Is Tron (TRX) Steadying Because of ChainLink Partnership Rumors?

Tron prices up 2.5 percent but out of the top 10
ChainLink and Tron partnership rumors may support prices
Transaction volumes drop, averages 6.9 million against 37 million of Feb 24

Rumors are rife that Tron and ChainLink are on the verge of collaboration. If that is the case, Tron (TRX) stands to benefit as demand help lift valuation from current pits. The coin is up 2.5 percent from last week’s low but could print above 2.5 cents by end week.
Tron Price Analysis
Fundamentals
Ethereum introduced smart contracts. Smart contracts depend on the underlying blockchain for security and immutability. As an autonomous piece of code and highly reliable when executing the pre-programmed set of conditions, it will be useful in the real world with fluctuating variables if there is a connection, an oracle that feeds and updates it will real-time data. That is what ChainLink does, and while acting as a gap between on-chain and off-chain infrastructures, they enable smart contracts like Tron’s access verifiable APIs, real-time data fees or payments while remaining decentralized without a single point of failure or downtime.
It is this agent, an oracle that Tron-based smart contracts will draw their source from if this spreading rumor is indeed true. While unconfirmed by the Tron Foundation or ChainLink, this “collaboration” will remain as it is—conjecture.

Still unconfirmed but possible @Tronfoundation + @chainlink partnership being announced tomorrow. This email was supposedly sent by the $TRX foundation.#Chainlink can trigger #SmartContracts on any #Blockchain.
@justinsuntron $LINK #TRON pic.twitter.com/Zt2MNqpgSO
— LINK News Oracle (@LINKNewsOracle) March 12, 2019

Nonetheless, this is good news and days after announcing a liquidity creating partnership with Tether, a connection that would see smart contracts activate based on real-time signals will make the network and by extension TRX more desirable for businesses. Already, Tron dApps are drawing more volumes surpassing those of Ethereum and EOS cementing the Foundation’s bottom line.
Candlestick Arrangement

Even so, TRX is down to 11th in the market cap ranking after two weeks of dismal performance. TRX is down 2.5 percent from last week and relatively stable in the previous day. Because of this and unexpected demand in lower time frames, our last TRX/USD trade plan is valid.
Therefore, bulls are in control although the lack of confirmation and TRX close above 2.5 cents should be a worry. Our confidence relies on the price action of the past two days. Visibly, TRX prices are printing higher highs, away from the lower BB meaning momentum is building up.
However, before we recommend longs, prices must break and close above 2.5 cents, confirming the three-bar-bull reversal pattern of Mar3-5.
Technical Indicators
As mentioned above, a single bull bar thrusting prices above 2.5 cents would usher in TRX demand that would likely drive prices towards 3.1 cents.  For that to print out, volumes must exceed 6.9 million average and 13 million of Mar 4.
The post Is Tron (TRX) Steadying Because of ChainLink Partnership Rumors? appeared first on NewsBTC.
Source: New feedNewsBTC.com

MIT Technology Review: Blockchain to Become Mundane in 2019

CoinSpeaker

MIT Technology Review: Blockchain to Become Mundane in 2019

MIT Technology Review published an article, providing an overview of the recent history of blockchain and explaining why it will start to become mundane in 2019. 

MIT Technology Review: Blockchain to Become Mundane in 2019

Continue reading at Coinspeaker
Source: CoinSpeaker

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

CoinSpeaker

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

Coinbase is exploring a possibility to add support for a list of 31 coins, including XRP that is currently the second-largest cryptocurrency by market cap.

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Plunges to $6,400 while Altcoins Crash, Experts say Red isn’t Over Yet!

Bitcoin drops down to $6,394 while altcoins take a serious plunge causing BTC dominance at year’s highest. Though people are hoping for a reprieve, experts are pointing towards another low which if Bitcoin crosses can accelerate the downward plunge.
Crypto street running red, BTC dominance at year’s highest
The market is in extreme red as cryptocurrencies take a nosedive and fall down in double-digit percentages. At the time of writing, Bitcoin has been exchanging hands at $6,394 with a loss of close to 10 percent in the past 24 hours. Today’s price range has been $6,302 and $6,731.
Source: Tradingview.com
The entire market cap has lost about $35 billion as it crashes from over $236 billion of yesterday’s highest to $201 billion today. However, as Bitcoin dropped, altcoins took an even deeper fall causing BTC dominance to rise to this year’s highest at 55%.

