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TRON [TRX] broke the bull flag and is moving up! – Sentiment Analysis – April 13

Vinod KA

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TRON [TRX] broke the Bull Flag and moving up! - Sentiment Analysis - April 13
Source: Wikimedia

The major cryptocurrencies except for Tether [USDT] are showing green signals. Tether which claims to be at a 1:1 correspondence with the US dollars has come down below the $1 mark and has experienced a loss of 0.39%. EOS was trading at $6 on April 11th before it went on an uptrend to reach $9.18 at 1:35 PM UTC today. EOS still maintains the upside momentum but failed to retain the spot. Ripple [XRP] is also in the green zone with a big gain of 21.87% as its price is placed well above $0.65 at $0.677. The last one-hour statistics for almost all the coins also look green.

A group of investors, miners, analysts, skeptics, and influencers were interviewed and based on their sentiments and opinions on the current market trends, a segment called sentiment analysis is framed. This analysis includes expert opinions of people from around the world which are presented as it is. This analysis will be on the coin TRON [TRX] which is at the 14th spot currently.

TRON [TRX]

TRON has moved a spot down from 13 to 14 about an hour ago from the time of writing. At 1:46 PM UTC, TRON was priced at $0.041 with a market capital of $2.697 billion. TRON has broken the sideways movement and has gained some momentum. The coin was trading at $0.035 and it started climbing up at around 10:39 AM UTC yesterday. It was expected that once the coin breaks the $0.040 mark it would go up. If the price of TRON stays above this level, the chances are that it will go higher.

Casey Griffin, a TRON investor from Bendigo says:

“An inverse head and shoulder pattern is formed and this indicates that there is a chance for a bullish trend reversal. My personal advice to all the TRON investors is to HODL your coins and wait till the mainnet launch on May 31st. The pattern has both high and low peaks but it will take the coin till the $0.20 mark.”

Rick Nixon, an altcoin miner from Hamilton says:

“TRON has finally broken out of the bull flag after bouncing in the flag for a few days. If we look at the MACD, we can see that momentum is picking up and can expect TRON to go up higher further. The short term resistance has also been broken and if the coin stays above this mark it will be a bull run.”

Griffin Hughes, a TRON enthusiast from Mississippi says:

“I have a strong feeling that TRON is going to moon so hard during the mainnet that people will regret not jumping on earlier. Now is the time to invest as it will guarantee a big profit in future. Justin Sun is surely a man with a vision.”

To conclude, 67% of TRON respondents are bullish and expect a hike in the price like the other cryptocurrencies. They feel that the targets set for TRON will be achieved by the coin and it will have exponential growth. Another 33% still feel bearish as the testnet launch did not help the coin in the short term. However, they are of the opinion that the mainnet launch will decide the future of the coin.

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Vinod KA is an intern at AMBCrypto who has been analyzing the cryptocurrency market trends for several months now. He joined the company out of sheer interest in the cryptocurrency world and is fascinated by its dominance in the financial world. He does not hold value in any cryptocurrencies as of now.

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‘The U.S SEC must regulate the cryptocurrency market to eliminate the bad actors’ – says Ran Neu Ner

Laira Rebecca

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‘The U.S SEC must regulate the cryptocurrency market to eliminate the bad actors’ - says Ran Neu Ner, the CNBC host
Source: Max Pixel

CNBC Fast Money, hosted by Melissa Lee, had Ran Neu Ner as the guest this time. Ran Neu Ner is a famous host of CNBC Africa’s Crypto Trader show and is the Founder of OnChain Capital.

The main topic of discussion was about “Is cryptocurrency market being manipulated?”

According to Ran, in the past, it was easier to manipulate the cryptocurrency market because there were a very few exchanges, a few on-ramps, and off-ramps. However, today with an overall market cap of $330 billion, it is a bit more difficult, because there are many exchanges and the volume of the digital currencies are much higher.

He also mentioned about the recent tweets that exposed a group, who is manipulating small penny tokens and how they got exposed for manipulating small e-liquid tokens.

Melissa further raised a doubt about how the market manipulation is occurring in deepest markets like London Interbank Offered Rate [LIBOR] and compared it with the U.S cryptocurrency market.

Ran mentioned that he is not sure about it, because the U.S. Securities and Exchange Commission [SEC] has not regulated Bitcoin and other cryptocurrencies.

Therefore, there are no regulated acts, under which the illegal terms can be questioned.

He says:

“what is the problem of driving the prices up? It is illegal in terms of what act? We are not a currency, not a commodity, we don’t know what we are.”

