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Why Investors Should Pay Attention to TRON (TRX)

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TRON burst onto the cryptocurrency scene with an ICO in August 2017, and started trading in late September 2017.

We’re hardly into the new year, and TRON is starting to make some serious waves in the market.

While I don’t like to make price gains a focal point of my articles, it’s worth noting that TRON jumped from $0.033 to $0.12 in the past few days.

TRON CMC

TRON focuses on building a platform that allows digital content creators to cut out third-party intermediaries like the Apple Store and Google Play. This will ultimately help content creators get paid directly from their users.

In the absence of a crystal ball, we can look at some of the exciting components of the TRON project.

Justin Sun and Team

The CEO and Founder of TRON is Justin Sun, who is often referred to as “the next Jack Ma”, the founder of Chinese eCommerce empire Alibaba. His accolades are nothing short of impressive at the age of 27. The University of Pennsylvania graduate is also:

  • 2015 Forbes China 30 under 30
  • 2017 Forbes Asia 30 under 30
  • founder of Peiwo APP (China’s Snapchat)
  • an attendee of Hupan University founded by Jack Ma
  • a former chief representative of Ripple China.

The TRON team also counts Lucien Chen, a big data expert from Tencent and Alibaba. Chen recently announced he’s bringing a chunk of the Alibaba tech team including some top developers to work at TRON. What makes this interesting is that this most likely isn’t a poaching situation. Why would Alibaba allow its talent to flood to a promising blockchain project? This could be the underworkings of a future integration with the Alibaba platform in the future, which is pure rumor mill but would be a huge win for TRON (and for investors).

One of TRON’s early investors is Feng Li, who has a fairly stacked resume in the cryptocurrency industry. He provided the seed capital for Coinbase, which is absolutely raking in revenue with the flood of new users. Li also serves on Ripple’s board of directors, which has a market cap of about $132 billion at the time of writing.

One of their early investors is Feng Li, who also provided the seed capital for Coinbase… Li also serves on Ripple’s board of directors.

A Long-Term View

The TRON project sets its gaze for the long-term, with a series of phases starting with Exodus in 2017 leading to Eternity in 2023.

The short-term spike in price might seem like a sudden erratic bull run, but the project seems to have more than enough steam to carry it for the next few years regardless of token price.

Final Thoughts

I highly recommend learning more about TRON before making investments. I believe the above criteria and the fact that it’s currently the only token under $1.00 in the top 20 market cap coins makes it an attractive target for many investors.

As always, do your own research, gain/lose money on your own terms.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 17 rated postsAlex Moskov is a writer and entrepreneur with a passion for building and creating awesome things. Alex has experience in music tech startups, digital marketing, and cryptocurrency investing.




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9 Comments

9 Comments

  1. BitterCovfefe

    January 4, 2018 at 9:13 am

    Why does the price matter? The value of a coin as I understand it is a matter of price + number of tokens in circulation, and a token being priced under $1 is not in of itself a reflection of its value or growth potential.

  2. MinerMatt17

    January 4, 2018 at 2:22 pm

    it is for noobs, who want to buy low priced coins, thinking it will go as high as other coins. Thus people are by far overpaying for a coin like ripple, which is a centralized, fake crypto because it seems to have a low price tag. People like owning lots of a coin, not a fraction of 1 coin.

  3. douglash

    January 4, 2018 at 10:45 pm

    Low token price is a psychological element, but still a real one. You see it in the stock market as well. People hesitate to get into very highly priced shares. (Though Apple and Amazon are curing them of that.) This is the primary reason why stocks do splits.

  4. fredricschwartz

    January 6, 2018 at 1:00 am

    It would have been nice to buy on the dip today but moving Bitcoin out of Gdax / Coinbase takes forever. Over 6 hours later and the transaction is still pending. This is the fucked up thing about crypto in general. The transaction time to move coins from wallet to wallet is not in the least bit efficient. Not to mention Bittrex holds wallets hostage with account maintenance for long periods of time (days in the case of Neo). How can one easily trade in and out of crytpos with all these issues?

    • uss_callister

      January 6, 2018 at 2:14 am

      Yeah it is quite annoying but I’ve found that moving Ether to buy Alts to be more efficient than using BTC so long as the exchange as an ETH market for that token.

