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Waqas Sattar

BitMEX undergoes investigation by the US Regulator CFTC, revealed Bloomberg

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According to the recent news reported on last Friday by Bloomberg’s columnist Tim Culpan, BitMEX, one of the prominent Bitcoin margin trading exchange based out of Seychelles, is undergoing investigation by the US regulator CFTC, the Commodity Futures Trading Commission. The suspicion is whether the exchange has allowed the citizens of the United States to use its platform for trade, in point of fact that it is not registered with the agency.

The US regulator, CFTC considers digital currencies like Bitcoin as merchandise and to trade with these merchandise in the country; one needs to get registered with the agency. An investigation has been commenced, which could take months-long of time to evaluate whether any rule has been broken by the exchange, said by an insider who asked his name to be kept private. It is to be noted that the investigation has not been made public yet by the regulator.

When asked for comment about the supposed investigation from the exchange’s authority, a spokeswoman of the exchange maintained that they are not obligated to speak about any unofficial investigation against them by any government agency. In her own words:

“HDR Global Trading Limited, owner of BitMEX, as a matter of company policy, does not comment on any media reports about inquiries or investigations by government agencies or regulators and we have no comment on this report.”

The CEO of BitMEX, Arthur Hayes, however, shed light on the exchange’s policy, during an interview in January, to remove any individual who contempt with the company rules barring US nationals and residents. Mr. Arthur said that,

“However, it is possible clients masked their location by using virtual private networks to assign their computer an Internet protocol address from a BitMEX permitted country, tricking filters put in place.”

On the other hand, BitMEX exchange has also ensured publicly that trading on the platform is prohibited by the U.S. citizens or the Canadian province of Quebec, via its website under its term of service.

Seeing at the above facts that the company has taken to remain transparent and following the law from all the fronts, it is uncertain whether this supposed inquiry will yield any fruits at all.

The company has also been on the receiving end of criticism in recent times by a noted economist from the New York University, Nouriel Roubini, who accused the exchange “of being involved in systematic illegality,” according to Bloomberg.

He maintained his accusation on the basis that as the firm provides cryptocurrencies’ trading with up to 100-times leverage and other services such as futures and swaps, the level of risks involving its traders to get exposed becomes high.

Whereas, Arthur Hayes, the CEO of BitMEX, rejects any allegation of such kind and ensures that the firm does not trade against their client. In his recent talk with Bloomberg, he said:

“We continue to monitor all legal and regulatory developments around the world and will comply with all applicable laws and regulations; we reject any allegations of criminality, manipulation or unfair treatment of our customers, who are at the center of everything we do.”

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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India could join China over anti-crypto policy

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Since the inception of Bitcoin in 2009 by the mysterious legend, Satoshi Nakamoto, cryptocurrency sphere has been through several roller coaster rides and still reputed as one of the most hot-topics on the internet, globally. The prospect of decentralized digital currencies has, over some time, caught massive attention from giant investors as well as enterprises.

Much like “every coin has two sides,” the sphere as a whole has been regarded with diverse opinions. Where according to many advocates of digital assets, the cryptocurrency sphere has a lot of potentials to be seen as the “future of money.”

Skeptics, on the other hand, considers it to be a “big fat Ponzi scheme.” Later ones reason their opinion with the larger issues of price volatility and that the idea of decentralization can play a significant role in illicit activities by the likes of hackers and terrorist etc.

Nonetheless, the cryptocurrency sphere, despite its risks, is being considered as one of the most exciting assets of the ongoing century. Approximately, more than 2000 cryptocurrencies have emerged on the mania until now, together-with an entire industry of wallets, exchanges, and apps.

 Cryptocurrencies and the 1st World Countries

Although the cryptocurrency and blockchain technology has a lot of promising use-cases and immense adoption in many countries, it is mostly unregulated. However, the legal status of cryptocurrencies and its related instruments differ significantly from state-to-state. The majority of countries have not made the trading of Bitcoin (or any other cryptocurrency) illegal but have contradictory regulatory implications.

