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TRON (TRX) Up Almost 50% This Week

The world’s eighth-largest cryptocurrency, TRON (TRX), is making quite the bull-run this week. Throughout the entire crypto community, it is known that TRX, in the past, has been ‘pumped up’ on announcements of ‘potential partnerships.’ Justin Sun, TRON’s founder, is notorious for these types of marketing schemes via Twitter.

Is this the cause of TRX’s most recent bull run? Let’s find out!

 TRON (TRX) Up Almost 50%

The big bull run started on January 7th. On this day, Justin Sun released two tweets.

The first tweet was an outlined weekly report TRON’s developers have released ever since late-2017. Just after this report was released, Sun announced that TRX was available on BitKeepOS.

BitKeepOS is a decentralized multi-chain wallet that is in 16 different countries and is used by millions of users. It remains unknown at this time if this is the cause for the coin to rise, but this is the only piece of news that could have contributed.

A few months back, TRON acquired BitTorrent, and the company has been steadily working on that project. The company just released a whitepaper on the new BitTorent Token (BTT).

The new whitepaper reads:

“TRON Foundation and BitTorrent Foundation are introducing a new cryptographic token called BTT along with an extended version of the BitTorrent protocol in order to create a token-based economy around the usage of networking, bandwidth and storage on hundreds of millions of computers on the internet. Our initial entry point is to introduce token-based optimizations to the existing BitTorrent protocol providing a way for the value of sharing bandwidth and storage to be captured by network participants beyond the point at which the current protocol no longer values it.”

Today, Cointelegraph reported that TRON has also secured its first Chief Compliance Officer that has a background with the SEC. This news may also be the cause for TRX’s rise on the market in the last 24 hours.

>> TRON Hires Former SEC Attorney: TRX Soars Today!

There has been quite a change in the company’s marketing tactics, though. It seems Justin Sun has dropped the ‘announcement of a future announcement’ tactics and only releases news when it’s something substantial—a positive step for the crypto community as a whole.

TRX Price Movement

According to CoinMarketCap, TRON (TRX) is currently trading at $0.029 a coin, up 14.18% in 24 hours.

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TRON Hires Former SEC Attorney

The 8th largest coin by market cap, TRON is running away with the gains today. According to coinmarketcap.com, TRX is up over 12% on the day, selling for just under $0.03 USD.

The reason for its bull run is a somewhat tongue-in-cheek new hiring. The blockchain platform has hired a former US Securities and Exchange Commission (SEC) supervisory attorney as its first chief compliance officer.

Anyone else finding this news ironically wonderful?

TRON made the announcement earlier today.

TRON Hires Former SEC Attorney

David Labhart, who used to work for the SEC as an attorney, is also being given the task of co-general counsel at TRON.

The company is deemed somewhat controversial mostly thanks to the publicity stunts of CEO Justin Sun. 2018 has been a good year for the blockchain, however, and it has grown steeply; it currently boasts over 1 million registered users. TRON is often considered a rival to the Ethereum blockchain in particular, as both focus strongly on dApp support. It was built as an alternative token development platform to Ethereum. As such, Sun regularly hits out at the Ethereum network.

>> Ethereum Hard Fork Draws Near: ETH up 71% on Verge of Update

TRX

TRX has climbed steadily this week, but today’s gains make it the best daily performer in the top ten.

Cryptocurrency regulation is no joke in the US. The ambiguous restrictions surrounding cryptocurrency make it increasingly difficult to trade in the assets. The issue lies with the true ‘class’ of digital coins as the Government body does not consider them viable securities.

The SEC has shut down hundreds of ICOs purporting to launch new coins into the space as a result

So it’s a tad ironic that TRON’s latest employee is a former SEC official. It is a very fitting action made by a controversial brand and surely has been done to make a point.

It wouldn’t be worth it if it didn’t raise a few eyebrows after all!

Featured Image: Depositphotos © Primakov

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Stellar vs. TRON | Is There Really Any Competition?

Stellar vs. TRON—the debate all started with an interview. Jeb McCaleb, a co-founder of Stellar (XLM) and founder and former CTO of Ripple, interviewed with Yahoo Finance on New Year’s Eve. During the interview, the crypto pioneer mostly answered questions about Stellar but didn’t shy at taking jabs at other projects outside of Ethereum (ETH), Bitcoin (BTC) and XLM—specifically TRON (TRX).

Stellar (XLM) vs. TRON (TRX)

McCaleb wasn’t necessarily comparing the two projects, hand-for-hand. Considering Stellar is a more centralized project, and TRON is decentralized focusing specifically on dApps.

The Stellar (XLM) co-founder was asked about the general ‘temperature’ in the crypto industry now and what he took away from the past few years. McCaleb states that he was amazed by how “hype-driven” the industry has become.

“The allocation of capital and resources is wild to watch, when these projects that have zero technical merit get millions of dollars,” McCaleb explained.

McCaleb continued:

“It seems like a big shame. Hopefully, that will start to change. One of the nice things that comes with the market calming down—I still say it’s not a bear market—it means there’s less of that. Ninety percent of these projects are B.S. I’m looking forward to that changing. Things like Tron, it’s just garbage. But people dump tons of money into it, these things that just do not technically work.”

