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Tron enthusiasts should not worry; good time might be imminent, here’s why

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Tron, founded and lead by one of the most recognizable faces in recent times in the crypto sphere, Justin Sun, has been in the mainstream news ever since its inception.

There could be many reasons supporting this fact, its vision to forge the entire internet network decentralized, the uniqueness in its procedural architecture, ever readiness trait of the foundation and its leader’s energy to look out for the opportunities that could provide TRX community means to excel in their routine business are few which surely stands out.

Launched in September 2017, Tron was introduced in the crypto verse with its token hosted on the Ethereum blockchain with an idea to become the content distribution platform for the digital industry. Sun-led cryptocurrency has now evolved into an utterly different entity and currently stands as one of the most popular cryptocurrencies in the market.

Last year in June, Tron launched its own mainnet (simply put its very own blockchain) with a purpose of migrating its previously circulating tokens in the market to its proprietary Blockchain.

Ever since then, Tron has turned to one of the major players in the crypto mania. Tron’s acquired BitTorrent facilitates its rapidly growing community to share and use content available on the peer-to-peer decentralized platform without a middleman famously dubbed as the Project Atlas.

Although the journey has not always been smooth, Tron has achieved many landmarks up to this point of time. The project quickly changed the opinions of its naysayers who weren’t really impressed with the foundation’s future by considering it a scam when it initially kicked off.

Tron has seen a significant rise in TRX’s price in the past one year which is around 26%. The blockchain has also reached 2 million mainnet accounts mark just at the beginning of this month. The achievement is also worth noting because the time it took is no way near to its close rivals such as Ethereum or EOS.

Another exciting news circulating in the community nowadays is the promising partnership of the two major players Tron and the stable coin Tether (USDT).

Earlier this month, the announcement of the strategic partnership between Tron and Tether brought excitement among the both coins’ communities as the decision is considered to be a game-changing one for both companies and their respective communities. As per experts, the migration of Tether’s token onto the Tron’s Blockchain (TRC-20) will strengthen both coin and the companies significantly.

Tron token’s price is struggling at the moment (alongside the rest of the crypto market), as it was as high as $0.026 during the second half of January this year, and now (at pressing time) is available for trade at $0.023 in the market.

Still, many observers believe in the crypto space that once the implementation plan for migrating Tether (USDT) on to the Tron blockchain gets launched during the early Q2 of 2019, Tron’s price would rapidly flourish to the $0.05 mark and even higher according to some analysts.

So, if you are a Tron enthusiast, as things look, you do not need to worry much and remember one thing; patience is the key.

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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.

Bitcoin could see its old good by early 2021 if history repeats itself

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Since reaching its historical $20,000 mark, the biggest crypto, Bitcoin has undoubtedly had it rough. When the 2017 December to January 2018 frenzy came to an end, everyone expected bitcoin to recover. Unfortunately, the coin didn’t recover, but instead, things kept going even worse.

At the moment, Bitcoin hovers at $3,900 without a say whether we’ll see a further deepening. Now, as expected, traders and experts have stepped up to give their opinion both about the bear market as well as what to expect.

Interestingly, this time around they are basing the predictions over historical trends rather than the usual dreams we’ve got used to in the past.

Bitcoin Trading in Multi-Year Cycles

Since the crypto hit public markets, it has traded in multi-year cycles. What it implies is that in every few years it runs parabolically before a dramatic filthy 80% drawdown. By this point, going by history, bitcoin has done it at least twice or thrice.

80% down from a recent historical high means that sell-offs are only in a rearview mirror. According to some analysts, if BTC bottomed in late-December, then that was perfectly on point timing when compared to the historical pullbacks.

So, are we there yet?

Indeed, whether BTC has already bottomed out or not is a question with intense debate. For most traders and analysts, it already has. However, let’s not hide the fact that many times the coin has surprised us managing a break of one support level after another.

According to an explanation from Roger Quantrillo (a top crypto expert), the price action from late-December 2017 to early 2019 is a copy to the rally as well as the subsequent collapse of the coin in the past market cycles. Moreover, he states that after it surpassed a long-term upward trend line, it took it 434 days to hit bottom back in 2015.