Although, now and then, talks of imposing a ban on cryptocurrencies arise, still, many 1st world countries such as United States, Russia, Australia, Singapore as well as many countries inside European Union have somewhat friendlier laws concerning the cryptocurrency sphere.

China, on the other hand, is among the few first world countries which have strictly banned the cryptocurrencies’ trading inside the country.

Is India about to join China on Anti-Crypto Policy?

Although the financial institutions and regulated entities of the country have been prohibited by RBI (Reserve Bank of India) for holding, dealing, or transferring the cryptocurrencies since July 2018, however, on a legal perspective, as there is no law or legislation in the country which recognizes or monitors Bitcoin, trading or mining of Bitcoin is neither illegal nor legal in the territory.

According to the latest news, a draft of the bill has been prepared to present in the upcoming parliament session for imposing a ban on any dealings or transactions in cryptocurrencies throughout the country. Upon failing to do so, the person or business entities may face prison sentences of up to 10 years.

The draft comprising of 18 pages of the said bill was shared on Scribd by local blockchain lawyer, Varun Sethi on 15. It reads:

“No person shall mine, generate, hold, sell, deal in, issue, transfer, dispose of or use Cryptocurrency in the territory of India,”

It also defines the cryptocurrencies as:

“Any information or code or number or token not being part of any Official Digital Currency, generated through cryptographic means or otherwise, providing a digital representation of value.”

The document also reads that the government would approve a “Digital Rupee” issued by the RBI as a legal medium of exchange. Any other currency which meets the definition of cryptocurrency mentioned above would be entirely banned.

It is worth noting that the authenticity of the draft is yet to be verified, however even if it is authenticated, the bill is not likely to be debated in the coming session of Indian parliament, says a local crypto industry’s individual.

While publishing the unauthenticated draft, Varun Sethi purports:

“The bill is yet to be drafted completely and tabled in the parliament to become an Act with or without modifications.”

Do you approve of this Bill? Tim Draper surely does not.

As soon as the news broke out on the crypto mania, Tim Draper, a billionaire investor and a renowned supporter of Bitcoin lashed out on Indian government by calling the proposed bill (unverified) “pathetic and corrupt.”

His tweeted:

His tweet, however, has experienced an immediate resilience, mainly, from Indian twitter users, arguing that he should be informed well before he acts on such kind off hearsay news.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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After Ripple’s XRP and Tron, Travala now supports Litecoin too

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With every passing day, cryptocurrency space is becoming more progressive as well as competitive. To beat their supposed competitors and shine in the limelight of the mania for longer terms, the only shared priority of every significant crypto project is to seek for massive adoption, which only happens when their digital asset gets introduced to masses. That is why the recent development by Litecoin foundation can be considered as a magnificent achievement.

According to the recent news circulating in the crypto-mania, Litecoin, the 5th largest cryptocurrency in the market (in terms of market capitalization), has partnered with Travala.com, a leading blockchain-powered digital currency accommodation booking platform. In the lights of this partnership, LTC users will now be able to save up to up to 40% from their hotel bookings through Litecoin’s LoafWallet (an Android and iOS wallet for Litecoin).

Along with this, Travala will also be responsible for the accommodation arrangements of the upcoming Litecoin Summit that will take place later this year, in which top blockchain and visionaries like Charlee Lee, Founder and the CEO of Litecoin, Anthony Pompliano, Co-founder of Morgan Creek Digital, and Tim Draper, Founder of Draper Associates, will appear key-note speakers.

The #TravelWithLitecoin campaign that got launched as a result of this partnership is the continuation of #PayWithLitecoin. Just like the former’s, the responsibility of #TravelWithLitecoin campaign is to promote LTC usage for everyday business among their prestigious community.

