Showing posts with label DeFi. Show all posts

TRON (TRX) News - Tron’s (TRX) DeFi Ecosystem Exceeds $5.7B in Total Value Locked

In brief:

Total value locked in Tron’s DeFi ecosystem has now exceeded $5.7 Billion
Tron’s proposal 51 has increased investors confidence in TRX as the digital asset is now deflationary
TRX’s value has more than doubled in value since the beginning of the year

The Tron (TRX) Defi ecosystem has reached a new milestone in the form of total value locked. According to the project’s founder and CEO, Justin Sun, over $5.7 Billion is now locked on the various DeFi protocols on the Tron network. Mr. Sun shared this milestone with the crypto community via the following tweet.

Tron is Now a Deflationary Asset as a result of Proposal 51

Also worth mentioning is that Tron is now a deflationary asset thanks to the implementation of proposal 51 by the network’s Super Representatives. According to data provided by Tron community member Crypto Petrov, a total of 54 million Tron (TRX) has been burned forever since the proposal was implemented on the 10th of this month. Additionally, 4,906,000,000 TRX is now frozen thus reducing the circulating supply of Tron.

Proposal 51 was implemented by the Tron community to achieve the following.

Increase the current near-minimal fees for bandwidth and energy by 3,5 times in order to encourage higher freezing rate of TRX, diminish low-value transactions (spam txs), increase security, reduce TRX in circulation, and promote the increase of TRX’s value by eventually making TRX a deflationary asset.

Tron’s Value Has More Than Doubled Since the Beginning of the Year

The implementation of Proposal 51 has had a positive effect on the value of Tron (TRX). At the time of writing, TRX is trading at $0.048 after posting a local high of $0.064 on the 19th of this month.

Tron (TRX) opened 2021 at a value of $0.026 which means that it has increased in value by a factor of 1.84x when compared with its current value and by a factor of 2.46x when compared with its recent peak value.

With the new month of March only days away, chances are that Tron (TRX) will retest or exceed the local peak of $0.064 in the days and weeks to follow. However, as with all altcoins, the fate of Tron is very much tied to that of Bitcoin. Therefore, Bitcoin needs to provide the perfect environment for TRX to thrive.

First-Ever Cross-Chain DeFi OS Reef to Launch on Tron (TRX)

U.Today1 day ago

Published on February 18, 2021 05:00 GMT+1edited on February 18, 2021 05:00 GMT+1

With the recently unveiled partnership, all users of the Reef ecosystem will access decentralized financial protocols on Tron (TRX) seamlessly through the Reef platform.

New-gen "yield farming" aggregator goes live on Tron (TRX)

According to a press release shared with U.Today, Reef, an ecosystem that aggregates the most profitable liquidity usage strategies from centralized and decentralized exchanges, has partnered with Tron (TRX).

Within the framework of this partnership, Tron-native applications and smart contracts will be accessible directly from Reef. Therefore, this first-ever cross-chain DeFi operating system will be empowered by Tron's functionality.

Reef develops an AI-driven personalized yield engine to index the whole range of available liquidity farming strategies across CEXs and DEXs.

Reef & TRON Work Together to Expand DeFi Space

TRON announced that it will enter into a strategic partnership with Reef, in order to create deeper liquidity options.

TRON announced that it will enter into a strategic partnership with Reef, in order to create deeper liquidity options for anyone who is interested in the DeFi space. While DeFi is growing in popularity, the back end of the system isn’t keeping up.

With this move, Reef users will be able to directly access TRON’s DeFi ecosystem via the Reef platform, which is the first cross-chain operating system that was built on Polkadot.

The simple fact is – while DeFi has exploded in popularity, the infrastructure to make the systems operate is lagging. Ethereum has become an expensive option for anyone who wants to enter the DeFi space, which is one of the issues that TRON and Reef are working to solve.

As a multi-source DeFi aggregation platform, Reef is well placed to take full advantage of TRON’s existing DeFi ecosystem. Reef combines both Centralized Crypto Exchanges (CEXs) and Decentralized Crypto Exchanges (DEXs), to offer its users the best options for trading tokens.

