The Tron price is viral in the cryptocurrency news today, suggesting that Tron’s token was among the biggest gainers in the last 24 hours. The cryptocurrency managed to rise by more than 5% and the upside move appeared as Justin Sun announced a protocol upgrade which would introduce new privacy features to its smart contracts. As the TRX price surges by 4%, we can see that the 24-hour adjusted timeframe is full of bullish technicals and fundamentals.
Meanwhile, the rise of the TRX price also coincided with a bullish technical indicator known as a “Golden Cross.” The TRX/USD exchange rate hit $0.0186 on Monday which is its highest level in the last three months.
These gains also followed a price rally yesterday once Justin Sun, the founder of the Tron Foundation, announced a new protocol upgrade. In a tweet which he shared on Sunday, Sun wrote:
“After nearly a year in development, TRONZ’s Smart Contract Privacy Protocol will finally be released as an integral part of TRON 4.0 protocol on July 7.”
An attached letter along with the tweet shows that the TRX price surges and may rise again as Sun claimed that Tron would be the first blockchain platform to host “a smart contract privacy protocol.” The founder also added that the TRX transactions would remain non-anonymous and that there are a lot of positive Tron news moving forward.
“TRONZ Smart Contract Privacy Protocol will fully support all TRC20-standard tokens on the TRON network, whether issued or not,” the letter read. “Developers can adopt the shielded transaction feature by merely implementing the smart contract.”
When it comes to the actual TRX price, we can see that the positive news helped boost it by 4%. Currently, the price of this digital asset is at $0.0179 and the TRX price surges as it also formed a “Golden Cross” which is an indicator that gets confirmed when the short-term moving average crosses over its long-term moving average – as pictured on the photo above.
Anyways, the cryptocurrency TRX lacks adequate volume in order to move higher and faster. However, there are many positive fundamentals around this which could change this in the long run. Currently, TRX is ranked at the 16th place just above Monero (XMR) and below UNUS SED LEO (LEO).
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