Speaking about the partnership with Litecoin, Matthew Luczynski, CEO (and Founder) of Travala.com expressed his views saying that the alliance is a significant achievement for both parties as it will enable to welcome all those who share their vision of the crypto economy. In his own words:

“The consumer is in the driver seat when it comes to achieving mass-market cryptocurrency adoption, and we’re delighted to embark on this journey with the Litecoin Foundation with a unified goal: to bring the mainstream use of cryptocurrencies into everyday life. This is a proud milestone for us as we continue building out our platform to welcome those who share the same vision for the crypto economy”.

Charlie Lee, Founder and Managing Director of the Litecoin Foundation, also expressed his views about the newly developed partnership as follows:

“We are excited to work with Travala.com to make it easier for Litecoin users to #TravelWithLitecoin. Nothing aids mass adoption more than real-world use cases, and the opportunity to use a global currency like Litecoin to travel around the world is a powerful one.”

Having its presence in more than 82K locations in 210 countries and territories, Travala.com functions as a doorway to a comprehensive travel booking experience. Along with the new addition of Litecoin, the blockchain-focused travel booking platform also accepts other major cryptocurrencies as well that includes, Bitcoin, Tron, Bitcoin Cash, XRP. The platform also supports the general online payments options including Visa, PayPal, and MasterCard.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Binance hack saga: From getting hacked, to community unity, to getting security help from McAfee

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In recent times, Chengpeng Zhao-led cryptocurrency exchange, Binance, has become somewhat of a prestigious entity in the crypto world. It is not just one of the leading digital exchanges in the space but has also gained tremendous popularity among the crypto-nerds because of its low transaction fees, high liquidity and specials discounts if users pay in BNB (exchange’s native token).

On Wednesday morning Asia time, Binance published a blog post on the medium which shook the whole crypto-mania as the exchange disclosed that they discovered a large-scale security breach into their network.

According to the release, On May 7th at 17:15 (UTC), cybercriminals (the hackers) were able to penetrate the “so-called” secure hot-wallet of the exchange and siphoned off approximately $40M worth of 7000 BTC.

The hackers were able to procure API keys, 2-factor authentication codes and other information through phishing and viruses techniques that helped them to carry out the transaction. The crypto exchange notes,

“The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time. The transaction is structured in a way that passed our existing security checks,”

Binance further said in its statement that,

“It was unfortunate that we were not able to block this withdrawal before it was executed. Once executed, the withdrawal triggered various alarms in our system. We stopped all withdrawals immediately after that.”

Although, digital exchanges getting hacked has become quite a norm these days as according to the Wall Street Journal, up to $1.7B worth of digital currency has been stolen over the years by cyber thieves. But now that becoming the case with the technology like Binance, which is famously regarded as the hyper-secure and impregnable, to get hacked, posed yet another warning to the crypto-nerds that “your money might not be as safe as you think.”

In the wake of this unfortunate incident, the crypto exchange ensures its community that they need not worry whether their funds will be affected. On the contrary, they will be compensated entirely through the exchange’s internal insurance system named “#SAFU fund.” In other words, it is in fact, the company which got harmed from this malicious attack with the loss of almost 2% worth of its BTC reserves.

Crypto-community jumped all over with their offers to help

Soon after the announcement was made, various digital exchanges started to work with Binance to impede any deposits connected with the hacked wallets. Whereas, the community offered their help to the victim via donations. In the meantime, Justin Sun, the CEO of Tron and BitTorrent, also offered his support to his friend (Binance’s CEO CZ) over Twitter (his usual medium for connecting with crypto-mania) to buy $40M worth of BTC, BNB, TRX and BTT that equals the reported theft from the exchange (7000BTC) if Mr. CZ permits.

Chengpeng Zhao though responded with appreciating words for everyone stating that “We are hurt but not Broke” and “we will cover the loss from the #SAFU fund.” His tweet reads:

John McAfee, the digital security expert also came forward to pledge his support for the platform after he heard the unfortunate news. Using his Twitter account, the software mogul while flaunting his 51 years of experience in cybersecurity, offered his help to Mr. CZ.