      • fredricschwartz

        January 6, 2018 at 8:25 pm

        Thanks for the feedback. I will try that next time. Are you converting back to BTC once the transfer is complete? The situation is out of control. Note from Gdax / Coinbase:

        Identified – Due to high transaction volumes, we are currently working through a backlog of outgoing BTC and ETH transactions. Customers sending these assets from Coinbase to an external address may experience a delay before the transaction appears on the blockchain. Deposits, buys, and sells are unaffected by this incident.

        Customers should anticipate the following wait times:
        – BTC: up to 72 hours
        – ETH: up to 5 hours (reduced from 12–36 hours)

        • uss_callister

          January 8, 2018 at 11:00 pm

          Nah I usually just stick with the ETH market. They are fairly liquid on Binance and with regards to TRON I think the TRX/ETH pair has been doing just as much as volume as TRX/BTC. It’s fairly liquid and the price differences are minute at best. I’m personally trade strictly ETH pairs. Only switch to BTC if the alt only has a BTC market or the ETH market is fairly illiquid.

  5. mvppvm_07

    January 8, 2018 at 11:08 pm

    Coinbase also lets you move LTC & BCC. Choose the pair with the likeliest ease of transfer from one exchange to another. This is a good introduction to arbitrage as well, keeping in mind what uss_callister says about liquidity.

  6. vicgrad

    January 15, 2018 at 8:18 am

    Maybe it’s time to take out this recommendation as there are rising concerns over this coin. Here is the latest story on tron: https://news.ycombinator.com/item?id=16148323

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Why Investors Should Pay Attention to OmiseGO

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Decentralization is a word that receives a ton of lip service in the blockchain community, but some companies are actually doing an amazing job getting their actions to back their words. OmiseGO is one such company.

Omise was founded in 2013 as a payment services company, and OmiseGO is an extension platform that operates separately. It is important you not confuse the two.

As an ERC-20 token that operates a smart contract platform, OMG is a high-performing proof-of-stake protocol with a massive mission to bring decentralization to trading.

What Need is OmiseGO Fulfilling

Ripple was originally seen to be the top solution in the payment providers sector, but its lack of decentralization has shown that there are significant downsides to their operating model. OmiseGO aims to become a decentralized Ripple, but operating a high-powered decentralized exchange (DEX), and has already become the top name in on-chain and cross-chain transactions.

With decentralization and the ability to connect fragmented payment processors, OmiseGO would also be able to help the unbanked gain access to the banking system.

There is currently a massive gap in the legacy financial network, since payment networks (such as SWIFT) have unilateral control over the flow of financial services on their network. Paypal and Venmo have proven to have similar centralization risks, even if they bring some competition to the table.

Not only would OmiseGO decentralize payment processing and create a DEX, but they have released a software development kit (SDK) to enable the creation of new applications and wallets on their system.

Meet the OmiseGO Team

OmiseGO is run by a well-reputed team (headed by Jun Hasegawa) who in the past have been referred to as “Fintech Rockstars” by Forbes. Their advisory board is packed with big names like Vitalin Buterin, Gavin Wood, and Joseph Poon, to name a few.

By contributing $100,000 to the Ethereum foundations DEVGRANTS program, they have indicated a strong commitment to the future of Ethereum and their investment within the community.

Every token needs to have its utility, and OMG is paid to holders in exchange for validating transactions. These holders have the right to confirm blocks, and effectively work as income producing assets in the course of the operation of the network.

The incentives here lie in the value of the network. The more transactions that need to be validated, the more token holders will need to confirm transactions, and therefore the more money is likely to be distributed to OMG holders in exchange for their confirmations.

OmiseGO’s Recent Performance

OmiseGO is now trading at around $3.30 USD, which is down an incredible amount from its high above $24 USD in January. This has been typical of many assets in the industry, but could be a sign that OMG is oversold.

There has also been a lot of news about OMG recently. In July a partnership with Status was announced that would result with the integration of the services of the two companies. Status is an open source dapp (decentralized app) for phones and browsers, and was one of the first clients to be developed on the Ethereum blockchain. Their core project is to link mobile chat and social media by using Ethereum tokenization.

With the goal of ultimate decentralization, OmiseGO has its work cut out for it. Although founded in 2013, they are still in the early stages of their expansions. More good news came in early June, when OMG was listed on Unocoin, one of the top asian exchanges located in India.