History Often Rhymes and Doesn’t Repeat Itself

The price may not necessarily be the same to that of 2014/15, but regarding the time, it’s perfectly on point! Therefore, if indeed BTC bottomed late last year, then it implies that the current bear market as well took 434 days to bottom.

What does that mean going as per the history?

Quantrillo notes that in case it’s a matter of history rhyming, then BTC will ensure the current bear market is taking its last breaths by breaking by late-2019. What it means now is that hoping that history rhymes, Bitcoin could slowly but steadily start to move higher and eventually establishing in its old good or even going beyond by early-2021.

What if it’s all wrong?

Perhaps, all may seem to the point that bitcoin may start to grind higher, however, lower lows may not be yet out of sight. Trader Jonny Moe decided to look at the coin from the other side stating that despite the positive expectations, we may still have a likelihood for bitcoin going below $3,220 moving forward.

At the moment, nothing is certain as to where bitcoin will be headed, up or down, but one thing is for sure, it will take a direction. Whether it will produce its surprise antics as we’ve come to understand it or match with the theory, only the future has the answers. Roll your dice and take the risk; after all, something will happen.

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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 keeps tramping EOS and ETH in Dapp sector

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As days go by, Tron, one of the most exciting projects in the space of cryptocurrency, despite the recent fall in the ranking list, continues to keep getting stronger and popular among dapps users and developers by achieving astonishing landmarks that any cryptocurrency would wish to obtain.

According to Misha Lederman, one of the prominent supporters of Tron, a record amount of money is being spent on Tron dapps in the past couple of days. Users have spent $31 million on dapps built on Tron’s blockchain, which is double the amount spent on its rivals’ (Ethereum and EOS) dapps combined. He broke this remarkable news on twitter yesterday. The tweet reads:

It is worth noting that there are almost 255 daps operating on the Tron’s blockchain at the moment.

News of the Day

It is that time of the week when Tron publishes its weekly report on the Dapps running on its blockchain. Justin Sun, the Chief Executive Officer of Tron, just like every time, didn’t miss the opportunity in letting Tronics (the TRX community as he calls them) know about the notable achievements the foundation has marked in the past week.

Using Twitter, Justin Sun delightedly mentioned about the Dapps’ exceptional performance from last week, where $17 million in terms of trading volume, in average, have been processed through the whole week, which is more than its rivals, Ethereum and EOS even when calculated combined. His tweet on the subject reads:

The report also mentioned the significant growth in the trading volume and daily active users (DAU), in lights of the recent recovery the crypto market is demonstrating at the moment. Current positive information exhibited by the market has kindled the interest of people for decentralized applications (Dapps).

Not too long ago, Tron’s account number reached to the mark of 2 million and still growing leaving far behind EOS and Ethereum in the same respect. That signals about the popularity Tron is attaining among the Dapp users choosing it over its presumed competitors for their public chain experience.

Tron’s weekly dapps report published on the medium has also shed light on the extraordinary performances of the two recently launched dapps on the Tron’s ecosystem, Tron Shrimp Farm and Ant Farmers.

Both of these decentralized applications recorded massive daily active users in merely two to three days since they got launched with former application reaching a DAU of 30,000. The feat is believed to be achieved because of the timely return of the high-risk ROI dapps.

Although the Tron’s Dapps ecosystem is still in its early days and much more needs to be done for securing the top spot in the market ladder, but seeing the growing interest among the community for the decentralized application being developed on the Tron, there are chances that the foundation introduces 2000 dapps (currently the total number is 243) as this year, 2019, ends.

Consequently, that won’t be a surprise if it happens because if we look at the strides in the Dapp sector, Tron definitely is pushing itself at the leading front quickly.

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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.

The Singapore-based crypto exchange Zipmex lists XRP, EOS, and Litecoin

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A fully licensed Singapore-based digital asset exchange, Zipmex has taken a giant stride forward with the announcement of the addition of Litecoin (LTC), Ripple (XRP) and EOS (EOS) to their trading platform. Like many other asset exchanges, Zipmex is doing all it can to make its presence felt in the crypto community, and there’s no better way than increasing numbers on the platform.

