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Tron [TRX]’s listing on CoinSwitch reaps rewards, daily trade volume at $1 million

Akash Anand

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Tron [TRX]'s listing on CoinSwitch reaps rewards, daily trade volume at $1 million
Source: Unsplash

On 23rd August, Justin Sun, the Co-Founder of the Tron Foundation, announced that the TRX token can now be traded on CoinSwitch. He also stated that the daily trading volume on the cryptocurrency exchange aggregator has been reaching a total amount of $1 million during the course of 2018.

Post the announcement, Aayushi, a CoinSwitch employee tweeted:

“Thank you @justinsuntron for tweeting about our platform @coinswitch, we have 300+ cryptocurrencies listed on our platform, and we aggregate leading exchanges like @ShapeShift_io @Changelly_team @ChangeNOW_io @kucoincom @BittrexExchange @hitbtc @Aurora_dao etc.”

CoinSwitch is a single platform to trade cryptocurrencies across all exchanges at the best prices with support for more than 300 currencies and 6000 currency pairs, which is one of the highest in the world.

Gabriel Kawa, a Tron follower says:

“It shows how serious they are about being the best and to grab people’s attention. Tron [TRX] always brings more value to the Blockchain, the most promising coin of the year.”

The comments were not all that supportive, with Robert, a Twitter user commenting:

“It means they know they’re overvalued and need to backpedal to better justify their inflated cap. The fewer coins in circulation, the higher the price per TRX. Burns like these happen so that the price increases, to a) keep people excited and b) more easily justify to the holders their huge market cap in the face of no actual product.”

It is the first ever aggregator for altcoins and cryptocurrencies with an integration of multiple leading exchanges globally. According to their latest announcement, they are now supporting Tron [TRX] on their platform for purchase and released a step by step guide describing the entire procedure.

At the time of writing, Tron was at the 11th position on the cryptocurrency charts and was trading at $0.02. The TRX token had a market cap of $1.319 billion with a market volume of $87.147 million. Tron was subject to the bearish market seeing a fall of 5.38% in the past 24 hours.



Maria Jams, a TRX holder stated:

“Finally! After 250 coins, TRX is added. Why did I even buy this useless coin? Total regrets but helplessly I shall Hodl for a little more while.”

SugoshB, a cryptocurrency enthusiast tweeted:

“Well Done CoinSwitch, you are amazing, keep doing big things so u don’t lose your spot. I don’t think anybody can even come close to your achievements and accomplishments. Such a leader and a set right example. I am very satisfied and convinced your platform usage. Haven’t had any major issues until now, so thumbs up!”





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Bitcoin

Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator

Priya

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Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.



“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.





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