Interestingly, little time after the help was offered (approximately 2 hours), Binance’s CEO responded to Mr. McAfee by accepting his proposal to benefit from his expertise.

Apparently, both are in communication with each other regarding the issue and hopefully, it will bring a fruitful conclusion to the ongoing Binance hack saga.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Tron reaches 8-months highest nodes level; exceeds Bitcoin in all-time transactions in less than a year

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Tron, the 11th favorite cryptocurrency in the market (in terms of market cap), is trending negatively at the moment. If we look at the data present at the coinmarketcap.com, Tron, after seeing a 2.5% downtrend in the past 24 hours, is available for trade at $0.0235.

The current trends of Tron’s token in the market are likely to change soon as the crypto is predicted by many of the digital space’s experts, to ride the bulls in the comings days thereupon hitting the $0.2 mark by the end of 2020 (yes, that’s a long term prediction).

The primary reason behind a crypto’s price statistics depends upon the project’s current performance combined with how it has performed previously. It is no news now (almost everyone in the crypto space knows it already) that recently, Tron, the fastest growing ecosystem, hit a record 2.7M user accounts on the network.

Furthermore, last week, the crypto’s ecosystem saw a whopping 33% growth in its 24-hour trading volume as a result of the addition of 39 new dApps in a single week on the blockchain. Additionally, Tron smart contracts are also nearing 1000, as they are reported to be 877 already.

Tron’s Online Nodes Increasing Significantly

A couple of days ago, on May 8th, Tron landed another significant achievement because of the blockchain’s increased stability and growing global reach. This time in terms of “its highest number of online nodes in many months.”

Misha Lederman, the co-founder of IAmDecentralized.com and renowned supporter as well as elected advisor of Tron, announced via his Twitter handle that in merely two days Tron’s online nodes have increased from 1100 to 1357, making it to the highest level in eight months. Misha tweeted:

Tron Surpasses Bitcoin in Terms of All-time Transactions

Tron, since its inception is mostly being considered as the competitor of Ethereum in the crypto space. Interestingly, Justin sun led crypto just accomplished another milestone that puts it in front of the Bitcoin, famously regarded as the compass of the cryptocurrencies.

As reported by TronScan (a blockchain explorer that allows the crypto community to search the Tron Blockchain for transactions, accounts, tokens, and nodes), the total number of transactions recorded on the blockchain platform exceeds the total number of transactions documented on the Bitcoin network.

For a blockchain company that is merely a year old to have attained such a feat against the crypto which is not only existing for a decade but is the mother of all cryptocurrencies surely is a remarkable achievement as acknowledged by the Justin Sun himself.

As things stand, the price of Tron’s token, TRX, seems to be not reflecting the value it boasts but things might change soon given that the Sun-led blockchain keeps building as it has been lately. Let’s see how things unfold.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Tron block height nears 10M mark; Sun predicts Tron to be among top 10 by June

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Since this month of May began, Tron Foundation, creator of the namesake crypto which is, at the moment, the 11th favorite asset of the crypto market (in terms of market capitalization), has been in the limelight of crypto-mania announcing staggering achievements landed by the blockchain company.

According to the recent news officiated by the Foundation, previous week Tron saw its smart contracts to increase by 100 reaching the mark of total 877. It’s not a piece of surprising news since it’s MainNet launched (last June), Tron’s smart contracts are gradually increasing in numbers because of the networks’ growing popularity.

The astonishing achievement of the rapidly growing blockchain does not just halt there, according to the weekly Dapp report published by the foundation, the past week has seen a sharp increase in its Dapps sector. Along with three new games, the total number of Dapps deployed on the blockchain is 39 (since the previous week).

Because of this sharp growth in the Dapp division of the platform, reportedly 33% growth has been witnessed in the 24-hour trading volume of the crypto which stood at 505,000 at the moment the report was made public.

