Steemit is taken over by TRON – investors are not enthusiastic
Justin Sun's blockchain company TRON has gone on a shopping tour, acquired large blockchain companies, and announced a variety of notable partnerships to improve the value of their own blockchain and then increase the value of the TRX token.
The latest addition to the TRON ecosystem is Steemit, a content sharing platform that rewards users and influencers for offering quality content. The acquisition is of great strategic importance to TRON as it enables the company to further expand the list of DApps that Steem has under its roof.
The TRON ecosystem with the recent acquisition
Yesterday, the takeover of Steemit by TRON on Twitter was announced by the founder of the social media company, Ned Scott, who noted that after four years of working on the project, he had decided to sell it to Justin Sun. .
“Steemitans and Twitterers, after four wonderful years I sold Steemit to @justinsuntron.”
The details of the terms of the acquisition are still unclear, but it appears that TRON intends to further advance the partnership's introduction of blockchain and cryptocurrency as Steemit's continued growth now acts as another catalyst for TRON. In a medium post, Justin Sun discussed the recent acquisition of his company and noted that he hopes to work together to usher in a “new era of decentralized social networking.”
“We are very happy to welcome Steemit to the TRON ecosystem… Together we will usher in a new era of decentralized social networking”.
STEEM investors are not enthusiastic about the takeover
The STEEM token – the native cryptocurrency of the Steem blockchain – is currently around 0, 25 dollar traded, with this decline parallel to news of TRON's push into the Steem ecosystem.
It is important to note that the token's drop in price is associated with the turmoil in the aggregate market, but it seems to indicate that investors do not believe that the partnership with TRON resulting from the acquisition will result in the Blockchain will give a lot of value.
Proof of text: cryptoslate