All the coins look green as the cryptocurrency market is on a bull run. Bitcoin gained 0.61% in the last one hour and at 11:53 AM UTC, was seen to be trading at $8499.34. The coin had crossed the $8500 today and it peaked at an intraday high of $8522.50 at 11:29 AM UTC.
The coin was trading at the $8300 levels and it shot up to cross $8500 mark within a matter of an hour. The market capitalization of the coin also shot up from $141 billion levels to $144 billion levels at press time. The total market capitalization was also seen to have hiked at 12:03 PM UTC and was seen to be $374.100 billion.
Analysts are of the opinion that if the current market trend continues, the market capitalization would cross the $400 mark by the end of this month. Ripple [XRP] still continues to be the day’s biggest gainer with 20.71% gain during the last 24 hours.
The segment called sentiment analysis is carefully structured after interviewing a group of analysts, investors, skeptics, miners, influencers, and thereby recording their valuable comments. This group includes experts from around the world who has given their opinion on the current market trends and the possible outcomes of the coins.
These comments and opinions are recorded as it is in this segment to ensure that our readers get a comprehensive picture. This analysis is focused on TRON [TRX] which is currently at the 14th spot in the rankings according to coinmarketcap.com
TRON was seen to have crossed the $0.05 mark for the first time since the early days of March. At 12:12 PM UTC, TRX was seen to be trading at 0.051 with a market capitalization of $3.335 billion. The coin has had a gain of 3.62% and a volume of $401 million in the last 24 hours. The coin went down to a swing low of $0.048 which is the lowest since the gain on April 19. This loss was reversed soon after that.
There is a short-term bullish trend waiting in line for the coin and if it manages to hold on to the support it may go up soon. However, in the long term picture, there is a chance for a bullish momentum to kick in or to go down. For now, according to chart interpreters, prices may look to consolidate above the $0.050 mark.
Cody McCullum, an Economics researcher from New Castle says:
“Staying above the $0.050 mark is crucial for the coin so as to reach the targets. There is support at $0.048 for the coin which was the previous low and the resistance is formed at $0.06 which should the coin’s next target. If this resistance is broken then the coin will move up to $0.76.”
Frank Welsh, an altcoin enthusiast from Colmar says:
“The immediate targets set for TRON are at $0.076 and at the $0.085. The coin punched right through two retracements and the trend is bullish. In order to rally higher the coin need to break the price projection. There is a bat formation for the coin with two possible target formations. One is at $0.051 and the next is at 0.073.”
Brendon White, a software developer from Queensland says:
“TRON was seen to be trading around $0.04 for a long time and it finally broke away from the downtrend channel. Now the coin looks steady and has a good momentum. I hope that this 0.050 level won’t be another place where TRON decides to take a nap.”
To conclude, 56% of TRON respondents feel bullish as the coin broke the resistances and has been moving up. They feel that the bulls are in favor of the coin and it will take it higher. Another 44% of TRON respondents feel that the present times won’t be bullish for TRON but in the future TRON will emerge as the winner.
76497|Tron-based USDT: Huobi Global, OKEx and Gate.io announce support for new TRC-20-based Tether
Tron Foundation’s relentless push for mass adoption received a major boost recently when Justin Sun, the Foundation’s Chief Executive Officer, announced their partnership with Tether [USDT] to create new stablecoin. The partnership would essentially bring USDT on the Tron blockchain, making transactions faster and free-of-cost, while also improving the use-cases of the stablecoin.
Three major exchanges have now announced support for the Tron-based version of Tether, further bolstering its position in the market. Singapore-based exchange Huobi Global, Malta-based exchange OKEx, and Gate.io, a blockchain assets exchange platform, announced in separate press releases that they will be supporting the new version of Tether.
The TRX-USDT partnership was announced in early March in an effort to bring in a TRC-20-based USDT into the crypto-market. The ‘improved’ coin would stick to the technical token standards maintained by the Tron blockchain and would be interoperable with all Tron-based DApps and protocols.
In their respective press releases, Huobi Global and OKEx stated that the decision was fueled by strong user demand for inclusion of a full-spectrum of stablecoin trading. The exchanges also made it clear that there would now be three different protocol versions of USDT on their platforms: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20, and the new USDT-Tron.
Though the exchanges are some of the world’s largest in terms of trading volume, Tron Foundation had earlier said that the TRX-USDT version was made primarily for Tron-powered Decentralized Exchanges [DEX].
Recently, Tron Foundation also announced an incentive scheme exclusively for TRX-USDT holders. The $20-million incentive plan included the addition of a 20% initial Annual Percentage Rate [APR] for holding the cryptocurrency, which was significantly higher than its prime competition, the USDT-Omni. The plan also announced a scheme spanning over 100 days where USDT-TRX holders would be rewarded more USDT-TRX.
Tron’s DApp program and BitTorrent Token [BTT] launch also saw huge success this year, leading to a temporary surge in the token’s price before a bearish market ensued. On March 17, TRX registered a transaction volume that was five times more than the cumulative transaction volume of its closest competitors ETH and EOS. The transaction volume during this move was recorded to be over $100 million.
76476|DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum
The cryptocurrency market was punctuated by several altcoin surges this week, with Tezos and Ontology leading the charge. The latest entrant to ride the bull wave was DigiByte, the 35th ranked cryptocurrency on CoinMarketCap. It climbed up the charts to become the biggest gainer in the top 50.
At press time, DigiByte [DGB] was trading at $0.015, and was rising by 9.72%. The cryptocurrency held a total market cap of $169.073 million with a 24-hour trade volume of $3.091 million. A majority of the trade volume was split between BiteBTC and Bittrex, two popular cryptocurrency exchanges. BiteBTC recorded DigiByte transactions worth $1.156 million, while Bittrex recorded $315,308 worth of DGB trade.
The 24-hour chart showed the cryptocurrency’s value shooting up, before settling into sideways movement. DGB’s value surged from $0.0126 to $0.0144, in under an hour. It was speculated by many online that the addition of DigiByte on Magnum Wallet, and its latest release, the Magnum Notifier Bot, was what sparked the DigiByte surge. The bot is a free-to-use Telegram bot which notifies the user when the connected wallet participates in any transactions. The bot also gives DGB holders all transaction related information.
DigiByte was also helped by its community starting a new online campaign requesting Coinbase CEO Brian Armstrong to add DGB to its fold. Frederik Bf67, a Twitter user, and a DigiByte fan tweeted:
“Hello Brian, i would love to see @coinbase adding @DigiByteCoin to it’s platform. You know #DGB has been around for a long time and has proven itself over time to be a highly secure and fast blockchain with exellent use cases suported by thousands of people on every continent.”
Another DigiByte fan, Mark Brown replied on the same thread saying,
“Tell that to @barrysilbert , he’s the one to talk to brother 😏
@brian_armstrong and @AsiffHirji can do so much. It’s out of their hands.
I’ve even helped pass along a petition and nothing. I’ve gotten over 10k signatures to have #dgb added to #coinbase and nothing.”
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