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August 2021

TRON (TRX) to Release Version 1.0 of the Sun Network on August 10



According to TRON (TRX) founder Justin Sun, the company is planning to launch Version 1.0 of the Sun Network on August 10. The founder took to Twitter to make the revelations, indicating the Sun Network was one of the 100X scalability solutions of TRON. The network is expected to be optimized on September 15.

Scalability Solution to Enhance Transfers

The Sun Network is a fast blockchain solution for smart contracts, distributed apps, and cross-chain activity. Justin Sun indicated that the solution will also include the DappChain that will allow developers to use the 1.0 code in creating a sidechain system that enhances the speed of distributed apps.

Equally, it is expected that the chain will use DPoS mechanism, which will ensure there is quick verification of transactions. User security and fluidity of transfer of tokens between chains will be enhanced through the smart contracts on the sidechain and main chain. Also, another amazing feature about the Sun Network is its ability to support costless transactions.

However, despite this positive news, TRX price did not change, and it remained rooted around $0.022, trading even lower against Bitcoin.

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TRON Continues to Perform Poorly

It, therefore, remains to be seen whether the launch of the Sun Network will turn fortunes for TRX. Prior to the announcement, anticipations for the launch failed to enhance interest for the altcoin following the plunge of altcoins in recent Bitcoin surges.

Currently, the TRON Network has been working on the implementation of Tether (USDT) on its platform while providing a special incentive plan for holding onto TRON-based USDT. The incentives are relatively limited because the amount of TRON-based USDT that is held in user wallets is limited.

TRON also felt the effects of the recent Binance IEO, WINk, and it dropped immediately and has since been hovering around 3 Satoshis with very minimal activity. The project has raised skepticism because of its unusually large staking rewards and the possibility of breaking monitoring restrictions.

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Bitcoin Suddenly Crashes 8% as Momentum Fades After the Recent Rally



The crypto space can be highly volatile for traders, and over the years, Bitcoin (BTC) has proven to be among the more volatile cryptocurrencies. Over the past few days, the world’s biggest cryptocurrency by market cap had managed to make a comeback of sorts, but the volatility returned once again today. Such volatility was last seen back in November 2019.

Key Drivers

At around 5 in the morning Hong Kong time, the cryptocurrency plunged by as much as 8% within a matter of 45 minutes, dropping down to $9,320 per coin.

While the meltdown in Bitcoin did come as a surprise for many in the market, the cryptocurrency clawed back from those levels and eventually hit $9,598 a coin some hours later. Emmanuel Goh, who is in charge of the crypto derivative tracking company Skew, stated that the dramatic plunge in BTC was possibly a technical move, which may have been triggered after highly leveraged derivative positions had been called in.

Despite the dramatic fall, it should be noted that BTC is still up by as much as 20% so far this year. At this point last year, the coin had been in the middle of a remarkable rally.

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The surge in Bitcoin over the course of the year so far is possibly due to the fact that many now see it as a legitimate hedge against the turmoil in the financial markets. The outbreak of the coronavirus epidemic in China has spooked markets all over the world, as fears continue about the shutdown of many factories in the country.

In such a situation, BTC has become the preferred hedge for some investors as they look to protect their capital. Investors could keep an eye on the Bitcoin price action over the coming days.

What do you think?

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Bitcoin Price | Price Jumps Above $8K Mark Again

Bitcoin Price

Bitcoin Price

Back in 2017, Bitcoin was the biggest news story of the year after it went on a jaw-dropping bull run and reached a price of $20,000 per coin. However, from those heady highs, the bitcoin price soon started dropping and throughout the course of 2018, Bitcoin and the crypto market at large were on a bit of a tailspin.

However, 2019 has been a different kind of year for Bitcoin as the price continued to surge from one month to the next and as of Tuesday morning, bitcoin price reached an $8,000 mark. It is the culmination of a brilliant year so far and is the highest price it has reached since July last year.

Solid Rally

Throughout 2019, Bitcoin price jumped at a conservative pace, but by the end of April and the beginning of May, the price started climbing at a breakneck pace as talk of another monstrous bull run started circulating in the crypto space. On Monday Bitcoin price surged to $8000 but one some exchanges it reached higher prices as well. For instance, on Bitstamp, it reached a price of $8,131, which reflects a 24 hours rise of a massive 17%.

However, the reasons for optimism this time are different. There is a big possibility that significant institutional capital could not put into Bitcoin. Fidelity is all set to open its crypto offering in which big institutional investors are going to be able to buy Bitcoin and in addition to that, widespread institutional interest is being shown for the cryptocurrency.

Is the Bitcoin Price Sustainable?

Despite the current optimism surrounding Bitcoin, the big question remains whether this rally is going to sustain and whether the cryptocurrency the same heights that it did before. In that regard, it must be said that experts are not yet sure whether this rally is going to hold and some have even gone on to state that they are not yet sure whether this can even be called a bull run or not.

That being said, some big moves are currently being made by large Bitcoin holders, who are often referred to as ‘whales’. Single transactions worth hundreds of millions of dollars are taking place between large Bitcoin holders and while it may be a sign of an impending bull run, it could also be a case of bitcoin price manipulation.

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