TronWeekly

Crypto World News

You are here: Home / Search for "ark invest"

Search Results for: ark invest

Morgan Creek’s $40 Million Crypto Venture Fund Anchored by Two Public Retirement Systems

by

A new announcement made a couple of days ago, February 12th, by the Morgan Creek Digital revealed a $40 million crypto venture fund, which was anchored by two public pensions. The two public pensions are the Police Officer’s Retirement System and Employee’s Retirement System, both of which are located in Fairfax County, Virginia.

The fund has attracted a lot of attention, and it already has a number of investors, including a hospital system, a private foundation, but also a university endowment, and an insurance firm.

Institutions marching to crypto

Large pension funds have been considering cryptocurrencies as an investment strategy in the past, with one California-based public pension even considering this possibility back in 2016. However, cryptocurrencies are still at a very early stage, which is why many hesitated to make a move.

While the funds are located in the same area, they are still completely separate, and each of them has its own investment committee. The police pension fund contains around $1.45 billion in assets, and the government employees fund has around $4.25 billion. Both funds are quite large, which is expected to bring closer attention to other public pensions and potential interest in blockchain investing.

The goals of the fund

At first, the new fund will focus on equity investments, with a few potential investments in token-based projects that see a certain amount of cash flow, while they abide by the US SEC regulations. Also, the small portion of the fund will be dedicated to holding small amounts of certain cryptocurrencies.

Morgan Creek decided to make this move due to the public pensions’ desire to diversify their investment portfolio and go beyond investing in bonds and stocks. As the blockchain technology already attracted attention due to its unique applications in numerous industries, the public pensions saw it as an interesting opportunity.

The fund attracted the attention of many in the crypto and blockchain industries, and it already managed to close several deals with established firms, including Bakkt, Good Money, Coinbase, BlockFi, Harbor, and others.

While there are real opportunities for public pensions willing to take the crypto and blockchain route, it was difficult finding those who would be willing to make such a move at this point. Many issues in the crypto world still remain unresolved. However, the new development shows that the institutional investors are not only interested in coming to the crypto space, but that they have already arrived.

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.

TronSociety’s TronWallet adds support for TRC20 tokens

by

The TronWallet mobile app

TronWallet is a mobile decentralized application available for Android that runs on Tron’s blockchain.

This app is a TRX digital wallet, developed and backed by the Tron Society, that has been breaking new ground since it was launched last year.

When it first came online, the wallet’s main developer (Marius Gill) won the programming contest for the Android version. The company has yet to go ahead to develop and deploy the iOS version.

Then, after Tronscan released the Tron-based decentralized exchange, that feature was also included in TronWallet, and thus it became the first mobile TRX wallet with a DEX function.

The developing team is very active and constantly updating and upgrading the app, and they released a new version a couple of days ago. The new feature is support for TRC20 tokens.

TRC20 tokens are new cryptocurrencies issued on Tron’s network. Tron’s technology offers two ways to issue tokens (TRC10 and TRC20). TRC20 is the most sophisticated version, and a host of new coins have been appearing lately in the network to take advantage of the technology in specific use cases.

The Android version is 7.3M in size, it’s compatible with Android 5.0 and up, it has more than ten thousand users already and it’s already popular among TRX (and other Tron-related) tokens. It has 528 reviews at Google’s play store and it boasts 4.5 stars.

App’s features:

Among the dApp’s features are:

  • The ability to create wallets of three different kinds: hot, cold or watcher. Each one offers varying degrees of security (while they are all safe).
  • Holding 100 currencies besides the new TRC20 tokens. That obviously includes TRX.
  • Your balance is displayed as the app’s start screen if your wallet has already been created.
  • You can send TRX, receive, freeze some of your TRX tokens, or consult your transactions history. You can also trade token pairs.
  • Decentralized Exchange. Including a DEX in the wallet was one of its most innovative features when it was released, and it’s still there. That app sector allows you to trade in different Tron-based tokens.
  • Biometric authentication.
  • Vote for a Super Representative. This is probably the most distinctive feature in the Tron community. As you probably know, you can only vote for Super Representatives if you own some power (which is token for internal use within the Tron blockchain) and you freeze some of your tokens for 72 hours. Normally you need to do this at Tronscan, but the wallet allows you to do it from your mobile.
  • Block Explorer. You can consult Tron’s blockchain’s history in full detail block by block if that’s your cup of tea.