OmiseGO’s dream of connecting all the disparate financial systems and rails gives it the potential to become the DEX of the future. The question is whether they can displace the already dominant Ripple by going in a different strategic direction and sticking to their core tenets of decentralization and trustless networks.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Bitcoin Price Defends $6,000 as Crypto Market Cap Returns Above $200 Billion

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Bitcoin rebounded sharply on Wednesday after a bear market breakdown dragged prices to within $100 of yearly lows. Although the technical indicators have improved, significant downside risks remain.

BTC/USD Update

Bitcoin’s price was up 4.6% on Bitfinex to trade at $6,483. The leading digital currency reached a session high of $6,483, having recovered more than 8% from Monday’s swing low. Bitcoin’s 24-hour trade volumes averaged $4.6 billion on Wednesday.

The $6,000 price point has emerged as an important support level for bitcoin. As Hacked previously reported, this level is not only psychologically significant, it represents more or less the break-even rate for miners.

The monthly technical chart shows improving conditions in the bitcoin price, though this should be taken with a grain of salt given the market’s extreme moves as of late.

At current levels, bitcoin has a total market capitalization of $109.8 billion, which represents 53.6% of the total cryptocurrency market.

Altcoins and tokens collectively rose by $8 billion on Wednesday to reach a total value of $94.4 billion, according to CoinMarketCap. The value of all digital assets was $204.6 billion.

The Market’s Next Move

Although predicting bitcoin’s next move is notoriously difficult, a successful defense of the $6,000 floor is an important step in facilitating the next rally. That the yearly low ($5,755) wasn’t breached during the latest downtrend suggests the bulls may be running out of steam.

That said, bitcoin’s dominance rate reveals structural weakness in the cryptocurrency market, not to mention damaged investor psychology. As Hacked reported Tuesday, cash-out from the ICO boom appears to be largely responsible for the latest reversal, a sign that investors were losing confidence in riskier assets. This is further corroborated by Ethereum’s dramatic selloff over the past seven days. The so-called developer’s cryptocurrency has been responsible for three-quarters of initial coin offerings.

According to BitMEX CEO Arthur Hayes, investors shouldn’t expect a large price recovery at this stage given the general lack of momentum, volume and stability in the market. Trading volumes – a key proxy for demand in the cryptocurrency market – averaged $13.4 billion on Wednesday, based on latest available data.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 546 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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Augur (REP) Backtracks to 16-Month Lows; Aurora (AOA) Falls Away

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Augur (REP) fell 24% throughout Tuesday on its way to a token valuation last seen in April of last year. Daily volumes have halved for the decentralized prediction market platform as today’s sell-off accelerates the process that began on August 7th with the Bitcoin drop-off.

Augur Backtracks to April 2017

In one of the most elongated price reversals in the market cap top one hundred, Augur has gone beyond mere yearly lows in its descent to the price of $15.16, recorded just a few hours ago. That’s down from the daily high of $19.96 recorded 24 hours ago – it has been nothing but descent for Augur since then.

The weekly numbers look no better, with 42% losses for the week. The month looks much better in comparison, with 46% losses over thirty days, thus showing the extent of just how bad this past week has been. A rebound is being attempted at the time of writing, as the price pushes back up to the $15.30 range.

Augur made a splash in the daily news cycle in recent weeks with its assassination markets – a feature open to be used, or created by any user on the Augur platform. The heat died down after the initial splash, which saw around $1.5 million worth of bets placed on various markets.

Sudden Influx From Korea

After seeing no more than a $3-$5 million daily volume for the entire week, Augur suddenly felt a sudden influx of $60 million on August 13th. The volume peaked overnight at $61 million before a massive reduction sent it back down to $27 million from which it continues to fall.

Right now, $23 million of that sum is coming from REP/KRW trades emanating from Bithumb – that’s 81.5% of the daily volume. The subsequent REP price on Bithumb has climbed as high as $167, although that price has been excluded from CMC’s readings.

Aurora Falls Off

The worst losses for the day have come from Aurora (AOA) which is down 45% at the time of writing. Aurora has been sinking all week long to the tune of 66% losses over seven days.

Aurora was listed on Kucoin in June, and has been hailed (by some) as (yet another) contender for Ethereum’s crown as king of the dApps. But besides a recently launched bug bounty program not much seems to be happening over at Aurora at the moment.

While it’s fun to speculate on why Aurora has taken the worst of the hit, it may have something to do with the fact that it is only available for trading on one exchange – the aforementioned Kucoin. Today on Kucoin AOA/ETH trades were the most popular; perhaps a sign that the current low Ethereum prices proved more attractive than holding onto AOA for any longer.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 38 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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