TRON & Reef To Make Transactions Fast and Inexpensive

The level of decentralization that DeFi offers is great from the standpoint of an accessible ecosystem, but from a trader’s perspective, it can be very challenging.

Reef creates a solution for anyone that needs to take a market-level view of the DeFi landscape and make informed decisions when they buy and sell assets.

Denko Mancheski, the CEO of Reef Finance, commented,
“This partnership with TRON is an extension of Reef’s efforts to collaborate with the biggest players of the DeFi world. With the aim of providing curated yield opportunities on leading DeFi platforms all under one roof and establish the platform as the easiest way to get into DeFi…Reef’s users will now be able to seamlessly participate in utilizing the TRON Network and utilize TRON’s rapidly growing DeFi platform, helping usher in mainstream DeFi adoption”

Platforms like Reef will be a vital part of connecting the DeFi ecosystem with exchanges that may offer better liquidity, and also with large investors who act as stand-alone liquidity centers.

Next Generation Liquidity

The ideas behind blockchain are sound, but as platforms like Ethereum have gained a tremendous user base, the flaws in PoW systems have manifested in super high transaction prices. Clearly, this isn’t going to be sustainable, and both Reef and TRON know that better options need to come into the marketplace.

Justin Sun, the founder of TRON, told media,
“We are excited to expand TRON’s DeFi potential by partnering with Reef Finance to bring its smart liquidity aggregator and AI-driven recommendations to the TRON DeFi ecosystem…I truly believe that DeFi is the answer to the flaws in the current financial systems we rely on and this partnership brings us one step closer to lowering the barrier to mass adoption”

Reef not only connects its users to CEX and DEX liquidity, but it also uses a smart AI to help investors get the most from their capital. With these tools, the best deals are found, and capital flows to where it will create the greatest returns.

TRON’s blockchain is far less likely to experience a rise in prices, as it is based on a Delegated Proof-of-Stake (PoS) system. As Ethereum works to upgrade its platform to a Proof-of-Stake (PoS) system, the door is being left open for other platforms to enter the DeFi marketplace, and solve issues like sky-high transaction prices.

Reef and TRON certainly have the ability to innovate how DeFi operates, and also to give investors of every size a way to access an emerging asset class that may be the next frontier in global liquidity.

Tron - TRX - Price Prediction: TRX prepares for a 30% jump, eying up $0.07

Tron Price Prediction: TRX prepares for a 30% jump, eying up $0.07

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Tron price has found a strong support trendline on the 4-hour chart.
The digital asset faces only one significant barrier before a potential 30% breakout.
TRX must not lose the key support level at $0.052 to avoid a significant drop.

Tron price hit a new 2021-high at $0.061 on February 13 and had a major 25% correction down to $0.045. Since then, the digital asset has established a robust support trendline and aims for a breakout above a crucial resistance point.

Tron price is on the verge of a 30% move

On the 4-hour chart, TRX bulls have established a strong support trendline formed since February 10. The critical resistance level is $0.0537, which is the 78.6% Fibonacci level of the $0.027 to $0.061 rally.

Tron price has been rejected several times from this crucial resistance point. A breakout above $0.0537 will quickly push Tron price to at least the last high of $0.061 and potentially as high as $0.07, which is the 127.2% Fibonacci level.

On the other hand, if the bulls can't hold the key support trendline, Tron price can quickly dive towards the 61.8% Fibonacci level at $0.047 and the 50% level at $0.0437. TRX could drop as low as $0.039 at the 38.2% Fib level.

TRON (TRX) Justin Sun on Memes Clubhouse People Sentiments and Fundamental in Cryptocurrency Space

In a recent interview, with Justin Sun when asked about Elon Musk expressing his enthusiasm for Bitcoin (BTC) and how he has talked about Dogecoin, the interviewer also asked how it is possible to see TRON slip out of the top most favored cryptocurrencies by market cap. Further asked, why do you think it is and how do you get people more enthusiastic about itself.

Justin Sun, expressed that he believes that the meme is very important in the cryptocurrency industry, and that offering cryptocurrency is welcomed by the millennial and the generation Z – the new generation in this kind of situation – he expressed, “I believe meme is the answer.”

