TRON Price Analysis — February 26

TRON Price Analysis — February 26

TRON’s (TRX) mainnet continues to lag in terms of transactions, as Binance Smart Chain (BSC) hits 2.7 million in just 24 hours.

For better understanding, Ethereum (ETH) has just 1.2 million transactions. The influx of users to the BSC is likely as a result of the low fees offered by the platform, which makes transactions easier to facilitate.

On BSC, users are required to make payments using Binance Coin (BNB), which has boosted the price of the cryptocurrency in the market. Meanwhile, the exchange (Binance) also records about $1 billion in trading volume daily.

On the other hand, it has been more than a year since TRON’s mainnet got launched, but the network took 417 days to record its 3.5 millionth transaction. Creating an account on TRON’s mainnet is easy. This easy accessibility previously sparked concerns about how many of these accounts were not linked to real people.

Nonetheless, TRON’s DeFi ecosystem is performing incredibly well and has now exceeded a valuation of $5.7 billion.

Despite some positive growths in the network’s ecosystem, the price of its native cryptocurrency (TRX) is having a hard time reflecting the growth. However, TRON enthusiasts believe that this is a sign that the fundamental standings of the network are solid, but are yet to gain the attention of the cryptocurrency community at large.

TRX – 4-Hour Chart

Key TRX Levels to Watch — February 26

TRX remains in a bearish mode as the entire cryptocurrency market recorded a second crash this week. We expect the cryptocurrency to facilitate a rebound around the $0.0412 support to the $0.0500 resistance in the coming days. On the flip side, a sustained break below the $0.0400 support is very unlikely at the moment.

Meanwhile, our key resistance levels are at $0.0461, $0.0500, and $0.0514. While our key support levels are at $0.0412, $0.0350, and $0.0300.

Total Market Capitalization: $1.42 trillion

Tron Market Capitalization: $3.2 billion

Tron Dominance: 0.2%

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Have you invested in an extremely rare opportunity of a lifetime?

Have you invested in an extremely rare opportunity of a lifetime?

The Next “Buzz Word” Altcoins
Last month, the Bloomberg Galaxy Crypto Index was at 1414.37, following a low of 217.82 in early March. BTC had made a new high yesterday at $51,630.86. Today (February 17) and the index was at 2,295.61. That’s a huge gain for one month.

Let me put this into perspective. In late 2017, I said that cryptoassets were the biggest institution revolution since the Industrial Revolution and that they represented the investment of a lifetime. Institutions, however, were not ready or capable of participating in that revolution so they “pooh-poohed” it. The SEC decided that most altcoins were securities which precipitated a huge bear market. By the end of 2018, cryptos had undergone an 85% decline and BTC hit a low price of $3,236.76 on Dec 15, 2018. But then look what happened.
BTC was up 92.71% in 2019
It was up 305.94% in 2020
And it’s up 75.42% in less than 50 days of 2021….

What did I say in 2018? There was actually a period from October through November last year when I made over $3 million in 7 weeks. Cryptos are the investment of a lifetime.

While BTC could go up another 10 fold in the long run, I doubt that it will go much over $100,000 this year…. But the opportunity of a lifetime is not over because now the altcoins are starting to move. Here are a few examples, and this is just the movement in 2021.

BNB 289%
ETH 144%
LINK 178%
SNX 215%
AAVE 397%
CND 145%

And remember those gains are just from the 48 days of 2021….

You can purchase crypto coins here.  

Update on Cryptoassets
I think that there are a number of altcoins that could go up 10 times or more during the rest of 2021. Now we might have a decline of 40% or more during the year, but it probably will be short-lived with a very quick recovery…
BTC was up 92.7% in 2019, 305.94% in 2020, and in the first six weeks of 2021, it’s up 74.22%. Let’s contrast that with the other hedge against the USD and disaster, gold. Gold was up 20.94% in 2019, up 18.32% in 2020, and it’s down 5.1% so far in 2021. The path of safety is now BTC.

Gold has about 10 times more market cap than cryptos right now (even though cryptos are now over a trillion for the 1st time). If all of the money in gold went into BTC, BTC’s price would be about $370,000…

People talk about BTC being volatile and risky. But where can you find something that has made over 1,000% in 3 of the last 11 years, over 100% in 8 of them, and had only two losing years? There is only one other place than BTC with anywhere near equal performance – other cryptoassets.
If you had bought BTC at the beginning of 2012 (well, not at the very beginning), you would have turned $1,000 into more than $7.1 million (up $4.5M last month)…

Remember these are 30-day percent gains. This is probably the easiest market possible to make a lot of money. You could, however, just as easily enter a position and immediately have a 25% drawdown – which could cause you to exit and then miss out on some nice gains. If you don’t have strong beliefs about cryptos like I do, crypto volatility will test you…

This newsletter makes no recommendations about cryptos but is a free service… I personally own positions in most of the cryptos mentioned in this newsletter.

Author: Van K. Tharp, PhD

Note: This article was culled and abridged from a monthly cryptos update by Dr. Van Tharp. The full article can be accessed here.

You can purchase crypto coins here. 

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Tron Expands Its Presence in DeFi Through a Partnership With Reef Finance

Tron Expands Its Presence in DeFi Through a Partnership With Reef Finance

Reef Finance, a cross-chain DeFi platform, has announced that it has established a strategic partnership with Tron (TRX) to build its DeFi ecosystem. The association with Tron will help Reef Finance users gain direct access to Tron’s DeFi applications and TRC-20 via the platform.

Reef Finance provides an intelligent liquidity aggregator and yield generator engine and was launched in December last year on Binance Launchpool. The platform is also built on Polkadot (DOT), thereby supporting cross-chain capabilities for DeFi.

That said, interoperability will help Reef integrate nicely with Tron’s TRC-20 tokens for DeFi use, including lending and borrowing. The CEO of Reef Finance, Denko Mancheski, spoke on the integration recently, noting that “this partnership with Tron is an extension of Reef’s efforts to collaborate with the biggest players of the DeFi world. To provide curated yield opportunities on leading DeFi platforms all under one roof and establish the platform as the easiest way to get into DeFi.”

Tron, the twenty-first-largest cryptocurrency by market size, is still relatively new to the mainstream DeFi space. The company funded some of its leading projects like JUST and JustLend to boost their prospects of hopping on the DeFi train. That said, Tron is still on the prowl for more mainstream DeFi partnerships, and we could see more collaborations in the coming weeks.

TRXUSD – Hourly Chart

Key TRX Levels to Watch — February 19

TRX is currently trading on very bullish momentum most likely riding the wave of the recent Bitcoin spike. The cryptocurrency recorded a new all-time high around $0.6482 earlier today, posting more than 21% in gains from its daily low. However, the cryptocurrency has recorded a modest correction over the past few hours to the $0.6000 psychological support, where it’s currently consolidating around.

That said, we expect the $0.6000 support to serve as a rebound zone for the TRX in the coming hours or days, likely taking the price to the previous ATH and higher.

Meanwhile, our key resistance levels are at $0.0648, $0.0700, and $0.0750. While our key support levels are at $0.0600, $0.0556, and $0.0514.

Total Market Capitalization: $1.63 trillion

Tron Market Capitalization: $4.4 billion

Tron Dominance: 0.27%

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.