Tron Network prepares for Periander upgrade – TRX reacts by…
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Tron Network’s upcoming Periander upgrade brings significant enhancements, while TRX enjoys a surge in on-chain metrics and maintains a bullish trend.
The Tron Network is set to upgrade on 11 July. TRX and other key metrics have seen a steady uptrend as the upgrade approaches.
As we enter the year’s third quarter, the Tron [TRX] network is gearing up for yet another exciting upgrade. Amidst this ongoing enhancement, the network has been buzzing with remarkable activity, and TRX has been embarking on its noteworthy journey.
Time for Periander
Tron is gearing up for the remarkable Great Voyage—v4.7.2 (Periander) update, as announced in a news release on 3 July.
This latest upgrade would bring significant enhancements across four key areas within the Tron MainNet. An advanced Stake 2.0 mechanism, seamless compatibility with EIP-3855, a more streamlined smart contract interface calling, and a revamped P2P network module.
Furthermore, Tron MainNet Periander also introduced two pivotal governance proposals for Tron Stake 2.0 to give users a more flexible staking experience. The first proposal would allow users to withdraw their unstaking requests, even if they are still in progress.
Moreover, the second proposal empowers users to personalize the lockup period for delegated resources, putting them in control. Also, according to Messari, this anticipated upgrade is set to unfold around 11 July.
Tron sees an uptick in key on-chain metrics
Recent weeks have shown promising developments for Tron, as data from DefiLlama indicates. Key metrics have been moving, bringing positive momentum to the platform.
After experiencing a decline in June, Tron’s Total Value Locked (TVL) has witnessed a modest increase in value. As of this writing, the TVL stood at an impressive $5.6 billion.
Another noteworthy highlight was the substantial growth in Tron’s user base, particularly among new users. At press time, the platform had approximately 1.7 million users, with returning users making up nearly 45,000 of that count.
Furthermore, the transaction volume soared as well, crossing the 5 million mark at the time of writing. This heightened activity level demonstrated the vibrancy and engagement within the Tron ecosystem.
TRX maintains a bullish trend
TRX has been showing signs of a strong comeback on the daily timeframe, following a decline experienced in early June. As of this writing, it was trading at approximately $0.077, gaining a modest 1% value. This resurgence indicated renewed interest and potential for further growth.
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Source: TradingView
The Relative Strength Index (RSI) also painted a positive picture, remaining above the neutral line. This suggested that the trend was still bullish, and investor sentiment favored TRX’s upward movement.
The short Moving Average (yellow line) served as its support level at around $0.074, providing a cushion for any potential pullbacks. This support and the ongoing upward trend reinforced the notion that TRX’s price was likely to continue its ascent.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
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