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Social Media Giant LINE Adds Tron (TRX) To Its BitBox Exchange

As reported by Ethereum World News previously, social media giant LINE announced the creation of an in-house crypto-to-crypto exchange going by the name of BitBox. In LINE’s original announcement, the firm stated that it would offer the trading of thirty cryptocurrencies at a 0.1% fee, with the press release only mentioning the largest cryptocurrencies offered. Additionally, it was noted that BitBox’s crypto-to-crypto service would be open globally, offering exchange options to consumers in all countries but Japan and the U.S.

Since our original report, BitBox has officially launched and is now home to tens of thousands, if not hundreds of thousands of individuals looking to trade cryptocurrencies through an easy-to-use mobile platform.

But with today’s announcement, LINE has now launched support for Tron (TRX) and an unexpected $10 million token venture fund. Tron, which was recently confirmed by BitBox’s listing committee, will now be available for trading on BitBox via multiple new trading pairs, such as TRX/BTC and TRX/ETH.

To celebrate the listing of TRX, the Asian social media giant has partnered with Tron to airdrop nine million TRX tokens to all BitBox users “in a promotional event running until August 22nd.”

Youngsu Ko, the CEO of LINE Tech Plus, a Singapore-based subsidiary that runs BitBox, issued a statement on the reasoning behind this move, seeming to show an affection towards the project, writing:

“Integrating TRON (TRX) with BITBOX will enable us to connect with the world’s fastest-growing blockchain project. TRON has a solid tech platform, especially now it has joined forces with BitTorrent.”

In an additional comment, Line noted that the addition of Tron (TRX) is one of its first steps in ensuring that its customers have access to a diverse set of “coin options,” aided by an easy-to-use, efficient, and secure user-centered service. 

Closing off this segment of the press release, Tron CEO Justin Sun expressed his excitement via an impassioned statement regarding the addition, noting that the collaboration between the two firms will prove to be successful.

Line Launches “Token Venture Fund”

As aforementioned, the addition of TRX wasn’t the only announcement mentioned. LINE has also launched Unblock Ventures, which is a new subsidiary aimed at becoming a “corporate token venture fund.” The Hong Kong-based Unblock fund will be launched with a capital allocation of $10 millionUSD, and will focus on investing in token investment vehicles for the time being.

However, $10 million won’t be the be all and end all of Unblock, as LINE plans to expand the fund along with the growth of the blockchain industry. If all goes according to plan, Unblock Ventures should help to boost the development and adoption of cryptocurrencies and blockchain technology throughout the world.  The firm elaborated, writing:

“By launching this new corporate token fund, LINE is aiming to boost the development and adoption of cryptocurrencies and blockchain technology. As such, LINE is one of the first publicly traded corporations to formalize token investments through a corporate fund.”

Photo by Chris Liverani on Unsplash

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Tron (TRX) Up 13%, Edges out IOTA In the Markets After BITBOX Listing that Includes an Airdrop

Five hours ago, the crypto exchange known as BITBOX announced it had listed Tron (TRX). Due to the listing, TRX managed to surge in the markets by 13.18% and this event was captured by CoinDesk Markets as can be seen via the tweet below:

Justin’s and BITBOX’s Airdrop Offer

Justin Sun would also offer an airdrop on the exchange for one lucky winner who will receive 30,000 TRX. In the tweet, Justin Sun stated the following:

Airdrop happening now on BITBOX! 9,000,000 $TRX available I will randomly pick one winner that will receive 30,000 #TRX

Justin’s airdrop is an addition to an existing one that was launched by BITBOX with the new listing of TRX. The airdrop will began today, the 15th of August at 1am UTC, and will end on the 22nd of August at 00:59:59 UTC. The BITBOX airdrop is divided into 4 categories as follows:

Sign-up Event

First 2,000 new sign ups on BITBOX will receive 2,000 TRON on a first-come-first-served basis.

Deposit Event

– Deposit up to 50,000 TRON and earn 2% daily on your deposits

– Max. daily earnings: 1,000 TRON (assuming max deposit of 50,000 TRON is made)

– Max. total earnings: 7,000 TRON (assuming max deposit of 50,000 TRON is made and held for the whole event of 7 days)

– Max. total earnings (%): 14%

Trading Event

– Earn 2% on all your TRON trades, up to 600,000 TRON worth of trade volume.

– Max total earnings: 12,000 TRON (Assuming trades of 600,000 TRON or more made during event period)

BITBOX Twitter Retweet Event

Follow BITBOX’s official Twitter account and retweet selected BITBOX tweet to stand a chance to win TRX airdrop. The more retweets, the higher the prize.

TRX edges out IOTA in the Crypto Markets

TRX edges out IOTA on coinmarketcap.com

With the new listing on BITBOX, Tron (TRX) has managed to edge out IOTA in the crypto markets and according to market capitalization. The difference in market cap between the two coins stands at $12 Million but this is much needed news for the Tron community.

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