Dogecoin, the reason it is loved by Elon Musk, I think definitely it is because, Dogecoin is one of the most famous meme coin in the industry. And, also we have seen a lots of these cryptocurrency, also start to have these kinds of meme on the crypto.

The interviewer asked speaking of meme, we just have the Game Stock Drama, you said at the height of the Game Stock Share price that you would buy 10 million dollar’s worth? Did you do it? Sun replied, we already bought 10 million GME, one million AMC, and one million SORA. And, the game stock price drop and we just have 2 millions left.

Okay, you are going to hold. Yes, I am going to hold even if I lose money on the GME stock, but I still believe that this is a paradigm shift, between what is going to be the most valued stock in the market.

And, the shift to this kind of a community driven or internet community driven investment is the future. So, when the interviewer asked if this is the meme culture point that you made right? Sun replied, “Exactly.” He further stated, people make investment decisions based on community and feeling rather than fundamentals? Exactly, so, and I believe, that these kind of culture and sentiments and also community like driven is also a kind of the fundamentals.

The interviewer asked, speaking on spending money, you spent quite a bit during the famous lunch with Warren Buffet. I was just thinking, at the end of the lunch you gave him a Bitcoin, that is probably his successful investment of 2020.

Sun replied yes. He also stated that he gave Warren Buffet originally two advice on why to Buy Bitcoin and Why Buy Tesla? He stated, he can make 12 times more than what he just gave him.

TRON and Clubhouse

Interviewer stated, so, I wanted to talk about another project that you have taken in the decentralized space. You are talking about doing a Clubhouse like app, And, I am curious about how a project like that matches with some of the sensitivities that you have seen in China – speech and censorship. How are you going to pull that off?

Sun replied, definitely, I believe that Clubhouse is very popular in United States right now. And, I believe that Clubhouse is a very revolutionary product. He says they are strangers, but it is referred by your friends, so you can, see their social network connection while of course every country has their regulations. So, we definitely are going to have these kinds of moderations to have to identify it based on the countries and the different kinds of regulations. So, for example like the apps go round in several different types of counties, we will also have the server split from the major countries, guarantee the customer privacy, the same time also help us to moderate.

TRON 2021 Global DeFi Hackathon Developer Contest Application Guide

TRON Hackathon Great Voyage Embarks

SAN FRANCISCO, CA / ACCESSWIRE / February 17, 2021 / TRON, one of the largest and most popular blockchain-based operating systems in the world, has announced the launch of "Great Voyage :TRON 2021 Global DeFi Hackathon". 2021 marks the fifth year since the inception of TRON. To commemorate this occasion, TRON Foundation is offering a new hackathon program as part of the $120 million TRON DeFi Entrepreneurial Alliance Support Program.

In Q1 2021, the focus will be on enhancing the TRON DeFi ecosystem, TRON Parachain slots auction and powering SUN with the SUN Network. In order to promote the organic growth of the TRON DeFi ecosystem and encourage DeFi innovation in the community, the TRON 2021 Global DeFi Developer Hackathon, with an aggregate bounty of $10 Million, which kicked off on Feb 3rd, 2021. In doing so, the foundation hopes to encourage more entrepreneurs and development teams to participate in building the TRON DeFi ecosystem.

All blockchain/smart contract developers, product managers and designers are eligible to sign up for the contest. Contestants who finish developing an open-source DeFi project on the TRON network before the deadline will be viewed as eligible participants. The contest is also open to any existing DeFi project under development on TRON or other blockchains, as long as it meets the requirements.

Meanwhile, the judging panel comprising expert developers and community KOLs are currently being recruited. Interested applicants are welcome to contact TRON at defi_supply@tron.network.

The entry categories will be: Lending, DEX, payment, protocol interfaces, infrastructure, analysis & visualization, stablecoin, insurance, NFT, computing power-based mining and BTFS.

