TRON (TRX) Upgrades Network for Easier App Development; Price Action Still Neutral
The new TRON update Odyssey 3.6 will provide a smoother development environment for distributed apps.
“With joint efforts from the development team at TRON, Odyssey-V3.6 will realize a more lightweight built-in event server with added protocol data check,” the TRON team explained.
TRON is one of the networks aiming to compete in real-world applications through distributed apps (dApps). Volume is constantly growing, with TRONBet becoming the main dApp.
In general, TRON dApp usage closely follows that of Ethereum, and EOS also remains a serious competitor. The usage of dApps has increased, especially with the appearance of better dApp-supporting wallets. Online gambling through tokens remains one of the key attraction points for coin adoption.
The other most active class of dApps are decentralized exchanges, or DEX, which allow for borderless trading while remaining in custody of one’s private keys.
Despite the high public profile and the upgrades, TRX market prices move relatively slowly. TRX is up from lows of $0.018 at the bottom of the bear market, but has only appreciated to $0.03. Predictions of prices as outlandish as $0.50 or even $1 have not materialized yet. TRX trading volumes have also sunk lower, to around $500 million’s equivalent in 24 hours.
TRX market prices may also take a hit as major exchanges move away from the US market, due to fears some digital assets may be considered unregistered securities. Currently, HuobiKorea hosts the bulk of TRX activity, based on CryptoCompare data, and TRX trades mostly happen against Bitcoin (BTC). Still, the TRX/USDT pair has a 38% share of all activity.
TRX has been sliding in BTC terms, sinking from around 460 Satoshi at the beginning of June, down to the 360 Satoshi range. This price slide, despite the appreciation of BTC, is what is keeping the dollar price of TRX stagnant. As BTC makes a bid for higher prices, TRX sinks on lowered interest.
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