The TRON price is in the news lately for surging more than 17% this Tuesday. According to reports, the founder of the cryptocurrency Justin Sun is now in the final stages of closing a deal that will make the protocol developer BitTorrent part of the flagship cryptocurrency.
The rumors have been circulating for weeks, and today we had the official confirmation for this. According to TechCrunch, Sun and TRON have agreed to acquire BitTorrent for $140 million and the approval documents have already been distributed to shareholders.
Still, there is no public confirmation on how Sun and TRON plan to use BitTorrent, which currently claims to have more than 170 million users. However, the logical thought is that the network will leverage peer-to-peer file distribution architecture in an attempt to build its “Web 4.0” platform.
Meanwhile, the TRON price has rallied more than 17% despite the fact that the negotiations had more or less become public knowledge. Currently, TRON is valued at $0.05 up from $0.042 yesterday. The cryptocurrency has a market cap of $3.3 billion which enables it to secure the 10th spot in the market cap rankings.
TRON is also in the process of migrating its TRX token to an independent blockchain. The migration began last month with the release of the TRON mainnet beta software and is expected to be completed by the end of June.
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