At the time of this article, Tron (TRX) is the only top 20 cryptocurrency in the market that recorded increases in its price against the US Dollar. That happened thanks to Justin Sun tweets that presented the new PoS mechanism plans of Tron. Accordingly, Tron (TRX) surged by 3.5%, at the moment.
Over the past 30 days, however, Tron (TRX) experienced an excellent period. In comparison to August, this month, the TRX surged by 5%, in total. That percentage could go higher by the end of the month thanks to the recent surges that Tron (TRX) witness thanks to the announcements made by Justin Sun.
The other cryptocurrencies in the market, with some exception, recorded drops in the last 24 hours. Bitcoin (BTC), for example, dropped by about 0.40%. Among the top 20 cryptos, Cardano (ADA) recorded the most considerable decrease – 6.5% in the last day.
New PoS Mechanism Plans Revealed by Justin Sun Helped Tron (TRX) Surge by 3.5%
It’s evident that the surge that Tron (TRX) experienced in the last 24 hours relates to the tweets posted by Justin Sun who revealed Tron’s plans for a new PoS mechanism, new staking partners, and TRX incentives. These improvements would attract more investors, partners, and more listings on crypto exchange platforms.
“A fair, decentralized distribution of staking revenues, encouraging greater user participation and smoother engagement with staking from more wallets, exchanges, and partners,” Justin Sun said on Twitter. Sun continued by revealing new TRX rewards for voters, better network optimization, and more.
In the long term, the new PoS mechanism plans presented by Justin Sun, along with the other improvements that would come to Tron network, could keep the bullish trend that Tron (TRX) shows as we speak. However, that could be a momentarily surge since, as we already know it, altcoins still depend on Bitcoin (BTC) and its trending in the crypto market.