Registration began on February 5th, 2021 and will end on February 28th, 2021. When registering, contestants are required to specify the category of the entry, project name and complete the registration form. It is advised that contestants give a detailed description of their project in the form. Given that some projects may take a long time to develop, applicants who miss the TRON 2021 Global DeFi Developer Hackathon will be enrolled in the 2022 Hackathon.

Pre-screening will happen between March 1st and March 7th, 2021. The contest organizing committee will screen all entries through a live stream, and qualified contestants or teams will enter the next stage - development.

From March 8th, 2021 to May 1st, 2021, the organizing committee will hold weekly conference calls with development teams, where contestants are given an opportunity to update their progress. TRON is open to new registrations during the development stage.

The final review will be from May 2nd to May 8th, 2021. The panel will comprise of experts, KOLs and a public review board, whose scores account for 40%, 20% and 40% respectively of the final score. Experts and community KOLs will be scoring the entries in live streaming, while public reviewers will vote with TRX and SUN. The full score is 100 points, and projects with 80 points or more can get [Justin's Incentive Prize] of $50,000.which will be awarded to every participant whose project meets the judge's criteria (the final evaluation scores 80 points or more).

Public review board: Community members can choose projects that they are interested in and use TRX or SUN for voting .

Rules:

Participants are required to develop DeFi projects on the TRON network.
When developing, developers must use tools including but not limited to JustSwap, JustLink and TronGrid, and store source code on Github.
Complete registration in time. After passing initial screening, contestants should disclose project progress as required, otherwise the entry projects will be disqualified.
Entry projects must observe relevant laws and regulations of the countries where the project team registered.
To attract wider participation in the contest, we encourage participants to team up in the contest, where each offers their own set of expertise, like product design, coding, UI design, etc. Therefore, individual participants can send descriptions of their own expertise, the qualification they need and Telegram ID to the official email address. We will match individual participants according to their own skillsets. In this way, people who would like to devote themselves to blockchain entrepreneurship will also be able to enjoy the charm of decentralization.

Rewards:

Total prize pool: 10 Million USD

[TRON Special Prize (shared by 1 winner)] 500,000 USD

[First Prize (shared by 5 winners)] 1 Million USD

[Second Prize (shared by 10 winners)] 1 Million USD

[Justin's Incentive Prize] 50,000 USD

The special prizes, first prizes and second prizes will only be given out if there are eligible entries. In the case of no application or no eligible entry, the corresponding award will be cancelled and the prizes will be accumulated to Developer Challenge 2022.

On top of prizes, awarded projects will receive additional support including but not limited to:

Listing on Poloniex and other exchanges supporting the TRON ecosystem;
Fast-track listing on TRON-powered DEXs such as JustSwap and PoloniDEX;
Awarded projects will be featured on a dedicated page. Users can stake SUN to vote for their favorite projects, and the most voted project will get extra exposure and the chance to receive funding from TRON Foundation.
Included into the DApp section on TRONLINK and other TRON-supporting wallets with featured banner; gaining traffic from 2 billion users on BitTorrent and Utorrent clients;
Promotions on Justin Sun's Personal Social Media, TRON social media, and other official accounts of TRON Foundation.

How to Enter:

Join the Discord community at https://discord.com/invite/7RQpUsnS4d
Fill out the application form at https://forms.gle/KkC4ygUg1y1PZpWY6

About TRON

TRON is dedicated to accelerating and the decentralization of the internet through blockchain technology and decentralized applications. Founded in September 2017 by Justin Sun, the company has delivered a series of achievements, including MainNet launch on May 2018, network independence on June 2018, and TRON Virtual Machine launch on August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized services boasting approximately 100M monthly active users.

Disclaimer:

The final interpretation right of this event belongs to the TRON Foundation.

Additional resource:

TRON Developer Guide: https://developers.tron.network/

Contact:

defi_supply@tron.network

SOURCE: TRON

Cripto TRON (TRX) en el 2021

Cripto TRON en el 2021

La cripto TRON pertenece a la lista de las monedas digitales más populares del momento. aunque el objetivo apunta dos lados de la moneda, por un lado las personas qué creen qué este proyecto brindara resultados favorables, y por el otro, los expertos que aseguran que esta moneda podría caer en cualquier momento.