If you’re interested in this app you can find it at Google’s Play Store (https://play.google.com/store/apps/details?id=com.eletac.tronwallet) and install it on your mobile. It’s one of the most complete apps when it comes to managing your TRX resources and accounts in Tron.

Just a friendly reminder before we finish this post. Having your digital assets available at the tip of your finger in a mobile app is always convenient and there are many good mobile wallets that are quite safe. But the best way to go is always going to be to sacrifice a little usability or convenience, so if you’re about to adopt mobile wallets, we suggest for you to be extra cautious.

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.

SEC receives new Bitcoin ETF request

by

A new Bitcoin ETF authorized by the Securities and Exchange Commission has been the talk in the cryptoverse for months now. So far, SEC has turned down all the applications but many experts believe that an ETF is unavoidable. But who will get the first authorization in the US? Ever heard of Reality Shares ETF Trust?

A new application is filed at SEC

Reality Shares ETF Trust filed a new registration statement with SEC just yesterday. They want to start an ETF that will include Bitcoin futures as an investment strategy and instrument. The Reality Shares Blockforce Global Currency Strategy ETF will be managed actively and listed on the NYSE Arca exchange. It’s “designed to provide investment exposure to global currencies, both fiat and virtual currencies,” according to the filing.

The new ETF, if accepted, will trade Bitcoin futures at the Chicago Mercantile Exchange and at the Cboe Futures Exchange.

The new firm’s portfolio will be composed of “high-quality, short-term (no greater than 18-month maturity), sovereign debt instruments” in US exchanges listed as pairs against Swiss Francs, Japanese Yen, British Pounds, Euros, and USD. And there will be more instruments available in “bitcoin futures contracts of various maturities listed for trading on U.S. exchanges that provide exposure to the price movements of bitcoin” as well as “money market mutual funds and/or other cash equivalents.”

The fund’s strategy to get access to Bitcoin future includes an investment that could be as high as 25% in a subsidiary it owns and controls in the Cayman Islands. The filing mentions the fund’s investment adviser in that he “will seek to limit the subsidiary’s investment in bitcoin futures so the fund’s aggregate notional exposure to bitcoin futures is limited to 15% of the fund’s net assets at the time of investment.”

A seasoned player

An advantage to Reality Shares is that it already operates two blockchain-based ETFs in partnership with Nasdaq. One is the Reality Shares Nasdaq Blockchain China Index (BCNA) and the other one is The Reality Shares Nasdaq Nexgen Economy ETF (BLCN). While it’s still anybody’s guess what would be the criteria that could persuade SEC to finally approve a blockchain ETF in the US, a proven track record could surely be very important. Also, the association with Nasdaq could confer credibility regarding integration with the traditional financial system.

The first one came online on June 20th, 2018 and tracks the long-term growth of investment returns in the Reality Shares Nasdaq Blockchain China Index, which includes blockchain-based firms from Hong Kong and mainland China. The first one is a bit older (January 17th) and it tracks similar markets but in the Reality Shares Nasdaq Blockchain Economy Index.

Is this application the one who gets accepted? We will find out soon. The most important thing is that, whatever ETF appears first in the US market, it could be the first step in attracting some serious institutional investors to join the cryptocurrency market. And that could be the key to unlock the next bull run.

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.

Is the Ethereum killer the Ethereum copycat? This is why Tron is different

by

There are a handful of blockchain projects of the second and the third generation that are constantly compared amongst them. We’re talking about Ethereum, Tron, EOS, and Cardano. In this article, we’ll focus on Tron and Ethereum because both of those blockchains have developed something of a rivalry, and it’s a good idea to understand both the similarities and the differences between them.

Tron vs. Ethereum

Tron began as a project running on Ethereum, and that’s one of the reasons for which a lot of people believe that Tron is nothing more than a new version of Ethereum on steroids. Things are not that simple.

Both Tron and Ethereum are projects which include a token (TRX and ETH, respectively) but, unlike Bitcoin, or Litecoin, or most other blockchain projects the point is not in the token. These are programmable platforms that allow for the development and deployment of smart contracts and decentralized applications.

Ethereum was the first network that featured those capabilities, which is the main reason why it has so much prestige and influence. And that’s also the reason why Tron and EOS started based on Ethereum.

