Tron (TRX) is the only cryptocurrency that is trading in the green among all the top-tier 20 projects. It has managed to gain around 2 percent in the past 24 hours. This recent slight spike comes after Justin Sun, Tron’s founder, announced new partners and an incentive plan.
TRX Lonely In Green
TRX is the only cryptocurrency out of the top 20 which is trading in the green today, September 22nd. It’s up a bit more than 2 percent on the day and it’s currently trading at a price of around $0.017.
It’s also worth noting that TRX has been performing relatively well throughout the past 30 days. During this period, the cryptocurrency has gained upwards of 5 percent against the USD. More interestingly, TRX is also up against BTC over the same period. It managed to increase by around 4 percent in its value against Bitcoin.
The rest of the market, however, is having tough times today as all the other top 20 cryptocurrencies are trading in the red. Among the most significant losers today are Cardano, IOTA, and Ripple (XRP), which lost 6%, 5%, and 4% respectively.
TRON is also the only cryptocurrency that is trading positively against BTC today. In the past 24 hours, it has managed to gain around 4%.
Excitement After Justin Sun’s Announcement?
The slight increase in TRON’s price comes after Justin Sun, the project’s founder, revealed a plan for a new PoS mechanism, new staking partners, and TRX incentives.
According to the tweets, the new implementations should provide for a “fair, decentralized distribution of staking revenues, encouraging greater user participation and smoother engagement with staking from more wallets, exchanges, and partners.”
New Staking #TRON Partners $TRX Incentive plan coming:
1. A fair, decentralized distribution of staking revenues, encouraging greater user participation and smoother engagement with staking from more wallets, exchanges and partners.
— Justin Sun (@justinsuntron) September 21, 2019
In addition, to the improved PoS staking, TRON also announced that there are more TRON nodes and partners which should provide for greater decentralization. Apparently, the new implementations would cause the network to require less bandwidth consumption while also providing better robustness.
It’s also worth noting that Sun said that the most-voted 127 nodes are going to receive TRX rewards which are in proportion to the votes that they get. This is supposedly an optimized improvement which allows for greater participation returns.
The post TRON (TRX) Up 2% As Justin Sun Reveals Plans For New PoS Mechanism appeared first on CryptoPotato.