Growing the Trading Board

The addition of LCT, EOS, and XRP means that Zipmex has expanded its trading board which initially consisted of mainstay tokens Bitcoin (BTC) and (ETH). The platform will be supporting fiat pairings of Ripple, Litecoin, and EOS, too. The fiat pairings to be supported will be LTC/USD, EOS/USD, and XRP/USD.

Subsequently, the addition implies that the coins will be paired with both ETH and BTC. However, the growing asset exchange is yet to announce a detailed listing as well as deposit schedule.

Zipmex’s primary focus is to provide retail as well as institutional investors with the ability to securely invest in cryptocurrencies. Alongside the advanced trading features and the charting tools, it also provides the clients the access to the OTC market.

Therefore, it’s almost a no-brainer that the expansion of their trading will help to create a more vibrant ecosystem whereby they provide their users with a channel to sell or buy EOS, LTC, and XRP seamlessly.

In addition to the fact that Zipmex have strong local investors as well as advisors like AEC Securities, and InterVentures Asia (SEA) and solid partnerships with most established companies like EOSIOSG and Deloitte, they stand a better chance now of pushing to becoming among the best asset exchanges.

For now, the XRP, Litecoin, and EOS addition is good news for Zipmex and the respective tokens’ communities, but we can’t tell what the future holds for them – only time will tell.

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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.

Justin Sun: Forget the bearish trend, Bitcoin and crypto industry have a bright future

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Justin Sun, one of the enthralling figures in the crypto-mania and the CEO of Tron, the 10th largest cryptocurrency in the world at the moment, has enforced his opinion that cryptocurrency and blockchain are the technologies that future generations are going to own.

In his recent interview with the leading American news channel CNBC on March 13, Justin Sun, talked about the blockchain technology, cryptocurrency and Bitcoin (the mother of all cryptocurrencies) saying that despite the certitude that big guns of the investment industry like Warren Buffet and Howard Marks are in the critics of Bitcoin, he’d opined that “cryptocurrencies are more of a technology than a business opportunity”.

During the discussion, while talking about the current situation of the market (which is not that great due to the longest bearish trend recorded so far), Sun noted he is the firm believer of the fact that younger generation’s interest about cryptocurrencies has remained unaffected.

In support of his statement he mentioned about the Bitcoin’s scaling solutions, most importantly the Lightning Network, which makes the cryptocurrency more than able to formulate the internet evolution. In his words:

“A lot of people believe in the functionalities of cryptocurrencies with the main examples being Jack Dorsey and Elon Musk. It is a good opportunity for younger generations to get into the field especially at a time when the Lightning Network and other such Layer 2 technologies are becoming popular. We are facing the next wave of the internet.”

During the interview, while speaking about the concern of increasing blockchain technology mass adoption he grabbed the opportunity to flaunt about some of his projects where his team is focusing on the integration of the cryptocurrency and blockchain on its file-sharing network BitTorrent, which the foundation acquired last year.

Tron CEO said,

“I think, basically, right now the biggest opportunity is the mass adoption. For example […] the cryptocurrency we are introducing into the BitTorrent network, one of the largest file transferring networks in the world. We have over 100 million monthly active users in over 138 countries. I think lots of companies like Facebook will also bring a lot of people to the industry as well.”

When asked about why he’s been seen on multiple occasions commenting that he does not really care about the market price or the market cap of the token his foundation holds, Mr. Sun’s answer was much of a modest one.

He expressed his priorities about the company that is to focus more on the technology and business development side first and then comes the valuation aspect – which according to him is merely the business surface.

Justin Sun believes,

“Basically valuation and the market cap is just the surface of the business. The main focus of the Tron Foundation is business, technology and the exciting things on the Tron network right now.”

At the time of press, Tron stands at the 10th spot in the market with a market capitalization of around $1.51 billion.

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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 (TRX) holders on Troncard eligible for BitTorrent (BTT) airdrops now

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Have some TRX with you? Lucky you.

It’s merely a month ago when BitTorrent, a family of the Tron blockchain technology kick-started the airdrop program bountifully rewarding Tron (TRX) holders. Right after the announcement, several exchanges and wallets were confirmed to be supporting the airdrop program that started on February 11th, 2019.

