- Poloniex partnership with TRON (TRX)Poloniex deletes promotional tweet telling followers to Buy TRON
Previously, it was reported that Poloniex, e cryptocurrency exchange platform now has control over the largest decentralized exchange (DEX) on blockchain network Tron (TRX). This development was confirmed by Tron’s CEO Justin Sun, stating that Poloniex will now run the TRX market under the name Poloni DEX. This development came a month after Poloniex left the owner circle to form a new exchange that addressed regulatory issues in the United States.
In an official press release by Poloniex, it stated that “To maintain the development of TRXMarket over the long term, the team has accepted an acquisition offer from Poloniex and will rebrand with the new name Poloni DEX, becoming a decentralized exchange under Poloniex. The official website has now changed to poloniex.org.” TRX Market functions as a non-custodial exchange that does not require users to store funds in a centralized wallet.
Recently, the attention of users of Twitter was drawn to a deleted tweet by a Twitter bot, where the cryptocurrency exchange Poloniex toll all its followers to buy TRON (TRX). Shockingly, the tweet was deleted 28 minutes after being up.
Poloniex deletes promotional tweet telling followers to Buy TRON
The acquisition in the previous month by Justin Sun can be said to be slowly but surely the takeover of Poloniex has seen the platform promoting Tron (TRX) on its Twitter page. In what seems like a promotional move from the exchange platform, a tweet from the page read, “Let’s buy #TRON.” The promotional and endorsement tweet was quickly deleted some minutes after posting.
TRON (TRX) Price Today – TRX / USD
Luckily before the tweet was deleted, @CryptoDeleted already screenshotted the tweet. There are so many speculations going around as to what could have prompted the tweet and why was it deleted. Many users are deducing the tweet as Poloniex hitting rock bottom. The exchange platform went from being acquired by Goldman Sachs-backed Circle in 2018 to shilling one of the most scandalous cryptocurrencies in the whole industry. Some prominent analysts have stated that it is a fall from grace from Poloniex’s previous height in 2017.
There have been speculations, which have to some extent been confirmed by TRON founder Justin Sun planning to acquire Polonies. During a live stream Q&A session held by Poloniex with Justin Sun last month. A partnership between TRON and Poloniex was announced, with prospects of some additional changes in the future. So far, both parties have been mute on this deal. According to Poloniex, it expects to rebrand to Polo Digital Assets in 2020.
Multiple Countries Can Now Buy Tron Using Bank Cards, Signifies Justin Sun On Twitter
- Justin Sun gave a new update on the Tron community stating new multiple countries can now buy Tron using bank cards.
- Tron is a decentralized network aiming to provide content and entertainment through its Blockchain support on a global level.
- The decentralized Blockchain network provides massive scalability and is adapted in multiple businesses to their lucrative businesses for efficient functioning.
Justin Sun gave a new update on the Tron community stating new multiple countries can now buy Tron using bank cards. Indonesia, Russia, Japan, Turkey, Germany, UK, France, South Korea, Argentina, and some more countries were given modest options to buy Tron.
They are suing their individual bank cards using the currencies USD, EUR, Russian RUBLE and INR (Indian Rupee) on the specialized platform Latoken, which is a crypto exchange focused on liquidity based tokens. The post on twitter saw positive reviews, while some repliers wanted other countries added on the list as well.
Multiple points of access are a greater advantage for Tron, which can push it much further in its market value. Tron is a decentralized network aiming to provide content and entertainment through its Blockchain support on a global level.
It stands with one of the highest transaction rates on its Blockchain network in the market. The decentralized Blockchain network provides massive scalability and is adapted in multiple businesses to their lucrative businesses for efficient functioning.
Tron has grown sincerely due to its value obtained and global adoption in the market, Tron is favorite among many new market investors due to its liquid nature. It has a current market value of $0.021 and is eager to rise on the market as the bulls are now favoring over Tron to rally.
However, the average is still in the hands of a bear where they rule at -0.98%, although the monthly charts show Bullish momentum. The Return on Investment (ROI) of Tron stands at 965.23% with a market ranking of #15 according to the metrics from CoinMarketCap.
It has gained 3.83% from yesterday’s trade, adding $0.000833 to the previous value at trade. Tron has market capitalization of $1,457,036,881 USD with 24 hour trading volume at $1,779,934,676 USD with a circulating supply of 66,682,072,191 TRX.
TRON Price Analysis: TRX/USD rejected a key trendline
- TRON is trading 2% higher on Tuesday on a good day for the crypto market.
- The price rejected off a key trendline area and now has pushed higher.
TRX/USD 4-Hour Chart
TRON has pulled back in recent session and now we will find out if it was just a retracement or something more serious.
The price had been on a great run of late and reached a peak of 0.02680.
Now the price has pulled back it rejected a trendline on the 4-Hour chart.
More importantly, the 0.0200 psychological level remains intact.
If the bulls are to regain control of this market then a break of 0.02377 would be a great sign.
Tron News Today – Headlines for February 16
- Tron acquires Steemit
- Tron Investors aren’t enthused by the development
- The network hopes the move will add more value to its offering
Tron News Today – Tron, the Justin Sun-led Blockchain network has recently been on a spending spree. The network has been acquiring several major Blockchain-based firms and announcing some notable partnerships. This is part of Tron’s effort to craft more utility around its Blockchain and provide value for its native coin the TRX token. The most recent addition to the TRON network is Steemit. Steemit is a content sharing platform that offers rewards to its users and influencers when they offer quality content that’s well-received by the members of the forum.
Tron has described the acquisition as highly strategic because it allows the entity to expand it’s list of DApps further because of the sheer number of apps that have been created on Steemits’ blockchain.
Tron Price Responds after the Recent Acquisition
Tron’s latest milestone was announced on Twitter. It was the content sharing platform’s founder, Ned Scott, that noted that after nearly four years of working on his project, the decision to sell to Justin Sun’s Tron came up. The exact details of the terms of Tron’s new acquisition remain unclear but it appears that Tron is still looking to advance the retail adoption of its Blockchain network and native crypto through the new arrangement, with Steemit. The Blockchain firm wants to take advantage of the ongoing growth of Steemit as a fresh catalyst for TRON.
Via another post, Sun discussed Tron’s latest company acquisition. He noted that both entities working together will usher in an era of decentralized social networking. All will be to the benefit of Tron and Steemit. In Sun’s words:
“We are very happy to welcome Steemit to the Tron network. Together we will launch an era of decentralized social networking.”
Investors Aren’t Enthused About the Acquisition
Seemits’ Blockchain STEEM token is currently trading on the red. The coin is down by 12%. Its current price is just under $0.25. It is important to note that this decline comes in tandem with the news about Tron’s foray into Steem’s ecosystem. It is also important to indicate that the decline in the tokens price comes as the entire digital currency market faces less turbulence. However, the move suggests that investors do not believe the partnership will offer much value to Steemit Blockchain.
As the Tron network further unveils its plans with regards to how it’s the latest move will ensure that its Blockchain adds value, chances are that investors will be able to gain better insight regarding whether the partnership with Steemit will be a positive one in the long run.