- TRON (TRX) reached $0.1681, a level last seen in January 2018, showcasing significant growth.
- The TRON community raised the network’s energy cap to 120 billion, boosting transactions and lowering fees.
TRON’s native cryptocurrency, TRX, has reached a multi-year high of $0.1681, a level last seen in January 2018. This surge is closely linked to the TRON community’s recent decision to increase the network’s energy cap to 120 billion, a move that has significantly boosted network activity and reduced transaction fees.
On August 26, Tron founder Justin Sun shared on social media that TRON Community Proposal 92 is officially in effect. This proposal increases the network’s energy cap and enables TRX stakers to perform more transactions.
Further, the TRON ecosystem has grabbed significant attention from developers and investors, primarily driven by the launch of the SunPump platform last week. This decentralized finance (DeFi) platform, dedicated to meme coins, has sparked a frenzy has resulted in network congestion and higher transaction fees. However, the recent adjustments are expected to mitigate these issues, offering a more efficient environment for TRX transactions.
Can TRX Reach a New High with Rising Bullish Momentum?
TRX’s price has seen a 5% increase over the past day, recovering from a minor weekend dip. At the time of writing, TRX is trading at $0.1667, with a market capitalization of $14.3 billion, positioning it in the tenth spot by market cap, surpassing Toncoin (TON). Over the past week, TRON has climbed over 22%, showcasing strong bullish momentum.
The surge in token burns on the TRON network further drove the recent price rally, showing growing demand and reduced supply.
Experts predict that TRX might exceed $0.2 in the coming weeks, drawing on patterns from previous cycles. They also believe it has the potential to reach an all-time high of $0.3 by next month. TRX’s recent performance, rising social media buzz, and positive analyst sentiment back this optimism.
Moreover, SUNDOG has emerged as the largest meme coin within the TRON ecosystem, hitting an all-time high of $0.331 today. As of press time, SUNDOG is up by 56%, with a market cap of $322 million, further contributing to the excitement surrounding TRON’s network activity and prospects.
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