TRON (TRX) Awakens after Odyssey 3.1 Update Announcement

 In Altcoins, Exchanges

TRX prices have perked up after the TRON project announced the upgrade to Odyssey 3.1, promising the launch of distributed apps on the network.

TRON (TRX) prices are showing significant movement while other crypto assets continue to stagnate. After a relatively long spell of sitting around and under the $0.02 level, TRX is on the rise in recent days. The bullish news supporting the coin include its recent introduction of new fiat pairs, as well as the launch of the next version of TRON, Odyssey 3.1.

The update is seen as a key milestone to the launch of distributed apps on the TRON network. The project promises to offer a superior ecosystem to Ethereum and also EOS, with even cheaper transactions and resources.

TRON founder Justin Sun tweeted:

Sun also noted the shift in TRX sentiment and the relatively robust climb in prices. The asset is just a small step away from entering the top 10 list of coins as Monero (XMR) slides.

As of 6:20 UTC on Monday, TRX prices rose to $0.027, up more than 11% in 24 hours. Trading volumes gradually expanded to above $350 million over the same period.

For now, TRX trading is mostly concentrated on Binance, but the fiat pairs introduced on Bitfinex may also affect the overall price. The coin also sees 39% of its trading happen against USDT. Right now, with Bitcoin (BTC) prices stagnant around the $6,500 level, TRX is relatively independent, possibly set to claim higher levels.

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TRX accounts for 3.3% of all crypto trading, a relatively large share for an altcoin. And while not leading by Twitter mentions, it is still present in the top 10. The TRON network has reached 463,326 total accounts, surpassing EOS with its 358,677 total accounts. TRON is also getting more mainstream attention with mentions by NASDAQ and Investopedia.

Traders see TRX as underpriced as it is still 91% under its record highs while other coins have recovered positions. It is possible that a rise in TRX prices will not lead to immediate selling as the asset is used in voting and reward distributions. With expectations of a higher price, owners may decide to hold and accumulate coins within the ecosystem.

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.

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