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JP Morgan Precious Metals Market Revealed To Be Fixed

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JP Morgan Chase, one of the biggest banking institutions in the world had to face rounds of mockery from the bitcoin community this week after it was revealed that traders had committed market fraud.

Bloomberg reports surfaced yesterday that the financial giant is facing an inquiry over the behaviour of at least a dozen precious metal traders.

Investigators on the case have said that employees willfully got involved in price-fixing of precious metals on thousands of occasions. As a result, both market members and clients of JP Morgan’s experienced losses.

Assistant Attorney General Brian Benczkowski was quoted as saying:

“Based on the fact that it was conduct that was widespread on the desk, it was engaged in thousands of episodes over an eight-year period… We’re going to follow the facts wherever they lead, whether it’s across desks here or at any other bank or upwards into the financial institution.”

As many of you will know, JP Morgan is one of the biggest firms in the world and as it happens, it is one of the biggest crypto naysayers out there. Jamie Dimon, the CEO of JP Morgan is known to be a bitcoin skeptic and has even called the leading cryptocurrency a ‘fraud’.

How the tables turn…

Since then though, Dimon has seemingly had a change of heart and has not talked about bitcoin in public since and even denied saying such things in the past.

JP Morgan has been rumoured to be releasing its own cryptocurrency dubbed JPM Coin and since the announcement, nothing much but criticism and technical characteristics have been addressed.

The ‘Rhythm’ twitter analyst summed up the precious metals fiasco by saying:

“They were charged with wire fraud, bank fraud, and market manipulation. But I was told by the CEO that Bitcoin is the fraud.”

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Tron

Tron Price Resumes Bearish Trend and Falls Down to $0.015

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  • Tron (TRX) slips down during the intraday trading.
  • The downtrend seems to stay for a while.

Tron price is seen trading with a bearish trend. Last month, after touching $0.0118, Tron started moving up. The uptrend took the price to $0.0175. The upward movement is interrupted as the price is seen around $0.015.

The intraday traders are expected to experience a similar trend for the rest of the day but this fall seems to stay. There are anticipations about the improvement in the coming days but it seems far-fetched. Let’s have a look at the price chart of Tron to understand the movement more precisely.

TRX to USD Price Chart:

Tron price chart is reflecting price loss in September but in comparison, a recovery in October. The price started moving from $0.0156 went to $0.0160 by 2.52%. The price immediately fell to $0.014 by 11.76%. Further, the price escalated to $0.016 by 14.45% just to fall again to $0.014 by 11.14%. Further, the escalation took the price to $0.015 and later to $0.018. The price fluctuated at $0.018 and fell to $0.0117. The last upsurge took the price counter to $0.0149. The month marked a loss of 4.26%. In October, the price has marked escalation. The first hike took it to $0.015 from $0.013 and the next brought it up to $0.0175 from $0.014. The latest price movement is exhibiting a fall as the trading price of currency is back to $0.015.

Tron Price Analysis
Tron Price Chart by TradingView

As it is clearly indicated on the chart, Tron is registering a fall. The price is currently standing at $0.0158 and the support level is seen forming around $0.0155. However, there are also chances for improvement during the intraday transaction. The first resistance level is formed around $0.0160. Take a look at the support and resistance chart of Tron.

Resistance LevelPriceSupport LevelPrice
R1$0.016098S1$0.015528
R2$0.016455S2$0.015315
R3$0.016668S3$0.014958

Tron is expected to have a great future. The traders interested in the coin are suggested to go for short-term period as it would give a colossal profit.

Source.cryptonewsz.

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Bitfinex announces successful BTT airdrop to wallets holding Tron

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Bitfinex announced on Twitter that the BTT airdrop had been completed successfully and that all participants had received token relative to their TRX holdings.

The airdrop, which had been announced back in February this year, gave out BTT tokens for TRX holdings on supported exchanges in a 0.11:1 ratio (0.11 BTT per TRX held). This means that for every $1000 worth of TRX tokens held, the wallet will be eligible to receive around $5 worth of BTT.

However, the amount of BTT distributed to TRX holders is also scheduled to gradually increase over time, by 0.1% per year, till they year 2025, after which the program will be discontinued.

Though initially there had been no restriction to how much TRX had to be held, after the first two airdrops TRON announced that only wallets holding at least 100 TRX would be eligible to receive BTT. An initial snapshot had been taken when the TRON block height reached 6.6 million and the first airdrop had distributed 1.1% of the total BTT supply. By 2025, this percentage should increase to 1.7%.

Also, in order to reward long-term TRX holders, BitTorrent will airdrop an extra 99.99 billion BTT (~$44 million), which corresponds to 10% of the total supply.}

Source:ambcrypto

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Tron SR rankings shuffled as Binance unfreezes massive amounts of TRX

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One of Tron’s primary beneficiaries has been Binance, and according to Misha Lederman, a famous Tron enthusiast, there seems to be something brewing between the two.

Tron and its Chief Executive Officer Justin Sun have been known to create news in the cryptocurrency space with the sheer number of updates and developments from the company’s roster. This news making ability has also been helped along by several partnerships and tie-ups that have taken the company to new heights.

One of Tron’s primary beneficiaries has been the Changpeng Zhao led Binance, and according to Misha Lederman, a famous Tron enthusiast, there seems to be something brewing between the two. Lederman’s latest tweet read:

“Interesting development in #TRON ecosystem:
@Binance seems to have unfrozen 11.9 billion TRX, previously voted for #Binance in the SR elections. That would make @SesameseedOrg 1st, @BitGuild 2nd, @trxdream 3rd & @BeatzCoin
4th in the SR ranking. @cz_binance, care to comment😉?”

During the vote periods, Sesameseed had 494,177,142 votes while BitGuild, Tron-ONE, and BeatZCoin had 423.372 million, 410.206 million and 368.471 million votes respectively. The reason for the switch remains unknown, but many users in the space have speculated as to what the reasons may be. Cryptoworld, a cryptocurrency enthusiast, replied to Lederman’s tweet by saying:

“The reason is simple, if Binance remains SR with + 50%, the SEC can consider that TRON is not decentralized enough, and it could become a security, which nobody wants here.”

Some users have also speculated that Binance didn’t actually have to free the 12 bullion because they were able to vote without affecting the liquidity of the exchange. Binance had made waves when Tron had announced that the exchange had become its top Super Representative while it added TRX staking support. This September 30 development had occurred after the cryptocurrency exchange acquired over 12 billion votes in the Super Representative elections.

Binance was also in the news recently when it added an XRP pegged coin to its fold. The XRP-BF2 will be the new token that users will be able to utilize for instant swapping with no hiccups. Binance has stated that it has minted a whopping 10 million XRP-BF2 for the DEX.

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