Have you ever heard of a Crypto currency with the name of TRON? well TRON is up 100% in one day alone reaching the market cap of $10 Billion as 4rth Jan 2018, making it the 10th most valuable Crypto currency in the world.
Forget about Bitcoin, these smaller coins are making massive gains for the investors, TRON is a crypto currency focusing on worldwide free content entertainment system by integrating Blockchain Technology is up as much as 110% in a single day according to the data compiled by coinmarketcap.com.
What is TRON?
According to the official information given on the website
TRON is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription and push of contents and enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem.
Peiwo App with over 10 million users will become the first TRON-compatible entertainment APP.
TRON’s team members are followers of Sir Tim Berners-Lee, who are convinced that protocol, from the moment of its invention, is an asset for human beings, rather than a profit-making tool for small groups. Hence, TRON has established the Singapore-based Tron Foundation, a nonprofit organization that mainly engages in operating the TRON network in the principles of openness, fairness and transparency and supporting TRON’s development team.
The Tron Foundation is set up with the approval of the Accounting and Corporate Regulatory Authority (ACRA) and under supervision and regulation of the Company Law of Singapore. It is run by the Board of Trustees or the Board of Governors formed by eligible trustees for independent management and operation, which is also independent from the government’s administration.
Singapore is renowned for its stable and well-established laws and financial environment. As a nonprofit entity established in Singapore, the Tron Foundation, subject to the laws of Singapore, is a legal entity having no commercial interest that supports and engages in activities for public or private benefits. The “profits” obtained by the Foundation are deemed surplus and will be retained for the organization and implementation of other activities and events. Members of the Foundation will never partake any distribution of profits.
Smaller coins but massive gains
These smaller coins are providing huge gains for the investors as they are sky rocketing with overall market trend, TRON is a prime example which gained more than 100% in single day, so if you are looking for short term gain, you need to do your research to find these opportunities.
Take a Crypto Pill
Crypto market is crashing, we all know that, panic sellers are taking over the market with massive sell-off. You can’t control that, just calm down and take a Crypto Pill to make things easy.
Crypto Pill is the term being used by industry leaders to make things calm down from recent fiasco, yesterday a leaked news from CFTC about Bitfinex and Tether made things even more difficult for crypto traders, short sellers went all into the market with massive short bets, and they won, Bitcoin price slipped below $10000 level to as low as $9500, but later on recovered to $10K , but selling pressure is still there.
First South Korea and now US
First it was South Korea, the country with massive trading volumes in crypto market, they announced to ban anonymous crypto trading and ban took place effective from 30th Jan 2018, then a sudden news came from US market when Bloomberg broke the news that US financial regulatory authority CFTC investigating Tether and Bitfinex, but later on it was confirmed that news was from December last year, which made market calm down a little bit after all that tension and hype about US crackdown on crypto currencies.
HODLers will take over market soon
Despite of all this fiasco, Hodlers are still holding their Crypto currencies, they are not giving up and they holding for their dear life, it is very much possible that they take over this market in near future, making another uptrend in coming months.
Venezuela is the cheapest country to mine Bitcoin
Cost of mining one Bitcoin in Venezuela is just $531
Most expensive country to mine Bitcoin is South Korea, where cost of mining one bitcoin is $26,170
After recent crackdown by Chinese Government on Bitcoin miners, most talked about topic in bitcoin community is that which country would Chinese Bitcoin miners chose to shift, as many research firms were working to find the best possible option for the miners, one of the best option is Venezuela, where cost of mining one bitcoin is the cheapest, just $531, as compared to China where cost of mining one bitcoin $3172.
Others with lower costs are Bangladesh, Belarus, Paraguay, Serbia and Trinidad & Tobago. The most expensive is South Korea at $26,170 per coin. The U.S. cost is $4,675.
Calculations for the amount of energy consumed were based on the average usage of three popular types of mining equipment: the AntMiner S7, the AntMiner S9 and the Avalon.
Bitcoin mining consumes a lot of energy and according to one estimate, Bitcoin mining currently consuming energy which is more than 159 countries, including countries like Ireland
Crypto trading volumes are dropping
Volumes in crypto market are dropping, indicating an alarming situation. Crypto market started this year on a good note but later on crashed to low levels, apart from Ethereum, all other major crypto currencies are down for 2018, but one of the most alarming situations in this matter is that trading volumes on different exchanges are dropping to lowest levels in recent months.
For example, on Bitfinex current trading volume of Bitcoin is at around 25000 which at one point of time was as high as 160000 , which means this volume is not even 20% of its peak volume. Similarly in the case of Ripple, current trading volume is 8 Million which at one point of time was 50 million, so there is an alarming situation in that regards because not only price is dropping but crypto trading volume is also dropping dramatically.
Lack of interest?
One of the key questions that analysts are asking these days is that, is it lack of interest from investors that volumes are so low? may be they have found new investment opportunity in the form of S&P 500 and Gold. Most of the analyst think that this low activity is due to the reason that market speculators are currently out of the market and in wait and watch situation to make an entry point.
Calm before the storm?
Such low volumes and price movement in a tight range suggest that this is the calm before the storm, many regulatory authorities around the world are trying to stop crypto trading by either putting complete ban or by introducing tight laws, so speculators and institutional investors are just waiting for a clear picture so that they can make their bet on it, but one thing is for sure that sooner or later market is due for heavy movement in either direction, so day traders need to watch out.
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