Tron Surges 16% after Announcing the Mysterious Partnership with an Industry Giant

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In the past few days, Tron has made a lot of developments in terms of Odyssey, TVM, and the promise of more achievement. However, now Tron has taken a hike of about 16 percent from yesterday’s $0.0206 to today’s highest at $0.0239 after Its founder and CEO Justin Sun announced the partnership with an industry giant.

Could the industry giant be Baidu?

As we reported yesterday, Tron is enjoying gains on the anticipation of the upcoming partnership with tens of billions of dollars valuation company. At 11th spot, Tron has a market cap of $1.54 billion while managing the daily trading volume of $175 million. At the time of writing, Tron has been trading at $0.0234 while surging over 6 percent.

If we take a look at the past 5 days, from $0.0281, it went down to $0.0206 in tandem with the entire market. However, the announcement of the partnership resulted in a hike of about 16 percent from $0.0206 yesterday to today’s highest at $0.0239.

TRX 5-days chart, Source: TradingView

According to the English version of the Chinese media channel, Tron’s partner is Baidu stating,

“#Tron to Cooperate with China’s IT Giant #Baidu. The Tron team told CoinNess.com  that a partnership had been confirmed between Tron and China’s IT giant Baidu, which will be officially revealed by Baidu Cloud next week.”

The Chinese multinational technology company, Baidu offers Internet-related services. It is the 2nd largest search engine in the world while holding over 76 percent market share of China’s search engine market. Baidu’s market cap has been about $99 billion as of May 2018. If Baidu is the partner, it will be a good thing for the progress of Tron and its investors.

However, apart from this partnership, Tron has been onto a number of things as it upgraded to Odyssey 3.1 that according to its founder and CEO Justin Sun will make Tron (TRX) 200x faster than Ethereum (ETH) and 100x cheaper than EOS.

Moreover, Tron released Tron Virtual Machine (TVM) and a developer suite to use on the Tron blockchain. It recently hit 3 million block height while Justin Sun has shared in the next six months Tron will be among the top ten cryptocurrencies.

The post Tron Surges 16% after Announcing the Mysterious Partnership with an Industry Giant appeared first on BitcoinLinux.

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