Monero [XMR] & Tron [TRX] – The cryptocurrency market is riding the fence on red/green today. Currently, the total market cap is just over $333 billion. Yesterday, Microsoft announced that it would be acquiring GitHub and it caused quite a lot of drama within the crypto space.
There doesn’t seem to be any big and breaking news this Tuesday morning. Let’s take a closer look at two trending coins on the market today, and their recent updates.
With yesterday’s announcement about GitHub, many developers are turning to a new software platform called GitLab. With the new acquisition, many have begun to question what that means for the projects that actively use the GitHub platform.
One of these projects includes Monero, the long-standing ‘anonymous’ cryptocurrency. Bill Gates originally founded Microsoft back in the 1970s and has been vocal about his views of cryptocurrency in the past. Three months ago, the founder commented on crypto in a Reddit “Ask My Anything” and said:
“The main feature of crypto currencies is their anonymity. I don’t think this is a good thing. The Governments ability to find money laundering and tax evasion and terrorist funding is a good thing. Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way. I think the speculative wave around ICOs and cryptocurrencies is super risky for those who go long.”
While Gates hasn’t been an active CEO since 2000, the company did ban any cryptocurrency advertising on its platform last month. Many feel that Monero will leave GitHub and switch to GitLab, shortly. Would that be a smart move for Monero? We don’t know, because it remains unclear what Microsoft has in store for GitHub. We will soon find out.
At press time, XMR is trading at $161.70 a coin, up 1.37%.
Tron launched its main net just a week ago and has yet to meet investors price spike expectations. Just after its ICO launch, TRX saw spikes of well over 100% in a day, after ‘potential partnerships’ were announced. Yet, when its main net and the actual product was launched, it saw small spikes in price.
The market has been extremely bullish lately, especially the month of May, but still, EOS had a strong price run-up on its main net launch the other day – so what’s the deal?
It may be that many Tron enthusiasts are comfortable with the amount of TRX they currently are holding and didn’t feel inclined to stock up on more, or new investors are waiting to see how the main net actually performs before buying in.
Still, it’s been rather disappointing to see it’s price dip as much as it has. Tron is years from full completion, and a lot of these new coins are long-holds, but we will see what this team can do in the next coming months. Were you disappointed with TRX’s movement the last week?
At press time, TRX is trading at $0.0582 a coin, down -1.01%, in 24 hours.
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