referral code will get 120 TRX (12%) if someone deposits 1000 TRX using their referral code.

Investment Plans:

Basic Account: Based on the amount one deposits, withdrawal limitations vary from 2.80 percent to 6 percent, with daily earnings of 5 percent to 10 percent.

Promotion Account: When one recharges their promotion account, they may earn money regularly. Every day, customers will get a return of between 1.3 and 5% of their original investment. The daily gains will add up to the maximum amount of the investment. The duration of mining contracts can be chosen from as little as 7 days to as long as 150 days.

For a breakdown of each mining cycle and its returns, see the chart below:

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  • 7 days 1.3% – min 100TRX
  • 15 days 1.6% – min 100TRX
  • 30 days 2.5% – min 100TRX
  • 45 days 3.0% – min 100TRX
  • 60 days 3.5% – min 100TRX
  • 90 days 4.0% – min 100TRX
  • 120 days 4.5% – min 100TRX
  • 150 days 5.0% – min 100TRX

Rebate Scheme:

In addition to the different cloud mining options, GemTRX offers a rebate option similar to an affiliate scheme by asking customers to create an account through your referral link. See the table below for a breakdown of GemTRX’s rebates:

  • You invite level 1 individuals, and if they register, you will get 30TRX.
  • You will get 20TRX if a level 1 user invites a level 2 user and completes enrollment.
  • You will get 10TRX if a level 2 user invites a level 3 user and completes enrollment.

Deposit Rebate: Based on the amount of money your downline deposits each time.

  • If you deposit 1000TRX as a level 1 user, you will get 120TRX (12%)
  • If you deposit 1000TRX as a level 2 user, you will get 20TRX (2%)
  • If you deposit 1000TRX as a level 3 user, you will get 10TRX (1%)

Trading Rebate: Based on the amount of money earned by your downline miners over a period of time.

  • You’ll receive 5TRX for mining 1000TRX, and you’ll get 50TRX for mining 1000TRX (10%)
  • You’ll earn 2.5TRX if a Level 2 user mined 1000TRX and gets 50TRX (5%)
  • You’ll earn 1.5TRX if a Level 3 user mined 1000TRX and obtains 50TRX (3%)

The whitepaper can be found here while more information can also be found on the company Facebook, Telegram and Twitter handles.

Tron Foundation and Valkyrie to set up a joint trust

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Justin Sun led Tron Foundation partnered with Valkyrie investments to launch the Valkyrie Tron trust on September 17, 2021. According to the press release, the latest joint trust is the first of its kind offering by the Tron ecosystem in terms of global institutional-grade funds in recent times. The report stated that it will begin with $55 million in assets under management [AUM] with a plan to register for listing in the US in 2022.

Tron Foundation’s Justin Sun asserted that the ecosystem has emerged as one of the most inclusive blockchains due to the two most important factors- energy-efficient and cost-effective. He added,

“Tron was incepted with a mission to decentralize the Web. TRX is the layer-1 token of the network that powers the entire Tron ecosystem. This is the initial step in its upcoming strategic initiatives to be announced shortly.”

Since its inception, the TRX network has raked in total assets worth $50 million and more than 54 million users globally. Additionally, it houses, Tether, the largest stablecoin by market cap of more than 50% share.

Valkyrie, a US-based digital asset investment firm, had earlier launched crypto trusts that include Bitcoin [BTC], Algorand [ALGO], Polkadot [DOT] besides TRX. The firm is one of a few prominent asset management firms to file for a Bitcoin ETF this year. TRX’s latest joint venture is expected to help it expand into the US market.

On the other hand, TRX has declined significantly over the last 24 hours. TRX was down by 6% and was trading at $0.108 at press time, in response to market-wide sideways price movement.

Tron Foundation’s latest development

The recent development of the foundation partnering with Valkyrie comes days after Gate.io joining the TRX ecosystem. Under this deal that involved integration with the TRC721 standard and BTFS, Gate.io’s decentralized applications [DApps] would become fully compatible with the TRX blockchain.

Additionally. the crypto exchange will partner with APENFT Foundation to release the first on-chain display of the non-fungible token [NFT] work “UNTITLED [KIMPSONS]” by KAWS on September 15.

Tron’s [TRX] Bullish Momentum Takes A Hit As It Hovers Near $0.14

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Tron [TRX] gained significant momentum in late March and early April. After weeks of switching to the bullish mode, the crypto-asset’s momentum had been neutralized. It tumbled to the 18th spot by market cap in the leaderboard.

