Posted on

Bitcoin Price Hits New High Close to $9,000, Eyeing $10,000 As Next Step

Bitcoin has spiked to the highest mark this year so far, continuing the bullish trend that has doubled BTC quotes since the start of the spring

As the new weeks begins, Bitcoin price soars 10% from where it got at the end of Friday. As per Bloomberg, Bitcoin was trading at $8,847 during the Tokyo session at 10.25. Currently, the BTC price is slightly down, with the major currency sitting at $8.696.

The crypto market enjoys the sea of green

Following Bitcoin, other digital assets are
also pumping. Ethereum is up slightly more than 7%. Ripple’s XRP is holding at
its recently achieved high of $0.4 and seems to be aiming higher.

The biggest gainers here so far are Litecoin, which is up over 10%, Tron, showing a nearly 14% appreciation, and Bitcoin SV being nearly 17% high.

Reasons behind the BTC rise

The crypto market seems to be inspired by the recent major news about mainstream institutional investors showing their interest in Bitcoin as well as other crypto. Fidelity Investments now, reports Bloomberg, is at the final stage of launching its crypto trading service for corporate customers. As well as E*Trade Financial Group that is also about to start crypto trading.

The US telecommunications giant AT&T recently announced its intention to let customers use BitPay for paying their phone bills.

Bitcoin has so far climbed nearly 70% in May, even though analysts of JP Morgan announced that Bitcoin may be trading above its intrinsic value. This news was taken positively by Mati Greenspan, the chief eToro analyst, who was glad that the banking giant has finally admitted that BTC and intrinsic value can actually go together.

In his note to customers he wrote on Friday:

“Easier to spend means a greater-use case and a greater level of adoption. The tipping point is likely very close now.”

Next target for Bitcoin price

The bull run of Bitcoin price in 2019 has followed a year-long crypto winter last year which has seen many retail and institutional investors turn away from the crypto market in disappointment. Many retail investors lost it all when the market collapsed at the start of 2018, since they bought crypto with all their savings, ignoring the major investor’s rule – to invest only what you can afford to lose.

The CEO of Block magazine, who is known in Twitter as @CryptoGodfatha, believes that since Bitcoin has managed to get over $8,300, the next target it goes for will be the $10,000 mark.

Photo by Dmitry Moraine on Unsplash

The post Bitcoin Price Hits New High Close to $9,000, Eyeing $10,000 As Next Step appeared first on Ethereum World News.

Posted on

TRON Supports Crackdown of Gambling DApps in Japanese Markets

TRON TRX Gambling DApps Japan

TRON, the eleventh largest cryptocurrency by market capitalization and one of the leading networks for Decentralized Applications, has announced support for the removal  of gambling DApps from Japanese marketplaces, and suggests that developers steer away from creating new ones.

According to a publication by the TRON Foundation, the network-based cryptocurrency heavily implied that it would support the removal of currently gambling DApps in addition to encouraging developers to avoid promoting gambling material in Japanese markets where laws prohibit such actions. The move comes following pressure from Japanese regulatory agencies over the presence of the cryptocurrency-backed gambling applications.

TRON, which accounted for 30 percent of new DApp creation in January 2019, reports that it has a responsibility to both promoting blockchain technology and the industry of DApps, while upholding local laws and regulations. Accordingly, the Foundation issued new guidelines for applications launched in Japanese market, specifically stating that it would conform “strictly” to the relevant laws and regulations.

Among the new guidelines, TRON makes it clear that the platform will not “encourage or recommend any gambling DApps regarding the Japanese market,” and that the company suggests “Japanese DApp developers not develop any gambling DApps on TRON’s platform.” The TRON Foundation also issued a plea to current developers to avoid publishing any gambling-based DApps through Japanese IP addresses–giving some indication of an alternative for continuing their development–while also stating an intention to collaborate with the Japanese government regarding how the TRON network may be violating current laws and regulations.

While the decision by TRON represents a diplomatic move to comply with existing laws, it also owes to the growth of the network in an abbreviated period of time. Despite launching in the latter half of 2017, TRON’s network has scaled to challenge even that of Ethereum, with Bloomberg running a recent piece on the waning market share for ETH in the face of TRX and EOS.

However, some community members–particularly cryptocurrency diehards–will find disappointment in the TRON Foundation’s announcement to adhere to local regulations. TRON’s network follows the same by-lines of decentralization as cryptocurrencies, which provides a level of freedom some would hope to see operate separate from the influence of political organizations.

