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Tron [TRX] has a hi-bye relationship with top 10 cryptocurrencies club

Simran Alphonso

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Tron [TRX] has a Hi-bye relationship with club of the top 10 club Cryptocurrencies
Source: Pixabay

TRX has repeatedly jumped in and out of the top 10 cryptocurrencies club. On 18th July, TRX overtook Tether [USDT] and came to its # 10 position on CoinMarketCap. However, in a few minutes, TRX left the league of top 10 as it came down to its current position #11.

Justin Sun, the Co-Founder of Tron, tweeted:

“#TRX again in the top 10 on @CoinMarketCap .#TRON $TRX.”

Top 10 Cryptocurrencies | Source: CoinMarketCap | Photo Credits: Justin Sun

Top 10 Cryptocurrencies | Source: CoinMarketCap | Image Credits: Justin Sun

CryptoBroker, a Twitter user commented:

“It’s back to 11 this scam can’t even last more than 20 minutes in the top 10 anymore lol”

On 17th July, Justin Sun announced the coin burn of the third batch of tokens, which comprised of 404,956,275.175006 tokens. The token burn was scheduled for 17th July 03:53:52 AM [+UTC].

On 21st June, Justin Sun and Tron foundation announced the coin burn of 1 Billion TRX tokens to celebrate the independence from the Ethereum blockchain.

Additionally, Tron Independence Group [TIG] was entrusted with the 33,251,807,424 TRX, while the original amount is 34,251,807,524 TRX. These were held by TRON foundation, considering the safety of its virtual asset.

After this, Tron released its locked TRX tokens and burnt close to 49 billion TRX ERC20 tokens.

Till date, the total number of TRX tokens burnt is 92,424,664,154.355837 out of 100 billion TRX, i.e. 92.42% of the issued total.

It is speculated that the coin burn that Tron held on 17th July was the reason why TRX tokens pumped and entered the top 10 club again.

JK Andreas D, a crypto-enthusiast said:

“your coinburn techniques dont even last for a day sun.”

Tron's one-day chart | Source: CoinMarketCap

Tron’s one-day chart | Source: CoinMarketCap

As observed TRX started its day on 17th July with the trading price of $0.036 after which the token pumped. The hike made TRX jump to $0.040 and resulted in a sudden increase in its market cap. TRX tokens had a market cap of $2.410 billion, the sudden increase pushed the coin to $2.634 billion.

The token burn was not the only highlight of Tron’s week. Tron has also inaugurated a new branch in San Fransisco.

Justin Sun tweeted:

“Check out the view from the new #TRON San Francisco office! $TRX”

Along with this, the young Co-Founder also added a video that showed the view of their new office.

Robert Almeida, a Twitter user commented:

“Damn…and in a nice part of SF too. Not too far away from Coinbase HQ.”

In addition to this, the team also spoke about the total number of exchanges who have currently resumed trading of the new TRX20 tokens.



Justin Sun tweeted:

“22 exchanges already resumed #TRX deposit and withdrawal as of July 18 (UTC+8). #TRON $TRX”

Binance, Bitfinex, Bitforex, Bitpie, Bittrex, Bit-Z, Bjex, Cobo, CoinEgg, Coinfalcon, Coinnest, Cryptopia, Gate.io, Hitbtc, Huobi, Koinex, Liqui, Max Exchange, OKEx, Quoine, Tokenomy and Upbit have resumed trading of TRX.





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Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block

Akash Anand

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Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block
Source: Pixabay

Bitcoin SV [BSV] and its proponents have been making headlines over the past couple of weeks, either due to developments or because of comments made by its major proponents, Craig Wright, the chief scientist at nChain, and Calvin Ayre.

The network was also hit with several members of the cryptocurrency community alleging that the cryptocurrency itself is a sham without any use cases, as evidenced by its delisting on several popular cryptocurrency exchanges like Binance, Kraken and Shapeshift.

The latest news added salt to BSV’s wounds after it was revealed that the network went through another blockchain reorganization on a 128 MB block. This fact was pointed out by Nikita Zhavoronkov, the lead developer of Blockchair, who had tweeted:

“Whoops! $BSV has experienced yet another reorg, this time 6 (six!) consecutive blocks were orphaned (#578640–578645), this chain included a 128 MB block #578644 🤦‍♂️ The network was basically stuck for 1.5 hours, and this shows that even 6 confirmations are not enough.”

Orphaned blocks are valid blocks which are not part of the main chain. There are ways that they can occur naturally when two miners produce blocks at similar times or they can be a result of an attacker with enough hashing power using it for nefarious activities like reversing transactions.

A major reason why this reorg event made news was that a major 128 MB block was stuck in transaction, something that was not supposed to occur according to the initial claims made by the SV camp. Supporters of the cryptocurrency, however, have stated that despite being slower than promised, the transactions on the block settled faster than that on a Bitcoin Core block.



One supporter of BSV, mboyd1, tweeted:

“Orphaned blocks are a feature, not a bug”

To this tweet, Zyo, another cryptocurrency enthusiast replied:

“yes, but orphaning 6 blocks in a row is not good, that means that 6 confirmations is not safe. It’s a bug because the 100+ MB take way too long to propagate and validate. There is a reason why BCH doesn’t have [yet] 100+ MB blocks.”





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