Tron and BitTorrent CEO Justin Sun is teasing a new partnership as the price of Tron (TRX) rises by double digits along with the rest of the crypto markets.
Sun gives no details on the upcoming collaboration other than noting that the partnership, to be announced next week, will be with a “megacorporation” worth $100 billion and that the new alliance will benefit the entire Tron ecosystem.
Sun, who is known for his pre-announcement announcements, is also touting his connections to the Chinese government in light of the new blockchain-focused directive announced by President Xi Jinping on Thursday. China will now support blockchain-based platforms to transform a number of industries from finance to food safety, education to anti-counterfeiting.
Says Sun,
“As the leading global blockchain protocol originally developed by the Chinese, TRON is thrilled that President Xi endorsed us to seize the opportunity of blockchain. TRON & BitTorrent will continue partnering with conglomerate giants in China.”
Sun’s decentralized platform Tron has grabbed a big slice of the Tether (USDT) market since October 21 when a series of Tether chain swaps began, transferring USDT from the Ethereum network to Tron.
Tether (USDT) is the most popular cryptocurrency by trading volume. With 630 million USDT circulating on Tron, 15% of the total 4.2 billion USDT supply is now based on Tron’s blockchain.
By supporting USDT, the most widely traded cryptocurrency on the market, Tron continues to extend its brand and rivalry with smart-contract platform Ethereum.
Says security expert, DApp Evolution advisor and Tron community leader Misha Lederman,
“Another chain-swap from Ethereum’s USDT-ERC20 to Tron Foundation’s USDT-TRON, this time $30 million.
The exodus has commenced & will only accelerate from today as USDT-TRON is far superior compared to the Bitcoin & Ethereum versions in terms of speed, scalability & usability.”