By Mark Ackman
TRON founder, Justin Sun, has announced that there is a merger between his TRON network and the Heco chain. He made this announcement barely 24 hours after revealing his Huobi Tokens holdings. According to Justin Sun, the TRON and BitTorrent chain network will merge with developers from Heco. On Friday, he announced that he has up to tens of millions Huobi Tokens (HT).
Many TRON users were happy about the Heco merge, which brought about an increase in the price of TRON. The cryptocurrency experience over 4% pump in price within an hour after the announcement was made by their founder.
Meaning Of Heco Chain And Its Effect On The TRON Ecosystem
HECO Chain (Heco) claims to be a high-efficiency, decentralized, and energy-saving public chain with the primary purpose of helping developers grow at any stage. Heco supports high-performance transactions in the ecosystem and is also very good with smart contracts.
The merger between Heco and TRON is profitable since Heco’s governance token is Huobi Token. The price of the Huobi token increased following the announcement from Justin Sun.
Developers have been working on connecting many chains, and the TRON Heco merge initiative could be regarded as a long-term effort from them. The team has already revealed that they want to support the Heco chain during the launch announcement of the BitTorrent Chain testnet in 2021. Justin Sun stated that the TRON ecosystem would provide funds to help Heco chain developers’ incorporation into the TRON and BitTorrent chains.
Speaking about the plan, Justin Sun tweeted: “the TRON and BitTorrent Chain ecosystem will combine with Heco chain. We will raise enough funds to incorporate Heco developers into the TRON and BitTorrent Chain.”
The New Plan
Apart from the TRON-Heco merge announcement, Justin Sun also revealed that he’s one of the members of Huobi Global’s advisory board. He further disclosed the committee’s plans to restore the lost glory of the cryptocurrency exchange in areas like business cooperation, brand upgrade, and brand empowerment.
This plan follows a change in the exchange’s leadership team. Leon Li, the company’s founder, sold all his controlling stake to About Capital Management, an investment company from Hong Kong.
As of this report’s time, Huobi Token’s price has gained 6.80% in the last 24 hours, taking it to $7.74, according to the latest CoinMarketCap data. However, TRON coin is currently at the $0.06391 price level after it experienced up to 7.21% pump in the last 24 hours. More TRON investors and traders are still optimistic about the price pump as their analysis is now based on the fundamental news effects.