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TRON: News Today – Top Headline for Tron TRX December 10th, 2019

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  • Speculations of Tron’s acquisition of Steemit, a blockchain content platform
  • Tron continues to show positive growth

Tron founder, Justin Sun is prepared to add to the leagues of projects he is handling, as the CEO is ready to buy content distribution platform Steemit. Tron is looking at expanding by bringing in blockchain content platform Steemit into its team.

According to a previous report in December 2018, Justin Sun dropped some subtle hints on a purchase to strengthen the effectiveness of the Tron and BitTorrent ecosystem. The declaration was followed by a partnership deal with the Mining pool, which will give access to Tron to work on the network of the acclaimed next-generation PoS mining Pool network. Still, there was no clear sign that the partnership is the procurement deal Sun was talking about back in December last year.

TRON (TRX) Price Today – TRX / USD

NamePrice
Bitcoin$7,331.43-2.30%
TRON$0.014-1.82%

The speculations of Tron’s acquisition of Steemit might just be what the Tron community needs to calm themselves after the situation with Ripple and Justin Sun. Backing the acquisition speculations is a news by Mars Finance new agency through Weibo, which stated that Tron had just finalized two mergers and acquisitions. Steemit, which was launched on July 4, 2016, is a blockchain-focused content distribution platform that permits users to upload content and store

them on-chain to avert modification.

Tron Continues to Show Positive Growth

Tron continues to grow amidst the bearish crypto market trend. Justin Sun recently declared on Twitter that the number of registered TRON accounts has grown from 4,190,559 to 4,262,802 within the last 14 days. Although, the public should have it at the back of their mind that the statistics do not take into account the number of active accounts.

Steemit gives access to users to get revenue for their content, producing a decentralized platform for content writers. This is working towards the goal of Tron to decentralize the internet. Steemit, if truly acquired by Tron will be a great match for the Tron ecosystem as Tron endeavors to give internet users the freedom they deserve.

Bear in mind that in 2018 during the niTRON summit in San Francesco, the TRON foundation listed Steemit, Oracle and several others as a partner. In the same light, Justin Sun has reached an agreement with the Poloniex team to invest in the exchange platform. The procurement was followed by the procurement of Tron’s biggest DEX TRX market.

In the meanwhile, the CEO of InboundJunction & Marketacross, Nadav Dakner, a PR and media group representing TRON and other top crypto projects like Qtum, Binance, eToro, Huobi, and several others, has declared that the speculation of the acquisition is false. According to him, the news is quite deceptive and fabricated.

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Gemini Starts Insurance Company To Boost Cryptocurrency Coverage For $200M

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Leading US cryptocurrency exchange and custodian, Gemini Trust Company, has taken a strategic step to provide robust coverage for the cryptocurrencies in its custody.

Gemini Takes An Extra Step

Owned by the Winklevoss twins, Cameron and Tyler, the exchange announced Thursday that it had launched its captive insurance firm, Nakamoto Ltd., to secure Gemini Custody, the company’s arm that stores customer’s digital assets, against theft.

This development now allows Gemini’s customers to purchase additional insurance coverage for their cryptocurrencies with the company’s traditional and captive insurer.

A captive insurer is an insurance division that is set up by companies as a way to provide coverage for business risks that are usually huge and impossible or expensive to insure with external insurance companies.

Nakamoto Ltd. is licensed by the Bermuda Monetary Authority (BMA) and is the world’s first captive to insure cryptocurrency custody as it provides insurance coverage for Gemini Custody of up to $200 million holdings, which is the largest in the world, according to the report.

More Trust Can Lead To Mass Adoption

It is no news that crypto

exchanges and custodian companies are the primary targets of hackers. There have been several reports of exchanges losing millions of dollars due to security breaches. A cryptocurrency company could claim to be very secure until it is hacked, as we have seen in many cases. Even the world’s leading cryptocurrency exchange, Binance, was once a victim of such nefarious acts.

Traditional investors are not willing to throw their money into an industry where millions could go missing overnight unless, of course, there is a robust system to cover such risks.

Gemini believes that providing comprehensive insurance coverage for digital assets will attract more institutional investors as a lack of proper insurance is one of the barriers to mass adoption. Investors will be more open to crypto investments if they feel safe and protected from risks.