Further, they discussed, due to the uncertain market values of BTC and other coins, should the traders be cautious about what the SEC, U.S. Commodity Futures Trading Commission [CFTC] or the U.S Department of Justice [DOJ] is going to look at.

Ran says, when the SEC and other organizations come up with regulations, it is going to open the floodgates for new money to come in. He thinks that regulations are eminent and he expects SEC to quote new regulations for cryptocurrency and hopes that everyone will follow it.

Also, he mentioned that he would encourage crackdowns because they can catch the bad actors who create a lack of trust. To obtain a real asset class with real people, eliminating bad actors is very important.

Ran believes that people across the U.S are waiting for the guidance of SEC and they have a huge part to play in regulating cryptocurrencies, while other countries are already looking into various aspects of cryptocurrency and have started accepting them.

A cryptocurrency enthusiast says:

Always an interesting conversation when it comes to manipulation. The #Silver market has had a conspiracy theory about being manipulated for more than 10 years.”

Anthony Matthew, a business analyst says:

“BTCUSD barely broke lower than 7500 all day, despite well-known news of cryptotrade manipulation and DOJ + CFTC investigation.  I feel like I am trading in the stock market again, so I am buying Bitcoin at 7500.”

A cryptocurrency miner named Chad commented:

“Maybe the DOJ and @CFTC will crack down on manipulative paid Roger Ver shilling appearances too”

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TRON [TRX] partners with vSport to launch world’s first Soccer Blockchain

Prerana Sarkar

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TRON partners with vSport to launch world's first Soccer Blockchain
Source: Pixabay

On May 25, Justin Sun announced that TRON and vSport have come up with a partnership where the two companies can support each other in the development of the soccer industry’s blockchain technology by sharing content and creating communities that shall increase its reach.

vSport aims to build a sports ecosystem with cross-partnerships with leading networks’ like TRON along with authorized distributors of the World Cup and make payments easier and more scalable. This project is dedicated to creating a public chain for the Global Sports Industry. It is expected to be the world’s first non-profitable blockchain platform, involving tokens.

Qiang Bai, an artificial intelligence entrepreneur who is the mastermind behind the creation of vSport has paired with the famous Dutch footballer Wesley Sneijder. This collaboration also involves the world’s largest sports social media powerhouse 433, and China’s Sport8 which is a successful sports educational platform.

After the launch in Singapore, vSport co-founder, Wesley was quoted as saying:

“I believe Blockchain can help to bring balance to the economics of sports. That is why we launched our sports-chain project. I’m excited to see an open and decentralised sports community that focuses on fans first.”

Both the parties have come to an agreement on sharing its collaborative techniques, resources, and energy to create a decentralized web platform to make the blockchain technology more mainstream. The TRON community believes in rewards for all the people contributing to its progress. A special community is going to conduct an assessment of the participant’s contribution based on which TRX tokens, TRON merchandises like t-shirts and gifts will be offered.

Justin Sun, the Founder of TRON, has put out his views stating:

“Soccer is the biggest sport in the world. It has the largest fan base, and the community has always had a keen sense and great enthusiasm for new things. Combining soccer and sports in general, with blockchain technology will effectively expand community support for blockchain. This will provide people with an enhanced experience of blockchain and even change their lifestyles.”

He mentioned Wesley Sneijder, the former Netherlands national team footballer who Justin claimed to have helped in heading soccer-related projects off the field. He then spoke of him as:

“Wesley Sneijder, who not only helped the Netherlands dominate the field, but also has spearheaded soccer-related projects off the field. As a fast learner that embraces blockchain technology, it’s likely that Wesley will completely change the structure of the soccer ecosystem through this initiative. TRON very much looks forward to this partnership.”

Today he posted on Twitter saying:

 

The TRON protocol provides one of the most scalable operating systems in the world with its blockchain technology. It enables users with large-scale data transmission with a promise of more than 10,000 transactions per second. They also have the feature of smart contracts for crowdfunding and issuing more digital assets.

One Twitter user supports the partnership by replying:

vSport now holds a large traffic with more than 30 million sports enthusiasts and 15 million supporters from China. The 2018 Russia World Cup is scheduled to open on the 14th of June, gaining more importance in what was announced today. TRON and vSport will work towards creating a blockchain based ‘soccer results forecasting platform’ for better quality entertainment for its fans.

According to Qiang Bai:

“With sports models of the past, it is hard for fans to get rewards in exchange for their enthusiasm and contributions, which causes serious imbalance in the value structure. Collaborating with TRON allows us to join forces with another strong company, leveraging our soccer and sports resources to solve difficult soccer and sports industry-related issues. We will work together to build and nurture a healthy soccer and sports ecosystem. I believe this will be a great way to give back to soccer fans around the world.”

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