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Tron [TRX] rises in the charts as Justin Sun-led cryptocurrency becomes biggest gainer in the top 20

Akash Anand

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Tron [TRX] rises on the charts as Justin Sun led cryptocurrency becomes biggest gainer among top 20 club
Source:Pixabay

Tron’s [TRX] price resurgence was evident since it was one of the few cryptocurrencies that showed upward price trends on the one hour and one day charts, at press time. The Justin Sun-led cryptocurrency saw another price hike on 23 March, making it the biggest gainer in the top 20 cryptocurrency club.

Source: CoinMarketCap

At the time of writing, Tron was going up by 6.37% and was trading at $0.0242. The cryptocurrency held a total market cap of $1.615 billion, with a 24-hour market volume of $263.862 million. A majority of the market volume was shared between Bit-Z and Huobi Global, two popular cryptocurrency exchanges. Bit-Z witnessed Tron transactions worth $22.847 million, while Huobi Global recorded $20.829 million in TRX trade.



Source: CoinMarketCap

Tron’s price shot up from $0.0229 to $0.0243 in the space of two hours, forming an almost perpendicular spike on the chart. Some speculate that Tron’s sudden rise was due to the Tron-USDT support announced by Huobi Global and OKEx. Huobi Global had announced,

“To meet users’ multifaceted needs for stable coin trading, Huobi Global is going to support the TRC20-based USDT (USDT-TRON) launched collaboratively by TRON and Tether. At that time, Huobi Global will support USDT of three forms: USDT-Omni, USDT-ERC20 and USDT-TRC20(USDT-TRON).In the future, Huobi Global will also cooperate with TRON for the airdrop to USDT-TRON holders. The details will be noticed via announcement, please stay tuned!”

The Tron-USDT partnership put Tron back in the limelight following the advantages and benefits listed by Justin Sun and the Tron Foundation. Sun had previously said that the latest partnership will “blow the Omni-USDT partnership out of the water.” He also focused on the low transactions fees incurred by the USDT-linked TRX token.





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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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