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Cryptocurrency (Coins)

TRON (TRX): Cryptocurrency Coin Price, News, Justin Sun & Blockchain Updates



TRON (TRX Token) Overview

Described by one commentator as “a decentralized combination of Netflix, YouTube and the App Store,” the TRON (TRX) blockchain project is complex, ambitious in its reach and could well become a major player in the entertainment industry.

In a nutshell, TRON is rolling out an online entertainment blockchain where content creators can post their offerings for storage and purchase, with the entire TRON decentralized ledger accommodating said storage and distribution and payment for digital entertainment.

Both a platform and a digital currency, and similar to NEM and Waves, creators can also employ TRON to issue tokens upon releasing an offer. Importantly, TRX has an inbuilt ability to act as a transfer currency between platforms, tying into other entertainment platforms out there. The overall build is complex, detailed in innumerable directions and clearly very ambitious in its anticipation of becoming a go-to portal of online entertainment.

The TRON offer is a tremendous facilitation for producers, who can develop, store, share and invoice all on a single platform. Each of these aspects contain their own issues, but TRON is seeking to smooth them all by enabling convenient, one-click transactability across all aspects of the production and release of digital entertainment on its platform.

Mining of the coin is also ironed-out in-house, employing a technology called Positron. Built into the codebase, mining of the coin is set to be easier and more effective than, say, Bitcoin mining.

What Issues Face Producers of Online Content?

CEO and founder Justin Sun wants to address the loss of creator control users experience going through Google Play or other outlets. Not only that, the monetization of creators’ sites and content is an often varied and difficult route for many. In today’s marketplace, almost every snippet of monetized online content is funneled through the giants like Google, Apple, Youtube, Apple and Spotify.

Acting as intermediaries, these huge conglomerates skim off all of the videos, websites, blogs and music posted by creators. Providing the platform to host creators’ work gives them a unique advantage to profit from a percentage of all of the views, likes, clicks, streams and listens. More onerously, these entities maintain complete control over how much they’ll pay the producer.

The clincher is that along with such unseemly power comes their ability to censor and control anything they deem unsuitable to them, thus limiting creativity and exercising tight control over the online arena.

Such centralization of digital entertainment content as it currently stands is ripe for addressing with blockchain technology. With centralization, prices generally go up for end-users while control and revenue diminishes simultaneously for creators. Very much like banking becomes a one-sided affair, so the “non-profit” TRON seeks to prevent the same scenario in online entertainment.

The TRON Solution

Bringing the internet “to a decentralized state” is the aim of TRON, applying blockchain technology. By adopting an ostensibly non-profit structure, tron is enabling all aspects of online content great and small. There has been some controversy over the plagiarism alleged in certain sections of the original Chinese version of the TRON white paper. While the company has attributed this to misinterpretation or bad translation, it is also clear that there is some indecent haste in the rollout of TRON.

While it may be understandable that the company has adopted a marketing-first approach and is all bling and bravado – an approach that seems to be onboarding some keen and worthwhile players – it does reflect poorly on such a detailed and challenging concept and associated whitepaper that there are sections copied verbatim from other ICO whitepapers.

In the final analysis, it seems most reasonably that a contributor cut corners on the white paper and due to language barriers and separate roles, it slipped through unnoticed. Although it puts egg on the company’s face, it doesn’t appear to be a core corruption of their integrity and capabilities.

By way of user case study, a video producer may post a short video they believe has commercial value on the TRON network. Unlike having to operate within the strict content guidelines enforced by YouTube and other typical outlets, the producer is free to package his wares as he sees fit. He then uploads and advertises his offering on the TRON network.

He can sell views as snippets or the entirety of the video, having linked into social media platforms to publicize his offer too. On the network, his goods are stored, positioned, sold and invoiced for with an autonomy long ago lost on the regular channels. A truly one-stop shop for content creators, TRON manages to keep a creator within its network with zero stifling and unparalleled freedom of use. That the platform has addressed all possible needs of content creators enables the generation of a new ecosystem, the TRON platform rolling out across the globe.

The TRON Team

Having been approved by Singapore’s Accounting and Corporate Regulatory Authority (ACRA) and being subject to the country’s corporate regulations, the company has posted an outline of the company structure in its whitepaper.

Unusually for an ICO, there are no personal details of team members. Even the exact details for VCs as to how to access the ICO are not readily available, at least from company literature. We do know that the token sale commences on August 31, 2018 and ends on September 2, 2018. running on the ERC-20 token platform, 1 TRX will cost $0.0019. the fundraising target is $ 70,000,000. a total of 100,000,000,000 tokens will be minted, with 40 percent at play in the ICO.