Un crecimiento lento

No podemos negar que la cripto TRON ha tenido un crime ciento lento, desde su nacimiento en 2017, pero es imposible ignorar su participación en la lista de las mejores criptomonedas del mercado, incluso ha ocupado el puesto número 10.

Tron fue creada por Justin Sun, el CEO de una empresa sin fines de lucro con sede en Singapur, conocida cómo Tron Foundation. Creció siendo el token ERC20 y pertenece a la red Ethereum, pero tiempo después, en 2018, logró crear su propia blockchain.

La cripto TRON, nace con el objetivo de optimizar la relación entre los creadores de contenido y los consumidores. Esta moneda digital trabaja mediante Delegated Proof-of-Stake, el cual es un algoritmo derivado de Proof of Stake que brinda la posibilidad de generar ingresos pasivos.

TRON en el mercado

A mediados del año 2017, la cripto tenía un valor de 0.002 USD, los siguientes dos años no fueron nada alentadores para la moneda digital, pero la llegada del 2020, trajo consigo grandes oportunidades para la industria, beneficios que TRON recibió, ya que incrementó más de un 80%. Hoy en 2021, tiene un precio de 0.05 UDS; y se espera que este incremento en los próximos días.

Los proyectos de la empresa y la cripto TRON, son muy ambiciosos; el intentar devolver el poder a los creadores de contenido puede abrir muchas puertas, si lo usuarios deciden comercializar con TRON, pero no podemos cantar victoria, ya que será necesario ver “al menos” algunas colaboraciones culminadas para que los usuarios confíen en la cripto.

De igual manera, el proyecto en su totalidad se encuentra en una fase inicial, así que todo podría sorprendernos. Esta criptomoneda podría convertirse en tu opción ideal para incrementar tus ingresos durante el 2021.

Tron’s TRX – Daily Analysis – February 15th, 2021

Tron’s TRX

Tron’s TRX slid by 8.28% on Sunday. Reversing an 8.94% rally from Saturday, Tron’s TRX ended the week up by 53.47% to $0.05548.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.06100 before hitting reverse.

Falling short of the first major resistance level at $0.06428, Tron’s TRX slid to a mid-afternoon intraday low $0.05200.

The reversal saw Tron’s TRX fall through the first major support level at $0.05395 before briefly revisiting $0.057 levels.

A bearish end to the day, however, saw Tron’s TRX fall back to $0.055 levels to end the day in the deep red.

At the time of writing, Tron’s TRX was down by 8.10% to $0.05098. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.05690 before falling to a low $0.04955.

Tron’s TRX fell through the first major support level at $0.050132 early on.

Lindsey Lohan’s Affair With Bitcoin Is Over. It’s Tron’s Turn Now

Lindsay Lohan has been diving into DeFi over the last 24 hours. No, not with Ethereum—with Tron.

By Jeff Benson

3 min read

Feb 11, 2021

Yesterday, actress and musical artist Lindsay Lohan publicly discovered Bitcoin. Well, sort of. She auctioned off an Ethereum-based NFT on digital collectible marketplace Rarible after predicting and/or demanding, “Bitcoin to the moon.”

Over the following 24 hours, several of her 8.4 million Twitter followers and assorted onlookers painstakingly pointed out that Bitcoin is not Ethereum, which is where that non-fungible token resides—along with a whole slew of decentralized finance (DeFi) applications that allow people to lend funds, earn interest, and swap assets without going through a financial institution.

And now, guys, Lohan totally gets it. She’s been looking into the amazing things that non-Bitcoin blockchains have to offer and she’s come away a big fan of...Tron.

“Exploring #DeFi and already liking $JST, $SUN on $TRX,” the starlet tweeted today. “Super fast and 0 fee. Good job @justinsuntron”

Tron, led by wealthy founder and CEO Justin Sun, has positioned itself as an Ethereum competitor. Tron boasts the ability to process about 100x more transactions at a time than Ethereum, no small feat as DeFi apps become increasingly popular.

The 66 Ethereum protocols and platforms tracked by DeFi Pulse currently have $40 billion in value locked into them, an indication of how widely they’re used. That represents a record and a 100% increase since the first week of January.

