A new partnership may have formed between the TRON cryptocurrency team and Chinese internet search giant Baidu. The speculation arrives as the crypto team’s CEO also hinted at a major partnership coming up. However, the report of this partnership is still unconfirmed as of Saturday, October 13, and is based on a social media post.
As reported by CoinTelegraph, the “report” of the partnering between TRON and Baidu came via a simple tweet suggesting it. Reportedly, Coinness, a cryptocurrency market service said tweeted that the TRON team told them the partnership will “officially revealed by Baidu Cloud next week.” Coinness replied to several of the replies on their tweet thread and also cited a brief report via a Chinese news site called BiShiJie.com.
Rumors started up on Friday regarding the potential partnership after Tron CEO Justin Sun hinted at it in a tweet. Sun suggested it was an “industry giant” with a valuation “tens of billions” in US dollars. He also asked followers to “Guess the name.” Initially, Sun’s followers guessed it might be Alibaba, but that was ruled out due to having a market cap of over $400 billion. Sun never confirmed or denied that Baidu is, in fact, the company he was referring to, though.
Baidu is considered similar to Google in terms of their dominance of the internet search market in China. The company’s stock, which trades on NASDAQ, finished Friday up $6.36 to close at a $204.36 price. AAs of this report, TRON (TRX) cryptocurrency was trading at $0.023329 and was listed as No. 8 overall in terms of market cap, via CoinMarketcap website.
Tron made crypto headlines earlier this month with its big mainnet debut. The coin traded at an all-time high of $0.217 back in January 2018. More recently, TRX was up as much as 10 percent within the past day after the crypto market was sluggish for the past week. However, Bitcoin has fallen from a recent level of around $6,600 to $6,200 which has also dragged cryptocurrency values down.
However, many of the investors and individuals with an interest in cryptocurrency succeeding have pointed to “real world” use of crypto or Blockchain as a way to boost the market. A major partnership like this could be a great step in getting more of these real-world associations to launch between crypto teams and companies.