Following the downside price action, the volatility in the Tron [TRX] market has taken a hit suggesting that the bulls are tired of pushing the price to breach multi-year highs for the token.

It made a quick recovery in tandem with the wider cryptocurrency market and was up by 4.43% over the past 24-hours even as its volume was low. At the time of writing, the crypto-asset was being traded at $0.141 while holding a market cap of $10 billion and a 24-hour trading volume of $6.82 billion.

Tron [TRX] Daily Price Chart:

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GemTRX Offers Secure and Revolutionary Cloud Mining Solutions 5

Tron’s [TRX] downward price movement was accompanied by low volatility in the market as it tested its nearest support level near $0.140 briefly.

However, the upsloping moving averages -50 DMA [Pink] and 100 DMA [Blue], remained unfazed by the increasing bearish pressure and continued to form crucial support points for the crypto-asset.

TRX 1
GemTRX Offers Secure and Revolutionary Cloud Mining Solutions 6

The dotted markers of the Parabolic SAR switched sides after more than a fortnight and were now hovering above the TRX price candles prompted by the bears’ return to the market. These markers resisted upward momentum depicting a bearish phase for the coin.

The Chaikin Money Flow [CMF], on the other hand, continued to tread in the higher zone depicting a steady flow of capital into the coin market which could drive Tron’s price in the coming days.

The RSI left the overbought conditions but was still well above the 50-median line depicting that the buying sentiment among the investors are still intact.

If the bulls manage to defend the current level, Tron could then target resistance level of $0.163, $0.201, and $224. Should this area be claimed by bears, the support levels to watch out for was found to be at $0.110, $0.083 and $0.061 respectively.

TVL In Tron’s DeFi Ecosystem Hits $8.5 Billion

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Tron, the popular blockchain project founded by Justin Sun has made waves in the decentralized finance [DeFi] space shortly after its foray. In the latest development, its Defi realm has hit a new milestone in the form of total value locked [TVL].

According to the project’s founder and CEO’s tweet on the same, TVL in its DeFi ecosystem has climbed all the way to $8.5 Billion.

TRON
GemTRX Offers Secure and Revolutionary Cloud Mining Solutions 8

Tron’s Burgeoning DeFi Ecosystem

Riding on the unstoppable hype of Defi applications, the blockchain platform made its first foray into the industry with a host of products with ‘JUST’ as the prefix. Following are the Tron-based Defi products that contributed to the $8,5 billion TVL in such a short span of time:

JustStable, which happens to be the decentralized finance [DeFI] system of USDJ stablecoin, has amassed $968.9 million

  • The total value locked in Tron’s official lending platform JustLend was found to be $2.14 billion
  • The decentralized trading protocol JustSwap racked up $1.21 billion in TVL figures.
  • In addition, the TRC20 Token Backed 1:1 By Bitcoin, Ethereum, and Litecoin – Just BTC/ETH/LTC, was found to have a combined TVL of $2.16
  • Total TRX Frozen both in terms of energy and bandwidth stood at $2.102 billion.

The Sun-founded ecosystem has managed to add more than $1 billion in terms of TVL in just a period of 2 days. This can be evidenced by the Tron Foundation’s announcement which stated that the total value locked was found to be at $7.3 billion on the 18th of March.

The foundation has been increasing investment into further developing the DeFi realm and hence, the TVL figures on the network have risen substantially since the beginning of the year. But the latest numbers saw an increase of $3.5 billion which stands for a 70% increase since the roll-out of the blockchain Tron’s Century Mining which was launched by the blockchain foundation along with other platforms such as BitTorrent, JUST Foundation, SUN Foundation, and WINk.

Tron continues its rodeo as market excitedly calls for new updates

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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.

Ethereum, Bitcoin SV, Tron Technical Price Analysis on 16th Aug 2020

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Volatility is completely locked in the cryptocurrency industry at the moment. Ethereum surged towards news new yearly high of $443 over the past day but other coins joined in the rally during ETH’s decline. The market altogether continued to picture a sense of divergence in the charts, like other altcoins continued to improve their standings in the ecosystem.

Ethereum 

Ethereum 1 horu e1597564571331
Ethereum hourly chart

As explained earlier, Ethereum reached another milestone on 15th August, reaching $442, just shy of the $450 mark. This is Ethereum’s third new high in 2 weeks, after clocking in $400 on 1st August. Ethereum had a market cap of $48 billion at the time of writing, with a trading volume of $11.8 billion.

