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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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Ripple (XRP) and TRON (TRX) Prices Slide Despite Major Progress

The cryptocurrency market is trading in the red again today. Bitcoin (BTC) has just dipped below the $6,600 mark and Ethereum (ETH) is trading just above $225. Both Ripple (XRP) and TRON (TRX) are sliding down today, despite both announcing major news regarding their projects recently.

Let’s take a closer look at Ripple and TRON and their latest project advancements.

Ripple (XRP)

Ripple concluded its Swell 2018 conference last week in San Francisco.

In addition to the conference, the Money Tap app powered by Ripple’s xCurrent software just launched in Japan. There has been lots of movement for Ripple over the last two weeks. Less than 24 hours ago, the cryptocurrency project announced that David Schwartz, Ripple’s CTO, will be a featured speaker at SXSW 2019.

Ethereum’s co-founder and ConSynsys founder, Joe Lubin, will also be speaking at the conference.

Despite the positive news, XRP has been backsliding on the market this week. According to CoinMarketCap, XRP is currently trading at $0.469 a coin, down -1.24% in 24 hours. For the week, the cryptocurrency is down -10.83%.

>> Ripple’s xRapid Expands into Commercial Production

TRON (TRX)

The TRON Foundation is currently voting on the release of the TRON Virtual Machine.

There seems to be some confusion among the cryptocurrency community, as TRON’s Founder Justin Sun has said one thing while the TRON Foundation is tweeting something different.

As you can see below, the TRON Virtual Machine was supposed to already be launched by now (according to Sun), but the TRON Foundation says voting is still taking place. It seems Sun may have jumped the gun on the announcement dated on the seventh.

So, has Odyssey 3.1 been released yet? Doesn’t seem so.

Despite the confusion, the TRON Foundation is trucking along as usual and has announced its new developer suite.

This will go live once the TVM is released on the new mainnet version.

According to CoinMarketCap, TRON (TRX) is currently sitting as the eleventh largest cryptocurrency by its total market cap. At the time of writing, TRX is currently trading at $0.0250 a coin, down -1.85%.

Check back in for more news from coins like Ripple (XRP) and TRON (TRX).

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Cryptocurrency Market Fall | EOS, Litecoin (LTC), & Tron (TRX)

As we start out the fourth week of August, we see most of the cryptocurrency market fall. Bitcoin (BTC) is trading just below $6,500 and Ethereum (ETH) has once again dipped below $300. This weekend, the market took a slight rise and almost peaked over $225 billion, but has since been corrected.

Let’s take a look at EOS, Litecoin (LTC), Tron (TRX), and their latest project updates today.

Cryptocurrency Market Fall – EOS

For the third month in a row, EOS has been given the top rating spot on China’s national blockchain ratings. The CCID Research Institute in China gives out blockchain ratings once a month and EOS has been their top choice the past month and a half.

The top ten ratings are as follows:

  1. EOS
  2. Ethereum
  3. Komodo
  4. Nebulas
  5. NEO
  6. Stellar
  7. Lisk
  8. GXChain
  9. Steem
  10. Bitcoin

This weekend, EOS regained its spot as the fifth largest cryptocurrency, as Stellar briefly passed the cryptocurrency for a few days.

At press time, EOS is trading at $5.13 a coin, down -2.85% in 24 hours.

Cryptocurrency Market Fall – Litecoin (LTC)

There hasn’t been any big news regarding Litecoin lately. There have been no new partnerships or updates to the Litecoin network.

The first Litecoin Summit will be held in San Francisco mid-September.

Litecoin’s founder, Charlie Lee, will be speaking at both days of the event and there will be a meet and greet after day 2.

Also, eToro published its own market research on Litecoin recently. The research document summarized Litecoin’s 2018 price drop by saying:

“Given that Litecoin has an established and stable working product, as well as significant adoption, this bear market of the whole cryptocurrency industry could have lead to Litecoin being oversold.”

Cryptocurrency Market Fall – Tron (TRX)

Just recently, the Tron Foundation made the official announcement that it had acquired BitTorrent and not all Tron enthusiasts are thrilled. Even some BitTorrent investors weren’t happy with the acquisition either. However, what’s done is done.

Bram Cohen, the inventor of BitTorrent, has also officially stepped down from his role within the company fairly quietly but people have taken notice.

According to the Next Web:

“TorrentFreak reports that Bram Cohen has severed ties with BitTorrent Inc, the company that he founded in 2004, after inventing and launching his Torrent protocol three years earlier. There has been no official announcement from TRON or the BitTorrent inventor on this development. TorrentFreak received an auto-response after trying to reach out to Cohen’s BitTorrent email, it became clear that the address was no longer active.”