The image below depicts some of the investors into the TRON ICO. A lot of these names are well known in the cryptocurrency industry which is part of the reason the TRON (TRX) ICO exploded out of the gates and continues to be a much talked about cryptocurrency online.

TRON TRX Conclusion

Although perhaps unusual in its presentation, the facts remain that the white paper is comprehensive, ambitious and – the clincher – TRON has access to around 10 million users of its Peiwo app. The company has a marked advantage in launching an ICO with such a large, established user base.The home market is massive and the projected potential reach of TRON even bigger.

The ICO is also indicative of a company incorporating amendments to issues faced by altcoins, their mining and application in the past. Perhaps most importantly, the TRON ICO will step into an existing and demonstrably profitable market at the outset, with a novel and appealing way of doing things. Many investors see the value, and uptake on the ICO is expected to be swift.

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Ethereum (ETH)

Ethereum Price Analysis: ETH Approaching Significant Support Area



Ethereum Price Analysis ETH Chart

There was another rejection noted near $265.00 in Ethereum vs the US Dollar. ETH/USD is currently declining and approaching towards a couple of important supports near $254.00 and $250.00.

Key Takeaways: ETH/USD

  • Ethereum price formed a short term top near the $264.4 level and declined against the US Dollar.
  • ETH/USD is currently approaching the $254.00 support and a bullish trend line on the 2-hours chart (data feed from Bitstamp).
  • Bitcoin price remains in an uptrend and it could accelerate gains above the $8,300 level.

Ethereum Price Analysis

Recently, bitcoin price gained momentum and broke the $8,100 and $8,200 resistance levels. However, Ethereum price failed to gain traction and formed a short term top near the $264.4 level.

Looking at the 2-hours chart, Ethereum price started a downside correction from the $264.41 high and declined below the $260.00 level. There was a break below the 23.6% Fib retracement level of the last rally from the $236.89 to $264.41.

Ethereum Price Analysis ETH Chart

Besides, there was a break below the $258.00 level, but the price found support near $255.00. Moreover, the price is approaching the $254.00 support and a bullish trend line on the 2-hours chart.

Below the trend line, the main support is near the $250.20 level and the 50 simple moving average (2-hours, purple). The 50% Fib retracement level of the last rally from the $236.89 to $264.41 is also near the $250.65 level to act as a support.

If there is a downside break below the $250.00 support, the price could extend losses and decline towards the $243.50 zone. The 76.4% Fib retracement level of the last rally from the $236.89 to $264.41 is also near $243.40.

Conversely, if the trend line support holds, the price is likely to start a fresh increase in the coming sessions. An initial resistance is near $260.00 and a connecting bearish trend line. A break above the $260.00 barrier might start a strong rally in Ethereum price above the $265.00 level.

Overall, ETH price is trading with a positive bias as long as it is above $250.00, and it could rise again above $260.00 and $265.00.

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Bitcoin (BTC)

Bitcoin Price Analysis: BTC Setting Up For Another Bull Run



Bitcoin Price Analysis BTC Chart

After a major decline, bitcoin price started a solid upward move above $7,750. BTC to USD gained momentum above $8,000 and even spiked above the $8,250 resistance area.

Key Takeaways: BTC/USD

  • Bitcoin price formed a strong support above $7,550 and recently climbed higher against the US Dollar.
  • BTC/USD broke the main $7900 resistance and a couple of bearish trend lines on the 2-hours chart (data feed from Bitstamp).
  • Ethereum, ripple, and bitcoin cash also gained momentum and moved into a positive zone.

Bitcoin Price Analysis

After testing the $7,500 and $7,520 levels on multiple occasions, bitcoin price finally started a fresh increase. BTC started an upside reversal after it successful broke the $7,600 and $7,850 barriers.

Looking at the 2-hours chart, bitcoin even broke the main resistance near the $7,900 level to move into an uptrend. Finally, there was a break above the $8,000 level plus a close above the 50 simple moving average (2-hours, purple).

Bitcoin Price Analysis BTC Chart

During the rise, the price even broke the $8,150 resistance and a couple of bearish trend lines on the same chart. A new swing high was formed at $8,266 and the price is currently correcting lower.

It broke the $8,150 level and the 23.6% Fib retracement level of the recent wave from $7,903 to $8,266. However, the price is currently finding a strong buying interest near the $8,060 level.

The 50% Fib retracement level of the recent wave from $7,903 to $8,266 is also acting as a decent support. The main support is near the $8,000 level and a connecting bullish trend line on the same chart.

Therefore, bitcoin price is gaining pace and it remains in an uptrend as long as it is above $7,980 and the 50 simple moving average (2-hours, purple).

