TRX Bulls Surge Forward as Tron Network Prepares for Major Upgrade

The Tron (TRX) network is set to undergo a major halving. upgrade On July 11, and as the upgrade draws closer, TRX and other key metrics have seen a steady rise. The upcoming Periander upgrade brings significant growth to the Tron network, while TRX experiences a jump in on-chain metrics.

The latest update to the Tron network, Great Voyage-v4.7.2 (Periender), introduces four significant upgrades aimed at increasing the performance and usability of the network. These upgrades include an enhanced Stake 2.0 mechanism, seamless compatibility with Ethereum’s EIP-3855, streamlined smart contract calling interfaces, and a new P2P network module.

Tron’s Periander Upgrade

The new Stake 2.0 mechanism provides users with greater flexibility in staking and staking their resources, with the ability to customize the lockup period for delegated resources according to their individual needs.

Compatibility with Ethereum’s EIP-3855 promotes interoperability between the two ecosystems, attracting more developers to TRON and reducing migration costs for projects on both chains.

On the other hand, the streamlined smart contract interface calling provides developers with predictable transaction fees for deploying their contracts, thereby simplifying smart contract development.

Finally, the revised P2P network module enhances the connection efficiency, availability, scalability, and transmission efficiency of the TRON network.

TRON founder Justin Sun emphasized the organization’s commitment to fostering the growth of the TRON ecosystem, attracting more developers, capital, and users to the platform.

With over 169 million users worldwide, TRON has processed over 6 billion transactions and boasts a total Value Locked (TVL) of over $5 billion. It has built an extensive ecosystem encompassing NFTs, DeFi, GamFi, stablecoins, metaverse and cross-chain solutions, and hosts the largest USDT circulating supply valued at over $46 billion, making it an industry leader. makes.

Overall, the TRON Mainnet Perender upgrade brings significant improvements to the TRON network, providing greater flexibility, adaptability and efficiency to its users and developers. The upgrade encourages greater participation in the network, attracts more developers to the platform, and stimulates ecosystem growth.

The revamped P2P network module provides a robust infrastructure that empowers developers and users to explore new possibilities and drive innovation within the TRON ecosystem.

On-chain metrics show a bullish trend for TRX

As the day for the TRON network upgrade draws near, the platform has experienced a significant increase in its on-chain metrics. statistics From DeFiLlama.

Since the beginning of the month, TRX has seen a gradual increase in trading volume, which shows that the demand for the coin is on the rise. In the past few days, the trading volume of TRX has reached over $9 million.

Additionally, network activity on TRON has also been on the rise in recent weeks. On-chain activity, such as the number of transactions and unique addresses, is an essential metric to consider.

In the lead up to the upgrade, TRON’s on-chain activity has increased, suggesting that demand for TRX is on the rise. Over 20 million transactions have taken place on the TRON network in the last three days alone.

This increasing network activity and TRON network usage are positive indicators for the TRON ecosystem and may increase further in the future.

On the other hand, TRX is in an uptrend since June 20, which started with the price of $0.06788 and is now trading above the $0.07784 mark. This shows a significant increase of 13% in the last 14 days and 4% in the span of seven days.

However, TRX is currently facing resistance from its yearly high at the same trading level. If it is unable to overcome its nearest resistance, it could potentially delay reaching new yearly highs.

Featured Image from Unsplash, Chart from Tradingview.com