TRON's founder Justin Sun confirmed the participation in Poloniex purchase
- TRON's founder invested in cryptocurrency exchange Poloniex.
- TRX/USD has recovered to the area above $0.0200.
Just Sun, the creator of TRON and the founder of TRON Foundation, confirmed that he was among the investors that bought cryptocurrency exchange Poloniex from bitcoin-startup Circle. He also shared his views on collaboration with the exchange.
Circle purchased Poloniex for $400 million in February 2018 with the aim to develop the cryptocurrency trading business/ However, the market share of the exchange dropped from 60% in 2017 to 1%. In October it was announced that the startup would dispose of the exchange business, while Poloniex would be operated by Polo Digital Assets supported by a large group of investors.
Initially Justin Sun denied the rumors that he was one of the said investors; however, recently he confirmed the participation in Poloniex purchase and announced a series of joint initiatives including TRX listing on the platform and several airdrops.
TRX/USD breaks above $2.0
TRX/USD jumped to $0.0201 following the announcement. At the time of writing, the coin is changing hands at $0.0199, down from the recent peak. Despite the retreat, it is still 3% higher from this time on Tuesday. A sustainable move above $0.0200 will allow the upside momentum to gain traction.
TRX/USD, 1-day chart
Author
Tanya Abrosimova
Independent Analyst
