SAN FRANCISCO, CA / ACCESSWIRE / July 20, 2020 / A hedge fund in the British Virgin Islands has increased its TRX holdings by $20 million USD, bringing its total balance to over 1 million TRX. The major investment shows the growing demand for crypto assets from institutional firms.
The BVI-based hedge fund, which has a positive outlook on the TRON ecosystem, plans to increase its holdings of TRX further and to build a friendly and close-knit relationship with TRON. The firm has previously made investments and acquisitions in multiple blockchain projects and holds a range of crypto assets in its portfolio.
TRON has reported an uptick in interest from institutional investors seeking exposure to DeFi by acquiring the native tokens of smart contract networks and the dApp ecosystem they support. The $20 million investment by the BVI hedge fund follows significant efforts by TRON to improve its compliance level and to enhance relationships with institutional investors.
TRON has declared its intention to attract more institutional players, broadening interest in cryptocurrency as an investment vehicle, while bringing the benefits of decentralized technologies to a global audience. Through making it easier for funds to acquire TRX, while maintaining their reporting and compliance obligations, TRON hopes to facilitate an in-flow of funds into the cryptoconomy, fueling the development of innovative products and services built on blockchain technology.
TRON is dedicated to building the infrastructure for a truly decentralized Internet. The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers high-scalability, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRON ecosystem. The protocol also uses an innovative, pluggable smart contract platform to improve compatibility with Ethereum smart contracts.
In 2018, TRON acquired BitTorrent Inc., an internet technology company based in San Francisco. The distributed technology designed by BitTorrent Inc. is smart, highly scalable, and keeps creators and consumers in control of their content and data. More than 170 million people use BitTorrent products every month. BitTorrent’s protocol drives 40% of the world’s internet traffic every day.
Company Contact: Ryan Dennis
View source version on accesswire.com: