Tron (TRX) is up by about 2% in intra-day trade. While it’s not a massive gain, it goes to show that there is buying momentum in Tron (TRX) considering that the market is still sluggish, and bitcoin (BTC) is up by just under a percentage. Tron’s increasing positive momentum follows Justin Sun’s announcement that they could be partnering with an industry giant that is worth tens of billions of dollars. While he is yet to name the company that they are partnering with, it seems like a big deal, one that the Tron (TRX) team has been chasing for some time, if Justin’s choice of words is anything to go by. He uses the word FINALLY, a word that indicates relieve after so much effort. Take a look at Justin Sun’s tweet below.
The question on everyone’s mind at this point is, which company could this be? Speculation is rife that the company in question could be Alibaba. That’s because Tron (TRX) has been chasing a partnership with Alibaba for some time now. However, taking a literal interpretation to what Justin said, it is most likely not Alibaba. That’s because Justin speaks of a company that is worth 10s of billions. Alibaba is worth at least $300 billion at current prices. As such, if it was a partnership with Alibaba, he would most likely have tweeted about a 100 billion global conglomerate.
The most likely possibility is that it is a Chinese company, probably a social media company, or a company in the gaming industry. Both of these industries are a big deal in China and have produced companies that are worth upwards of $10 billion.
Whatever company Tron is partnering with, one thing is clear. Things will be looking up for Tron (TRX) once the partnership comes through. If it happens to be a well-known company in the $10 billion range, then Tron (TRX) will moon in the short-term. Things could get even more interesting if Justin didn’t mean a $10 billion dollar company, but something even bigger like Alibaba.
If by any chance the company in question is Alibaba, Tron (TRX) could easily be the biggest gainer this quarter. It could quite literally blow past its 2017 highs. That’s because this is the one deal that the Tron community has been waiting for all year long. It’s the one partnership that when mentioned, tends to overshadow every other partnership that Tron has made so far.
The reason why Alibaba is such a big deal is that it would bring Tron to the world stage. Alibaba is a global tech company whose news gets Wall Street talking. As such, the credibility that it would give Tron (TRX) would be simply unprecedented. It would draw in institutional money into Tron (TRX), and trigger a major bull run.
But even as expectations rise, it is best to wait and see who this partner is, since Justin has not yet made public the date of this announcement. One thing is clear though, it is a good time to be invested in Tron (TRX). If it gains momentum at this point, it could test the $0.025 resistance in weekend trading.