- The rollout of the new L2 will take place in three phases.
- TRX’s price action remained optimistic, but investor confidence declined.
Tron (TRX) Performance remained promising, with steady growth over the past month. This has already helped investors reap returns, but things also looked very optimistic in terms of blockchain development.
Tron is doing interesting things
AMBCrypto’s look at Santiment data shows that TRX’s development activity has been increasing over the past seven days. Thanks to that developer. The number of active contributors also surged last week.
Source: Santiment
The reason for this increase in development work may be due to Tron’s upcoming projects. Blockchain recently launched roadmap For Bitcoin (BTC) L2 solutions.
According to the announcement, this integration connects the Tron network directly with Bitcoin, allowing the network’s value to reach more than $55 billion. This integration improves the accessibility of layer 2 finance such as Bitcoin and Ordinals.
Tron plans to implement this integration in three stages.
The first will be the introduction of Tron ecosystem tokens, including USDT-Trc20, TRX, BTT, JST, etc., to the Bitcoin network. The second step will see Tron begin forming alliances with several Bitcoin layer 2 protocols. no see.
The third and final phase will see the public launch of a layer 2 solution that synergizes Tron, BTTC, and the Bitcoin network.
Since L2 has been generating a lot of buzz recently, TRX’s launch of BTC L2 could help further increase adoption of the blockchain. According to TRONSCAN dataTron boasts over 213 million accounts with a total of over 7 billion on-chain transactions.
Source: TronScan
Tron investors are enjoying profits
TRX’s performance in terms of price has also remained noteworthy throughout the past month. Depending on the CoinMarketCapTRX is up nearly 30% in the last 30 days.
At press time, TRX was trading at $0.1381, with a market capitalization of over $12.1 billion. However, it is surprising that despite the bullish price action, TRX’s social volume remains low.
read Tron (TRX) price prediction 2024-25
Moreover, except for January 6 and February 21, bearish sentiment surrounding the token dominated the market. This was evident in Tron’s low-weight sentiment graph.
Nonetheless, Binance’s funding rate remained high, meaning that derivatives investors were actively purchasing TRX.
Source: Santiment