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Is TRON [TRX] the next 10x coin? – Market sentiments revealed!

Sthuthie Murthy

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TRON [TRX] - Strongly holding its spot among the top 15 coins
Source: Public Domain Pictures

TRON was seen amongst the top gainers in the crypto market this week increasing by 18.36% in the last 7 days with a market cap of around $3bn.

The main idea behind TRON’s blockchain technology is to “heal the internet” by constructing a worldwide free content entertainment system. This allows users to freely publish, store and own data, enabling them to own the rights to their content and make decisions about when, how and at what cost to share it.

In the digital entertainment world, TRON is a new kind of distributed system. It includes everything from streaming video to online gambling to social networks. Here the users themselves own the economy as Justin Sun, the creator of TRON wanted it to be.

Twitter username Wolf of Crypto, a Crypto investor, and a TRON enthusiast says:

“Just talked to a guy into crypto and he called Verge and Tron shitcoins. I just laughed, went home and bought more of both.”

TRONIX is the Cryptocurrency running on TRON which also supports other currencies in service of the distributed economy.

Justin Sun, the founder of TRON had announced a few days ago, the main net of TRON will be launched in advance. TRON supporters are delighted about the advance launch while some are skeptical about how the tech team will accelerate the development progress and the launch.

In a recent interview, Lucien Chen, the tech director of TRON, said:

“We graded all functions according to the priority analysis of user needs. The main net launching in May will have all high priority functions. Functions with lower priority will be deployed later in the form of version upgrades.”

Lucien Chen claimed the release date of test net will be March 31st with full functionalities.

Justin Sun, the former chief representative for Ripple is the founder of TRON which is amongst the top 20 coins in the crypto market today. With an average daily turnover of $3 million, nearly 50 thousand people own TRON worldwide.

Kevin, a Twitter user and a market observer stated:

“At 5 cents, this coin is a STEAL!! Easily a top 5 coin for 2018 with 20x gain or probably more. TRON, top 5 highest volume alt coin, on major exchanges, and has all the ingredients to be on Coinbase and GDAX in the near future. TRON to the MOON!

Despite the weekly gain, there has been criticisms from inside the TRON community against Justin Sun and Tron Foundation’s comments regarding alleged “paid” coverage of the Tron Main Net release covered by Reuters and Yahoo Finance as “exclusives”

Dan Holley a Twitter follower says,

“You know these are paid press releases, right? Tantamount to purchasing ad space”

Comments regarding the "Paid" release published as "Exclusives"

Comments regarding the “Paid” release published as “Exclusives”

Jonathan Wong, a veteran Forex and cryptocurrency trader says,



“TRON is a good token with potential but I don’t think 10x in the near future unless coin burn happens”

Francis Young, a cryptocurrency investor says,

“Everyone promises the moon with TRON, I hope the moon is real. Invested in big and holding. The team looks strong, everything seems right. Just waiting for the pump (not the dump kind)”

Despite TRON’s unnecessary buzz, market analysts believe the real value in the TRX team is their tech addition and the announcement of the Tron main net which will remove the ETH dependancy. There have been questions about the apparent “coin burn” which was expected soon. The Main Net release, coupled with a ‘good’ Bitcoin market would be the ideal environment for TRON.





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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