If we take a look at the top cryptos, the ones with the sharpest fall are:

Ethereum (ETH) is down by 13.20% at $$226
EOS is down by 14.84% at $5.03
Litecoin (LTC), Cardano (ADA), and Tron (TRX) are down about 12%
IOTA (MIOTA), Dash, and NEO are dropping in the 14% range

The only coins in the green are:

Chainlink (LINK) is up by 2.%86 at $0.2773
Dogecoin (DOGE) is in the green barely by 0.01% at $0.0049

Also, read: Crypto Market in Free Fall- Is it Fundamental, Technical or Something More Sinister?  
Bitcoin enthusiasts feeling bearish, experts say the drop just might accelerate
Crypto expert and founder and partner at Morgan Creek, Anthony Pompliano shared a tweet regarding the market sentiments:

Want to know why there isn’t a crypto ETF approved yet?
We just saw $100 million of Bitcoin dumped on the market in less than 10 minutes.
It caused more than a 5% decline in BTC price. Some argue volatility, others argue manipulation.
The truth is no one knows.
— Pomp 🌪 (@APompliano) September 6, 2018

As crypto market worsens, optimists try to bring out their points as crypto enthusiasts come up with tweets like:

It’s so clear looking at the charts that $BTC is just shaking out the weak hands before it pumps to $12k. #Bitcoin
— Satoshi Wolf 🐺 (@SatoshiWolf) September 6, 2018

However, pessimist or realists, rear their ugly heads and believe Bitcoin price is going to drop down further. Bitcoin enthusiasts aren’t feeling at all good about the market right now as Tweets like these emerges:

$BTCUSD day chart,
if all those magic bullwhales won’t react to this, we could see Bitcoin going at 5K levels in the next weeks.
On the positive side, I see a falling wedge, which is a solid reversal pattern.
keep the hope guys!!#crypto pic.twitter.com/RgxXD2Xv43
— Don ‘Lucky’ Crypto (@SmartTipps) September 6, 2018

Best meme yet #JustDoIt #Nike #Bitcoin $BTC pic.twitter.com/Q9tUou2UkQ
— Ace of Crypto ♠ (@AceOfCrypto) September 6, 2018

However, experts are feeling the same as Bloomberg stated Stephen Innes, the head of trading for the Asia Pacific at Onada Corp. said the next key level for Bitcoin is $5,000. If Bitcoin fails to hold this and crosses this threshold, it might end up accelerating the losses.
A bearish trend seems to be in order according to the experts as Mike McGlone, Senior Commodity Strategist at Bloomberg says this is a bearish market and Bitcoin shorts are spiking. He also shared Bitcoin might fall to $5,000.
Whereas Bitcoin longs aren’t seeing much action, shorts keep on going up and up, adding  ₿7,000. Bitcoin shorts are almost to their all-time highest, betting for Bitcoin to go down.
Anthony Grisanti, a guest on CNBC also shared that the short-term market movement is pointing downwards.
Additionally, EU might also make a move towards crypto as Bruegel, Brussels-based think tank prepares a document for EU finance ministers to promote regulation of digital assets and ICOs as reported by Reuters,
“Now the possible expansion of the crypto exchange business in Europe and considerable interest in ICOs in EU countries, which account for 30 percent of the global market in terms of projects funded, is pushing regulators to take a closer look.”
Currently, the market is not looking good at all, with bears strongly positioned. And as experts point out another drop to $5,000, it is a possibility we just might see it but lately, Bitcoin has been going for higher lows, so it’s all wait and watch for now.
The post Bitcoin Plunges to $6,400 while Altcoins Crash, Experts say Red isn’t Over Yet! appeared first on Coingape.
Source: CoinGape