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Poloniex, BigOne, and KuCoin roll additional support to USDT-TRON airdrop

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A couple of top crypto exchanges recently announced that they are extending support to the USDT-TRON airdrop which has already begun from July 15, 2019.

According to the latest blog post by Ploniex published on July 12, the exchange offers flexibility by supporting all three networks for Tether (Omni, Eth, and Tron). The exchange claims that this effort is among its best initiatives taken to enhance exchange “as the best possible exchange for crypto traders and enthusiasts.”

Subsequently, the exchange will be converting “a specific number of Tether into TRC-20,” which is currently on the Omni network. As per the earlier announcement, Tron is airdropping approximately 30million worth of USDT-TRON as a daily interest to holders of these tokens. According to the Poloniex Exchange;

The amount of USDT we receive in the airdrop will be based on the amount we convert. Once the airdrop begins, Poloniex customers will be credited based on the amount of Tether they hold on Poloniex.

BigONE And KuCoin Supports

USDT-TRON Airdrop
Poloniex is currently supporting deposits as well as withdrawals of USDT on the Tron network and subsequently credit airdrop to eligible holders of USDT. Besides Poloniex, another exchange, BigONE has also announced to support TRC-20-USDT. The official announcement of BigONE reads that the exchange has opened deposit service of TRC20-USDT and it will also support the airdrop of TRC20-USDT.

From now on, users can deposit TRC20-USDT to BigONE. Once the airdrop starts, BigONE will take a snapshot of TRC20-USDT that BigONE users hold at 16:00:00 (UTC) every day, the announcement reads.

In addition to Poloniex and BigONE, KuCoin exchange also published a blog post, detailing its plan of supporting TRC20 based USDT. The exchange states that users from Monday, July 15 can apply for KuCoin “to convert their USDT to TRC 20 based USDT” and obtain the reward. The KuCoin announcement states that;

Due to the limited amount of TRC20 based USDT in circulation on KuCoin and in the market, we recommend that users apply as soon as possible. When the available TRC20 based USDT reaches an insufficient level, users will not be able to apply for a lock.

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Tron News Today – Top Headline for Tron TRX December 14th, 2019

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  • Massive TRX order via BitMex exchange
  • Scammers impersonating Justin Sun following USDT growth
  • Binance U.S assessing TRON’S TRX

Tron recently received a large order via the BitMex exchange platform. The order volume was 8,314,848 trades, which has been traded on the 4-hour candle. This is a new height for the coin after hitting its largest order on November 22nd, though the order came as a result of a sell-side. Before this, the biggest buy order of that volume occurred on 15th August, this is most likely a once in a while situation for the coin.

TRON (TRX) Price Today – TRX / USD

NamePrice
Bitcoin$7,169.64-0.79%
TRON$0.0141.10%

Tron Price Analysis – since Thursday, the price of the coin has been trying to pull out from the Lows and the 0.01420 is currently the new resistance level in the way of a higher move. Away from this price, the next resistance is likely to be 0.01492 on the way up.

Tether (USDT) has reached an outstanding firmness in the digital sphere with a Tether (USDT). A Tether (USDT) is a cryptocurrency processing on blockchain mechanism distributed on TRON (TRX) network, has accomplished remarkable constancy in the digital space with an enormous 916 million stable coins inflow. According to several predictions that TRON based USDT may get substantial recognition taking over a quarter of all distributed

stable coins. USDT released on the Ethereum network takes the second position with 2.2 billion coins in circulation. Confirming the news is Tron’s CEO, Justin Sun, who took to his Twitter page and stated: “Yes! We did it! 916 million $USDT on #TRON! When 1 billion? #TRX $TRX.”

USDT, although created to provide steadiness and precision during the transaction, its influence in the digital space has advanced as there are several other factors in Bitcoin (BTC) price discovery. The overall volume of USDT has been at an incessant value of 4,108,044,456 coins, but its configuration on other blockchain networks differs.

Scammers Impersonating Justin Sun following USDT Growth

The recent growth in USDT has opened doors for new scams. An announcement was made by TRON Europe on December 12th, 2019 warning the general public to be conscious of fake USDT since impersonators of Justin Sun, CEO of Tether foundations has been promoting such fake USDT and selling them to inexperienced buyers and in some cases going as far as seeking for a partnership deal.

