As stated in a live streaming session held on Periscope by TRON, CEO Justin Sun has confirmed the beginning of the partnership with Poloniex. As a matter of fact, Justin Sun has invested in the exchange, which will allow accelerating the growth of both projects:
— Poloniex Exchange (@Poloniex) November 12, 2019
Poloniex is one of the oldest exchanges in existence: its foundation dates back to 2014, although in recent years, thanks to the emergence of competitors in the market, such as Binance, it has lost users. Moreover, last year Poloniex was acquired by Circle for about $400 million and a couple of months ago it announced plans to create a new company.
Thanks to the opening of the Chinese market, the exchange intends to expand in that territory through the website pwang.com which will be compliant with the rules of the Chinese market.
Furthermore, thanks to the partnership with TRON, Poloniex will become a privileged channel for TRON-based tokens, i.e. those that follow the TRX10 and TRX20 standards, including the BitTorrent (BTT) token.
Justin Sun invests in Poloniex
Also yesterday, before the live broadcast on Periscope, Justin Sun explained that he had not bought anything, but only to have invested and helped friends by betting on the exchanges that support the tokens TRX and BTT.
— Justin Sun (@justinsuntron) November 13, 2019
Obviously, as a result of the news, the price of the TRX asset, which is currently at position 11th of CoinMarketCap, has increased by 4% and is now traded at $0.02, perhaps thanks to the new incentive plan announced yesterday.
According to this plan, Tron’s (SR) Super Representatives will have a total of 50 million TRX by November 30th, 2019, proportional to the percentage of blocks generated.