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Tron with a Positive Outlook After Confirming Acquisition of BitTorrent

· 26 Jul 2018 in Cryptocurrency News, Home
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Tron seems to have a very positive outlook for the future after acquiring BitTorrent. The company is now stating that it has became the largest decentralized internet ecosystem in the world. But how can this influence the future price action of the famous virtual currency and network?

Tron Looking Healthy for the Future

On July the 23rd, Tron confirmed the acquisition of the BitTorrent platform. After it, Justin Sun explained that the main intention is to build the future of the decentralized internet. Currently, BitTorrent has an active user base of 150 million individuals. 

BitTorrent is also known for operating uTorrent, where users can upload content and share it with others.

This situation seems to be helping Tron grow in the market. This is something strange, because in the stock market, if a company acquires another one, the price of the acquired company goes up and the price of the company that purchased the other drops.

Tron (TRX), instead, has registered an important growth in the last days. The price moved from $0.329 to $0.388, a 17% increase in just some hours on July the 24th. At the moment, the price has stabilized around $0.367 but it can gather more investors and test the $0.04 in the near future if the market keeps as optimistic as now.

At the moment of writing this article, Tron is the 11th most important virtual currency in the market, just right after the stable coin Tether (USDT). Tron has a market capitalization of $2.42 billion dollars and may soon enter the top 10.

BitTorrent is the world’s first decentralized internet protocol and has different global application.

Tron’s white paper reads as follows:

“TRON is a world-leading blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data.”

Tron will be working with BitTorrent’s team to share technical talent and experience. At the same time, the will be learning about decentralized technology and how to strengthen the Tron ecosystem.

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