However, Ether’s price fell prey to the volatile market as a quick decline has taken its valuation down to $427. Market Indicators were indicated strong bearish sentiments as well with CMF suggested that capital in-flows were getting outplayed by capital out-flows. Parabolic SAR also maintained its stance above the price candles and now, the Relative Strength Index is reaching an over-sold zone.

However, with the RSI a trend flipping might take place anytime soon.

Bitcoin SV

BSVUSD e1597564623771
Bitcoin SV hourly chart

With Bitcoin SV, the last 24-hours exhibited a decline of 4.14% but remain true to its week-long uptrend in the charts. For Bitcoin SV, the idea seemed simple as the moment with a consistent bounce off the uptrend and then pushing above the immediate support. With a market cap of $4.15 billion, Bitcoin SV was valued at $224.19 at press time.

Similarly to Ethereum, Bitcoin SV’s market confluence was a little bearish too. MACD signal line is trailing under the signal line, suggesting bullish strength in the charts. However, Parabolic SAR is bullish, staying put under the candlesticks and remaining at bay with the apparent long-term bullish rally.

TRON 

TRX 1 e1597564967591
TRON hourly chart

Lastly, Tron maintained its position in the 15th position with a market value of $1.83 billion. For the market cap, TRX tokens had a good trading volume of $809 million, and over the past day, the asset was up by 5.89%. With the parabolic SAR supportive of its rally, the other market indicators were waving a bull flag as well.

Awesome Oscillator suggested that the bullish momentum was slowly building up for Tron, and the MACD line was more often hovering above the signal line. Even though, the signal line was following at close proximity, at the moment bulls had the upper hand on Tron’s market.

Binance Talks all About Tron as Research Dives Deep into the Justin Sun Founded Cryptocurrency Network

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The cryptocurrency market and the communities involved in it have always been result-oriented. This has prompted several crypto organizations to release features that will stick for a long time and are numbers-driven.

Justin Sun led the Tron Foundation as one of the few organizations in the cryptoverse that has ties to almost all major digital asset sectors. In order to give investors and holders a better idea of what they’re diving into, Binance has released a report that talks about the Tron community’s nitti-gritties.

Binance’s latest research talked about how Tron was the second-largest blockchain for USDT, the largest stablecoin in the world. Tron controls more than 30 percent of the total USDT in circulation, which contributes to the $2.9 billion of stablecoins circulating on the TRX blockchain. At the moment, Tron is hosting two DEXs on its platform, which is doing fairly well. PoloniDEX and TronTrade have been two of the best performers this year, adding an average of 750 unique users.

The effect of Tron on the stablecoin industry has been undeniable, with the network beating the likes of Omni and USDC in a short time. At present, Tron has 377,659 addresses on its native network with a total supply of $2.88 billion. Binance ‘s research also dealt with the two different standards of tokens in the Tron ecosystem. The TRC-10 standard acts as a native utility token, while the TRC-20 is the most popular constructed token standard.

Justin Sun has assured proper popularity coverage through multiple partnerships with other crypto organizations. One of the most significant developments on the part of Tron was the creation of the Super Representatives Club. The SR Club is a select group of cryptocurrency companies in the Tron ecosystem who serve as guardian angels of the Tron blockchain. One of the most popular SRs is Tron Europe, a company that has dabbled in various aspects of the blockchain and Tron world.

The Binance research added:

“TRON has a popular ecosystem of decentralized applications. According to DApp.Review, TRON ranked the second blockchain per number of daily users, with a number of users superior to 25,000 users daily in June 2020. Instead, TRON’s community has focused on decentralized and distributed casino applications. Out of the top 10 dApps on TRON, 7 were casinos in June according to the average number of daily users.”

According to the details released by the Changpeng Zhao led Binance, Tron also offers multiple opportunities for investors to trade their holdings. While some are admittedly risky, groups like Cityuptake provide opportunities for users to leverage the SR system and track their capital. Factors such as a vibrant community and an increasing trading volume have made Tron one of the few blockchain networks to watch out for in the near future.

Tron Europe Continues Global Push as Rewards System Put Under the Spotlight Again

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The cryptocurrency ecosystem has witnessed constant developments, and the most dedicated players in the field are doing everything in their power to make it big. Obstacles like massive sell-offs and coronavirus spread have not stopped multiple updates in the cryptoverse, a sign that things are changing for the better.

 One of the most prominent organizations in the digital asset world is Tron Europe, which has been making waves since its inception. By creating reward methods that benefit users and by partnering with other growing enterprises in the Tron ecosystem, the company has been growing at a fast pace.

