TRON trading volume has shed a trickle at around 3%. There has been an uptrend movement seen before it recently declined.
While the TRON bulls are desperately trying to hold on and support the price, the bears have been doing the heavy lifting so TRX needs to work double and get more buyers to boost the price.
The bulls did an
Read Full Article…
The Tron ecosystem had a major blow last week when the USDD stablecoin lost its $1 peg. This led to concerns among traders as USDD was launched last month as a rival to Terra’s UST, an algorithmic stablecoin. Another depegging of a similar asset also meant that TRX’s price also dropped for a bit therafter.
The post As USDD Depeg Deepens, What Is Justin Sun’s Plan? appeared first on CoinGape.
Tron’s native token, TRX, fell sharply in the past 24 hours as the blockchain’s USDD stablecoin broke away from its dollar peg. TRX slumped as much as 19%, and is now trading at $0.05- its lowest in 15 months. The token is also the worst performer among the top 50 cryptocurrencies in the past 24
The post Tron’s TRX Slumps Nearly 20% As USDD De-peg Deepens appeared first on CoinGape.
TRON’s newly launched stablecoin, USDD, and Waves’ USDN have both depegged amid the recent crypto crash. The two tokens have attracted increased after the recent collapse of TerraClassicUSD, given that they are algorithmic stablecoins that operate similarly to UST. Crypto exchanges warn against USDD and USDN Upbit, which is the largest crypto exchange in South
The post These Two Stablecoins Are De-pegging As Crypto Markets Crash appeared first on CoinGape.
In a bid to improve transparency surrounding its new algorithmic stablecoin, Tron has revealed details of its new coin’s collateralization strategy.
The post TRON’s USDD Stablecoin Collateral Building Up to Prevent Repeat of Terra’s UST Stablecoin appeared first on BeInCrypto.
Amid uncertainty over the reliability of stablecoins and bearish trends in the crypto market, one stablecoin continues to shine. The recent meltdown of Terra ecosystem brought to the fore the trustworthiness of various stablecoin projects, including the USDD stablecoin. Meanwhile, the Terra ecosystem is preparing for migration to Terra 2.0 and the LUNA airdrop. After
The post Tron Stablecoin Reaches Key Milestone Amid Bearish Trends appeared first on CoinGape.
After suffering brief resistance from traders following the Terra ecosystem meltdown recently, the USDD stablecoin appears to be regaining steadily. Adding to this trend is increasing market expansion for the Tron-backed stablecoin. Just few days before the Terra crash unfolded, the TRON DAO Reserve introduced USDD as a cryptocurrency with stable price and diverse use
The post Just In: Amid Crash, Market Expansion Could Boost This Stablecoin appeared first on CoinGape.
The failed attempt from the TRON (TRX) buyers to escape the range-bound rally indicates a potential downfall to the $0.057 mark. The $0.075 fallout brings a short opportunity for interested traders to take an 18% target. Can the concentrated EMAs stall the upcoming freefall? Key points The TRX price has lost 16% since the last
The post TRX Price Analysis: Fallout of $0.075 Support Hints 18% Drop in TRX appeared first on CoinGape.
In the midst of an unprecedented meltdown of the Terra blockchain and the market’s subsequent testing of stablecoin prices, another algorithmic stablecoin is making significant strides. In a latest move, Tron’s USDD stablecoin has been officially listed on the Huobi exchange on Friday. The move could significantly help the stablecoin expand its base further. TRON
The post This LUNA $UST Stablecoin Rival Makes Positive Strides Amid Crash appeared first on CoinGape.
The TRON(TRX) price escaped a three-month-long consolidation phase with a bullish breakout from the resistance trendline of the inverted flag pattern. The breakout rally tagged an overhead resistance of $0.09 and reverted to a retest phase; however, the RSI indicator suggests weakness in the bullish momentum despite a strong follow-up candle. Key points The TRX
The post TRON Price Analysis: RSI Divergence Tease Minor Correction In TRX appeared first on CoinGape.
The crypto market saw one of its worst crashes ever over the past week, amid concerns over rising inflation and interest rates. But three tokens appeared to have largely outperformed the 50 largest cryptocurrencies, with each seeing their own share of bullish news through the week. Tron (TRX), Monero (XMR) and Algorand (ALGO) rose in
The post These 3 Cryptos Are Leading A Recovery From This Week’s Crash appeared first on CoinGape.
The TRON(TRX) price reverted from the $0.075 resistance and triggered a new bear cycle within an inverted flag pattern. This continuation pattern could extend the prevailing downtrend if buyers lose the dynamic support trendline. Key points The TRON price plunged below the EMAs support(20, 50, and 100) The inverted flag pattern fallout could descend the
The post TRON Price Prediction: Bearish Flag Pattern Teases a 15% Fall in TRX appeared first on CoinGape.
