What a week it’s been on the crypto markets. Investors may be feeling a little withdrawn and overall, things have looked a little bleak through the week as a result of what looked to be a huge market downturn. We see this as a prime example of how volatile the markets are, there are big lessons to be learned when the markets crash like this, these lessons are explicit but simple - cryptocurrency investment is very risky. When we tell you to only invest what you can afford to lose, this is why. Nobody knew this fall would happen since the markets are truly impossible to predict.
If you trade safely, however, you can prepare for these instances and protect your investments. Our last piece of advice is this - what goes down, must come up… that’s the saying, right?
Despite the negativity, the good news continues to flood the crypto headlines, thankfully, this industry still manages to remain positive with breaking news headlines popping out all over the place. The stars of this week include TRON, XRP and IOTA, let’s explore what’s happened.
TRON continues to move
TRON, led by Justin Sun and the TRON foundation continues to move forward, hitting the headlines not once, but twice this week. First of all, we saw an announcement that suggests TRX, the native token to the TRON project has been listed on two more exchanges; Blockport and Scatter, Sun stated the following via Twitter to fully confirm these new listings for TRX:
“We’re excited to announce the listing of @Tronfoundation on our trading platform! Blockport users can now buy and sell Tron’s token, $TRX, directly through our Euro gateway.”
“TRX is now supported by @Get_Scatter, a secure multi-blockchain signature, identity and reputation desktop application.”
Moreover, TRON has continued to creep into the headlines with further news, this time regarding one of the projects operating within the TRON blockchain - NEOWorld. This is important news as with NEOWorld, an online multiplayer game, comes a native cryptocurrency named NASH. Within this:
“Players will earn NASH by taking part in projects which require collaborative work such as helping build up a theatre where actors can perform or other services within a building that has already completed. Players can also buy NASH from crypto exchanges or from other players. Then you will be able to use NASH to buy more land or improve the land that the players are the owner of.”
As you can see, NASH is an integral part of this game and is giving the TRON blockchain some real use value. Let’s remember that TRON now exists on its own mainnet and is now, therefore, a competitor to Ethereum, so having projects such as NEOWorld on board really is doing great things for the overall reputation of TRON as a growing blockchain project.
Another Ripple partnership
XRP, the native cryptocurrency to the Ripple project has seen a huge boost this week with an announcement that hit the headlines - one of the largest banking groups in Asia have confirmed a partnership with Ripple, through RippleNet. CIMB Group, the bank in question is considered to be the fifth biggest bank within the Southeast of Asia and thus is one of the largest across the continent. Within their announcement, CIMB has stated:
“Ripple’s blockchain-based solution has been deployed to enhance CIMB’s proprietary remittance product called SpeedSend. This service allows customers to send and receive money with direct account crediting and instant cash collection. The enhancement improves their access to cross-border remittances across the globe — both inbound into ASEAN and outbound to other countries. It is already enabling remittances to corridors such as Australia, USA, UK and Hong Kong. This innovative blockchain solution will revolutionize international cross-border remittances, and is a testament to CIMB’s ongoing efforts to enhance its digital banking proposition by providing speedy and cost-efficient solutions to our customers across ASEAN.”
This is evidence that XRP is continuing to break into Asian territory. It’s common knowledge that XRP is a favoured cryptocurrency for Japan, though Ripple won’t stop until the entirety of the Asian markets have been dominated by their (obviously) favoured cryptocurrency.
IOTA, one of the favoured ‘Internet of Things’ blockchain projects has broken headlines this week through its new work alongside engineering firm, Bosch. This will see Bosch working alongside IOTA to integrate blockchain technology with their physically manufactured hardware complimenting that Internet of Things ideology.
Within their blog, Bosch has made a recent announcement to confirm this new partnership:
“The use of the innovative IOTA Tangle technology results in higher scalability and becomes faster and even more secure the more activity there is. It is, therefore, a serious transaction settlement and data transfer layer for the Internet of Things. Connected devices & data drive the future of our world. A very promising development in this area is taking place right now!”
This is, of course, isn’t the first time IOTA have been liked with a major engineering firm, as it stands we already know of partnerships involving the likes of Volkswagen and IOTA and can guess that many more are currently in the pipeline. A big part of IOTA’s plan is to make the blockchain physical, therefore in order to do this, they need to be operating within a manufacturing setting. Thankfully, the IOTA team takes incredible steps toward making this happen.
As you can see, even though the markets have been disappointing, the news continues to flow. Therefore, keep your eyes on Crypto Daily for the latest breaking and trending cryptocurrency news. We keep up with the headlines for you, giving you time to focus on your portfolio and the important things!