Justin Sun also proclaimed recently that while other blockchain companies are cutting off their staff because of the increasing pressure and intimidation of the bear hugs, Tron, on the other hand, enjoys considerable success. He declared that instead of following the suit (unnecessary), Tron has been employing a new talent in every two days.

Tron’s Block Height reaches the 9M Mark

It seems that the Tron-backed crypto’s notable achievements are not over for the week. According to Misha Lederman, Tron’s Advisor to the Dapp Evolution Ecosystem, the crypto’s block height has exceeded 9 million already. He informed the crypto mania about the news a couple of days ago via his Twitter handle.

According to his tweet, the 11th largest cryptocurrency on which more than 400 decentralized applications are running (415 to be exact), has had a phenomenal day on May 6. Tron recorded 2.2 million transactions on May 6 along with the continuous addition in the crypto’s user accounts hit the 2.78M mark.

Will Tron reach 10th spot this month? Justin bets on It

Yesterday, Justin Sun, founder and the remarkable marketer of the crypto, used his Twitter handle to predict that Tron will be back in the top 10 list of the market by next month, June. He didn’t just stop there, the founder also predicted that BitTorrent Token (BTT) will also become one among the top 30 assets as 2019 Q2 ends.

If we look at the overall trends of the famously regarded unpredictable crypto-mania, Justin’s prediction seems achievable. Recent impressive strides of Tron put it pretty close to the 10th spot (just shy of approximately 60M), many crypto-maniac are therefore in favor of the Sun’s prediction.

BitTorrent Token (BTT), on the other hand, also has had a remarkable journey since its inception. In its first week’s trading only, the token gained 500% and continuously growing among the top performing digital assets in the market.

At the time of writing this piece, Tron is the only cryptocurrency that’s in the green out of all top 15. After gaining 2.36% in the last 24 hours, TRX stands at $0.02468 accumulating the market cap of $1,645,832,539.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Tron hires one new talent every two days, aims to have 500 staff member as 2019 ends

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Since the day of its inception, Tron, which holds the 11th spot in the crypto market in terms of market capitalization, has been continuously shaping up to be the most exciting project in the crypto-sphere. The project was introduced on the Ethereum backed ERC-20 protocol, initially. But has managed to gradually grow into making its own blockchain therein establishing itself as the primary competitor to the creator (technology) itself. That alone presents a great astonishing feat in itself to be cherished by the community.

All of this could never happen if Justin Sun, the founding leader of the foundation, didn’t have the companionship of a competent and proficient crew working 24/7 for the company to realize its fantasy – to make the whole world-wide-web decentralized.

As they say, great things in business are never done by one person; they are done by a team of people. As Tron, the company behind the namesake digital asset, TRX, keeps striving, the token price has doubled since the year began. The blockchain is also establishing itself to be a popular smart contract platform progressively. To continue this great stride, the foundation has always welcomed skilled aspirants who want to join the cause.

Every Special Talent Can Join Tron

Yesterday, Justin Sun took to the social media (Twitter, his favorite platform pick), to invite the Tron parishioners to join the team. In his tweet, the CEO also mentioned the fact that while other blockchain companies are seen to lay off their employees in recent times, the Tron foundation has expanded from merely 30 to 355 people in just 500 days. His tweet reads:

According to him, while amid (and aftermath) recent fatal bearings forced other blockchain companies to cut staff off, Tron has employed a new talent in every two days. The company plans to increase its staff to 500 as 2019 ends.

Any desirous individual can join the team by applying for the job through the link given in the tweet or directly on https://tron.network/careers.

Interestingly, this is not the first time when Justin Sun used social media to announce vacancies at the foundation. It has become a routine for the charismatic CEO. In July, previous year, Justin used his official Twitter account for the first time to announce the openings in his company. If we recall the interesting fact about that tweet which got trolled on crypto-mania expeditiously, was the show-off of his own company ID to his followers with a number hard to forget: 000001.