Tron (TRX) token price surged on Friday after founder Justin Sun announced plans to launch a new stablecoin based on the blockchain. The token, called USDD, will be a decentralized token. TRX token prices surged 10% in the last 24 hours, reaching a three-week high of $0.074. While most altcoins followed Bitcoin’s (BTC) lead lower,
The post Tron (TRX) Is Pumping Amid A Crypto Crash, Here’s Why appeared first on CoinGape.
A new heated crypto controversy about Tron founder Justin Sun has started after journalist Christopher Harland-Dunaway from The Verge released an article in which he claims strong evidence about Sun committing several crimes and fraud. A Roasted Sun Journalist Christopher Harland alleges to have obtained information from 15 current and former employees of Justin Sun and around “hundreds of pages of leaked documents.” All sources remain anonymous as Harland claims they fear retaliation and even putting their lives at risk. This story portrays a Justin Sun that will do anything for money. “Sun learned early that in the world of cryptocurrency, heaps of money can be made with ease, so long as you’re ready to exit before it catches up to you.” Around the lines of market manipulation, BitTorrent’s chief financial officer, Dipak Joshi, might have confided to one of the employees that Sun told him “they were running an insider trading team in Beijing.” This team supposedly made sure that “the TRX price is at some level Justin wants.” Allegedly, they did this by working with crypto whales so these wealthy spenders could pump the price of TRX after Tron’s good announcements. Then, they could sell at a major profit. The old pump-and-dump. The journalist consulted with several experts who agreed that “Tron’s Beijing market-making team appeared to be using “material nonpublic information” to make trades.” This is a crime with a maximum penalty of a 20-year prison sentence in the US. Fearing the U.S. Securities and Exchange Commission (SEC), Sun allegedly made several moves and went from one lawyer to David Labhart to another lawyer over the years, treading a fine mesh of profit and possible crimes. The story gets wilder with Sun’s purchase of Poloniex, a crypto-asset exchange with a bad reputation. “Polo used to be shitcoin casino numero uno,” a former employee said. “It would list everything.” “People would constantly do pump-and-dumps on it. It was just, like, completely Wild West,” a former employee said. An employee claimed that the corporate structure of Poloniex was quite obscure, possibly so it could be very difficult for customers to sue Poloniex. Apparently also one of the reasons the company was moved from Massachusetts to Seychelles: Anyone suing would likely have to go to court in Seychelles. The Poloniex story alone has many layers. Sun allegedly “bulldozed” the exchange’s KYC rules to accelerate its adoption in China. According to the sources, they built a new permissive KYC system in which it “Didn’t matter if they submitted a pic of Daffy Duck.” But possibly one of the worst allegations is that “he started to see all the possibilities of using Polo as more or less his personal bank.” Sun might have converted customer funds in Poloniex for personal use by tracing old, undelivered, and seemingly unrecoverable crypto transactions and possibly keeping almost 300 BTC in his own pocket. If one traces all the Sun controversies over the years, one book might not be enough to contain all the claims. But hows has Sun been able to resort to all this trickery and walk free? Employees suggested he seemed to not fear the consequences. Apparently, Sun has bragged about being a citizen of the Caribbean islands, Saint Kitts, Nevis, and Malta. Another big list of his is Sun’s excessive number of bank accounts. This could point to tax evasion and a possible plan to run away from authorities. The grand jury could be exploring a long list of charges against Sun: “wire fraud, conspiracy or intent to commit wire fraud, swindling, money laundering, spending the spoils of a criminal enterprise, failure to register a security and lying about it, aiding and abetting a crime, and conspiracy to defraud the United States.” Related Reading | Tron Foundation Says Goodbye To Founder, But Where Is Justin Sun Going? Justin Sun Responds Justin Sun responded and called the article “false accusations and fabricated storytelling.” He claims that “Poloniex has always enjoyed a sterling reputation from its origin as a Secure Asset Fund for Users exchange;” called the claimed operations false; added that they have “always strived to collaborate with regulators and invested in state-of-the-art KYC facilities in line with the industry standard,” and “Poloniex is not registered in Seychelles” (they might have changed registration, again). However, there have various cases against Poloniex, like the one from the SEC or the OSC. Note where Poloniex was registered in just a year ago: Sun’s counterarguments seem misleading and raise even more questions. Claims all piling up. Over the years, many users have alleged that Poloniex is a scam, some examples: Related Reading | Sun To The Sun? Tron Founder Will Go To Space On Blue Origin Mission Next Year TRON Price TRON (TRX) is down 4.98% in the last 24 hours. TRX seem to be following the general crypto market trend, not having a reaction to Harland’s claims.
Crypto whale and founder of the TRON (TRX) blockchain, Justin Sun, has been moving funds between his wallets. According to on-chain data, Sun has now moved $166 million worth of stablecoins from exchanges to his wallet addresses in the past two days. Is Justin Sun dumping Ether? Chinese journalist Colin Wu noted today that in
The post Incoming Bear Storm? Justin Sun moves $166 million Stablecoins from Exchanges to his Address appeared first on CoinGape.