>> Crypto Daily News: Bitcoin Cash (BCH) Futures Launched & 21-Year-Old Charged with Bitcoin (BTC) Money Laundering

Frankly, this makes total sense as he sold over his company to Tron for over $140 million and can’t expect to have control of what happens with his company.

At press time, Tron remains the 12th largest cryptocurrency by market cap and is trading at $0.0218 a coin, down -1.97% in 24 hours.

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Altcoin Gainers Today | EOS, Tron (TRX), & VeChain (VET)

Only a handful of coins in the top 100 cryptocurrencies are seeing losses on the market this morning. After a rough start to August, it seems the market has begun correcting itself again. At press time, Bitcoin (BTC) is trading just below $6,500 and Ethereum has just passed the $300 threshold.

EOS, Tron (TRX), and VeChain (VET) are all altcoin gainers today – let’s take a closer look at their prices and latest project updates.

Altcoin Gainers Today: EOS

EOS was passed by Stellar earlier this week for the fifth largest cryptocurrency by total market cap. However, the cryptocurrency has gained momentum in the last 24 hours and is back to fifth.

Block.one, the software publisher that designed EOS, is currently holding its EOS global hackathon to incentivize dApps to be built on top of EOS. Two of the competitions have already been completed and two more are set to occur in the next coming months.

Block.one will release the dates for the fifth ‘finale’ hackathon in December. The top three winners from each hackathon will compete in the grand finale.

At press time, EOS is currently trading at $4.86 a coin, up 3.22% in 24 hours.

Tron (TRX)

Tron recently dropped to the 12th largest cryptocurrency by total market cap, but has received a boost on the market today and is seeing over 10% gains.

Justin Sun, Tron’s founder, just made the announcement that his project has just completed the acquisition of Blockchain.org. The coin’s boost must be due to this announcement just three hours ago.

>> After Months of Waiting, JD.com Launched its Blockchain Platform and Mobile App

At press time, TRX is trading at $0.0215 a coin, up 10.34% in 24 hours.

VeChain (VET)

This morning, VeChain is among the top coins with the most gains on the market.

Yesterday, the VeChain Foundation put out this announcement but there doesn’t seem to be a clear indication why the coin has spiked so rapidly. The usual ‘pump’ tweets are all over Twitter but those are to always be ignored.

At press time, VET is trading at $0.0149 a coin, up 48.35% in 24 hours.

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Ethereum (ETH), TRON (TRX), and IOTA (MIOTA) Lose Big

The crypto market has been taking quite a beating these past 36 hours. Bitcoin (BTC) is currently trading around the $6,000 mark and currently holds 54% of the total market dominance. Many of the altcoins are suffering, especially Ethereum (ETH). We’ll also take a closer look at TRON (TRX) and IOTA (MIOTA), two other altcoins on the market that are currently suffering big.

Ethereum (ETH) News

Yesterday, the second largest cryptocurrency by market cap fell to its year-low of under $300. According to CoinMarketCap, ETH is trading at $261.46 a coin, down -15.01% in 24 hours.

The last time Ethereum traded at these levels was back in November of 2017. It remains unknown if investor confidence has fallen with Ethereum specifically or if it’s just an overall crypto sell-off.

Ethereum developers are frantically trying to come up with a solution to solve Ethereum’s scalability issue, and presently, there are many options on the table.

TRON (TRX) News

Despite having its mainnet launched and running smoothly, TRON has fallen to the 12th largest cryptocurrency by its market cap just behind IOTA. This week, TRON has been passed by Monero (XMR) as well as IOTA.

There hasn’t been a specific instance that has caused TRX to drop, as its mainnet has been running fairly steady.

At press time, TRX is trading at $0.0175 a coin, down -19.55% in 24 hours. For the week, TRX is down -41.07%, and for the month, the coin is down -47.60%.

>> IOTA Founders Brawl

IOTA (MIOTA) News

IOTA had a shaky week last week, as two of its co-founders engaged in an altercation that was made public. After the transcript was leaked to the press, IOTA made a formal announcement about the altercation and how they eventually resolved the conflict.

Despite the IOTA Foundation giving a formal explanation, it seems investors aren’t too confident in the young leaders. However, MIOTA’s dip could very well be just a market trend.

At press time, MIOTA is trading at $0.424 a coin, down -18.73% in 24 hours. IOTA is ahead of TRON as the 11th largest cryptocurrency by just over $50 million.

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