Nonetheless, the TRON Foundation walked a tight line between making nice with Japanese government authorities and still appealing to the decentralized development of their network. As opposed to initiating an effort to remove gambling DApps–which would be difficult from the standpoint of a decentralized network–the Foundation merely appealed to its development base to comply with their local laws and guidelines.

As of writing, the price of TRX is up over 4 percent, outpacing the slight slump in value for top cryptocurrencies after the weekend rally. Some investors may be reacting to several news articles floating the web in relation to TRON Founder Justin Sun, which have suspiciously gained traction on April Fool’s Day.

The post TRON Supports Crackdown of Gambling DApps in Japanese Markets appeared first on Ethereum World News.

Posted on

TRON Gaming Should Lead the Way for TRX in 2019

Cryptocurrency, TRON (TRX)–With the crypto markets showing a moderate amount of price stability in the final week of 2018, after falling nearly $700 billion in market capitalization throughout the year, coin projects are consolidating and focusing on growth for 2019.

TRON, in particular, is in the position to expand beyond its current limitations through the industry of gaming.

Since first gaining traction through a strategic partnership with blockchain gaming portal Game.com, the TRON Foundation and the TRX currency have been the premier project for advancing the interest of gaming through cryptocurrency. The white paper for TRON, while controversial and criticized, outlined the project as a platform that would tackle the landscape of digital entertainment, with gaming being one of the more prominent and approachable avenues for cryptocurrency to infiltrate.

The potential for TRON gaming increased midway through the year, with the announcement that TRON founder Justin Sun had acquired BitTorrent in a wholesale purchase of Rainberry, Inc., giving the budding TRX Main Net access to the 170 million user base affiliated with the filesharing service. While BitTorrent is not as direct of a route to gaming as the Game.com partnership, it does present a significant overlap in consumer bases, with the torrenting crowd finding a like-minded interest in the decentralized money of cryptocurrency. Project Atlas, which is being designed to further integrate BitTorrent on the TRON platform while providing greater incentive for torrenters to participate on the network, could also deepen the relationship between the two platforms.

However the announcement of TRON Arcade, as reported by EWN at the end of November, gives a clear indication of the direction for the TRON Foundation in next year and beyond, or at least provide some focus for the currency’s development and investor base. According to the press release at the time, the TRON Foundation will be paying out $100 million over the next three years to spur innovation in blockchain gaming on the TRON platform, while also providing a strong incentive for gaming developers to integrate TRX into their creations.

Justin Sun characterized the announcement as “crucial” for the growth of the currency and crypto gaming, going on to expand upon TRON’s role in the broader sphere of digital entertainment,

“TRON strives to tackle existing issues faced by the gaming industry by leveraging the open, transparent, and immutability of blockchain technology. TRON Arcade will play a crucial role in encouraging developers to join in our mission and provide the best blockchain gaming experience to users around the world.”

With the market still reeling from the deep bear correction of 2018, gaming provides an outlet for TRON to hinge upon and expand in the interim period of recovery. The TRON Foundation and Justin Sun may seek to tackle the megalith of digital entertainment, but with gaming, it may not be necessary to reinvent the wheel. TRON only has to find a way to improve upon the current landscape through the TRX coin in order to incentivize greater investment interest and development for the coin. E-sports, in particular, are projected to surpass $1 billion in global revenue next year, showing an industry that is both experiencing explosive growth and ripe for the input of a technology like crypto.

The post TRON Gaming Should Lead the Way for TRX in 2019 appeared first on Ethereum World News.

Posted on

One Week Away from TRON (TRX) ‘Secret Project’ Announcement

TRON (TRX)–On July 30th, TRON will reveal its long-anticipated ‘secret project’ that will mark the next step in TRX growth and innovation.

In June, during a celebration live-stream to commemorate TRON’s Independence Day (the official diversion of the TRX genesis block away from its ERC-20 roots), Justin Sun tantalized fans and investors with news of a ‘secret project’ that would be coming at the end of July. While the conversation was framed in praising the TRON development team for delivering on its promises and meeting deadlines, Sun also touted July 30th as a substantial date in the growth of the TRX currency.

“I think one of the most important values of Tron is we delivering our products and mission on time. So as you see, we delivered our testnet on the March 31st, our mainnet on may 31st, and officially are launching our mainnet on June 25th. The next very important milestone is July 30th- we will deliver our official virtual machine. All the decentralised exchanges and applications on the Tron platform are plugged into the Tron ecosystem. July 30th we will launch one of our secret projects

Much like the Exodus update in March, which saw the launch of TRON’s test net, and the official release of Main Net in June, TRON has been characteristically prompt on achieving deadlines and following through with development outlines. TRON Virtual Machine, which Sun mentioned would accompany the release of the mysterious project news, first saw its alpha version launch on May 25th, just days ahead of Main Net. TVM, which the TRON Foundation has described as a “cornerstone of [the] TRON ecosystem,” will provide a protocol for user-friendly blockchain generation that will drive new coin creation on the TRON Main Net and paving the way for smart contracts (in addition to contributing to the TRX coin burn system).

