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Tron-based USDT Stablecoin gets Listed on Three Major Crypto Exchanges: Huobi, OKEx and Gate.io

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Tron Foundation has announced a partnership with Tether (USDT) to create a new stablecoin. The introduction of USDT to the Tron network will make transaction free and swift. Also, it will increase the use cases for Tether.

Justin Sun, CEO of the TRON Foundation, believes that working with Tether will boost their goal of increasing the popularity of the Tron blockchain.

`So far, three leading crypto trading platforms have confirmed their support for Tron-based USDT. The three are – Huobi Global, which is based in Singapore, OKEx, which is based in Malta, and Gate.io.

The news about the Tron-based USDT was first announced at the begging of this month. The coin is based on Tron blockchain’s TRC 20 protocol. Seen as an improvement to the standard USDT, the coin follows the standards maintained on the Tron blockchain will be compatible with all DApps and protocols on the network.

Both Huobi and OKEx exchanges said that the decision to list the ‘improved’ USDT was inspired by their clients’ demand for the introduction of stablecoins. The addition of USDT-Tron comes after the two platforms had already introduced other versions of USDT, namely USDT-Omni, which is based on the Bitcoin protocol, and the USDT-ERC-20, which is based by the Ethereum protocol.

Additionally, the TRON Foundation has launched an exclusive incentive program for holders on the Tron-based USDT. Investors will receive 20% as the annual percentage rate for holding the digital currency. This rate is much higher than that of its closest rival, USDT-Omni. Moreover, USDT-Tron holders will get extra tokens for a period spanning 100 days.

Earlier this year, the introduction of the Tron DApp program and the launch of the BitTorrent Token caused an increase in the price of TRX. However, the value of cryptocurrency has since suffered the effects of the bear market.

Still, TRX averages higher transaction volumes than the two other major DApp platforms, Ethereum and EOS.

Source:bitcoinexchangeguide

Tron

Tron : There remains a valid bullish bias for TRX

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The bullish bias is expected to continue for Tron in the coming trading days since the bulls are totally in full control of the market.

Key highlights

  • TRX/USD bullish bias is very strong and valid for now because the buyers are currently dominating the market
  • The price of TRXUSD is trading on a method called “High and Low ZigZag method” and
  • The market is expected to continue the bullish swing towards the major supply zone at $0.040214 and $0.040862 respectively

Tron Current Statistics

Current market price: $0.025436

Market Capitalization: $1,696,143,049

Trading Volume $580,084,040

Major supply zone: $0.031980, $0.040784, $0.045000

Major demand zone: $0.020436, $0.012404, $0.010000

Latest News for TRX

The Tron CEO and founder Justin Sun announced his intention to complete the large scale buyback TRX token over the coming year 2020. In the official blog post of the Tron Foundation, a $20million TRX buy-back plan got announced which could be completed in the year 2020. As this will last for one year, it will surely have an effect on the secondary market.

Price analysis for Tron

TRX/USD is currently trading in an uptrend, due to the fact that the bears have lost the control of the market. The bullish bias is expected to continue in the coming trading days since the bulls are totally in full control of the market. The buyers may have some difficulties at a major supply zone around $0.031980, and if they are able to push the price above the supply zone mentioned then, they may drag the price down to a major supply zone at $0.0450.

TRON DAILY ANALYSIS

Chart indicators reading

All the indicators of TRX/USD are currently supporting the bullish bias; the Moving Average is pointing for the price to go up. Structurally, the Tron market is unable to break down the trend line below a major demand zone at $0.020384 and since this is a critical barrier for the bears to overcome, the market may continue trending upside for the next coming trading days.

The general outlook for Tron (TRX)

It is advisable to follow the uptrend because the overall outlook of the TRX/USD is bullish. The bulls are totally in control of the market for Tron; it appears all the attempt made by the bears to sustain the downside movement failed due to a major demand zone located at $0.020384.

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Circle and Poloniex CEO joins Tron CEO for the Buffet dinner

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The crypto savior Justin Sun first invited Circle CEO, Jeremy Allaire to Buffett lunch.

Jeremy Allaire, the chief executive officer of Boston-based financial technology startup Circle, agreed to an invitation today to join Justin Sun, Tron and BitTorrent CEO, for a luncheon with the influential billionaire Warren Buffet.

Jeremy, the founder of the Goldman Sachs-backed company, Circle, will be in attendance to the event alongside Charlie Lee, the creator, and founder of Litecoin. At present, Litecoin is the 4th most tremendous crypto asset in the world with a market capitalization of about 6.1 billion US dollars.

As many crypto followers know by now, Litecoin creator Charlie Lee is one of the best crypto ambassadors in the crypto ecosystem. For the past six months, the prices of Litecoin has been on fire, soaring 347 percent against the US dollar.

