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Tron’s [TRX] partner Cred joins BlockFi, Salt to fight the ‘JPMorgans of the world’

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The roller coaster ride that the cryptocurrency market is on caused a lot of proponents in the space to come out in public and assert the industry’s dominance. The recently concluded Consensus 2019 was a common ground for many luminaries in the space such as Peter McCormack and officials from Salt Lending, Cred, and BlockFi.

The general consensus of the crowd was that the bear market was ending and that Bitcoin was “going back to its 2017 highs.” Salt’s Shawn Owen stated that the industry was back and that the main aim of many proponents right now was to provide support and ensure crypto goes mainstream. This discussion was followed by an official from Cred, a popular lending platform, stating,
“We need to create an ecosystem where the people are benefited rather than just one party getting all the rewards. There is also a need to compete against the JPMorgan’s of the world as 95 percent of their business is to generate income so that you get returns on the coins that you invested in. JPMorgan has $17 trillion dollars and they still ask us to pay. They have the money but they still use ours to lend to our neighbor and then charge them for it.”

Cred’s entry into the cryptoverse was highlighted by its recent partnership with the Tron Foundation, a partnership aimed at offering lending, borrowing services to the Tron ecosystem. Justin Sun, Chief Executive Officer [CEO] of the Tron Foundation, commented,

“TRON’s collaboration with CRED will allow participants in the TRON ecosystem to benefit by earning interest or borrowing against TRON denominated currencies. Cred has impressed us with their solid history of delivering returns, their strong understanding of risk management and regulatory expertise and their professionalism.”
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Tron

Tron (TRX) Still Struggling Despite Key Development Updates, Properly Bullish Above $0.03

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The Tron project has risen to be one of the most popular projects in the industry in recent years. Much of its success has come from vigorous development and the project’s active team led by Justin Sun.

Though the project has not slowed down in its effort in recent months, its representation in terms of TRX prices has been on a drag. In the last couple of weeks, the coin has been trading on a tight range and has hardly responded to recent project developments.

At the time of press, Tron is nudging at the $0.030 position after a bearish couple of days. In the last couple of weeks, Tron has been stuck in the $0.025 and $0.030 price range. Today the market is seeing some fresh green and Tron is one of the cryptocurrencies seeing significant gains of over 4%.

Recent Developments Around The Tron Project

Just a couple of days ago, the Tron project announced that their token would be available to Opera web browser users. The Opera web browser will now support TRX in its built-in crypto wallet. The platform already has more than 300 million users from around the world and supports Ethereum and ERC-20 compatible tokens and Bitcoin.

The Tron project continues to dominate in dApps. DApps are growing fast due to their speed and cheapness taking away a lot of developers from popular projects such as Ethereum and EOS.

Hint Of Mismanagement?

However, although Tron has had much to celebrate this year, the project has not had faults. In recent days there seems to have been trouble from within the project. The project’s CTO, Lucien Chen, has recently resigned from the project citing several problems with the project, this ranged from lack of “decentralization” to it being a gambling and funding project.

Following the resignation and allegation, the Tron project fired back saying that the CTO was fired early in the year for bribery and theft. However, the project failed to announce his departure at the time.

It still remains unclear who is telling the truth but whatever the case, this is attracting the wrong kind of attention for the project.

TRX Price Prediction

TRX

It is currently clear that the Tron project despite having issues with its management is on the right track when it comes to development and clearly has no issue when it comes to adoption. TRX prices will soon catch up with these developments and with key resistance positions dealt with such as $0.032 and $0.035, we can see TRX  soar to new highs soon.

-News Source

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Tron

TRON users, stay alert! Read more on the BTC Bonus

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Because the TRON (TRX) futures trading market has been launched, a giveaway involving BTC bonus has been announced a short while back.

A promotion period of three days has been given, between May 21st and May 24th, within which the users have to open 10/100/500/1,000 contracts in TRX futures trading market in tiered maintenance margin ratio mode. This will lead to a bonus amount of BTC (which may go up to 4 times).

Up to 1000 USDT can be won. 5 days following the completion of the promotion is when the prize will be awarded. It users are caught controlling multiple accounts, a ban will be placed on their IP

Know more here:

Source:iourbitcoinnews

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Tron

Tron (TRX) Price Positioning For Bullish Break Above $0.0300

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  • Tron price started a sharp downside correction from the $0.0331 high against the US Dollar.
  • TRX price found support near the $0.0245 level and it is currently moving higher towards $0.0300.
  • There is an ascending channel forming with support near the $0.0270 level on the 4-hours chart (data feed via Bitfinex).
  • The price remains well supported on the downside and it could soon climb above $0.0290 and $0.0300.

TRON price is slowly gaining bullish momentum against the US Dollar, but struggling vs bitcoin. TRX could start a strong upward move if there is an upside break above $0.0300.

Tron Price Analysis

This past week, there was a strong rally in TRON price above the $0.0250 and $0.0280 resistances against the US Dollar. The TRX/USD pair even broke the $0.0300 level and settled above the 55 simple moving average (4-hours). Finally, there was a push above the $0.0320 level and the price traded to a new monthly high at $0.0331. Later, there was a sharp downside correction below the $0.0320 and $0.0300 levels. The price even declined below the $0.0280 level, but it found support near the 55 simple moving average (4-hours).

A swing low was formed at $0.0247 and the price is currently moving higher. It climbed above the $0.0265 level and the 23.6% Fibonacci retracement level of the last decline from the $0.0331 high to $0.0247 low. However, the $0.0285 and $0.0290 levels are currently acting as hurdles. The 50% Fibonacci retracement level of the last decline from the $0.0331 high to $0.0247 low is also acting as a resistance for the bulls. A clear break above the $0.0290 level is likely to open the doors for more gains in the near term.

On the downside, there are many supports near the $0.0270 and $0.0265 levels. There is also an ascending channel forming with support near the $0.0270 level on the 4-hours chart. A downside break below the $0.0265 support level may open the doors for more losses in the near term. The next key supports are near $0.0250 and $0.0245.

Tron Price Analysis TRX Chart

The chart indicates that TRX price is following a decent bullish path above the $0.0265 support. Therefore, there are chances of more gains above the $0.0290 and $0.0300 levels. The next main resistance is near the $0.0330 level, above which the price could trade towards the $0.0360 level.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is slowly gaining momentum in the bullish zone, with positive signs.

4 hours RSI – The RSI for TRX/USD is currently above the 50 level, and it could continue to rise towards the 65 level.

Key Support Levels – $0.0265 and $0.0270.

Key Resistance Levels – $0.0290, $0.0300 and $0.0312.

-News Source

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