TRON Virtual Machine (TVM), is a lightweight, Turing complete virtual machine developed for Tron’s ecosystem, aimed at providing millions of global developers with custom-built blockchain system which is efficient, convenient, stable, secure and scalable.

While Sun has been quiet on any hints surrounding the TRX-based secret project to be announced next week, there are a few avenues worth speculating. The most obvious concerns the high profile purchase of BitTorrent for $140 million by Justin Sun, a deal that started at the beginning of the year and was only finalized last month.

While it’s possible Sun’s intends to keep the 170+ million BitTorrent user-base separate from TRON, it seems more likely that the outspoken founder will find a way to integrate the service onto Main Net. Monday’s reveal could be information on the merger of the two products, or at least the introduction of torrenting or torrenting-like features onto TRON’s recently established network. Keep in mind that Sun, the TRON Foundation and TRON whitepaper have outlined the currency as a technology to disrupt the modern entertainment industry. While the roots of such a claim are not in the malicious pirating of media, it could still find substance in the peer to peer file sharing function of torrenting, as well as providing immediate use for participants on TRON’s network.

loading…

Posted on

What Could a BitTorrent Merger Mean for TRON (TRX)?

TRON (TRX)–On Monday, Variety broke the news that TRON founder Justin Sun had finalized his purchase of BitTorrent Inc., the parent company behind popular torrenting platform BitTorrent. While Sun has yet to make an official comment upon the purchase, or even hint that torrenting may find its way to TRON’s newly launched Main Net platform, it’s more than plausible at this point to assume some crossover of the two is imminent.

Let’s look at some of the facts. News of Justin Sun purchasing BitTorrent dates all the way back to January 2018 (including a lawsuit against the parent company over allegations of foul play), which occurred just as TRX was reaching a 20 billion USD market capitalization and an all time high in pricing. Given the outspoken nature of Sun, it’s possible this was another marketing stunt to draw greater attention to TRON, thereby pumping the value of both entities. It’s also possible that the founder was looking to pivot at the top, selling out his position in TRX at a peak to move into a more stable position through torrenting. However, Sun’s multi-billion TRX stake in TRON is supposedly locked alongside that of the TRON Foundation, to be spent only on maneuvers like Project Genesis, a 2 billion USD fund for Main Net development and incentives.

Therefore, it seems unlikely that Sun would have cashed out in January, despite allegations of doing so, to purchase BitTorrent. Instead, he likely saw an opportunity in the torrenting client that would pair with the coming implementation of TRON’s Main Net. Remember that TRON, unlike other transaction-based currencies such as Bitcoin and Ripple, is attempting to build a platform to reinvent the digital landscape of entertainment media. Torrenting is one avenue the company could pursue (in conjunction with the already established partnership through Game.com). The utility of TRX on Main Net makes the coin a likely companion to torrenting.

The decentralized ethos of cryptocurrency has always held a fair amount overlap with that of peer to peer file sharing through torrents. TRON, with the advent of Main Net, has established a platform that is capable of handling 10,000+ transactions per second. In addition, transactions consume a minuscule 0.00001 TRX, meaning an entire lifetime of TRON-based transactions could be paid for with a single token. It’s possible that Justin Sun could be gearing up for the introduction of torrenting on Main Net, via the BitTorrent client, that uses TRX micropayments as a form of delivery. While the service would be an added layer over the current free iteration of the BitTorrent client, it could come with the added benefit of cryptocurrency to entice a larger user base.

At the very least, BitTorrent would drive the sort of attention that TRON is desperately in need of following the post-hype period of Main Net launch. TRON was able to successfully transition away from the crowded ERC-20 space on Ethereum’s network, but has yet to experience the price appreciation that would accompany such a significant step forward for the currency. While the entire cryptomarket has been in decline over the last two weeks, TRON has barely appreciated a percentage point following the official launch of Main Net. News of a merger between TRON and BitTorrent would reinvigorate investor interest in addition to building upon the confidence inspired by community projects like Genesis. Sun and the TRON Foundation could be waiting for the opportune moment to announce such a partnership. But for now, the investor base is left waiting on news of the TRX founder’s most recent acquisition.