TRON Increases Energy Cap to 120B to Tackle Congestion Caused by SunPump Memecoin Craze

The Tron ecosystem has seen major craze and attention from both developers and crypto investors over the past week. This is a result of the recently launched SunPump memecoin platform on the Tron blockchain, a Defi platform dedicated to the launching and trading of meme coins.

The Tron (TRX) ecosystem has seen a major surge in attention and activity from both developers and crypto investors. This is largely attributed to the recent launch of the SunPump memecoin platform on the Tron blockchain, a decentralized finance (DeFi) platform dedicated to the launching and trading of meme coins. The platform has sparked immense enthusiasm and activity within the Tron community.

However, the massive influx of users and transactions on the Tron network has also led to some congestion and an increase in transaction fees. To address this issue and ensure seamless transactions and operations on the Tron network, the Tron development team has worked on increasing Tron’s energy cap.

Tron Development Team Raises Energy Cap to 120 Billion TRX

In a recent tweet, Justin Sun, the founder of the Tron network, announced that Proposal No. 92 of the Tron community is now in effect, which will raise the energy cap to 120 billion TRX. According to Sun, this initiative will boost the number of transactions on the Tron ecosystem for TRX stakers, keeping transaction fees in check by lowering gas fees, and increasing the overall network activity.

Proposal No. 92 of the TRON community is now in effect, raising the energy cap to 120 billion.

This means more transactions for TRX stakers, lower Gas Fees, and increased network activity.

I’m impressed by the TRON community’s execution.

Sun had previously highlighted in a tweet that the move to lower gas fees and increase the energy cap will not affect Tron’s profitability. According to Sun, the fee cut could help increase daily transactions to 20 million in the next three months. This would help Tron increase its market share and raise its profits. If this happens, Sun added that Tron’s total revenue could reach $3 billion in the next 12 months, of which $1 billion would be burned and the remaining $2 billion would be used as transaction subsidies to reward stakers.

The surge in network activities comes after the introduction of the SunPump platform, which has seen meme coins like SUNDOG skyrocket in value after it surged 100x following its launch. According to projections from crypto analysts, SUNDOG could be the first meme coin on the SunPump ecosystem to reach the $1 billion market valuation.

TRX Price Surges Over 5%, Overtaking Toncoin (TON)

In response to the recent surge in network activity, the price of TRX, the native coin of the Tron ecosystem, has reacted smoothly. In the last seven days, TRX has seen a gain of 22.75% and a surge in its market capitalization, propelling it to the 9th position on the crypto market cap list. At the time of writing, TRX trades at $0.1659, showing a 3.48% increase in the last 24 hours.

Following this surge, TRX is now eyeing its all-time high of $0.2317, which was reached on January 5, 2018. According to analysts, TRX could still be up for a discovery price zone, which is largely driven by demand and supply.

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