The cryptocurrency markets are in the red after early Sunday reports that the popular the South Korean exchange known as Coinrail had been successfully hacked and some amounts of crypto taken in the process. The affected coins were those of NPXS, NPER, and ATX. As a result, Bitcoin (BTC) and the entire crypto markets have tumbled considerably since then, and at the moment of writing this. This is due to fearful traders taking their digital assets out of exchanges or even cashing out completely.
The total crypto-market capitalization has lost a total of $20 Billion from earlier Saturday levels of $340 Billion. The King of Crypto, also known as Bitcoin (BTC), experienced a free fall from $7,600 to lows of $7,220. This is a drop in the value of 5% in less than 24 hours.
Observing our favorite token of Tron (TRX), it too has been affected by the ripple effect of the news of the hacking. TRX has dropped from values of $0.0577 that were considered by many, as the bottom for the token before the Independence day on the 25th of June. The current values of TRX indicate that it is valued at $0.053 and has dropped a little over 8% in 24 hours.
But with every dip or decline in the crypto-markets, lies the opportunity to buy more of your favorite token or coin. Many in the TRX community believe that TRX cannot go any lower than it is at the current levels. This means that this is the best time to get some more TRX ahead of the token migration that starts from the 21st to the 24th of this month. The final event in this MainNet road-map will be the launching of the Genesis Block on the 25th of June in a feat that has now been declared as Tron’s Independence Day from the Ethereum platform.
The current countdown on the Tron Website indicates that the countdown reads 13 Days and a few hours. This means we are less than 2 weeks away from the anticipated 100% functionality of the Odyssey v2.0 Tron MainNet platform. The current bug bounty program will assure that any bugs on the platform are discovered ahead of time and dealt with in a timely manner.
One needs only remember the case of EOS’ vulnerabilities being found a few hours to the MainNet launch, to understand why Justin Sun and the Tron Foundation have put the upper cap of the bug bounty reward at $10 Million. This will, in turn, attract the best of the best to test the MainNet platform and guarantee its security and stability.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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The post Here Is Why Tron (TRX) Still Looks Good After the Flash Crash appeared first on Global Coin Report.
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