Messaging Giant #LINE Launches New Crypto Fund, Lists #Tron (#TRX)
The current crumbling crypto market conditions appear to be no deterrent to tech and communications companies that are clamoring to get in on the action. South Korean messaging firm LINE is upping the game with the launch of a $10 million crypto investment fund. LINE’s Korean blockchain subsidiary, Unblock Corporation, will be operating the fund. The initial capital pool for the corporate token venture fund, named Unblock Ventures, will be $10 million which will be made by another Line Corporation company, LVC Corp. The fund is expected to expand in the future in line with growth in the blockchain sector. The company added;“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.”LINE is big in Asia and has over 200 million users, mostly in Japan, Korea, Thailand and Indonesia. It is based in Japan and listed in Tokyo and on the NYSE whereas the parent firm, Naver Corp, is based in Korea. The firm’s reach goes beyond messaging platforms as it also offers payment services, food delivery, social gaming and taxi services.
Tron (TRX) traded up 11.6% over the past 24 hours and is currently trading at $0.02154735 USD. Tron had a 24 hour low of $0.01923786 and a high of $0.02169098 Tron is the 12th largest cryptocurrency by market cap size. Tron currently has a marketcap of $1,416,254,300 USD Its 24 hr trading volume is approximately $125,451,605 USD. It has a circulating suppy of 65,748,111,645 TRX.
About Tron (TRX): TRON is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription, and push of contents and enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem. TRON is one of the largest blockchain-based operating systems in the world. It has extremely high throughput. The high throughput is achieved by improving the TPS in TRON, which has surpassed Bitcoin and Ethereum, to a daily use practical degree. It’s very scalable. Applications are given a wider variety of ways to be deployed in TRON because of its scalability and highly effective smart contract. It can support enormous numbers of users. It’s highly reliable. Its reliable network structure, user asset, intrinsic value and a higher degree of decentralization consensus come with an improved rewards distribution mechanism. Tron was founded in September 2017 by a Singapore based non-profit organization called the Tron Foundation. It is headed by CEO Justin Sun, and has a dedicated in-house development team that includes renowned technology stalwarts.
Tron (TRX) can be bought with fiat dollars, debit and credit cards on cryptocurrency exchanges such as Changelly.com and it can be bought with cryptocurrency on exchanges such as CoinEx, Binance, and HitBTC.