Tron (TRX) Price at the Moment

Although the Tron’s native token TRX closed negatively on last weekend, it (as like all almost all top 10 cryptocurrencies) is standing in the green. At the press time, after experiencing a hike of 4.10% in the past 24 hours, Tron’s coin is available for trade at $0.02409.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Facebook touches major payment players to invest $1B in its proprietary crypto project

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According to the recent news initially published at The Wall Street Journal on Friday, Facebook, the giant social with an active user-base of almost 2.32 Billion globally and accumulating more than $40 Billion annual revenue, has called up a bunch of digital merchants and financial institutions to raise monetary support. Efforts of such kind are being made to create its own crypto-based payment platform that could correspond its arch-rival Apple’s native payment system.

This news is the continuation of the Bloomberg‘s revelation made last year (in December) that tech-giant is working on developing its very own digital currency pegged to the USD to facilitate the consumers with an opportunity of transferring money via WhatsApp messaging app. WSJ claims that Facebook has been in talks with considerably major payment institutions, the likes of Visa, MasterCard, First Data Corp, to acquire their potential support to launch the system.

Although the company’s authorities have been tight-lipped about the project, WSJ asserts that by talking to the sources familiar with the matter, Facebook has been working to build a blockchain division within the company with a secret project dubbed as “Libra” for over a year.

The purpose of the project is to design the system in such a way that it does not only allow the users to do transaction within the platform but also on other e-commerce networks. Citing another source, WSJ notes that Facebook is looking to accumulate as much as $1 Billion (initially) for the project from VC firms. The WSJ reported:

“Facebook is also talking to e-commerce companies and apps about accepting the coin, and would seek smaller financial investments from those partners, one of the people said.”

It is not just that, once launched, Facebook plans to reward its grand user-base with portions of its proprietary coin to entice them to check out the ads or shop on the platform – the WSJ maintains.

” Facebook reportedly plans to reward users with fractions of a coin when they view ads or shop on its platform, most likely in an effort to entice people to give it a shot. If the company plays its cards right, it could have a huge userbase in no time, seeing as it has over 2 billion monthly active users.”

Although it is not clear yet that when will we see the launch of Facebook’s native cryptocurrency but according to the Barclays analyst, Ross Sandler’s estimation (made earlier this year), if every card is played correctly by the giant-social media firm, it could profit anywhere between “$3 Billion to $19Billion” in its annual revenue on the back of the crypto project.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Ria Money Transfer partners Ripple for swift remittance

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Ripple, the parent company of the third largest cryptocurrency in crypto-mania, XRP, has always been considered as one of the dominant blockchain players of the space because of its hefty client list of financial institutions. The blockchain firm is also popular because of its various collaborations towards providing a decentralized payment platform across the globe.

And now, Ripple has shaken hands with Ria Money Transfer, the second largest liquid asset transfer business globally, backed by Euronet Worldwide. Euronet Worldwide is a major name in the realm of electronic payment services providers based in Kansas, United States.

Through this association, long-lasting positive effects are bound to happen on both partners’ huge communities. Ripple will be able to increase its digital and physical footmark along with its ecosystem because of its partner’s presence in 155 countries with impressive 377,000 branches.

Ria Money Transfer, on the other hand, will employ Ripple-backed RippleNet payment network (that comprise of more than 200 financial institutions globally) to facilitate its clientele of millions with swift, transparent and efficient transactional experience who transact $40 billion annually in money transfers.

The announcement was made by none other than Michael J. Brown, CEO and President of the Euronet during a recent Euronet conference call. The President of the company quoted on the occasion about the partnership as:

Juan Bianchi, the CEO of the Euronet’s money transfer segment also seemed confident about the positive aspects the partnership will bring for the sake of both parties. According to him, Ria’s association with Ripple aids to build “innovative payment infrastructure” that aims to ensure easier access to their potential partners while delivering swift and easy payments to its clientele. In his own words:

“At Ria, we have developed the second largest Money Transfer network in the world along with a best-in-class compliance program all connected by our proprietary technology. Ria’s integration with Ripple serves to build rails for an innovative payment infrastructure that seeks to provide easier access to potential partners while delivering faster and cleaner payments to its users. Time is a vital currency for our customers and partners, so we always keep it at the center of our innovation efforts.”

