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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.

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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

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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.

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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 11 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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Cryptocurrency Market Enters Corrective Phase as Majors Retreat from Recent Highs

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The cryptocurrency market declined across the board Thursday, as bitcoin, Ethereum and the rest of the major altcoins retreated from recent highs.

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Crypto Market Backpedals

After peaking above $518 billion on Saturday, the market capitalization for all cryptocurrencies has fallen to $469 billion, based on latest data from CoinMarketCap. That represents a decline of more than 9%. Trade volume across all digital assets approached $24 billion over the past 24 hours.

The latest drop in total coin value seems to have coincided with broader uptake in bitcoin, the world’s most popular cryptocurrency both in terms of market cap and trade volume. Bitcoin now accounts for more than 39% of the total market,  a near seven-point increase over last month’s lows.

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Bitcoin made a strong move above $11,000 on Wednesday, eventually hitting a three-week high of $11,329. As we wrote Wednesday, bitcoin in particular seems to be benefiting from a myriad of market forces ranging from favorable regulations to improved investor sentiment.

At the time of writing, the cryptocurrency was worth $10,901.

Other major cryptos were also down at the start of Thursday trading, with Ethereum slipping 3.6% to $864.83. Ripple’s XRP token declined 2.7% to $1.04, while bitcoin cash fell 4.3% to $1,336.50.

Even Litecoin, a currency that has witnessed a 50% surge this week, fell more than 3% to $219.43.

Paul Singer Calls Cryptocurrencies a Huge Scam

Elliot Management, a multi-billion-dollar hedge fund headed by Paul Singer, recently came out with a report calling cryptocurrencies “one of the most brilliant scams in history.” It added that “FOMO (fear of missing out) has solidly trumped WTHIT (what the hell is this??).”

In the cryptocurrency world, talk is incredibly cheap, and arguments from authority don’t hold much credence. Although Elliott dedicated three pages to cryptocurrencies, there doesn’t seem to be a strong argument against cryptocurrencies. (Calling cryptos “nothing except the marketing power of inventors, financiers and others who love the idea of buying a black box…” is not an argument.)

That being said, the fund’s comments may have resonated with speculators who are already on the fence about re-entering the market. After all, the daily news headlines play a huge role in shaping investor sentiment, regardless of whether those headlines are true. This has been demonstrated time and time again by regulatory developments in nations such as South Korea and India.

As Singer’s comments clearly show, there’s still plenty of FUD (fear, uncertainty and doubt) driving the cryptocurrency market. This is unlikely to change soon even as bitcoin and the technology that underlies it enjoys greater mainstream adoption.

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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4.5 stars on average, based on 161 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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Litecoin Touches New Five-Week High in Wake of Hard Fork

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Litecoin hit fresh five-week highs Tuesday, as the coin continued to generate momentum in the wake of a hard fork that produce Litecoin Cash (LCC). Although holders of the original Litecoin were credited with the new token, project founder Charlie Lee has warned investors that LCC has nothing to do with the original cryptocurrency.

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LTC/USD Price Levels

Litecoin jumped around 9% to a session high of $244.11, putting it on track for its best close since Jan. 15. At press time, the LTC/USD exchange rate was valued at $240 for a gain of 8%. The currency has added more than 53% over the past five days, but is still trailing its year-to-date high by about 25%.

With recent gains, Litecoin has moved back into fifth place on the active list of cryptocurrencies with a market cap of $13.5 billion. The coin was previously overtaken by Cardano, a lesser known altcoin that has seen huge gains this year.

The latest rally has also been accompanied by an upsurge in trade volumes involving LTC. More than $1.1 billion worth of Litecoin trades were placed over the past 24 hours, according to data provider CoinMarketCap.

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Hard Fork Produces Litecoin Cash

Litecoin Cash came into existence on Sunday following a hard fork of the original LTC protocol at block 1,371,111. The official split occurred around 11:00 p.m. GMT. Investors who held the original Litecoin at the time of the hard fork received the new LCC at a ratio of 10:1.

