The post Tron Rises 23% Amid Developments appeared on BitcoinEthereumNews.com.

Tron (TRX) investors continue to feel bullish even as the market dips after certain on-chain developments help investor sentiment remain high. According to CoinGecko, the token has increased more than 24% since last week, a sign that investors on the platform have held TRX and accumulated to capture more gains.  Related Reading Tron’s developments will help TRX hold against the downward trajectory the market has taken today. However, questions remain about whether the token will continue to go against the broader market or follow the dip.  Tron On-chain Developments Drive TRX Sky High With Tron’s focus on stablecoin development made apparent by Tron founder Justin Sun last month, yesterday saw a big win for the platform as Tether minted over $1 billion USDT without paying any gas fees on the platform. This placed Tron in the crosshairs of critics as they questioned the “no gas fee” transaction with an individual pointing out that they are charged a dollar for a simple swap approval.  Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves. — H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) July 6, 2024 Despite this, Tron handled a third of Visa’s annual settlement volume while gaining over half a billion dollars in fees in as little as 3 months. This, according to Tron, makes it clear that “blockchain is more than just a buzzword.” TODAY: $1B USDT minted on TRON They paid $0.00 in fees. Wow pic.twitter.com/NuNYRuj1Yc — Arkham (@ArkhamIntel) August 20, 2024 Source: Arkham Intelligence TRX To Face Possible Downturn Soon? The token’s current position is an awkward balance between the bulls attempting to break through the $0.1665 ceiling and the bears also attempting the reverse…

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Filed under: News - @ August 22, 2024 1:25 am