Tron has tried to get in on the fun. Last year, Sun went on a marketing blitz to drum up users for his blockchain’s DeFi system.

"We are creating the same kind of DeFi ecosystem as Ethereum," Sun told the LA Blockchain Summit. "All the Ethereum network products, you can see a same version of Tron products. For example, the MakerDAO on Tron is called JustStable, created by the JUST team. And UniSwap is called JustSwap."

But Tron is in decline, according to a recent report by VC firm Outlier Ventures. It wrote: "Ethereum killers Tron, EOS, Komodo, and Qtum are seeing a decrease in core development metrics." Tron had a net loss of core developers last year, a sign that its DeFi offerings aren’t translating to increased interest in the network.

Additionally, Sun and Tron have attracted attention for many of the wrong reasons. Sun has been accused of plagiarizing from the Ethereum whitepaper; Bram Cohen, who created BitTorrent, which Tron bought, accused Sun of withholding payment for the acquisition. And an expose by The Verge in September 2020 ripped Sun as a crypto tyrant, using interviews with anonymous employees.

To crypto newcomers like Lohan, however, that history (or FUD, for those who back Sun) is likely yet to be discovered. Tron is just Ethereum with more marketing.

Tron’s marketing emphasis has several people wondering if Lohan was paid for the post. (Tron has not replied to a Decrypt request for comment). If she didn’t get something before, she might in the future: Justin Sun responded to her tweet by asking for her address. “I may send you something,” he wrote.

TRON Proposal 51 Set To Make TRX Deflationary Asset

The new proposal would increase bandwidth & energy fees by 3,5x in order to encourage higher TRX freezing rate, reduce TRX in circulation & promote TRX's value increase through a deflationary model.

TRON (TRX) has experienced a weekly value rise of 47%, and a new proposal aimed at making TRX a deflationary asset is currently being voted on by TRON’s Super Representatives (SRs), further increasing the potential growth of TRX and TRX-based tokens.

Proposal 51 and its goals are simple and could be very impactful for the network:

Increase the current near-minimal fees for bandwidth and energy by 3,5 times in order to encourage higher freezing rate of TRX, diminish low-value transactions (spam txs), increase security, reduce TRX in circulation, and promote the increase of TRX’s value by eventually making TRX a deflationary asset.

Proposal 51 was fielded by Klever’s own Head of Blockchain Research and Development, Fernando Sobreira, under the TRON SR Crypto Chain.

The proposal suggests the following changes to the TRON protocol:

Modify the unit price of bandwidth, increase from the current 40sun to 140sun
Modify the unit price of energy, increase from the current 40sun to 140sun
Modify the configurable upper limit of fee limit, increase from the current 1000000000sun (1000 TRX) to 5000000000sun (5000 TRX)

To explain bandwidth and energy in simple words, TRON bandwidth allows users to perform transactions on the blockchain without paying extra gas fees, while energy is a special resource used to process smart contracts on the TRON network.

Proposal 51 is a result of discussions initiated during the last SR meeting where TRON’s representatives presented network statistics following the last energy price increases, which showed that the last upgrade did not reduce valuable transaction volume but it did increase the amount of frozen TRX in the network.

Following the last TRON Upgrade implemented through Proposal 48, the unit price of energy and bandwidth was increased from 10 sun to 40 sun on November 25, 2020. Since then, TRX’s daily supply output has been greatly reduced due to more burning from resource fees. The number of low-value transactions has also been significantly reduced. Security has been improved with the increase of the freezing rate. Meanwhile, the transaction volume has continued to rise, the increase in resource fees has a positive effect on the network.

However, although the situation of spam transactions has improved, such low-value transactions still exist, and Proposal 51 is aimed at removing their rate and mitigating the impact of such spam transactions. The other primary goal is to have players freeze more TRX in order to pay less transaction fees.

Potential risks involved in Proposal 51 would be higher costs for developers, users, and other players such as exchanges to use TRX and TRX-based assets, but this can of course be mitigated by freezing more TRX.

