| Tron (TRX) |  | Tron (TRX) is a blockchain platform launched as the foundation for a decentralized entertainment ecosystem. Created by controversial figure Justin Sun, Tron focuses on expanding the market of decentralized digital content applications by making it easier to create and deploy them. The Tron mainnet launched Jun 2018, and the Tronix TRX is the proprietary cryptocurrency token of the Tron blockchain. It has a current market cap of over $1.33 billion, a circulating supply of 99.1 million, and has traded over $23.4 million in volume during the past 24 hours according to CoinMarketCap.com.
TRX/BTC is breaking out of a long-term double bottom formation on the weekly charts with a close above 0.00000429. The target, based on the height of the pattern is 0.00000560, but the potential move could carry the price to the 61.8% retracement at 0.00000750. A potential stop could be placed below the weekly low near 0.00000400.
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| | News To Know | | Facebook Developing Cryptocurrency for WhatsApp Transfers Amidst Another Privacy Scandal>
According to sources, Facebook is developing a cryptocurrency that would enable money transfers to be done through its messaging app WhatsApp. As stated in the publication by Bloomberg, the company is working on a stablecoin pegged to the US Dollar to minimize volatility.
Bloomberg Vouches for Tether's Dollar-Backing
Bloomberg has claimed to have witnessed bank statements evidencing that Tether does indeed possess the dollars required to back the USDT tokens that are in circulation. Despite the bold claim, nearly all documentation cited in the report is dated from the year 2017.
Number of Crypto ATMs Steadily Growing Amid 'Crypto Winter,' Data Shows
The number of new crypto ATMs around the world continues to grow despite the recent crypto market collapse, according to data. Crypto teller locator Coin ATM Radar presented the data in a report published Monday, Dec. 10.
Upbit Cryptoexchange May Have Faked Trades
Upbit, Korea's second-largest cryptocurrency exchange, is being accused of fabricating 254.5 trillion won ($226.8 billion) worth of orders to inflate volume and attract users. The Seoul Southern District Prosecutors' Office announced Friday that it indicted three executives and senior managers of Dunamu, the Upbit operator, on fraud charges. Among those indicted is the company's majority shareholder and former CEO.
ICE's Bakkt to Launch Bitcoin Futures with Physical Delivery
Intercontinental Exchange Inc (ICE), operator of the New York Stock Exchange is about to launch Bitcoin futures contracts with physical delivery of the underlying asset. The instrument is aimed at institutional players who want to get exposure at this market, though they are concerned with many risks related to the lack of regulation and vulnerability to manipulations.
US Lawmakers File Bill to Exclude Cryptocurrencies from Securities Definition
Two U.S. congressmen have introduced a bill aimed at amending the country's securities laws to exclude cryptocurrencies from the definition of a security. The bipartisan bill also seeks to adjust taxation and create tax exemptions for certain cryptocurrency transactions.
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| | | Source: Coinmarketcap.com | | | |
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