Tron Crypto In Spotlight as Justin Sun Unveils Network Fee Adjustment Plans

Tron (TRX) is showing a potential for a price breakout, as users notice higher transaction fees.

In light of this, Tron founder Justin Sun maintained that the network is committed to maintaining competitive transaction fees.

These discussions come amid a recent collaboration between Tron, Kraken, and Backed.

Justin Sun Announces Tron Crypto Fee Adjustment

Sun confirmed in an X post that Tron’s Super Representatives are actively reviewing adjustments for network fees.

The goal is to ensure the network remains affordable and fast, while preserving its edge in the blockchain ecosystem.

Tron’s statement follows users’ complaints that network transaction fees gradually increase when prices rise during bull markets.

Unlike traditional systems, Tron fees are tied to the value of the ecosystem token, TRX. Thus, when TRX gains value, even simple transactions become more expensive.

While TRX token holders benefit from this dynamic, it creates friction for everyday users and developers.

This system also does not benefit Tron, as users could move to other blockchains if the transaction fees become too high.

Tron does not want that, and so it has introduced an adjustment system for transaction fees to remain competitive.

According to Justin Sun, Tron’s Super Representatives serve as network guardians. The Super Representatives, elected by the community, will step in to adjust fees based on what the network needs in real time.

This flexibility is crucial for Tron to maintain affordability as the bull market drives TRX higher.

Tron aims to offer low-cost and high-speed transactions compared to other blockchains like Ethereum, Solana, and Avalanche.

Already, Tron’s speed and efficiency have positioned the network as a dominant player in stablecoin transactions. In early July, Tron officially surpassed 13 billion total transactions, powered by a growing demand for USDT.

Tron Crypto Lands Partnership with Kraken and Backed

Amid the growing adoption of Tron in payments, the blockchain announced a strategic partnership with Kraken and Backed.

TRON DAO noted that the partnership is focused on integrating xStocks with the Tron blockchain.

The partnership opens up new opportunities for tokenized equities exposure across the Tron network, further strengthening its position.

xStocks, launched by Backed in partnership with Kraken, is the industry standard for tokenized equities. TRON is an ideal platform for xStocks due to its high throughput, low-cost infrastructure, and global footprint.

The integration will allow eligible Kraken clients to deposit and withdraw xStocks directly through Tron in the coming weeks.

Furthermore, Backed will leverage the integration to deploy xStocks on Tron as TRC-20 tokens, maintaining 1:1 backing for each tokenized asset.

TRX Price Outlook in the Bull Market

According to CoinMarketCap data, in the last 24 hours, TRX price has increased by 0.6% and is trading at $0.35. The uptick comes after finding sustained support at the $0.346 and $0.348 price levels.

However, market activity has not matched the price increase as investors show minimal rally for TRX.

As of press time, volume remains down by 11.9% at $1.12 billion. This could suggest that traders were not anticipating such a price reversal so soon.

Nonetheless, bulls are eyeing resistance between $0.357 and $0.362. If momentum continues, analysts have even placed targets at $0.368 and $0.375.

Meanwhile, an earlier bullish technical indicator revealed the possibility of TRX rallying 40% to its November high of $0.4483. Notably, Tron formed a cup-and-handle pattern, with upper and lower sides at $0.2936 and $0.20, respectively.

The bullish TRX price outlook was further boosted by soaring staking inflows at the time. In just 30 days, Tron’s staking market capitalization climbed almost 20% to over $13.27 billion.