But, not all the top wallets and exchanges at that moment were not lucky to get involved in supporting the program.

Tron (TRX) Holders on Troncard Finally Smile

Troncard will now be supporting the program too. As usual, on his Twitter account, Tron CEO and founder Justin Sun broke this significant announcement. His tweet stated that BitTorrent airdrop would now be available on Troncard for TRX holders, too.

The news is music to TRX holders on the Troncard platform who for the past month have watched fellow holders on other exchanges and wallets get the rewards. The BitTorrent airdrop program is meant as a reward for Tron’s long-time TRX holders.

Furthermore, the BitTorrent foundation has plans to airdrop another 99,990,000,000 BTT during offline and online events. This will come after the initial first airdrop of 10,890,000,000 BTT gets initiated which the foundation said was to be taken upon Tron’s block achieving 6.6 million.

Troncard Wallet Ticks the Boxes

The conditions of qualifying for airdrop has been that one must first own some Tron (TRX). Each wallet is qualified for BTT airdrops on Tron’s system relating to the total being held. Most importantly, there’s no minimum of TRX required for one to qualify for the airdrops.

Also, TRX tokens have to lay in a wallet or exchange that is officially approved by Tron. Therefore, the TRX holders on Troncard have a reason to smile as the wallet has been approved to support BitTorrent airdrop finally. Regardless of whether your TRX are frozen, it now means you are eligible to receive airdrops.

Be safe. Be confident. You don’t have to lose your funds to fraudulent websites and channels that are not approved. Slowly but steadily it seems that BTT airdrops will be supported in most exchanges and wallets. With the current pace, only time will tell.

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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.

After Tron, Ripple creates $100 million fund for blockchain games developers

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Last November, Tron set 100 million USD fund for games as it launched the Arcade project. And now, Ripple has decided to follow the suits. In fact, as like Tron, with Ripple (XRP), the good news is endless.

Xpring, Ripple’s developer ecosystem initiative and Forte, a company aiming to accelerate the gaming industry’s adoption of the blockchain technology, have established a partnership to create $100 million funds to support the game developers.

Ends of the Deal

The gaming industry is rising, and it attracts millions of individuals each year, and one thing is for sure, it’s a very rich as well as a promising niche. Therefore, after Tron, Ripple has chosen to make the right bet with this one.

The report says that all the funds will originate from Ripple with Forte only managing them as it aims to achieve their objective of accelerating blockchain technology’s mainstream adoption in gaming.

Evidently, blockchain has the potential of improving the game designs as well as help the developers run superior and even more triumphant game economies. However, for most of them, it’s hard to develop as well as deploy.

Forte offers a platform that’s easy for the developers to apply blockchain into the games, increase engagement as well as monetization with the players. The fund will target game developers operating live game economies with more than 50k daily active users as well as game developers with a genuine interest in blockchain deployment.

The Right Platform for Blockchain Technology Mass Adoption

Forte is undoubtedly doing everything possible in developing effective blockchain technology platforms alongside products built for the gaming industry. Founded merely a few months ago, Forte is well placed with experts in the game platform development, publishing and game design from established companies like GarageGames, Kabam, Unity, Gen.G Esports, and Linden Lab.

Besides, its technology stack includes components that leverage open-source solutions designed in close collaboration with Ripple. The solutions include open-source Interledger Protocol, the Codius platform and use of XRP for settlements (that could be huge).

On the Broader Side

Ripple is attempting to expand its services beyond the core business of financial software, and the $100 million gaming funds represent a way of pushing their objectives. Additionally, gaming platforms integrating the Interledger Protocol could spur mass adoption of XRP that Ripple holds in plenty (allegedly).

Subsequently, blockchain adoption by video game developers represents merely a third significant use case. At the moment, most companies use blockchain for financial settlement as well as supply chain management; though it’s experimental in most of those cases.

For Forte, it’s almost inevitable that the fund could raise its profile. The company hasn’t commented on that fact yet, though.

Talking about their funding being done already, they got money from investors like Andreessen Horowitz. Consequently, Ripple and Forte have a similar belief that blockchain is the way for the gaming industry. Whether that’s true or otherwise, the future for the gaming industry looks bright.