Marcus Treacher, Customer Service SVP (Senior Vice Presiden) at Ripple also shared his thoughts about the promising aspects that partnership will benefit both companies. He said:

“This partnership will enable Ripple to expand the reach and solutions for our partners and the overall banking ecosystem. Ria is one of the top money transfer players in the industry, with the second largest network in the world and is known for its world-class service. By joining RippleNet, Ria not only enhances our value chain for our partners but will continue to improve remittance times and costs for both their customer and enterprise clients.”

Although, last month was considered as relatively satisfactory for the cryptocurrencies.  Ripple’s native token XRP, on the other hand, struggled for the most part of the month. The coin joined the bullish ride for the first few days of the month but couldn’t keep up continuing its positive stride on the trading charts lately.

In the wake of this relatively huge announcement, the popularity of XRP has stepped up the ladder which would surely have some positive effect on its price. When? We hear you ask. We don’t know the exact date but one thing we are positive about is, it will sooner or later (we think).

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Top Chinese crypto wallet RenrenBit supports Tron (TRX) now

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With every passing day, Tron, the 11th largest cryptocurrency at the moment keeps on establishing itself as one of the most reliable projects in the market with its continuous exciting updates and developments popping up on the sphere. The Sun-led cryptocurrency has managed to succeed in developing many partnerships throughout the year, the fact that tells us about the growing popularity of the foundation and its influence on the crypto-mania.

Being a blockchain project that has had tremendous success in the Dapps sector in recent times with the influx of tremendous amount of top-notch developers, Tron, is considered as the crypto of the near future. Just last week, Binance, the leading crypto exchange in the mania, published its in-depth Institutional-Grade report on Tron in which it acknowledged the fact that Tron’s TRX has a lot of potential for growth in the future.

It made this opinion by witnessing the company’s success in attracting top-tier developers to the platform, in the result of which 407 Dapps have been deployed on the company’s blockchain in no time (to be specific, in 200 days only).

That being said, Justin Sun and his team are working tirelessly in forging associations and collaborations with other companies and businesses to enlarge its scope and yield innovations in various sectors. For instance, it got enlisted on one of the largest crypto-exchange from Europe, Bitpanda, a couple of days ago.

The cryptocurrency making it to the exchange upon getting the highest votes in favor of the decision by the exchange’s huge user-base speaks about the influence and popularity the crypto has managed to add to its name in the crypto-sphere.

News of the Day for Tron Enthusiasts

Yesterday, Justin Sun, the creator and CEO of Tron announced on its official Twitter handle that TRX is now available for trade on a renowned Chinese crypto wallet, RenrenBit.

The CEO’s tweets read:

As one can imagine, the news brought a leap of smile amongst the community as it strengthened their beliefs over their beloved crypto and its authority’s capabilities in fulfilling their promise of providing the community a reliable and efficient experience of trading.

One Tron believer who uses the @abdurhmangamil handle on Twitter appreciated the news-bearer as follows:

Tron at the moment

With Bitcoin, the mother of all cryptos, reaching to its highest 2019 price mark ($5,5,841) after waiting patiently for 7 months, the crypto market looks good today for all the cryptos.

Besides few (lesser known) cryptos, almost all the significant cryptocurrencies in the market are trending in green. Sun-led Tron after gaining 2.36% hike in the past 24 hours, is available for trade at 0.02426. It is important to note that the current price mark is attained by the crypto after struggling for almost 10-12 days. As the crypto is predicted to be good for short-term investors in the ongoing month, the present signs of the trends are definitely in favor of the Tron.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.