“Insurance is one of the last hurdles. In order for there to be mass adoption, the path forward is a regular, compliant exchange system that clients have become accustomed to in traditional finance,” Gemini’s head of risk, Yusuf Hussain, told Reuters in an interview.

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Ethereum’s annual issuance hikes to 4.51% post-Ethereum Ice Age

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It has been a good start to the year for Ethereum.

After registering minor hikes on 3rd and 6th January, the world’s 2nd largest crypto-asset recorded a significant pump on the 14th, recording a hike of 18.88 percent. The valuation pushed the price of Ethereum from $143 to $170 as major resistances at $150 and $154 were breached.

According to the latest Coinmetrics State of the Network report, the annual issuance percentage for ETH slumped to an all-time low at the end of December 2019. The decline was observed right before the implementation of the Ethereum Ice Age, a planned difficulty increase to make mining more strenuous.

Initially, the ice age was planned in order to incorporate a transition and encourage users to shift from ETH 1.0 to ETH 2.0. However, the plan failed after ETH 2.0 did not get launched by the

end of 2019 and the hardfork commenced on 2 January 2020.

Source: Coinmetrics

As observed in the chart above, after recording a drop to 3.45 percent in December 2019, the annual ETH issuance percentage climbed its way back to 4.56 percent.

However, the Ethereum ERC-721 tokens pictured a cooling-off period at the start of 2020 after pretty much dominating ERC-20 towards the end of 2019. The transaction count growth over a 7-day avg suffered a sharp slump, with ERC-20 tokens’ periodic depreciation continuing to unfold.

Source: Coinmetrics

Previously, Ethereum’s ERC-2o tokens experienced a steep rise back in November, when over 3.7 million ERC-721 tokens were transferred in a single day. However, it is important to note that a majority of these transfers were associated with an ETH-based game, “Gods Unchained.”

Many people in the community have regularly discarded Ethereum’s valuation and position in the crypto-industry. However, some like Nate Maddrey, Senior Research Analyst at Coinmetrics, has recently noted that Ethereum could be undervalued, when compared to Bitcoin.

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Binance Futures launches ETC/USDT perpetual contracts as another fiat on-boarded

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The world’s leading crypto-exchange, Binance, has been making a series of announcements since the beginning of the new year. After adding support for numerous fiat currencies from around the world, Binance has now announced the addition of Turkish Lira [TRY] for users to bind their Visa cards in order to purchase Bitcoin [BTC], Ethereum [ETH], Binance coin [BNB], and XRP.

A blog published by Binance hinted at support for Mastercard and other currencies soon, on the platform.

“Support for Mastercard and additional currencies will be added in the near future.”

The exchange had previously announced support for purchasing crypto by binding Visa cards in December 2019 and it has since, added the Euro [EUR] and the Great British Pound [GBP]. Among the 31 countries covered, the United Kingdom, Germany, France, Spain, and Iceland are the few who made it to the list. As per the CEO of Binance, Changpeng Zhao [CZ], 2020 will see Binance support all 180 fiat currencies.

Apart from the addition of new fiat currencies, Binance has also announced the

launch of ETC/USDT perpetual contracts which will offer leverage up to 75x. The blog added,

“Binance Futures will launch ETC/USDT perpetual contract and open trading at 2020/01/16 08:00 AM (UTC). Users will be able to select between 1-75x leverage.”

In order to prevent market manipulation, the exchange will implement a pricing limit of ±1% on the market price within the first 15 minutes after trading starts. Recently, Binance had also launched XRP/USDT Futures Contracts with up to 75x. leverage, following which the announcement of ALGO/USDC, FTM/USDC, ONT/ USDC, XLM/ USDC, and USD/ USDC trading pairs were rolled out. The exchange had stated,

“To improve liquidity and user trading experience among our wide range of available assets, Binance will remove and cease trading on the [above] USDC trading pairs at 2020/01/07 8:00 AM (UTC) […] Please note that users can still trade the above assets in other trading pairs that are available on Binance.”

The exchange has been making headlines for launching high leverage contracts for its Futures platform for a while now, with Ethereum being one of the first contracts to be launched.

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