TRON (TRX) Plans Mainnet Upgrade at the End of August

TRON (TRX) is headed for a scheduled upgrade of its mainnet, as it launches the TRON Virtual Machine (TVM) on August 30. The long-awaited TVM will allow for distributed computation and smart contracts, while being compatible with the Ethereum Virtual Machine (EVM).

https://twitter.com/justinsuntron/status/1032591064975126529

The update is another regular and expected piece of news, similar to previous pre-scheduled milestones such as the testnet launch, the mainnet launch and the start of elections. Currently, all 27 spots for Super Representatives have been filled by the candidates, and there are no glitches in block production.

The TRON network has also grown significantly now that the token swap is complete and tokens have been moved from exchanges. For the first time, Tronscan.org registers more than 250,000 accounts in total, with 227,848 transactions in the past 24 hours as of August 24.

However, TRON is still not among the most active networks on Blocktivity, as there are not enough activities on the network. TRON is still expecting distributed apps and smart contracts, and like many other platforms, sees lower activity compared to Ethereum. The TVM, however, might be a trigger for increasing transactions.

The TRX market price continues to suffer a prolonged slide. TRX has settled in position 12 on CoinMarketCap based by market capitalization. TRX is up 6% for the past 24 hours at $0.021 as at 10:12 UTC, as the pace of growth accelerated at around 6:00 UTC. In the past month, TRX lost nearly 50% from its market value on gradually decreasing trading volumes.

Once again, more than one third of TRX trading is concentrated on Binance, where it is traded more against the dollar-pegged Tether (TRX) token and less against BTC, where the price has also seen a constant slide. TRX trading is also active on the BitZ (against BTC) and Huobi (against USDT) exchanges, with slightly 10% shares. As of August 24, TRX is also available on the Allcoin exchange, and launched on Coinswitch on August 23. Those niche exchanges, however, only have small contributions to overall volumes.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.