Tron on its own

As Tron became independent of Ethereum, on last May, we saw a lot of talk in the cryptosphere about the “Ethereum killer.” That was because the technical specifications promised by Justin Sun (Tron’s CEO and founder) gave you as a user or developer every capability to do anything you could do in Ethereum.

Except that it would be much faster, much cheaper, and much easier because Tron adopted standard programming languages instead of Ethereum’s languages which are all native and not the kind of thing every programmer knows out of the box.

As Mr. Sun announced Tron’s new specifications, a few weeks before it was launched, Vitalik Buterin (Ethereum’s founder and leader) used his Twitter account to express his skepticism about those specifications. Some would have even called it a bit of a mockery.

But the Tron network was released, and it turned it to be every bit as good as promised. How is this possible? The main reason is: contrary to some popular opinions, Tron is not a rehash of Ethereum. It’s a whole new technology developed using different, more powerful tools and platforms, and that’s why there’s a difference.

It’s all under the hood

Not to get too technical, but Tron is a whole new blockchain built on top of GRPC and DPos. We could explain to you what that means, but it suffices to say that these are the same tools Google uses to come up with all its magic.

Ethereum, on the other hand, is based on JSON-RPC and Pow. Again, not to get too technical, but you surely know Google, and you know how well it works (too well, in many opinions, as a matter of fact).

So, here’s the thing to take away from this post: Tron has nothing to do with Ethereum anymore. It’s considerably more powerful, reliable, and in only a few months it’s managed to have more dApps in the world’s top ten than Ethereum.

It’s innovative, well designed, and well developed. Ethereum was terrific when it first appeared, but Mr. Buterin, able as he is, has not been able to keep his network competitive in the current times.

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.

News from the Ripple and XRP world

by

As usual, lots of things are happening around Ripple, and it’s native currency. That’s how it’s been almost every week for more than a year now, so keeping up with all the news is almost a full-time job (which is our job) and, in this article, we’ll give you a quick digest about what’s been going on lately.

Sendfriend joins Ripple and others

Sendfriend is a blockchain-based remittance company that works mainly for transfers between the US and the Philippines. It currently offers the cheapest, safest and quickest way to process payments between those two countries and it’s raised 1.7Million in new capital to help Overseas Filipino Workers to improve the service’s quality and the customer’s experience.

Among the company’s new collaborators are 8 Decimal Capital, 2020 Ventures, Mahindra Finance, TechStars, the Mastercard Foundation, Barclay’s, MIT Media Lab, and, of course, Ripple.

The Ripple collaboration includes using xRapid to eliminate friction from transfers, and XRP (the coin) as a means of liquidity, so that payments can be settled in seconds.
Ripple has been securing at least a new strategic partnership every week for months now, so this isn’t very surprising, but it shows that Ripple’s leadership is not losing any momentum.

The Ripple community takes the PR war seriously

Ripple’s technology and Ripple’s digital asset (XRP) have not been the most popular cryptocurrency in the world, even if it’s been one of the most profitable coins ever to hit crypto.

Why?

Because Satoshi’s original vision for Bitcoin and cryptocurrencies was to disrupt and finish off the traditional financial system and fiat currencies, Ripple has worked to enhance that traditional system by means of blockchain technology, so many purists consider that to be a betrayal of crypto’s original values and aims. As a consequence, the project and the coin have been at the center of many attacks.

But the Ripple community is steadfast. They like the project and the coin because they understand that the fundamentals are sound.

Recently, the attacks have escalated because many scammers have been using false accounts to promulgate points of view that are, at the very least, very hostile to Ripple.

The community is fed up with this, so they are creating self-governed mechanisms to counteract this. One of those is xrparcade.com. In this website, you can find a list of scammers that are trying to divulge doubtful information about Ripple and XRP. But there are other initiatives.

So how can you protect yourself from disinformation about XRP or any other blockchain project? Well, just make sure you keep reading honest articles. Like ours!

New members in the University Blockchain Research Initiative

UBRI was started last June 2018 by Ripple. It’s a research fund meant to create and support educational programs in blockchain technology all over the world. Last February 7th, Ripple announced that eleven new universities would join the program.

Those include Tsinghua University, the University of Sao Paulo, Northeastern University, the National University of Singapore, the Morgan State University, the University of Michigan, the University of Kansas, Georgetown University, Duke University, Cornell University, and Carnegie Mellon University. Plenty of names with huge prestige in the list, so the new UBRI members don’t lack academic credibility at all.