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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.

BCVWallet fully supports TRON ecosystem now; BitTorrent completes 990,000,000 BTT airdrop

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TRON continues to enjoy excessive growth in its ecosystem. And, in a bid to update the TRON community of a recent stride, the CEO of blockchain firm announced the support of BCVWallet for TRON ecosystem.

Sun tweeted:

It is worth noting that BCVWallet is a safe and straightforward digital currency management wallet that can handle hundreds of token cross-chain transfers.

Users of BCVWallet can now deposit TRX tokens safely with multi-level security. This wallet has a private key stored offline to reduce cases of theft and hacking. It also features personal information and a secret key stored in different forms respectively.

One of the important features of BCVWallet for TRX holders is that they can send and receive TRX tokens in no time, as the dynamically adjusts Gas costs according to the network traffic. The network within the application is free and works in real time.

With that in mind, TRON is now the latest digital asset to be added to BCVWallet, and it joins the likes of Bitcoin, Etherum, Eos, Ripple, etc. The wallet supports all ERC-20 tokens built on TRON’s network.

According to TRON Foundation, the blockchain now powers more than 187 Dapps and about 464 Smart Contracts, plus 10 Decentralized Exchanges, six games, and 40 decentralized tools.

Since BCVWallet now supports TRON and its Decentralized applications, greater value will be offered to TRON holders and its community worldwide.

No doubts, the two companies will continue to collaborate due to the fact that they built out their infrastructure.

BitTorrent completes 990,000,000 BTT Airdrop 

Just in the nick of time when TRON partnership with BCVWallet would boost TRX’s ecosystem, TRON’s BitTorrent completes 990,000,000 BTT Airdrop.

For a while now, TRON is known for its bounty-related activities in the crypto space; however, the blockchain begins to showcase the newly-released BTT tokens to its community.

Justin Sun announced on March 11, 2019, that the second BTT airdrop is completed where a total of 990,000,000 BTT tokens where given to the crypto holders worldwide. We shouldn’t dispute the fact that TRON and BitTorrent are making waves in the crypto space with a series of events focused on solving the problems of interoperability on TRON’s network.

Justin Sun further announced the due date for the next airdrop to start and that’s scheduled to hold on April 11th, after the announcement of the completion of the second airdrop.

As things look, TRON will continue to look for great means to integrate its token (TRX) onto BitTorrent network. And of course, support from BCVWallet for TRON and its tokens would do a lot of good to the Sun-led blockchain and its community.

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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 and CocosBCX to foster the next generation of gaming and blockchain

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TRON aims to foster Dapps and the gaming industry, and in lights to that, the Sun-led blockchain has decided to organize a blockchain gaming summit together with CocosBCX (decentralized gaming blockchain) to explore the opportunities of the sector in the best way possible.

It is important to know that this mini-summit tagged “Blockchain Games Next” will come up on March 19, 2019, in San Francisco to unite blockchain developers and platform partners from all over the world.

According to TRON Foundation, this summit is a half-day one which is free to attend but will mainly focus on Dapps developers, tool makers, investors, and blockchain enthusiasts in the crypto space to discuss the next generation of gaming and blockchain industries.

Subsequently, “Blockchain Games Next” discussion is open for blockchain newbies in the industry as it is not technical. The mini-summit aims to celebrate the success of the blockchain industry while also taking an in-depth look at its potentials.

It is necessary also to note that individuals who are not currently using blockchain but want to know how blockchain technology can be beneficial to their business plan can opt-in for this event.

More than 200 attendees are expected to be present in the event, and they will be entitled to witness the talks and panel discussions with 20 world-class speakers from all around the world including TRON’s CEO Justin Sun. The three moderators of the event are, Dean Takahashi from VentureBeat, Martine Paris (a tech reporter), and Oscar Clark, from Steel Media.

About the Sponsors: TRON and COCO-BCX

TRON is not just a digital asset alone but a blockchain platform that aims to foster the development of online contents and games, and of course, decentralized applications. TRON encourages the development of online games and developers all over the world.

