TRX has increased by more than 3% on the 24-hour time frame, thanks to both positive technical indicators and fundamentals.
TRX / USD exchange rate reached $ 0.0186, which is the highest level in the past 3 months. The increase comes after Justin Sun, the father of the Tron Foundation, announced a protocol upgrade. In the tweet released on Sunday, he wrote:
“After a year of development, TRONZ’s smart contract security protocol will eventually be released as part of the TRON 4.0 protocol on July 7.”
In the attached letter, Sun announced that it would be the first blockchain platform “to keep the smart contract security protocol”. Meanwhile, TRX transactions remain anonymous, as TRON is subject to global regulations and policies.
“TRONZ’s smart contract security protocol will fully support all TRC20 standard tokens on the TRON network, whether released or not. Developers can apply transaction protection by only implementing smart contracts ”
Positive news has helped TRX maintain gains so far. Meanwhile, TRX / USD escalated to form “Golden Cross” – the uptrend index was confirmed when short-term MA surpassed long-term MA. The TRX 50-day MA closed above the MA 200, indicating that long-term bullish action will soon appear.
The crossroads between MA 50-200 appear for the first time since February 11, 2020. Earlier, this signal did not bring strong rally prices. Part of the reason is that the global market sell-off has arisen from the COVID pandemic. All crypto assets plummeted, including Bitcoin and ETH.