TRON Making Waves Again With Purchase Of BitTorrent

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.

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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.

about BitTorrent

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.

about TRON

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.

The Cryptocurrency currently ranks 10 on the market cap list.

TRX/USD Technical Analysis

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.

The TRX traders have been waiting for a break above the $0.05 pivot level to conclude on an uptrend. Join our investing group to get the latest trading signals, stop-loss, take-profit and other limit order ideas on cryptocurrencies, forex and stocks. Our comprehensive signals will help you create a unique strategy for you, according to your risk tolerance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Kiana Danial

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert. She is a highly sought-after professional speaker, author and executive coach who delivers inspirational workshops and seminars to corporations, universities and entrepreneurial groups. She is a frequent expert on many TV and radio stations and has reported on the financial markets directly from the floor of NYSE and Nasdaq. She is a weekly investment expert guest on Tokyo’s #1 Investment TV Show. She has been featured in The Wall Street Journal, TIME Magazine, CNN, Forbes, The Street, and numerous other publications. Kiana’s book "Invest Diva's Guide to Making Money in Forex" was picked by McGraw-Hill only two years after she first moved to the US, and was an immediate domestic and international success. At a young age, she has won numerous awards including Best Financial Education Provider at Shanghai Forex Expo in 2014, New York Business Women of Influence Honoree in 2015, and Pro Bono Humanitarian Award by IA Bar Association in 2013. Born and raised in Iran to a Jewish family as a religious minority, she was awarded a scholarship from the Japanese government to study Electrical Engineering in Japan, where she obtained two degrees in Electrical Engineering and researched on Quantum Physics in classes conducted in the Japanese language. Being the only girl and foreigner in her classes made her decide to dedicate her life to empowering minorities, especially women in male dominated industries. As the CEO of Invest Diva, Kiana’s goal is to empower and educate women to grow their wealth by investing like a ROCK STAR.

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