On the upside, an initial resistance is near the $8,100 level and a connecting bearish trend line. A successful close above $8,100 might start a strong rise in the coming sessions.

The next major hurdle for the bulls is near the $8,250 level, above which the price might start a rally towards the $8,500 level.

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Price Analysis

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) Price Analysis June 10th



Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) Price Analysis June 10th

BItcoin BTC/USD Forecast

Last Friday the price of Bitcoin came up for interaction with the first significant horizontal resistance at $8140. As the interaction ended as a rejection the price was propelled in a downward trajectory and came down to the levels of the prior low at $7576 which was a decrease of around 6.7%. From today's open which was around the mentioned prior low level, the price has increased by 5.43% with strong bullish momentum as the majority of the increase occurred in only one hour but we are now seeing the price struggling to keep up the upward movement slightly lower then on the prior high.


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On the hourly chart, you can see that the price encountered resistance, indicated by the wick from the upper side of the last hourly candle and is now likely to keep interacting with the current level as it's retesting it for resistance further. If the price manages to keep up the upward movement we could see a breakout to the upside from the first significant resistance point and to the next on at around $8500.

This would be unlikely if the found resistance proves to be stronger then the currently seen bullish momentum as a rejection at the current levels would likely lead to a lower low below the one made on 5th at $7506. The price spiked to those levels on today's open but a proper interaction with a lower spike would likely occur if the increase was seen would be stopped out at the mentioned first significant resistance as it would mean that from last Thursday we have been seeing the development of the five-wave move to the downside out of the starting downtrend.

Litecoin LTC/USD Forecast

Last Friday the price of Litecoin increased by around 9.6% coming from $109.96 to $120.47 at its highest which has pushed the price above the first significant resistance level at the descending channels resistance. The price came down for a retest of support at the broken level over the weekend and as it found support it continued moving to the upside above the prior high level, coming to $126.8 at its highest point today.


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The price came above the 0 Fibonacci level which was the ending point of the prior high and above the next highly significant horizontal level at $122.32 above which it is considered to be the sellers' territory. I was expecting the price to start moving to the downside after an interaction with the first significant resistance at the descending channels resistance but as the price continued increasing further past the other significant resistance point we have likely seen the development of another five-wave move to the upside. As the move looks finished or near completion and especially considering that the price has entered the seller's territory I will be shortly expecting the start of the impulsive move to the downside.

Even though we have seen a five-wave increase I don't believe that its the starting upside wave, but is more likely the second correctional structure after the first one currently labeled as a WXYXZ correction ended. The price did make a higher high but this can also be seen on a corrective move usually ending as a running flat. If we are soon the see the start of an impulsive move to the downside the first significant support zone for the price of Litecoin would be at around $83 area.

Ethereum ETH/USD Forecast

The price of Ethereum has increased from today’s open at $228.8 by 6.59%, coming to $243.4 at its highest point today but has encounterd strong resistance there and is currently being traded slightly below those levels.


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On the hourly chart, you can see that the price came down over the weekend below the prior low at around the vicinitly of the 4th wave’s ending point from the previous upside move where it found support as the price immediately started moving impulsively to the upside again.

The rise has been stopped out at the previous horizontal support which now serves as resistance but since a breakout occurred to form the descending triangle which was formed from 30th of May we are likely to see the increase continue for a bit longer before the price continues moving to the downside again.

If the descending triangle was the first structure out of the starting downward move, the increase seen from today could be viewed as a correctional upside move in which case it cannot exceed the 258 level which is around half range between the last Thursdays high and today’s open.

Bitcoin Cash BCH/USD Forecast

Over the weekend the price of Bitcoin Cash has decreased by 8.2% as it came down from $409.2 to $375.6 at its lowest point. From today’s open around the mentioned low level we have seen an increase of 5.36% to $395.7 but the price has encountered resistance as the rise has been stopped out.


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On the hourly chart, you can see that the price decreased slightly above the last week’s low at $366.5 made on Wednesday which is why a lower low before the completion of the downward move would be expected if we are seeing the development of the five-wave move to the downside out of the starting downtrend.

If we are seeing the development of the 4th wave it cannot go above the $413 which the price interacted with over the weekend and found resistance there which makes this possibility higher. As the 4th wave is corrective in nature it could mean that today’s increase is still its development which we are to see from the currently encountered resistance interaction.


Over the weekend the prices have continued increasing to their first significant resistance point and have gotten rejected with the price going to the levels from which the increase was made. This movement could have been the end of the first wave from the starting downtrend but a more likely outcome would be that another lower low is coming before we see some major upside correctional movements.

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