Tron Europe’s main focus has always been on building a self-sufficient cryptocurrency ecosystem that can usher in the fabled ‘Web 4.0’.The organization also held a competition at the beginning of this year, in which participants were asked to describe the Tron Europe, reward model. Tron Europe is also a super-representative of Tron, giving it even more power to support the growth of a growing industry.

The company’s focus on its customers has been a celebrated fact and if you ask Tron Europe, it is a characteristic that they would love to maintain. As a SuperRepresentative, Tron Europe pays its own TERC token instead of TRX for its voters. For the time being, the total calculated value for TERC is 30 percent of that of the original token., To make it more interesting for the holders, Tron Europe also pays Holder Rewards that can go up to a whopping 250 percent. 

According to the company officials, the reward system was created so that more people could contribute meaningfully to the Tron sector, Tron Europe has embraced this idea by building its own Token economy and creating native dapps. Speaking to TWJ, Tron Europe admitted that a good cryptocurrency product needs to have proper use cases and not just be useful for trading. `

Users need not fret about getting their profits as Tron Europe has assured everyone that all payouts will be paid out in TERC. This holistic approach would act as the mainstay for the ecosystem, thereby creating a strong tie between the organization as well as the token holders. By creating a step by step process for its token holders, Tron Europe successfully functions as a Super Representative by putting the onus on creating value for its native products. This has been the main attraction for the new customers entering the field. 

Officials from Tron Europe have confirmed that there are several projects in the pipeline which are expected to change the cryptocurrency game. Applications like BeFaster, TESD, GoT: The Revolt, Aftermath Islands and DVM are all expected to make waves in an industry requiring a legitimate foundation for growth. 

Tron Europe also elaborated on its latest implementation: the TERCium-Force. Under this, all the million-plus TERC holders will become eligible to join the bonus yearly reward and the special VIP room.  The organization had recently tweeted:

“Everybody wants to get the highest rewards for his votes. So tell me are you getting the highest rewards possible? Vote Tron-Europe! Because Tron-Europe has the highest voter rewards and gives TERC-holder rewards on top. It’s a fact.”

Tron Europe informed all its users that future developments would bring in more rewards to the ecosystem that will in turn result in more growth. It is now up to us and the community as a whole to see what comes next and then uses it to contribute significantly to the cryptoverse.

Justin Sun and Tron take CryptoLocally Partnership to the Next Level; USDJ and JUST Token Listed

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The cryptocurrency market has seen steady progress over the last few months, despite the spread of COVID-19. Popular cryptocurrency organizations have reassured users by launching new features and listings that are bound to make the industry more streamlined and wholesome.

In a bid to onboard new users to the Tron ecosystem, Justin Sun, its founder and chief executive officer, has recently announced a new collaboration. On June 16, Sun tweeted that both the JUST coin and the USDJ token were listed in CryptoLocally, a popular crypto exchange.

According to the latest reports, both tokens will be available to buy and sell from anywhere in the world while at the same time they will be available for fiat exchange. Sun and the Tron Foundation have been pushing the envelope for advertising related to both the JUST token and the USDJ stablecoin. Although the launch was conducted with a lot of fanfare, the community was on the fence about the latest update.

While Justin Sun and Tron continued their USDJ promotions, Cryptolocally conducted their own giveaways and events. On June 15, the cryptocurrency exchange announced a JUST giveaway where participants had the chance to win up to USD 500. To enroll in the competition, participants needed to sign up for CryptoLocally.com and then trade USDJ on the platform. Each CryptoLocal trade was calculated as a single point. CryptoLocally has revealed that the competition will continue for a week and is expected to end on June 22nd.

At the end of the competition, three winners will be chosen who will have access to a prize pool of $500. The release from the company stated:

“If any prize or prize notification is returned as undeliverable, if any potential winners reject his/her prize or in the event of noncompliance with these giveaway rules and requirements, such prize will be forfeited and may be awarded to an alternate winner from all remaining eligible entries (time-permitting).  Upon prize forfeiture, no compensation will be given.”

CryptoLocally has been quite busy over the past couple of weeks as the giveaway competition was not the only development in the company’s kitty. The exchange has also partnered with the MEET.ONE wallet to provide customers with a secure and decentralized platform connected to EOS. MEET.ONE functions as a multi chain decentralized wallet which is part of the MEX exchange. Customers will also have access to an AI Grid Trading Bot that will make it easier for them to trade.