Asian Altcoin Trading Roundup: Top Cryptocurrency is Tron

FOMO Moments

The recovery has continued into its third day and markets have remained green during this morning’s Asian trading session. Bitcoin has put another 4.7% on and is trading just over $9,000 which has pulled many of the altcoins back up again. A couple of them are in the red by a percentage or two but most are showing positive gain. One leading the way at the moment is Tron.

Coinmarketcap reports that TRX is up 17% this morning, trading at $0.039 from $0.034 24 hours ago. This does not sound a lot but percentage gain wise it makes it today’s top performing altcoin. Tron has had a rough ride this year, falling 85% from its pump to $0.26 in early January to current levels. Over the week TRX has shown gains of 11% however over the month it is down 13%. In satoshi levels it is up 11% on the day at 453 sats, a similar gain can be seen looking at the monthly chart. This time last month TRX traded at 390 satoshis and has been in a down trend since its two peaks in January.

Tron has had a tough time on social media with commentators deriding founder Justin Sun for his constant partnership announcements. The entertainments based cryptocurrency has made a number of partnerships but none large enough to spur the level of fomo it had at the beginning of the year. Current interest has come as the countdown to the Tron testnet diminishes and Sun and Co are actively pumping it on Twitter. The testnet is due to launch on March 31, it will remove the dependency on Ethereum and opens doors to larger markets. The developers and community are excited about the testnet launch which precedes the mainnet launched planned for the end of May.

TRX is traded predominantly on Binance which has 56% of the total volume. In the past 24 hours $258 million has been traded in Tron, its market capacity is $2.5 billion and it is ranked at 16th. If the testnet is successful and more partnerships follow prices could start to recover faster.

Other altcoins with double digit growth during the Asian trading session include Cardano, Iota, Nano, Icon, and Verge.

More on Tron can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.

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One of the NBA’s latest prospects is Jontay Porter. The 18-year-old has high hopes for the future. Firstly, of course, he’s wanting to be picked in June’s draft. Secondly, he’d love to help his team, the Missouri Tigers, win the NCAA Tournament that they’re competing in. Finally, he’s hoping for a big rebound off the court – in the cryptocurrency market.

An Enterprising Young Mind

In a recent interview with the Kansas City Star, the young NBA hopeful spoke of his interest in cryptocurrency and how he himself was invested in Bitcoin, Litecoin, Ethereum, Ripple, and Tron. He told the publication about how he approached putting together his diverse crypto portfolio:

“I did my own research, obviously; that’s what you should always do if you’re investing… I’m obviously not going to put all of my money in cryptocurrency.”

He started by buying $300 worth of Bitcoin. This was followed by smaller purchases of more crypto assets using his student-athlete allowance.

Unfortunately, the Tigers’ leading rebounder was forced to cash out some of his investment. He explained to the Star how he had been bought a used SUV by his parents. Owing them the money back and with no way to pay it yet, he was forced to sell half of his crypto assets. He was, however, careful to keep some skin in the game as he’s optimistic of a rebound in the markets:

“I was kind of sad, because [the market] was about to bounce back. But my mom needed it right away.”

Missouri Tigers’ assistant coach and father of the budding basketball star turned investor, Michael Porter Sr., told the publication about his son’s inquisitive mind. He said, “he’s  always been a thinker.” Meanwhile, Lisa Porter, the teenage athlete’s mother added:

“He had the gumption to just do it… All my other kids would really debate over it.”

From a young age, Jontay had an inquisitive mind and sought ways to turn that into financial gain. In the Sixth Grade, he started dismantling, repairing, and jail-breaking his iPhones. This transformed into something of a business. He’d advertise his repair services for cracked screens and the like on CraigsList. He always made sure to undercut the local businesses offering the same services in his town.

Of course, Jontay Porter isn’t the first athlete to embrace cryptocurrency. The US Winter Olympic luge team famously declared that they’d accept Bitcoin donations for their medal challenge this year. Unfortunately, Olympic rules prohibited the team from wearing any Bitcoin branding on their official uniforms. This is a real shame too as the event was held in crypto-loving South Korea and had the whole world’s eyes upon it.

All of us at here NewsBTC are hoping that Jontay Porter is successful in his bid to make the big time as an NBA star. He’ll certainly become one of the higher-profile proponents of Bitcoin if he does. Hopefully, he won’t be shy about plugging his investment interests in his post-match press conferences too!