Moreover, the TRON network may be experiencing increased transaction fees similar to other popular smart contract blockchain chains such as Binance Smart Chain (BSC), although TRON blockchain still remains the faster in terms of speed and delivery.

It is important to note that TRON has grown exponentially over the past year to house the most active addresses of any blockchain, besides Bitcoin.

For instance, today on February 10, Bitcoin had 1.17 million active addresses, TRON 634k and Ethereum 604k. Comparing transaction count between these three dominant networks shows Bitcoin at 330k daily txs, TRON 3.18 million txs, and Ethereum 1.23 million txs. It is becoming clear that TRON’s speed for transaction delivery and relatively low transaction fees compared to other blockchains has facilitated this rise.

Moreover, USDTt (USDT-TRON) currently holds $10.5 billion USDT in assets running on the TRON network, which is roughly 1/3 of USDT-Tether’s total market cap of $30 billion.

The rest is primarily running on top of Ethereum with $19.1B, while the previously dominant BTC-based Omni has fallen to only hold $1.3B USDT. Once again, this clearly shows that low fees and fast transactions are what users and exchanges are seeking, as well as choosing.

Source: https://wallet.tether.to/transparency

To conclude, if the vote for Proposal 51 is passed, it will further increase the network freezing rate and total frozen amount, reduce TRX in circulation, promote the increase of TRX value, restrain the number of low-value transactions and reduce their harm, and improve the security and reliability of the TRON network.

Klever fully supports Proposal 51 as part of our goal for the whole blockchain ecosystem to grow together, increasing security, removing spam transactions, and valuing cooperation between validators and other players in the crypto industry.

Sincerely,

Misha Lederman

Director of Communications at Klever.io

TRON is becoming the first deflation crypto? TRX week-over-week gains pass 50%

TRON has ended its upswing after failing to break the $0.6 mark.
The influx in price is caused in by the protocol upgrade, which is most likely already priced in.
TRX will most likely experience a pullback towards the $0.538 level.

TRON (TRX) has ended its upswing by creating a new all-time high just under $0.6. What’s the reason for this price surge and should you buy some TRX now?

Fundamental analysis: new update proposal already priced in?

TRON is a blockchain-based operating system that can handle a massive amount of transactions. While Bitcoin can deal with up to six transactions per second, and Ethereum with up to 25, TRON states that its network has the capacity for 2,000 transactions per second.

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TRON is also one of the more popular blockchains for building Decentralized Applications (DApps) and is mostly focused on content sharing and entertainment. The project is also known for the aquisition of the file sharing service BitTorrent.

Tron has just approved No.51 committee proposal, which was more than well-accepted by its community. This information has reflected to its price beforehand, and is most likely already priced in. However, TRX still has a lot of upside.

TRON posted week-over-week gains of 52.73%, outperforming both Bitcoin’s 25.12% gain and Ethereum‘s 6.74% gain. Tron is currently the 21s-largest cryptocurrency by market cap, and currently boasts a market value of $3.91 billion.

At the time of writing, TRX is trading for $0.553, which represents a price increase of 94.75% when compared to the previous month’s value.

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TRX/USD technical analysis: healthy retracement in play after a massive upswing

The 21st-largest cryptocurrency by market cap has seemingly ended its uptrend after hitting an all-time high of $0.6. TRON’s current price seems very overextended, and while the cryptocurrency has a lot of upside potential, its price will most likely experience a slight downturn.

TRON has seen volume increase across the board, both for its upswings and downswings. If TRX manages to pass the $0.6 resistance level, it will most likely face the next resistance at -27.2% Fib retracement level of $0.662. On the other hand, its first strong support level is at the 23.6% Fib retracement level of $0.538.

TRON’s RSI on the daily time-frame is currently well into the overbought territory, with its current value sitting at 80.76.

Zooming in to the hourly time-frame, we can see TRX’s price increase on increased volume. The 21-hour EMA seems to provide strong immediate support to TRX, while the 50-hour EMA is right underneath it as the next support level..

While it is most likely true that the incoming protocol upgrade is already priced in, TRX has a lot of upside potential.

Cryptocurrency Market analysis

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