Investing in education has done wonders in the past for tech giants such as IBM, Apple, and Microsoft. This is, of course, a long-term effort so we’ll have to wait a few years before we can see this tree grow some fruits.

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.

Ric Edelman: A Bitcoin ETF is on the way

by

Creating a Bitcoin ETF has been a priority for many influential crypto players for months already (maybe more). But the road to an ETF has been almost as hard as Frodo’s road to Mordor.

Ric Edelman’s opinion

But Ric Edelman, founder of Edelman Financial Engines, appeared earlier today at CNBC’s ETF Edge at the Inside ETFs Conference in Hollywood, Florida. He had this to say on the subject:

“It’s virtually certain. The only question is when” then he continued: “The SEC has several legitimate thoughtful concerns that the industry has to overcome but I’m confident they will. Eventually, we will see a bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate.”

The Securities and Exchange Commission (SEC) has been walking with led shoes on the subject of cryptocurrencies. Are some of them securities? Are some of them actual money? And how can you tell the difference? Should these assets be available for the market at large?

And how should they be regulated? SEC has provided us with some answers to those questions, but some questions still remain, and they are getting on the way of mainstream adoption.

SEC’s decisions will be important because Bitcoin still lacks a secure chain of custody (in traditional terms, in practical terms, Bitcoin’s blockchain is most likely much safer than the traditional mechanisms).

On the other hand, SEC’s decisions will apply to the US only, which is not that important in crypto compared with Japan, China or Korea, so it will have no way of affecting international price flows or to governate trading platforms based overseas.

The big boys are interested

Mr. Edelman also explained that major financial institutions are interested in finding a solution that enables them to get a piece of the crypto action, and that could be enough for an ETF to go online eventually. The market is already there.

“We’ve got some serious players. Fidelity has made a major announcement in the custody issue. We’ve got Kingdom Trust and a number of other very serious players on the custody side. I’m confident that in very short order VanEck or Bitwise will satisfy the custody concern to the SEC,” according to Mr. Edelman.

Tom Lyndon has an opinion too

Tom Lydon, who is ETFTrends.com editor-in-chief joined the conversation to add that he already sees a huge demand for something like a Bitcoin ETF.

“There is pent-up demand. We interview advisors all the time. Seventy-four percent say they’ve talked to clients about their interests in bitcoin, so they need to step up when this happens because that money is going to go elsewhere,” Lydon contributed.

VanEck and SolidX are trying to get an SEC authorization to come up with the world’s first Bitcoin ETF. But they withdrew their application because Trump’s government shutdown could complicate things too much to get a resolution in time.

And why does any of that matters to you or me? Because many experts agree on something: the next bull run in crypto will be driven, at least partially, by institutional investors. So far, crypto’s players are small investors for the most part, and an ETF would be one of the ingredients that could change the market for good.

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.

Biopspace.com, Tron and the ALS Association launch the VoiceYourLove campaign for ALS awareness

by

Tron is going to join forces with Biospace.com and the ALS Association to create awareness for ALS. They are going to take advantage of the good wishes that are common during Valentine’s in many of the world’s countries to work together and make a difference.

In this article, we’ll tell you quickly who these three players are, and a little about the initiative as well so you can be aware and join it if you consider it a worthy cause.

Biospace.com

Biospace is an online platform that champions the industry of the life sciences by providing a hub for news and careers. While it’s now a fully digital resource, it’s been around since 1985, providing insights, opportunities, and connection tools for organizations and talented professionals who work on improving health and quality of life in the planet.

The website is the most comprehensive source for news and information in the life sciences. It breaks the news daily and helps investors and scientist to be up to date with the essential information on the medical device, pharmaceutical and biotech industries. As such, it’s quite an influential website that can generate traffic, relevance, and awareness for all the subjects it deals with.

Tron

Tron is a third generation blockchain-based programmable platform that allows for the development and deployment of decentralized applications and smart contracts. The platform includes a native cryptocurrency called Tronix (also known as TRX).

The Tron project was founded by Justin Sun, who already had fame and credibility as a technology investor and creator, and it has a very definite objective. It wants to decentralize the world wide web using its blockchain.

It’s become one of the most famous blockchain projects in the cryptosphere in a concise time (about a year and a half), and it’s managed to grow in a time in which most of the other projects in crypto are either shrinking or losing value.

