Owing to the overall bearish market conditions, TRON (TRX) along with various other crypto-coins continues to experience frequent price falls. However, it is believed that the BitTorrent merger could still serve as the reason behind TRX jumping up into the list of Top 5 Cryptocurrencies.
The beginning of the year brought along, a report that mentioned Justin Sun (the founder of the TRX token) had come up with a proposal to acquire BitTorrent Inc. Later in May, it was informed that the acquisition was final and was about to take place. However, a few negotiations and official formalities were to take place yet. It was just the past week, when both BitTorrent Inc. and the TRON Foundation announced that the official merge has taken place.
Stating in the words of BitTorrent Inc.,
“We are excited to announce that TRON has officially closed its acquisition of BitTorrent.”
This incident has the potentiality to serve as a huge push to the popularity and acceptance of the TRX token at global levels and help it emerge as one of the top 5 cryptocurrencies. Justin Sun, expects to integrate 170+ million BitTorrent’s users with the existing users of TRON’s MainNet and aid the current price levels of the token through facilitating peer to peer transactions.
Furthermore, according to the announcement made, the merger intends to reward, the loyal customers or rather the frequent torrent downloaders financially. This, according to Sun, would lead to ‘increased download speeds’ and ‘greater content retention’. They are looking forward to make payments to the ‘regular seeders’, by means of TRX tokens. Also, they are planning on launching a ‘voucher program’ which would attract more and more users and furnish them with a much better experience.
Citing Justin Sun,“Currently, we are exploring the possibility of using the TRON protocol to improve the BitTorrent protocol, in order to make BitTorrent protocol faster and lengthen the lifespan of BitTorrent swarms. I hope the integration of TRON and BitTorrent will allow both parties to work better as one in the future.”
To conclude, the founder of the TRX token, has found a way out to stabilize the token price and increase its acceptance in the global market. As for the stability of the price, it cannot be assuredly declared. No matter what, there is going to be a positive effect to some extent for sure.