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Tron’s Largest Decentralized Exchange Acquired By Poloniex

Cryptocurrency exchange Poloniex now controls the largest decentralized exchange (DEX) on blockchain network Tron (TRX).

On Nov. 29, Justin Sun, the CEO of Tron confirmed the news that Poloniex will now operate TRX Market under the new name “Poloni DEX.”

The largest decentralized exchange based on #TRON network, #TRXMarket was acquired by @Poloniex. — Justin Sun (@justinsuntron) November 29, 2019

Poloniex Promises Long-Term Beneficial Effects For Tron

A blog post from Poloniex issued on Nov. 27 reads:

“To maintain the development of TRXMarket over the long term, the team has accepted an acquisition offer from Poloniex and will rebrand with the new name Poloni DEX, becoming a decentralized exchange under Poloniex. The official website has now changed to”

@Poloniex announced on November 28, 2019 that it had acquired TRXMarket, the largest decentralized exchange (DEX) in the #TRON/#TRX. As a result, "TRXMarket" will operate as "@PoloniDEX" under the protection of Poloniex. — TRON Foundation (@Tronfoundation) November 29, 2019

Poloniex meanwhile promised long-term beneficial effects for Tron as a result of the takeover. 

“This acquisition is bound to be a very significant move for the TRON ecosystem, signaling the exchange sector’s trust and recognition of TRON,” the blog post claims. 

TRXMarket has officially upgraded to #PoloniDEX, a significant move for the #TRON ecosystem. We believe that after joining @Poloniex, TRXMarket will have access to more premium resources and be in a position where it can better serve community members. — PoloniDEX (@PoloniDEX) November 27, 2019

As of press time, TRX/USD had come down following the announcement, shedding around 2% in the past 24 hours. 

In October, Samsung integrated Tron (TRX) support to its decentralized app (DApp) store, Blockchain Keystore that includes APIs that support TRX transactions.

Source: Poloniex| Cointelegraph | Image: Poloniex



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