The hard fork introduces bitcoin’s SHA-256 algorithm into the blockchain. The original uses Scrypt to verify transactions.

Earlier this month, Litecoin founder and chief visionary Charlie Lee warned investors that the planned hard fork was not affiliated with his company. In a Feb. 4 tweet, Lee issued the following statement from his @SatoshiLite handle:

“PSA: The Litecoin team and I are not forking Litecoin. Any forks that you hear about is a scam trying to confuse you to think it’s related to Litecoin. Don’t fall for it and definitely don’t enter your private keys or seed into their website or client. Be careful out there!”

A hard fork is generated when the original cryptocurrency splits into two, usually as a result of changes to the original blockchain’s code. Bitcoin went through two hard forks last year that produced bitcoin cash (BCH) and bitcoin gold (BTG).

As for the newly created Litecoin Cash, prices surged more than 400% following the Sunday fork. At the time of writing, LCC was valued at $7.63 for a gain of 150%. The coin peaked at $9.25.

Though largely influenced by the LCC fork, Litecoin’s recent bullish streak has also benefited from the planned launch of LitePay, a new payment processor that will help e-commerce businesses accept cryptocurrency payments. LitePay is scheduled to go live Feb. 26.

Litecoin’s popularity is also growing on the dark web and among those who are more concerned with privacy. A recent study published by Recorded Future found Litecoin to be the second-most popular cryptocurrency among criminals, behind bitcoin.

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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4.5 stars on average, based on 161 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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Bitcoin Leads Cryptocurrency Market Back Above $500 Billion

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The cryptocurrency market’s broad recovery continued on Saturday, as bitcoin inched closer to $11,000 and nearly all major altcoins reported gains.

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$500 Billion Market

Cryptocurrencies achieved a combined market cap of $508 billion on Saturday, their highest since Jan. 30. The market is up 22% over the past seven days and a staggering 84% from the Feb. 6 bottom of $276 billion.

Gains were reported across most major assets on Saturday. Bitcoin led the major market rally, climbing more than 7% to a high of $10,874.24. At last check, the currency was trading at $10,813 for a total market cap of $183.4 billion.

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The recent rally attempt has given bitcoin strong momentum, with RSI and MACD indicators showing the continuation of bullish upside. The coin is currently trading at more than two-week highs, having recovered 81% from its early February low. Its share of the total market is just over 36%, up from around 34% last week.

Several other major cryptocurrencies, including Ethereum, Ripple and bitcoin, were also higher on Saturday. All are part of the top-five coins by market cap.

Privacy coin Monero was among the biggest gainers percentage-wise, rising 12%. Cryptocurrency Lisk also rose by a similar amount.

Momentum Builds

Momentum has been gradually returning to the market as “fear of missing out” replaced “fear, uncertainty and doubt” as the major paradigm. South Korea also sent positive vibes throughout the market after government officials downplayed fears of an all-out ban on domestic exchanges. As Hacked reported earlier this week, Minister Hong Nam-ki says his government will focus on making digital currency exchanges more transparent.

According to a report that appeared in BusinessKorea on Monday, Seoul is exploring the possibility of a licensing system for domestic exchanges. The report indicated it would be similar to the BitLicense system currently employed in the U.S. state of New York. Under this regime, digital currency exchanges must seek regulatory approval before entering the market.

Speculators have spent most of their time on the sidelines since the market tanked earlier this month. The latest rally could draw more investors back into the fold as “FOMO” mentality takes root. The turnaround in the market has been broad-based, with only ten of the top-100 coins reporting declines on Saturday.

The market’s rebound also came as bargain hunters scooped up coins at rock-bottom prices last week. One trader reportedly purchased $400 million worth of bitcoin between Feb. 9 and Feb. 12. The identity of the so-called “bitcoin whale” remains anonymous.

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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4.5 stars on average, based on 161 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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