The negative trend that has taken place since yesterday seems to continue and many old coins continue to bleed. Noteworthy is the further increase in the price of Ethereum contrary to the current market development, despite problems in the Ethereum network. Nevertheless, Justine Sun (CEO of TRON) announces another partnership, strengthening the TRON network.

The negative headlines of the past days seem to burden the entire crypto market and lead to a further correction. As we already reported yesterday that are Bitcoin Miner from China now forced by the authorities to reduce their electricity costs dramatically. Tighter control is now on the agenda and will be enforced without consideration, according to Chinese media. Even the more stringent regulatory measures in South Korea seem to weigh heavily on the market at the moment.

In addition, coinmarketcap.com decides to remove Korean stock exchanges from its current price calculation and market capitalization. Unfortunately, from our point of view, this has been insufficiently communicated to the public, which may have led to unrest and panic selling in the crypto currency market.

As this chart shows, on 08.01.02018 early at 6am German time there was the corrector within the Coinmarketcap.com data. With a reasonably designed communication on their website it would very likely have been possible to avoid one or the other panic sale.

Despite the red numbers, the crypto currency Ethereum is currently moving . Although the Ethereum Network is currently struggling with gas costs , the price continues to rise. This process is probably due to the ever-increasing adaptation in everyday life and in industry. Bitcoin Cash and NEO are also relatively stable .

It has particularly hit the currencies Cardano (20% price drop), Stellar Lumens (also 20% price drop), TRON (30% price drop) and Verge (30% drop in price), which were among the big winners in the weeks before. Nevertheless, the prices of many crypto currencies are still at a very high level if we compare the market prices with those of 2 months ago or the beginning of last year.

TRON announces new partnership

The TRON Community has news almost every day, including today:

We #TRON are proud to announce the partnership with Baofeng group. Baofeng, aka Chinese @netflix, boasts more than 200 million users as a video portal giant and has achieved 8 billion CNY listing in Shenzhen stock exchange (300431.SZ). https://t.co/f9MJZcmSDD #TRX $trx pic.twitter.com/jZJF32mmvi

— Justin Sun (@justinsuntron) January 10, 2018

TRON was able to win over the Baofeng Group as a partner and convince them of the potential of the TRON network. In an interview, Justin Sun says:

Baofeng Group is one of the best internet companies and a prominent public company in China. This cooperation reflects Baofeng’s clear understanding of the Internet’s future and its high recognition of TRON project and team.

The Baofeng Group is one of the largest and most well-known Internet companies in China and has a customer base of over 200 million users. However, current sensational news, such as the “Netflix of China”, is too hyped up , according to some sources , and needs to be viewed relatively.

Currently, the positive headline has no impact on the Tron price , as the entire market is bearish. Nevertheless, after the end of the ongoing correction, the price could rise again neatly. Whether this actually happens, the next days will show.

The post Altcoins continue to bleed | Tron announces new partnership appeared first on Digital Bodha.