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Tron’s Justin Sun announces 5th batch of TRX ERC20 Coin Burn; community hit with the blues

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Justin Sun, the CEO and Founder of Tron Foundation posted a tweet regarding the 5th batch of TRX ERC20 token burn. According to Justin’s post, approximately 4.9 billion tokens were burnt this time.

Justin Sun’s tweet stated:

“4,917,487,036.059613 #TRX ERC20 token were burnt by #TRON Foundation. $TRX”

TRX ERC20 token burn | Source: Etherscan

TRX ERC20 token burn | Source: Etherscan

Post the Mainnet launch which took place on 25th June, the Tron Foundation initiated the coin burn process. According to the team, coin burn is considered as the final step of Tron’s migration from the Ethereum blockchain.

During the 1st batch of coin burn, the Foundation burnt 1 billion TRX ERC20 tokens worth $50 million approximately. The main aim behind coin burn is to bring the number of coins in circulation under control, which in turn results in increased prices. The Tron Foundation also mentioned that coin burn would encourage fair distribution of the cryptocurrency.

However, the cryptocurrency proponents on various social media platforms seem to be unhappy with the ERC20 token coin burn process.

Juan, a crypto enthusiast on Twitter says:“Damn this is enough of telling us you burned the ERC20 token its not important that you did. Burn the that many Trx Coins NOW! that is news. Not this. Thanks Justin”

Another Twitter user says:“Pointless news… erc20 has been dead for months.. unless these coins were going to be converted to trx coins But are being burned instead. Then that would impact the supply. Otherwise pointless”

A Tron enthusiast named mymouse says:“not sure if this is a scam tweet or not…its got nothing to do with anything….simply burnng of old erc20 tokens….no impact on the current trx coin…..”

Following the Mainnet launch, Tron received support from numerous cryptocurrency exchange platforms. The recent announcements by the Tron Foundation included, TRX being listed on platforms including Bittrex, Satowallet, and Cobinhood.

At press time, Tron [TRX] is trading at $0.20 with a market cap of $1.34 billion. TRX is currently at the 13th position by market cap, with 9.58% hike in its price since yesterday. The TRX/USDT pair is being traded the most on OKEx with a volume of $18,607,769 in the past 24-hours.

A Blockchain Analyst named Rakesh says:“Good news soon #TRX to Moon Heading towards 10$ in 2019 jan”

Source:  ambcrypto

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Bitcoin (BTC/USD) forecast and analysis on September 25, 2018

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Cryptocurrency Bitcoin (BTC/USD) is trading at 6706.08. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Bitcoin. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 6590.00 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with the target near the level of 7190.00.

Bitcoin (BTC/USD) forecast and analysis on September 25, 2018

Bitcoin (BTC/USD) forecast and analysis on September 25, 2018

The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 6580.00. The abolition of the option of continuing Bitcoin growth will be the breakdown of the lower border area of ​​the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of ​​6200.00, indicating a change in the bearish trend for BTC/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.

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Ripple (XRP/USD) forecast and analysis on September 25, 2018

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Cryptocurrency Ripple (XRP/USD) is trading at 0.5761. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Ripple. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 0.5300 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 0.7210.

Ripple (XRP/USD) forecast and analysis on September 25, 2018

Ripple (XRP/USD) forecast and analysis on September 25, 2018

The conservative area for buying is located near the middle border of the Bollinger Bands indicator strip at 0.4680. Canceling the option of continuing Ripple growth will be the breakdown of the mid-range area of ​​the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of ​​0.4500, indicating a change in the bearish trend for XRP/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.

Read More;

Why Ripple (XRP) can jump 100x in value and become the world currency

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Ethereum (ETH/USD) forecast and analysis on September 25, 2018

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Cryptocurrency Ethereum (ETH/USD) is trading at 245.16. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Ethereum. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 238.00 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 280.50.

Ethereum (ETH/USD) forecast and analysis on September 25, 2018

Ethereum (ETH/USD) forecast and analysis on September 25, 2018

The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 220.50. The abolition of the continuation of Ethereum growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of ​​200.00, which indicates a change in the trend in favor of the bearish for ETH/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.

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