Ouch.

>> Dark Overlord: Hacker Group Demands Bitcoin or 9/11 “Truth” Comes Out

There was no way TRON (TRX) enthusiasts were going to let that one slide. Some even went as far as compiling the transaction figures comparing TRON and Stellar.

Even TRON’s founder, Justin Sun, responded to reports of McCaleb’s interview.

No matter what project you prefer, the transaction numbers don’t lie. TRON (TRX) is completing far more transactions than Stellar (XLM).

On the flip side to combat Sun’s point, applications can be built on top of the Stellar Network. While they aren’t decentralized, the network can be utilized for much more than just monetary transactions.

To compare the two projects fundamentally would be silly, as they are built entirely different and built for different things. Whether they’re both functional or not is another story.

Stellar (XLM) and TRON (TRX) Movement

According to CoinMarketCap, XLM is currently trading at $0.11 a coin, up 2.03%. It remains the sixth-largest cryptocurrency by total market cap. TRX is currently trading at $0.019 a coin, up 4.98% in 24 hours. TRON remains the 10th largest cryptocurrency by total market cap.

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Litecoin (LTC), TRON (TRX), and ZCash (ZEC)

Cryptocurrencies made a strong comeback in the middle of the week, after posting 2018 lows a few days prior. Investors began dumping digital currencies after Bitcoin Cash miners decided to split the chain in two. After the hard fork, an all-out hash war began, and investors weren’t pleased. Investors began buying back digital currencies when various crypto-positive news announcements were made earlier this week. Most coins have since corrected from their gains, but Litecoin (LTC), TRON (TRX), and ZCash (ZEC) are still in the green for the week.

Let’s take a closer look at these coins and their latest updates.

Litecoin (LTC)

At press time, most top 20 cryptocurrencies are trading red. LTC is currently trading at $32.07 a coin, down -6.05% in 24 hours. For the week, however, the seventh largest digital currency is up by 0.16%. While this may not seem like a lot, most top digital currencies are seeing losses this week near the double-digit percentages.

The Litecoin Foundation and Charlie Lee, its founder, haven’t announced any big changes to the Litecoin network recently. Lee did weigh in on the BCH hash war though.

TRON (TRX)

TRON, the world’s 12th largest cryptocurrency, is up 4.98% this week. At press time, TRX is trading at $0.0142 a coin, down -9.72% in 24 hours. The blockchain project is known for juggling many different plates when it comes to the development of their project. Early this morning, the TRON team released its weekly dApp report.

In addition to this, earlier last week Justin Sun, TRON’s founder, announced that TRON had reached nearly 2 million Txs per day.

That’s definitely something worth celebrating.

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ZCash (ZEC)

The world’s 19th largest cryptocurrency was just added to a major US exchange. While it is currently trading it the red, the digital currency is up 4.22% for the week. At press time, ZEC is trading at $79.38 a coin, down -1.98%, in 24 hours.

Major US exchange Coinbase Pro has officially added the privacy-focused digital currency to its trading platform. It remains unknown at this time why ZEC was chosen over other top digital currencies, but its rise this week no doubt has mostly to do with this announcement.

What do you think about Litecoin (LTC), TRON (TRX), and ZCash (ZEC) this week?

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TRON (TRX) ‘Partnership’ with Baidu has Nothing to do with Blockchain

The TRON (TRX) and Baidu ‘partnership’ all started with a tweet.

TRON’s founder, Justin Sun, is notorious for vague ‘pump’ tweets and this one was no different. TRON’s ICO ended at the beginning of Sept 2017, and that’s when the “wait for our next big partnership that’s coming soon” marketing tactic began. In the beginning, it was effective. Sun would post a tweet of this nature and TRX would jump in price. Eventually, investors stopped listening because the partnerships made weren’t as big as expected.

Unfortunately, when TRON completed its mainnet and various other foundational milestones worthy of a price pump, investors were burnt by the project’s previous marketing tactics and didn’t purchase TRX.

TRON (TRX): The Boy Who Cried Wolf?

It seems the TRON team is sticking to what they know and it seems to have worked again. TRX soared 10% in price when the unconfirmed reports specified that Baidu was the ‘mystery’ partner. There has yet to be an official announcement made by either TRON or Justin Sun about this said partnership.

According to the Chinese crypto news site Odaily, TRON is only renting cloud server space from the Beijing-based tech giant.

The translated press release states:

“Wave Field TRON will build compatibility with Baidu Cloud to build, operate and debug blockchain products to optimize compatibility and optimize the development experience.”

Criticism

Justin Sun’s “announcement of an announcement” tweets have been a long joke in the crypto space, and even Vitalik Buterin has poked fun at it. While it may be a good joke for some, others aren’t laughing.

Back in January, Sun pulled a similar tactic with TRON’s partnership with Baofeng. The founder called Baofeng the Chinese Netflix, but instead, it’s more of a video player software. Also, the partnership wasn’t with Boafeng, but a subdivision of the company—stretching the truth a little bit.

We will see what TRON and Justin Sun have to officially say about the matter if they even acknowledge it at all.

TRX Price Movement

According to CoinMarketCap, TRX is currently trading at $0.0246 a coin, down -1.97%.

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