The ALS Association

ALS is an illness better known as Lou Gehrig’s Disease. The association is committed to create awareness about it and fight it. In order to achieve those objectives, they look for all kinds of help. They’re especially adept at PR since that facilitates getting donations that can be used for the scientific research that could help eradicate ALS.

The campaign for ALS awareness

The new campaign is called “VoiceYourLove,” and it includes the help of several blockchain technology players (the Binance Charity Foundation will also help), several celebrities and some Silicon Valley giants.

Former “Friends” star Courtney Cox kind of launched the campaign by issuing a video in her Twitter account:

“@CourteneyCox
When was the last time you told someone you love them? Today we’re launching the Voice Your Love campaign to raise awareness about #ALS and bring a little more love into the world. @alsagoldenwest
#VoiceYourLove “

We wish the campaign great success. It will not only help the ALS community, but it will help crypto as well because it will show the world how the blockchain technology can be a force for good in the world (which remains a doubtful proposition for a lot of people on the earth).

You want to Join Tron in this kind endearue and donate? Excellent. Here is the official donattion page where you can donate TRX to support the cause.

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.

Editor’s Note: The article was updated to include the official donation page link.

The Internet will have a native currency: Joe Rogan meets the man behind Twitter

by

Joe Rogan

You probably don’t need us to tell you who is Joe Rogan. He’s a talk show host of a rather independent streak who often has fascinating guests featured in his show. He talks about everything (his box shows are particularly impressive).

He recently had Jack Dorsey as a guest. Mr. Dorsey is well known as Twitter’s founder and CEO. He is not as often in the spotlight as many other technology celebrities, but, as the man who still owns Twitter, he’s quite an influential element of the Internet in particular and of technology in general.

Jack Dorsey’s vision

The conversation shared by Mr. Rogan and Mr. Dorsey was quite interesting because it wasn’t centered about Tweeter as much as you could have imagined. It turned out to be very much about cryptocurrencies and cash, which is why it’s so exciting if you are involved with digital assets in any way. In this article, we’ll give you some of the highlights.

The first idea is quite appealing. Mr. Dorsey thinks that the internet will have a native currency sooner or later. While he didn’t commit to Bitcoin for that role (or to any other), he made it clear that it’s unavoidable and that it will happen.

He didn’t say when or how, but we also know that he’s deployed a cash app and that it includes Bitcoin as a currency.

Bitcoin, of course, would be the main suspect for sure. But it’s not the only one. BitTorrent is about to become a blockchain network running on Tron, and it already issues a token that will reward BitTorrent’s users (called BTT).

That’s not what Mr.Dorsey thinks or says, but if you take into account that BitTorrent has been the world’s largest decentralized network for years already and that it’s about to become part of the crypto world, it becomes a natural candidate, even if Bitcoin still holds all the advantages. It’s natural. It was developed, tested and studied on the Internet.

https://youtu.be/_mP9OmOFxc4

Mr. Dorsey explained how his company is the first publicly traded company to offer Bitcoin for sale to customers and how that wasn’t a walk in the park exactly. Also, a truly global currency would enable companies and people to be freer and move around goods, services, information, and money all around the world.

Bitcoin for wealth storage or for global transfers?

Then he went on and told Mr. Rogan how most Bitcoin users are not really using it as a retail currency, but as a means to store wealth (digital gold, if you will). This is not obvious if you take into account that Bitcoin’s main success so far has been precisely as a payments system. It already processes almost as much money as Visa and Mastercard, and yet, it seems that most holders are not using it that way.

Additional conversation subjects included protecting users by not allowing Bitcoin purchases through credit cards or by suppressing day trade so that these users who have their savings in BTC do not risk losing everything on a bad day.

These are interesting news. Even more so because in the current bearish market (which has been quite protracted already) it takes vision and bravery to still look at the crypto market and see the future that it can have fundamentally instead of just worrying about the currently low prices.

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.

Bithumb crypto exchange launches digital assets OTC trading desk

by

Bithumb, the largest Hong Kong exchange in terms of trading volume which majorly supports Bitcoin trading has recently launched Ortus’ backed over-the-counter exchanging desk. The platform is created on the idea of facilitating deep-pocketed investors to trade crypto off the books.

