TRON (TRX) Dogs Update and Why The Cryptocurrency Has Tanked

TRON (TRX) Dogs Update

As reported last week, TRON (TRX) will be launching its own version of crypto kitties, with dogs, as it closed a deal with Game. com on January 3rd. Tron’s creator and founder, Justin Sun, was premature about the release of the game and tweeted on his personal twitter, which has 266K followers, on the first of the year, “TRX dogs is almost ready.”

As the announcements began spreading around the cryptocurrency community, the coin began moving on the 3rd and jumped over 261% in just 48 hrs time.On January 5th, it reached a record high of $0.26 a coin, and became the sixth largest cryptocurrency by market cap, passing Litecoin (LTC), Bitcoin Cash (BCH), NEM (XEM), and Dash (DASH).

At the same time of the coin’s record high, the famous founder held a live stream on his twitter, which left a lot of new TRX investors at odds. Many took to Twitter and cryptocurrency facebook groups, explaining their concerns about the informal way he normally goes about updating his investors about upcoming updates. Sun filmed the 55-minute live stream, in what seems like a conference room within a hotel room, with his cellular phone. Many Tron enthusiasts, responded to the critical responses, stating that this is how he usually conducts his upgrades.

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Tron Dogs

In the live stream, Sun mentions new details about the new Tron dogs, confirming the reason for choosing dogs was due to the Chinese year of the dog, being 2018. Currently, the game is live in China and people have already begun buying up pups. Currently, the pups are selling for 200 TRX but they will continue to increase in price, the more widespread adoption the game receives. Many around the world have not waited for the U.S version and have begun navigating the Chinese site using google translate, in order to get in on the frenzy.

Currently, the only way to purchase a pup is to buy it from a user’s pet store. The incentive to own a pet store is that the user pays a smaller amount, for a pack of 26 Tron dogs and gets paid for each dog sold in their store. A personal exchange is currently being worked on by its development team and hopefully will be up and running when the English version launches. From the looks of it, since most of the site doesn’t fully translate to English, the dogs “rare” characteristics are dependant upon the outfit they wear. In my opinion, the outfits make them much cuter than the crypto kitties, as some are dressed up like superheroes and Disney princesses. This, I believe will launch this game far past ethereum’s crypto kitties, as there are more varieties and connection with the different characteristics of the digital animals.

What’s With The Drop?

Since the influx of traffic, from the emerging altcoins, many big exchanges have suffered from user overload. Around the time of the TRX drop, many reported trading and buying issues across Binance, Bitfinex and Bittrex. Coinbase, was also having issues and reporting at the end of last week that it was processing a large number of wire transfers from back on December and going forward BTC transactions would take up to 72 hours and ETH up to 5. In order to purchase TRON (TRX) you must trade it for either BTC or ETH, thus creating a large issue for new investors wanting to get in on the altcoin. Some new investors also might have sold, due to the twitter live stream.

However it seems, that all coins today are suffering today from various exchange outages. Once the exchange outages clear, TRON should begin to rebound. Currently, the altcoin is selling at $0.158 a coin, up 2.44% in 24 hours and is sitting at the #10 spot, with its market cap at $10.39 billion.

For the latest update on Tron Dogs, click here.

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