Tron Unveils Stake 2.0: Get Ready For a Major Network Upgrade

• Tron [TRX] experienced two steep drops in value due to market shakeups and a probe by the SEC.
• Tron unveiled the test version of its new staking mechanism, Stake 2.0.
• The overall staking rate of the network was about 48%, with no notable growth over the past month.

TRON Price Crash

Tron [TRX] had an eventful March as it experienced two precipitous drops, first due to USD Coin’s [USDC] depegging and then following the probe by United States Securities and Exchange Commission (SEC) on founder Justin Sun. Consequently, it lost 6% of its value in last month, data from CoinMarketCap revealed.

Stake 2.0 Test Version

Tron unveiled the test version of its new staking mechanism, Stake 2.0, and urged users to try out its features on Nile testnet to provide feedback before a mainnet launch. If approved, Stake 2.0 will minimize complexities associated with resource management in the existing system and ensure a hassle-free experience for re-delegation of resources.

Network Traffic & Development Activity

The network saw steady growth in network traffic as daily active users rose by 6%. However, development activity on the network plunged 36%, which was a worrying sign that showed ecosystem was planning major upgrades for its users.

Current State of TRX Staking

The overall staking rate of Tron’s network or amount of TRX staked as percentage of circulating supply was about 48%. There were no notable changes observed to this ratio over last month’s period either.

Price Prediction 2023-24

It is difficult to make price predictions given how volatile cryptocurrency markets can be but one thing is certain – investors should proceed with caution while investing in any digital asset including Tron [TRX].