- The Tron network will be upgraded on July 11.
- TRX and other key metrics have seen a steady upward trend as the upgrade approaches.
As we enter the third quarter of the year, the Tron [TRX] network is gearing up for another exciting upgrade. In the midst of this continuous improvement, the network is buzzing with remarkable activity and TRX has begun its remarkable journey.
Read Tron’s [TRX] Price Forecast 2023-24
Time for Periander
Tron gears up for the remarkable Great Voyage-v4.7.2 (Periander) update, as announced in a press release on July 3.
This latest upgrade would deliver significant improvements in four key areas within the Tron MainNet. An advanced Stake 2.0 mechanism, seamless compatibility with EIP-3855, a more streamlined smart contract interface call and a revamped P2P network module.
Furthermore, Tron MainNet Periander also introduced two critical governance proposals for Tron Stake 2.0 to provide users with a more flexible staking experience. The first proposal would allow users to withdraw their takedown requests, even if they are still pending.
In addition, the second proposal allows users to personalize the blocking period for delegated resources, putting them in control. According to Messari, this expected upgrade will also happen around July 11.
Tron sees an increase in key on-chain metrics
Recent weeks have shown promising developments for Tron, such as data from Defillama indicates. The key metrics are moving, giving the platform a positive boost.
After falling in June, Tron’s Total Value Locked (TVL) has witnessed a modest increase in value. At the time of writing, the TVL stood at an impressive $5.6 billion.
Another notable highlight was the significant growth of Tron’s user base, particularly among new users. At the time of writing, the platform had about 1.7 million users, of which nearly 45,000 were returning users.
Moreover, the transaction volume also increased enormously and exceeded the 5 million mark at the time of writing. This increased level of activity demonstrated the vibrancy and engagement within the Tron ecosystem.
TRX maintains a bullish trend
TRX is showing signs of a strong comeback on the daily time frame, after falling in early June. At the time of writing, it was trading at around $0.077, gaining a modest 1% value. This resurgence indicated renewed interest and potential for further growth.
Source: TradingView
How much are 1,10,100 TRXs worth today?
The Relative Strength Index (RSI) also painted a positive picture and remained above the neutral line. This suggested that the trend was still bullish and that investor sentiment was supportive of TRX’s upward movement.
The short moving average (yellow line) served as a support level around $0.074 and provided a buffer for potential pullbacks. This support and the continued uptrend reinforced the idea that the price of TRX was likely to continue rising.
