TRON (TRX) Price Slipping Despite TVM and BitTorrent Addition

TRON (TRX) Price Slipping Despite TVM and BitTorrent Addition
фото показано с : ethereumworldnews.com

2018-8-3 00:51

TRON (TRX)–As the cryptocurrency markets continue to shed billions of dollars, TRON is the latest coin to suffer from a decrease in value despite positive development for the project.

TRON Combining Cryptocurrency and Torrenting

Last week, the TRON Foundation dropped a bombshell of an announcement that the cryptocurrency would be partnering with one of the world’s most popular torrenting services: BitTorrent. While the news was anticipated ahead of the official confirmation, considering Justin Sun has been tied to the purchase of the peer-to-peer file sharing service since early January, it represented a milestone for the project in terms of what the coin’s community could anticipate on Main Net.

Proud to announce @BitTorrent and @uTorrent are now part of the #TRON family. BitTorrent is supported by over 100M active users. Together we are building the future of the decentralized Internet! Stay tuned for updates #TRONBT $TRX @Tronfoundation https://t.co/mQQqUeOaHv pic.twitter.com/eSYY4lWsXI

— Justin Sun (@justinsuntron) July 24, 2018

While most of the TRON community appreciates the official announcement linking the cryptocurrency to Sun’s purchase of BitTorrent, the market has yet to reflect the acquisition in terms of value. Despite adding over 170+ million users via the decentralized, file sharing application, investors have not flocked to TRON in the way such a high profile merger would seemingly constitute. Instead, TRON’s price has continued to fall with the majority of the market, seeing only a modest bump in price following last week’s announcement, which has already been eroded by the price fall of the last several days.

In addition, TRON’s update of TVM, the TRON Virtual Machine to assist in the creation of smart contracts and independent blockchains, has had little impact upon the price. Despite accompanying an announcement on Monday of Project Atlas, a proposed improvement of TRON’s Main Net to function more efficiently with BitTorrent, the positive development action out of the coin is seeing little reflection in market value.

While most investors in cryptocurrency, particularly those who invest in projects they hope to hold long-term for appreciation, have grown accustomed to the inverse price movement accompanying new development, it does characterize 2018 as a more bizarre year for cryptocurrency. Despite the tanking value of the industry’s market capitalization, 2018 has far and away been a massive year in terms of crypto development and new adoption–across the board of many coins.

Erratic Market Valuation

Given the reckless investing that capitalized the final quarter of 2017 and opening weeks of this year, total industry fatigue may be leading to investors having less concern over what projects are improving or forming new partnerships, and instead create the conditions for a massive exodus to try and catch the market cap bottom. Bitcoin has continued to hold its sway over industry price movement, with a small rally forming in response to anticipation over an SEC approved ETF. However, following last week’s dismissal of a bid by the Winklevoss twins to form a BTC ETF, the market has taken a decidedly negative stance on crypto in the short-term, again contributing to Bitcoin-imposed volatility on the industry.

Despite the lack of return on value for TRON and TRX investors, the infusion of BitTorrent onto the currency’s network can only be beneficial for the long run. While 2018 represents the piquing interest for crypto projects and blockchain, the latter half of the year and next might transition into a search for legitimate reasons to use crypto. Sun and the TRON Foundation have yet to outline their plan for torrenting on the cryptocurrency’s platform, but  they have proposed an intention to incentivize participation. Given the substantial overlap between crypto and torrenting, it seems like there is legitimate room to grow via the BitTorrent merger. 

The post TRON (TRX) Price Slipping Despite TVM and BitTorrent Addition appeared first on Ethereum World News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

TRON (TRX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1171
Капитализация $0 Rank 99999
Цена в час новости $ 0.0326502 (-100%)

tron cryptocurrency despite trx addition slipping price

tron cryptocurrency → Результатов: 104


Tron beats Ethereum; surpasses the Vitalik Buterin-led cryptocurrency’s number of daily transactions

Tron, the 11th largest cryptocurrency in the market, has been in the news multiple times recently because of the sheer number of updates and developments from the company. Justin Sun, Chief Executive Officer [CEO] of the Tron Foundation, has been one of the driving forces behind Tron’s momentous run, with the cryptocurrency beating out its competitors […] The post Tron beats Ethereum; surpasses the Vitalik Buterin-led cryptocurrency’s number of daily transactions appeared first on AMBCrypto.

2019-7-1 14:00


Фото:

Tron’s [TRX] node count reaches its highest level in months after jumping by 250 in a few days

The cryptocurrency market was taken aback by the Bitcoin [BTC] hack that cost the world’s largest cryptocurrency exchange, Binance, 7000 BTCs. The crypto community came together to support Binance and among these supporters was Tron Foundation’s CEO and Founder, Justin Sun, who pledged to deposit USDT worth 7000 BTC, equivalent to $40 million.

2019-5-9 18:00


Digital Asset Research (DAR) Claims TRON has Plagiarized Code, Justin Sun Responds

Has Justin Sun of Tron Committed Plagiarism? Here’s His Answer… Virtual research specialists at DAR discovered something shady happening inside Tron’s source code. Developers at the company found some unfortunately distinguishable lines of code inside the platform that were also found in other cryptocurrency codes. Plagiarism is looked down upon in crypto as much as […]

2018-7-31 22:10


BitTorrent Inc. Officially Confirms Acquisition by TRON Foundation

In May, TF broke the news that Justin Sun, the entrepreneur behind the popular cryptocurrency TRON, was in the process of acquiring BitTorrent Inc. The San-Francisco based file-sharing company confirmed the interest from Sun and while details leaked here and there, there was no official confirmation from the parties involved. That changed today. This morning […]

2018-7-25 03:50


Фото:

Justin Sun Officially Adds 100 Million BitTorrent Users To Tron (TRX) Ecosystem

No doubt, Tron (TRX) is one big coin that cannot be rubbished in the cryptocurrency space. After Justin Sun announced that Tron would be moved out of Ethereum Network, the cryptocurrency war lord, declared on the go that there is going to be a huge competition between the two altcoins, like that which existed between […] The post Justin Sun Officially Adds 100 Million BitTorrent Users To Tron (TRX) Ecosystem appeared first on Ethereum World News.

2018-7-24 14:20


Consecutive Losses for Tron [TRX] – Price Outlook Changes From Bullish to Bearish

For much of 2018, there has been a reoccurring trend in the crypto markets. When Bitcoin falls, altcoins fall but fall further. When Bitcoin rises, altcoins rise but rise higher. However, for much of 2018 the crypto market has been in a downtrend, and last week when Bitcoin blasted through $6850 as noted here, this […] Consecutive Losses for Tron [TRX] – Price Outlook Changes From Bullish to Bearish was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-23 20:01


Фото:

Justin Sun Bids to Become Tron Super Representative; Reddit All Fired Up for His Election

Tron, China’s very own cryptocurrency, has been shrouded in an air of mystery. Called a scam by some and a genuine token by others, there is no doubt that the project is unique in many ways. Highlighting one of Tron’s most distinctive characteristics — the Super Representative program — founder Justin Sun has announced his […] Justin Sun Bids to Become Tron Super Representative; Reddit All Fired Up for His Election was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-19 19:34