NEWSBTC: TRON Making Waves Again with Purchase of BitTorrent
It’s Invest Diva's Kiana Danial https://www.investdiva.com/ with News BTC and here is your cryptocurrency update. The cryptocurrency market finally saw a bit of a green on Monday, with TRON’s TRX leading the top 10 major altcoins. The major announcement for TRON this time around is about TRON’s CEO, Justin Sun, buying BitTorrent for $140 million in cash. The two companies have reportedly been negotiating for a long time about a price. So it could be unlikely that any dispute of agreement terms will actually kill the acquisition. Especially since BitTorrent has been looking for a buyer for a long time. BitTorrent Inc. is a San Francisco-based Internet technology company that designs distributed technologies around decentralized computing architecture. According to their website, they have around 170 million users. Their products include their free downloading software, as well as BitTorrent Now, which is focused on video, music and other creative content. BitTorrent claims that its protocols move as much as 40 percent of the world’s Internet traffic on a typical day. TRON, on the other hand, has been busy making partnerships in the US while also getting itself in the middle of some scandals. We most recently reported on TRON’s partnership with Shift Markets, something that exposed them to the forex market. With these, some analysts believe the sky is the limit for the company. Looking at TRX price action versus the US dollar, it appears to have bottomed out at the $0.04 support level on the bullish market sentiment. However, the price continues to move below the daily Ichimoku cloud with an even stronger support waiting at around $0.02. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.
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