Tron Chief Acquires BitTorrent, TRX Rate Rises
June 20, 2018
According to TechCrunch, the chief of the blockchain startup Tron Justin Sun has acquired the BitTorrent company that develops the namesake p2p-protocol. The sum of transaction makes $140 million. The issue has produced a positive impact on the startup’s native cryptocurrency. TRX.
Justin Sun was first rumored to acquire BitTorrent in May, now the deal is reported to be settled last week. It is still unknown how acquisition of a peer-t-peer protocol operator will affect Tron which develops decentralized internet. Note that Justin Sun hasn’t given any comment on the deal although he often shared his views on the events of crypto world.
The information has caused TRX rate growing. The token has risen by over 10% while the growth of other popular cryptocurrencies is not more than 4%. Currently TRX is rated 10th by market cap which exceeded $3 billion.