Wednesday, October 27, 2021
HomeNewsTRON (TRX) Price Surges Significantly Following BitTorrent Acquisition

TRON (TRX) Price Surges Significantly Following BitTorrent Acquisition

 

Tron (TRX) founder Justin Sun acquired BitTorrent Inc last week. At the time of acquisition, Tron (TRX) prices were in deep red. Tron (TRX) price was at $0.0466 with 12.62 percent loss. Tron has a market cap of $3 billion, and the trading volume is around $65 billion.

It was discussed whether the acquisition is going to change the future of Tron or not. Tron (TRX) failed to witness a hike in price after the MainNet launch as expected. The prices, shockingly, went south. As the token migration date approaches, Tron prices have shown signs of positivity. Tron, today, underwent a significant rebound as prices grew to 14.66% over the past 24 hours, according to the CoinMarketCap stats.

Neither Sun nor Tron has publicly revealed how they intend to use BitTorrent, which claims to have approximately 170 million users, but it’s likely that the network will leverage the peer-to-peer file distribution architecture as it seeks to build its “Web 4.0” platform and shake off the perception that the project is predicated on plagiarism.

Tron is one of the new kids on the block in the wide world of blockchain startups. Founded by Sun, who previously had worked for Ripple (a settlement system built on blockchain tech), Tron says its mission is to build “a truly decentralized Internet and its infrastructure.” That has included (no surprises here) the creation of its own cryptocurrency, the TRX.

TRX, loosely, appears to be a cryptocoin for the entertainment industry. Tron has plans to use TRX as a way to pay for content on its network, according to this whitepaper.

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