The correlation between blockchain technology and video games is becoming more apparent.  Tron and BitGuild are now bringing in-game item ownership to distributed ledgers. This is a major development for the video gaming industry as a whole.

Revamping In-Game Ownership

Anyone who plays video games will know how “owning” virtual items is a double-edged sword  While it is possible to buy in-game objects with real money, selling them is often considered illegal. As such, the ownership of these items is rather one-sided. A big problem, considering players work hard to get these items and deserve to derive value from them. Right now, there is no convenient solution to achieve that goal.

BitGuild and Tron aim to change all of this in the near future. More specifically, they are working on a worldwide free content entertainment system. By using blockchain technology, they can prove item ownership and provide a new environment for financial transactions related to these digital assets. BitGuild will provide a limited-edition in-game asset set for the Tron community in the near future.

All of these assets can be purchased using Tron’s native TRX token. It is possible these assets will be made available on BitGuild’s virtual item exchange at a later date. Right now, that has not been officially confirmed just yet. The finer details of this plan have yet to be unveiled as we speak.

Will the Video Game Industry Embrace This Idea?

While building new digital assets for the gaming industry works, existing game developers may not look favorably upon this concept. Video gaming has become a multi-billion dollar industry. This includes the in-game items which players spend real-life money on. Recent games such as Star Wars: Battlefront II and Destiny 2 show the concept of loot-boxes is still viable. Despite growing backlash from gamers, this concept will not disappear anytime soon.

Additionally, there are other semi-similar blockchain ventures on the market already. BitGuild and Tron are doing things a bit differently, though. Rather than providing in-game services or currencies, this new platform will tokenize the products being offered. This gives players full control over their assets at all time. In this regard, this new venture is completely different from other blockchain projects in the space.

One thing to take note of is how this new venture seems to focus on new games altogether. There will be no real plan to bring this technology to existing video games as of right now.  Whether or not that will be a good thing, remains to be determined. Building this new “class” of games where everything is tokenized will take a lot of time. At the same time, it’s also an opportunity worth exploring.

FOMO Moments

The markets have been a mixed bag during this morning’s Asian trading session. They are mostly up though as traders stock up for the weekend. Bitcoin has rallied by 6.5% despite the SEC’s investigation into US ICOs yesterday. Altcoins have made marginal gains but as usual we see one that is racing away from the rest and today it is Tron.

Coinmarketcap has TRX trading 25% higher on the day. Trading at $0.042 this time yesterday the altcoin made a couple of jumps a few hours ago to propel its price up to $0.056. While this doesn’t sound a lot, percentage wise it is significant which makes it today’s leading cryptocurrency. Tron has had a tough year, in classic pump and dump formation it spiked to a high of $0.26 in early January but like a lot of the other high supply coins has fallen back since then.

Founder, Justin Sun, has been lambasted on social media for his frequent partnership announcements in an effort to shill the coin. The entertainment’s based altcoin has made a few partnerships however but none large enough to raise the price anywhere near to its fomo inspired all-time highs back at the beginning of the year. This current pump has been caused by Bittrex which announced that TRX would be listed on the exchange.

The majority of TRX is currently traded on Binance which has 56%, second is Chinese exchange Huobi. TRX has fallen from number six in the market cap charts down to 14 with a cap of $3.5 billion. The supply stands at 100 billion with 65 billion circulating, 24 hour trade volume has been $475 million.

Other altcoins enjoying double digit increases during the Asian trading session this morning are Monero, Lisk and Verge.

More on Tron can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.

FOMO Moments


Things are looking brighter during the Asian trading session this weekend. Bitcoin has done better than hold the pivotal $8k level, it has risen to just under $9,000. As usual the movements of Bitcoin are mirrored in the altcoin charts and most of them are trading higher this morning. The leading altcoin however is one that has taken a lot of flak recently. But with a 53% jump in less than 24 hours Tron is on a flyer at the moment.

Social media has been vicious to Tron and its founder. For some reason this altcoin has hit a nerve with the Facebook fanboys that have been bleating on about it for some weeks. It has probably suffered a greater FUD attack than any other cryptocurrency out there, with the possible exception of Verge, and this may be due to the huge attack of FOMO causing the coin to spike from virtually nothing to $0.25 on January 5.

