Hey guys, it’s Cindy here with the CryptoPig Channel, and today I have some pretty awesome news, especially after the crazy bull run we’ve been having. So let me share with you the topics now. First up, the creators of Opera web browser has announced plans to integrate support for TRON and TRC standard cryptoassets soon, to enable users to seamlessly access their TRX tokens as well as TRON-powered decentralized applications (dApps) right from their browsers. Then when it comes mass interest in Bitcoin, we’re definitely seeing the return of it considering Coinbase has hit trending on the AppStore. Furthermore, a legendary millionaire investor pivots his opinion from Fraud to Alive and Well on Bitcoin, and 10,500 BTC Short POsition Closed on Bitfinex, short drops nearly 40%. I told you guys there would be heaps of cool and exciting news today and once again, if you want to hear about all of it, make sure you stay right until the very end.
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Now let’s look at how the market is performing. After a crazy Bullrun, I’m not so surprised to see that the market is looking quite red today. Bitcoin has fallen by 5.74%, Ethereum by 3.31% and XRP falling big with a 12.85%. Big decreases with Litecoin, Stellar and Cardano. You can see a similar pattern emerge here with the top 20 tokens. Unfortunately, Tron has fallen by 15.08%, Bitcoin SV by 16.01 and NEO by 11.61%.
Lets look to the news! According to a Coindesk report, Opera, one of the leading web browser brands currently in existence, has revealed its working hard to add support for Justin Sun’s TRON and TRC-standard cryptoassets in its browser-based cryptocurrency wallet.
Now, what does this mean for the TRON blockchain project and hodlers of its native TRX altcoins? If all goes as planned, the more than 300 million users of Opera will be able to access their TRX tokens, play TRON-based games and seamlessly use other dApps straight from their browsers, without third-party extensions. It’s worth noting that Opera browser’s in-built cryptocurrency wallet already supports ether (ETH) and other ERC-20 tokens and the team has made it clear that after successfully integrating support for TRON, numerous other tokens will be added. While top financial regulators across the globe are still trying to formulate policies to guide the crypto space, forward-thinking firms like Opera, Brave Browser and others are relentlessly fueling cryptocurrency adoption. At this rate, it’s only a matter of time before blockchain-based virtual currencies go entirely mainstream.
Moving on, we have Coinbase! According to Invest In Blockchain, Coinbase has hit trending on the Appstore. Now, this is fantastic news. It appears there is truly a resurgence in interest in Bitcoin. The increase in the Coinbase App popularity was most likely due to the recent bull run, with interest coming from would-be investors. Will we see something similar to the late 2017 market where Bitcoin rose like crazy almost hitting 20k with the token and market soon crashing the following year, turning many would be investors from the industry? Perhaps, the crypto market is definitely a cyclical one.
Moving on, CCN reported that a Legendary millionaire investor has pivoted from fraud to alive and well concerning his thoughts on Bitcoin.
Who’s this millionaire investor you ask? Well, it’s Mark Mobius, a man who once believed Bitcoin is a fraud. No, according to an interview with Bloomberg, Mobius appeared to change his mind. He noted, “there’s definitely a desire among people around the world to be able to transfer money easily and confidentially. That is really the backing to Bitcoin and other currencies of that type. So I believe it’s going to be alive and well.”
This is a significant contrast to his words last year “I think Bitcoin is a real fraud I really do. The first thing I do is ask people can you explain it to me? Who is running it? Who is controlling it? And nobody can.”
He even mentioned that the cryptocurrency market made the Tulip bubble look bad. As you guys can see, Mobius has really changed his mind. I mean, he even responded in the Bloomberg interview that there’s a role for digital assets in money transfer. Are traditional investors finally coming around? I think so, with Jamie Dimon regretting calling Bitcoin a fraud and now Mobius saying that the industry is alive and well, will Buffet and Roubini be next? We’ll just have to wait and see.
And finally, to end things, 10,500 Bitcoin short position closed on Bitfinex with shorts dropping by nearly 40%.
The removal of this short position from the market is really dramatic. If you look at this graph here, it’s definitely a steep decline. Many people were confused wondering why the change didn’t push Bitcoin to the upside, especially since 10,500 Bitcoin (which totals to $85 million) had not even dented Bitcoin’s Price. Bitfinex mentioned that perhaps, the reason the closed position had no effect on the market is because of the way the position was claimed stating that “claiming a position is essentially converting from a margin trade into an exchange trade; closing the position by buying it yourself and settling your funding costs to the lender. Because of this, there is no trading activity on the order book.”
So that’s a wrap, guys. Lots of news over the last few days. What is everybody thinking? How do you see Opera’s support for TRON and TRC20 tokens? Coinbase popularity app surging on the app store? And will traditional investors finally come around? And despite everyone going long on Bitcoin, what do you think about that short position?
Let me know your deepest thoughts! It’s Cindy with CryptoPig, Catch you guys around!
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.