Bridge Oracle Teams Up With TRON to Launch Mainnet

Bridge Oracle Teams Up With TRON to Launch Mainnet

Bridge Oracle has announced that it will be launching services on its mainnet that will enable users to use real-world connected decentralized applications (dApps) on the TRON network.

The release of a mainnet is always an exciting moment for blockchain projects, as it means that the blockchain is officially open to the general public, which bolsters mass adoption and use. A launch of mainnet services by a blockchain extends its official product to the market, making them available for real-time operation and production.

A spokesperson for Bridge Oracle noted that: “It’s an exciting moment for us to announce the launch of our upcoming services on mainnet. We have waited for this moment for so long, and to see it finally unveiling feels extremely special. Our upcoming mainnet launch will allow you to deploy real-world connected DApps using Bridge Oracle on the TRON network. It’s about time you start to prep up by creating your DApps on Shasta and Nile testnets. We will soon be coming up with more updates.”

The spokesperson added that the public quotient of Bridge Oracle, which will provide better opportunities for small businesses to integrate themselves on the TRON blockchain.

TRXUSD – 4-Hour Chart

Key TRX Levels to Watch — March 5

Despite the marked decline in the cryptocurrency market, TRON (TRX) appears to be maintaining a mild bullish momentum. The twenty-second-largest cryptocurrency is currently trading within an ascending channel, although it is starting to slow down amidst thin trading volume. TRON has to break above the $0.0514 resistance before bulls get reinvigorated or risk falling into consolidation.

That said, any bearish move from this level would get rejected by the $0.0480 area (the base area of our channel).

Meanwhile, our key resistance levels are at $0.0514, $0.0556, and $0.0600. While our key support levels are at $0.0461, $0.0412, and $0.0350.

Total Market Capitalization: $1.44 trillion

Tron Market Capitalization: $3.5 billion

Tron Dominance: 0.24%

 

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TRON Partners With Prosper Bolster Liquidity in the Prediction Solution Industry

TRON Partners With Prosper Bolster Liquidity in the Prediction Solution Industry

TRON has announced that it will be integrating the DLT-agnostic market, Prosper, into its ecosystem. TRON users and TRX holders will have the ability to provide liquidity and enhance the success rate of the prediction solution project.

The founder of TRON, Justin Sun, broke the news on the new partnership in a press release earlier today. He noted that the two blockchain projects are coming together to solve some problems rooted in the decentralized prediction sector.

Bettering the Prediction Solution Sector
Although tools for solving the problems in the sector have been active for a while, Sun’s statement highlights that the issue of insufficient liquidity has been a significant roadblock to mass adoption in the prediction sector. The liquidity insufficiency occurs because each prediction market “has traditionally been segregated to a single chain,” thereby limiting the number of users necessary to provide adequate liquidity for accurate predictions.

This is how Prosper works: it fosters higher liquidity by involving more users, which means more “predictions are made, leading to a more accurate and robust prediction outcome based on greater collective insight from the crowd.”

Furthermore, Prosper has a cross-chain platform that allows it to aggregate liquidity into its platform regardless of the user’s point of access.

That said, with the use of TRX, the twenty-fifth-largest cryptocurrency based on market cap, TRON and Prosper anticipate a significant increase in the underlying pool of users. Meanwhile, the integration will help users gain access to new applications that could positively affect their investment strategies and potential earnings.

The statement also mentioned that Prosper has set up a free insurance pool consisting of emergency funds to reimburse stolen funds from hacks on the platform or other unexpected downturns.

According to the co-founder of Prosper, Iva Wisher, “this partnership with TRON is an extension of Prosper’s efforts to collaborate with the biggest players of the DeFi world.”

Meanwhile, the press release also highlighted that TRON is currently “working to create a competing DeFi ecosystem that rivals its counterparts while allowing for inexpensive transactions, creating a win-win situation for platform users.”

 

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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%

 

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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….

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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.

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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%

 

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