Since then it has been on a downward slide with all other altcoins. Today however Tron is over 50% higher than its trading price the same time yesterday. Currently trading at $0.054 TRX has seen the largest upward movement in the top 25 altcoins this morning. Founder Justin Sun is very active on Twitter where he posts almost weekly updates about partnerships with small Chinese companies. The entertainments based altcoin could easily reach its previous all-time high if a bigger partnership gets announced.

TRX is predominantly traded on Binance which has over half the total volume. Its market cap is $3.6 billion which ranks it as the 16th most popular altcoin. $480 million has been traded in the past 24 hours, largely in South Korea. Other altcoins enjoying big jumps today are Ripple, Cardano, Stellar and Lisk.

More on Tron can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals. 

The movers and shakers of the altcoin world certainly do move fast. The top ten cryptocurrencies by market capacity shifts on an almost hourly basis with new contenders rapidly ascending the charts. The year has started well for cryptos and some altcoins are showing an early lead. Tron is one of them.

Tronix has firmly taken 6th spot on the capacity charts, usurping Nem, Stella, and Litecoin. Its market capacity at the time of writing stands at $18 billion. The 24-hour trade volume has been a staggering $5 billion which is immense for a relatively new altcoin. TRX is currently trading at an all-time high of $0.28 rising in an almost exponential curve from $0.003 at the beginning of the month. This represents an increase of almost 7000% in a month.

So what could be the driving force behind Tron’s epic ascent? Jack Ma Hupan University educated founder, Justin Sun, is very active on Twitter and recent posts indicate that another partnership is in the pipeline;

More partnerships are coming! Even #NASDAQ listed companies and the giant companies with more than 100 million users started to contact us for partnership. We will be huge soon!”

We will announce our partnership with a very prestigious public listed company next week. Looking forward to it! We will have a live streaming on January 6th 10am GMT+8 Beijing time. Update you with the latest partnership and tech development. Please don’t miss the show!”

Tron has recently partnered with oBike, an Asian bike sharing company, and, a leading online gaming platform. The collaboration intends to launch a similar game to CryptoKitties which clogged up the Ethereum network during the peak of its frenzy last year.

Sun has close ties to e-commerce giant Alibaba chief Jack Ma and rumors of a partnership between those two could be fueling speculation.

Tronix is a blockchain based protocol for monetizing the digital entertainment industry. It is traded heavily on Binance which has almost 90% of the total volume. There is a current supply of 100 billion TRX with 65 billion in circulation, according to TRX is up 140% in the past 24 hours.

Traders and investors are poised for new partnership announcements which are likely to send the price of Tron even higher.

News of big partnerships are always a lift for undervalued altcoins. With Bitcoin stealing the show, and most of the capital time after time, alternative cryptocurrencies need a bigger boost. Relatively unknown Tron is about to get that as a partnership has just been announced.

According to a Medium post and the founder’s own Twitter feed rumours were flying that Tron could be partnering up with Chinese e-commerce giant Alibaba. Tron’s brainchild is Justin Sun the former Chief Representative of Ripple in Greater China and the CEO of Peiwo, the leading audio content community of China. Sun made the Forbes 30 under 30 list twice at the age of 26 and was hand-picked by Alibaba chief Jack Ma himself to study at the Jack Ma Hupan University for entrepreneurs. The two Chinese tech gurus have close ties already.

However the partnership actually announced on Twitter was with oBike, one of the largest sharing economy companies in the world. It is still an impressive announcement from the relatively new entry into the cryptocurrency market. oBike is Singapore’s first homegrown stationless bicycle-sharing system with operations in several countries in Europe and Asia and over ten million users. According to the post oBike will be launching its own Ocoin for Bluetooth bike sharing applications; this will be based on the Tron network.

According to the company website Tron

“aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription and push of contents and enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem.”

The Tron token, TRX, has a current market capacity of $2.6 billion at the time of writing. According to it is ranked 18 in the list of cryptocurrencies. This month alone it has jumped from $0.002 to an all-time high of $0.067 representing an increase of over 3000%. TRX is currently trading at $0.04 after a relatively flat week.

The majority of the trade is made on Binance and Korean exchange Coinnest and it has had $318 million in volume in the past 24 hours. There are 100 billion TRX coins with 65.7 billion in circulation which makes this altcoin extremely undervalued at the present time. Should bigger partnerships such as Alibaba come in the future this cryptocurrency could go a long way.

[Disclosure: The author of this article is a Tron (TRX) holder]