According to the press release made public on Feb. 7, Ortus’ backed OTC trading is regarded as the “service specifically for the institutional clients” by the exchange because of its assistance binding to the wealthy investors to perform large-volume trades, as it facilitates them to carry out direct trades that is opposite to the process done on the crypto exchange itself.

“Ortus will operate to allow institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best price execution service,” said by Rahul Khanna, the director of Bithumb.

Rahul Khanna further went on saying:

”Institutions trading digital assets need to open accounts at exchanges and OTC desks around the world; however, there is no real solution for an aggregated liquidity provider or a trusted interdealer where Institutions can trade these assets. To fill this market gap, Ortus will operate to allow institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best price execution service.”

To use the service; institutions first need to go through a strict on-boarding process which will be comprised of KYC (Know-Your-Customer) and AML (Anti-Money-Laundering) documentation provided by the applicants, the firm noted.

Although the firm has not announced about which crypto will be offered for OTC trading yet, but once all the required criteria for joining is met, customers will have the right to enjoy the exciting features provided by Ortus.

The ensured custody wallet, competitive pricing from the world’s largest OTC desks and liquidity providers, and a US-Based bank account are few of them.

More about OTC Desks

Ever since late 2017, when the reports about OTC market being noticeably larger than the cryptocurrency exchange market started to take place on the news realm, we have seen a significant number of exchanges having launched OTC desks over time.

Even Last year, TABB Group, international research and consulting firm focused primarily on capital markets, estimated the worth of OTC market of BTC to be 2-3 times higher than the exchange market.

To capitalize on the growing interests of institutions, many cryptocurrency exchanges worldwide have made moves into the over-the-counter (OTC) market ever since the report went public.

CoinBase, the leading crypto exchange and wallet provider from the US, had launched its OTC desks last year in November, for institutional customers. Poloniex also launched its over-the-counter trading desks for the wealthy investors, with a minimum order set to be of $250,000, the following month of December.

Last month of Jan has seen two notable digital exchanges Bittrex and Binance penetrating into the OTC market by introducing their own OTC desks.

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.

Tron and Play_Goc are taking over the world

by

When Tron became an independent network from Ethereum last May, there was a lot of talk about “the Ethereum killer.” It was suspected that title would go to Tron, or EOS, or Cardano.

Some observers thought that Ethereum was just unbeatable, and some were very optimistic about Tron’s and EOS’s potential. It’s been almost eight months now, so what are the stats showing us?

The second most used dApp in the world

You can monitor the world’s decentralized applications as closely as you want. For that, you could use several resources. Among those, there is the dappradar.com website which tracks the number of users and token flow that is going through every dApp in the world every day.

By the site’s standards, the top ten dApps are running on Tron and EOS (noticeably, not on Ethreum). Five of those run on, Tron, and the rest on EOS.

Among those five apps running on Tron Play_Goc stands out.

It’s a gaming and gambling app that features traditional betting games such as Blackjack, but they have a plus: they are decentralized, and they offer fair odds to players, which is something you could never expect at a traditional gambling website in which the house must always have an edge. Which is not wrong, the house must be able to make a buck by letting you play.

The app is serving 6,600 users every day, and it supports a wide variety of digital currencies. TRX is the main among them because all the others are Tron-based tokens (BTT, PLAY, SEED, IGG, ANTE, LVH, and GOC).

Tron is taking over

And why is this so important? Because it means that Tron’s blockchain and community of developers are finding the way to develop and deploy exciting apps that attract users that are excited about the project and the project’s native token (Tronix, or TRX).

So Tron is managing to position itself as the Ethereum killer indeed. Why? Because Tron can boast a million more users (or at least confirmed accounts) than EOS.

It’s all about the use case

So this app is a use case for TRX but also for many other Tron-based tokens. And that’s quite important. The Tron community is very bullish about the Tronix coin, and they like buying it and using it to support the network’s apps. This is very important because this kind of interest from users is the thing that creates genuine demand for the digital asset and that demand will end up translating into market performance.

And that’s what we’ve seen recently. Tronix remains a relatively cheap cryptocurrency but over the last couple of months, it went from 11th place to market capitalization to 7th. And then it lost a spot, to stabilize at 8th. Keep in mind that Tron has been moving forward and growing in a year in which most other projects have been shrinking, losing people and value. So that growth is very impressive from any way you could see it.

Tron is here to stay because it’s giving us interesting apps. And Play_Goc is top on that list.

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.