Binance U.S Assessing TRON’S TRX

Binance U.S would be testing TRX for listing, though it is not yet guaranteed it will be on asset add-on. TRON, its prospect of getting centralized has summoned several criticisms, despite that the network is relatively legendary for gambling distributed apps. The asset runs on TRON network resources to develop rewards that can be sold on the open market.

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TRON’s founder account on Weibo blocked, TRX/USD feels the pain

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  • The “Chinese Twitter” blocked the account of Justin Sun.
  • TRX/USD has been on retreat following the news.

Chinese social media network Weibo, which is often called “Twitter for China,” blocked the account of TRON’s founder Justin Sun.

Dovey Wan, a founding partner of Primitive Ventures, wrote on Twitter: 

BREAKING and FINALLY …  @justinsuntron  ‘s Weibo (Chinese Twitter) account is now officially SHUT DOWN. totally not surprised given how loud he has been on Weibo even after the Buffet Lunch/kidney stone drama… 

Notably, Sun is known for his controversial marketing tactics that are often criticized both in China and around the globe. 

Sun stayed calm and encouraged TRX holders todo the same. He assured TRON users that he would resolve the issue with Weibo via a “direct communication channel.”

TRON is super safu! Just follow me on @justinsuntron. We have a direct channel to Weibo and will get this resolved asap.  

TRON feels the pain

Meanwhile, TRON (TRX) has been losing ground following the news. The 14th largest coin with the current market value of $915 million, has lost over 2.6% on a day-to-day basis to trade at $0.0137 at the time of writing. TRX/USD is also down 6% on a weekly basis and over 31% on a month-to-month basis.

Looking technically,  TTRX/USD is moving within the downside channel. The initial support is created by $0.0133. This barrier is reinforced by the lower line of the daily Bollinger Band and the lowest level of

December 12. Once it is broken, the sell-off may e extended towards $0.0131 (November 25 low) and $0.0123 (the lower line of the weekly Bollinger Band).

On the upside, the initial resistance awaits us on approach to $0.0148. This area limited the recovery at the beginning of December; also, it is reinforced by the middle line of the daily Bollinger Band. Once it is out of the way, the upside is likely to gain traction with the next focus on the confluence of SMA100 (Simple Moving Average) daily and the upper line of the Bollinger Band (currently at $0.0163). 

Considering the downward-looking RSI (Relative Strength Index), the bearish scenario looks more likely in the short run.

TRX/USD, the daily Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Source: fxstreet

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DigiByte Founder Slates TRON As A ‘Chinese Government Scam’

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  • According to Jared Tate, the popular TRON cryptocurrency is actually just a government scam.
  • He adds that the token’s listing on Binance.US threatens to undermine faith in American regulatory bodies.
  • Tate was very clear in his opinion of both TRON and the Binance platform.

According to the DigiByte (DGB) founder Jared Tate, the popular TRON Chinese cryptocurrency is actually just a government scam. On top of this, he adds that the token’s listing on Binance.US threatens to undermine faith in American regulatory bodies. Tate reacted this way to recent news that Binance.US would be giving TRON a listing as well as 17 other altcoins.

Tate was very clear in his opinion of both TRON and the Binance platform. The founder has claimed that these projects are equally making fools of the American public.

Taking to Twitter this week, Tate said:

“If American regulators allow @BinanceAmerica to continue operating let alone list the biggest scam in crypto history fronted by the Chinese government to dupe unknowing American citizens there will be an unprecedented

loss of faith in our law makers.”

Messy situation 

It’s safe to say that both Tate and TRON have a bit of a messy situation now.

As per CCN, Tate’s move to call TRON a Chinese government scam could come from Justin Sun’s willingness to “humble himself” before the Chinese leadership in the past.

As previously reported by CryptoDaily, Binance.US revealed that it was looking into new additions to its crypto trading list.

Part of the Binance.US announcement reads:

“Our priority to continue exploring more digital asset listings for our users runs in parallel to our efforts to deliver a mobile application and more access to new states we currently do not operate. Binance.US recognizes that the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse. Binance.US has both legal obligations and moral duties to shield our users from fraudulent blockchain projects and combat financial crimes.”

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