TRON (TRX) has managed to increase its value with around 11 percent in the past 24 hours. The move follows that of Bitcoin, which is still gaining momentum. However, Justin Sun also announced that a new network update is scheduled to take place in a few days.
TRX Price Making Big Moves
Data from CoinMarketCap shows that the price of TRX has increased by almost as much as 11 percent in the last 24 hours alone.
As My Bitcoin News reported, the move follows that of the entire cryptocurrency market, headed by its frontrunner Bitcoin (BTC). The latter continues to surge.
TRX is currently trading at around $0.026, which is almost 11 percent increase on the day. The cryptocurrency is sitting at a market cap of about $1.75 billion and a daily traded volume upwards of $600 million where a lot of it is coming from cryptocurrency exchanges BitForex and OKEx.
Justin Sun’s Announcement: Odyssey 3.5.1 Incoming
In addition to the positive trading sentiment developed throughout the last 24 hours, Justin Sun has added more fuel to the fire by announcing a new protocol upgrade called Odyssey 3.5.1.
Odyssey 3.5.1 concerns Java implementation to TRON’s network. The previous upgrade, Odyssey 3.5 was released back on February 28th, 2019. Some of its features include support for multiple signatures and different permissions in an account, as well as the development of new mechanisms to listen event message from a queue.
In addition, the previous update also made it possible to automatically adjust the upper limit of energy by the current state of the network. It also solved quite a few issues.
It’s unclear whether Sun’s announcement has anything to do with the current surge of TRX price. Looking at the market’s historic performance, chances are that Bitcoin’s significant spike also took other cryptocurrencies with it. We’ve yet to see whether the current rally is sustainable or not.
What do you think of the price of TRX? Share your thoughts in the comments below!