Regardless of Tron's alleged successes (TRX), there is still much justified lack of confidence in the project in the larger cryptographic community


The price of Tron has had a couple of interesting moves over the last month. It reached the peak on October 8thth with the value of $ 0.027070, behind a volume of $ 382,100,796. Hence the currency fell along with the rest of the market, reaching a monthly minimum of $ 0.021112 out of 12th. TRX rebounded from this fund to $ 0.026629 on the 15thth. This turned out to be its last peak as the price went into a solid bearish trend ever since.

TRX can be purchased for $ 0.022235 USD (increase of 0.32% in the last 24 hours) / 0.00000354 BTC (increase of 0.61% in the last 24 hours). This price is 92.42% less than the historical maximum of $ 0.294743. The daily trading volume of TRX is $ 58,883,983, with platforms such as Rfinex (14%), Bit-Z (9%) and Binance (8%) offering most of this. With a market capitalization of $ 1,461,905,440, Tron is currently the 11thth most valuable cryptocurrency on the market.

InvestingScope is currently shorted on TRX:

"Tron did a Lower High (0.02362) on the 1D Channel Down (RSI = 43.026, Highs / Low = -0.0012) and was immediately rejected on a strong bearish candle that crossed the Fibonacci retracement level of 0.500 (0.022663). It is now necessary to overcome the previous Lower Lower (0.020712) to keep the downward momentum on the 1D Channel Down intact. We remain in the short term, TP = 0.01600 (1W support). "

Check out its complete analysis here.

As always, there have been several project updates that the team has been diligently promoting online. Tron's weekly report covered various results that were completed in the penultimate week of October. regarding technical developmentseveral optimizations have been implemented, including the SolidityNode index and the TVM execution process.

Community updates of course we did not stay behind because we saw a lot of activities here too, starting from 4th episode of the introductory videos for the Japanese community of Tron, over 4th lesson of TRON 101 (series that demonstrates the advantages of blockchain and blockchain knowledge) to a promotional campaign organized by that will try to share some TRON links with the community. Hooded sweatshirts, t-shirts, caps, notebooks, commemorative coins, USB sticks, Justin Sun's book and other items are up for grabs here.

Community of developers saw a little expansion when more than 350 members joined the project's Discord. 33 exchanges completed the update to version 3.1.2. Last Trip, TronDice, TronBet were among the dApps that have been published. A partnership with DappReview will ensure that these dApps are listed in the Discovery section of the project where users will have the opportunity to test them. The Dapp community has seen numerous new developments, including Tronscan which launched its smart contract function and DApphouse live. Dapphouse works like an app store for dApps because it stores every dApp built on the TRON blockchain.

Team / partnership the section was in full swing, as the founder of Tron opened the business by welcoming the group from the Oracle blockchain to the Tron Foundation offices. Justin also visited the United Nations World Investment Forum, where he participated in the "Blockchain for Sustainable Development" session with Binance CEO Changpeng Zhao. Finally, JOYSO, a "decentralized hybrid trading platform for cryptocurrencies that reduces the risk of being hacked and offers users cost-efficient trading" confirmed its official partnership with Tron. The teams will work together to develop a decentralized hybrid exchange for TRON networks.

In addition to the official weekly report, there were also a couple of tidbits on the side. The Tron Society was officially assigned the role of TronSR.

Tronbet, a betting debut built on the TRON blockchain, has reached the 200 million TRXs won by its users. The data show that "the house" has still managed to stay in the green here. Trust Wallet has expanded its range of storable cryptocurrencies including TRX. Finally we saw a demo version of the TronWatch Market market, a decentralized exchange based on the Tron blockchain. This DEX will try to provide its customers with a secure, fast and fun token trading TRON, TRX10 and TRX20.

Overall, the TRON project was extremely challenging and did not fail to impress with the amount of updates. It remains to be seen if this will materialize in any real quality in the future.

However, there is some discomfort about the legitimacy of this project, no matter how melodic Justin Sun and his promises sound. Perhaps it has something to do with the marketing methods Sun uses: pre-announcement announcements, dubious white paper and partnerships with fragile companies that others have traced as Justin Suns own projects.

Time will tell, but in my eyes Tron is more likely a flop than a top.

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The writers and authors of CapitanAltcoin may or may not have a personal interest in any of the projects and activities mentioned. None of the contents on CaptainAltcoin is an investment advice, nor does it replace the advice of a certified financial planner.

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