Since its introduction to the crypto market, Litecoin (LTC) has managed to outshine every one of the top 10 virtual assets, including EOS, Bitcoin, and Ethereum. Crypto analysts attribute the steady upsurge in Litecoin’s prices to the anticipated block reward halving event that is scheduled to take place in the next one month.

Litecoin is the only significant crypto asset that matches the performance of the number one cryptocurrency, Bitcoin, since the 2017 bull market.

The creator of Circle took to his Twitter account to express his acceptance and gratitude to Justin Sun for his invitation to the 4.6 million US dollar luncheon.

The highly anticipated lunch comes at a time when the crypto market is experiencing a series of intense debate and attacks in regards to the caliber and integrity of the crypto industry. Crypto critics are voicing their disapproval towards the technology, calling it everything from a trick to a junk pile. Crypto supporters, on the other hand, are calling it revolutionary, saying it is an idea whose time has come.

The situation is so severe that crypto was a key discussion point among G7 finance ministers who congregated in Chantilly France last week. In the current time, cryptocurrency cannot be ignored while the relevant authorities are yet to come up with a clear consensus on how the industry should be governed, Facebook’s entry into the market and the reality of cryptocurrency’s 2.5 billion users that are piling pressure to legislatures to act swiftly.

In the US, for instance, the ongoing Facebook entry into cryptocurrency controversy has incited two consecutive senate hearings this week. Facebook’s David Marcus was taken this week to the task to answer queries from members of the senate who belong to both the Republican and Democrat side.

Facebook intends to debut a virtual asset on a new global payment platform that is sparking more in-depth deliberations about Bitcoin and cryptocurrencies in general. The situation is so bad that the President of the United States, Donald Trump, tweeted a critical tweet on the subject matter.

Amidst the pressure, blockchain creators continue coming up with new products and services that are changing the financial landscape and how business is being conducted globally. The CEO of Tron Foundation and BitTorrent believe both Buffet and Trump, who made extreme comments castigating cryptos, are misinformed about the technology, its potentials and its use cases around the world.

Justin Sun hopes the one-on-one meeting will allow him and his friends to broaden Warrens overview towards the virtual economy, dismissing the old line of thought that Bitcoin was just a tool for crooks.

The current crypto market is struggling and is in dire need of a miracle. The entire crypto community will be watching to see how the meeting goes as Tron CEO has so far set up a commendable lineup that is expected to come out with some good news after the meeting.

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Crypto Firm Chief Accepts Invitation to Warren Buffett Lunch With Tron’s Justin Sun

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Jeremy Allaire, chief executive officer of crypto-powered finance firm Circle, has just accepted an invitation to join Tron and BitTorrent CEO Justin Sun for a lunch date with legendary investor Warren Buffett. Allaire, who founded the Goldman Sachs-backed Circle in  2013, will attend the event along with Charlie Lee, the creator of Litecoin, the world’s fourth-largest cryptocurrency, who has also confirmed his attendance as one of Sun’s guests.

The high-profile lunch comes on the heels of a series of intense debates about the caliber and integrity of the cryptocurrency industry with critics calling it everything from a scam to a cesspool, and supporters calling it revolutionary.

The topic was a key focus among G7 finance ministers who gathered in Chantilly, France on Wednesday. While regulators have reached no clear consensus on a regulatory framework, Facebook’s entry into the space – and the reality of its 2.5 billion users – have driven tremendous attention and a sense of urgency for lawmakers to act swiftly.

In the US, the ongoing controversy over crypto sparked two consecutive congressional hearings this week with politicians debating Libra while grilling Facebook’s David Marcus. The tech giant’s plans to launch a digital coin on a new global payments platform sparked even deeper discussions about Bitcoin and cryptocurrencies in general, evoking a critical tweet from President Donald Trump and warnings from Treasury Secretary Steven Mnuchin.

As progress heats up and blockchain developers continue to build new products and services, Sun says that both Trump and Buffett, who have made strident remarks condemning cryptocurrencies, are ill-informed about the tech, its benefits and its important use cases around the world. He hopes the face-to-face meeting will allow him and his colleagues to give Buffett a broad overview and a better understanding of the digital economy, shattering the old tropes and stereotypes about Bitcoin as a vehicle for crooks.

Sun also made one of his customary announcements via Twitter about an upcoming announcement, indicating that something significant is in store for his two platforms, Tron and BitTorrent

Sun won the upcoming lunch date on July 25th with the Berkshire Hathaway CEO by placing the winning bid of $4.56 million last month at Buffett’s annual charity auction for the GLIDE Foundation, a non-profit organization that provides services for the homeless in San Francisco.

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