Not too long ago, the decentralized platform launched its new blockchain game fund known as TRON Arcade and invested $100 million on the project for the next three years to develop the gaming ecosystem.

Notably, the main aim of the fund is to assist Dapps developers in producing and executing their productions; to create new games and contents into the gaming industry, and to create an ecosystem that consists of a community of content and entertainment creators.

Coco-BCX is a decentralized gaming development platform created with one of the most significant gaming-developer community that consists of more than a million developers in the world today known as Coco’s engine.

Coco-BCX is also a platform that strives to strengthen the gaming industry, and it is achieving this by collaborating with the blockchain industry. The platform reached an agreement with notable blockchain platforms such as Ontology, Zilliqa, and NEO to integrate NHAS-1808 standard on their public chains.

In December 2018, Coco-BCX partnered with TRON regarding the developer community, thus, promoted TRON’s announcement of investing $100 Million in the next three years.

Nevertheless, TRON is the latest blockchain technology that Coco-BCX has in its ranks. As hinted above, Coco-BCX also supports the “TRON Arcade” developer’s program. The gaming platform is known to build notable games including Badlands and Fight! Also, many game producers including Big Fish Games make use of Cocos2d-x.

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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.

A Swiss startup raises $4 mln to enable people to buy crypto like they can stocks

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Ever since the birth of Bitcoin and blockchain by the mysterious Satoshi Nakamoto, the idea of decentralized currency dubbed cryptocurrency hit the traditional regulated system of the world where everything used to work under the check of the big fishes (central authorities) noticeably.

The folks around the globe got mesmerized upon learning that they can now transfer their assets worldwide without getting into the in-depth scrutiny of the central banks which would in most cases take more than 2 to 3 days to get delivered.

If digital currencies begin to play an essential part within our economy, we could see that these cryptocurrencies will not only alter the traditional trading dynamics but businesses throughout the world, as well as countries, will be able to generate more export/import services comparatively easily.

The ideas mentioned above struck many individuals’ minds and organizations because the underlying blockchain technology is projected to transform the digital sphere. Many startups and investors started to show their interest in the crypto-space gradually and then came the so-called golden era of the crypto-mania, the bottom half of 2017.

The era when digital currencies such as Bitcoin, Ethereum and Ripple recorded remarkable market growth, benefitting their investors with huge returns.

As it is established that cryptocurrency can be the currency of the whole world, but getting hold of it isn’t as easy as purchasing shares in public organizations. To make the procedures comfortable and swift, many startups are devoting ample amount of their times.

Amun, the Switzerland-based FinTech startup is one of them. Although the startup has been making appearances on the space for a short time only, still their strides have made a notable difference.

In an announcement yesterday via TechCrunch, Amun revealed that they had completed their first round of funding of $4 million to facilitate the crypto investors with stock-like buying options.

Investors like Adam Draper, founder of Boost VC and the son of Tim Draper who is famously known as pro-Bitcoin, Greg Kidd, co-founder of Hard Yaka, Graham Tuckwell, founder of ETFS Capital, and four other unnamed family offices have made the significant contribution to the said fund.

Last fall, Amun, launched ‘HODL’ on the Swiss Stock Exchange which is considered as the “the world’s first physically backed ETF (Exchange-Traded Product)” that is supported by the five giants of the crypto mania: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).

The HODL exchange-traded product is basically a security; the prices of the digital currencies it is tied to will affect its value accordingly.

Hany Rashawan, CEO and co-founder of Amun, expressed his vision behind the exercise stating that it is to facilitate all interested investors even when they face local restrictions.

“[While] growing up in Egypt, he saw the government ban Bitcoin despite the fact that it offered an alternative to the Egyptian pound, which saw its valuation tank massively in 2016. He believes that products like Amun allow anyone to take part in crypto even when they face local restrictions, as was the case in Egypt and other countries.”

He further commented on his vision while talking to TechCrunch saying:

“We want to make investing in crypto as easy as buying a stock. Institutional investors around the world are looking for a secure, easy, and regulated way of accessing the crypto asset class. Amun’s products do that at a low price in one of the most reputable financial hubs in the world.”

Image courtesy of Pixabay.

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.