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02/16/2024

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TRON(TRX) Unveils Bitcoin Layer 2 Solution: TRX Price Soars Amid Milestones

You are here: Home / News / TRON(TRX) Unveils Bitcoin Layer 2 Solution: TRX Price Soars Amid Milestones TRON (TRX) founder Justin Sun announced a significant development for the platform, unveiling TRON’s...

TRON(TRX) Unveils Bitcoin Layer 2 Solution: TRX Price Soars Amid Milestones

You are here: Home / News / TRON(TRX) Unveils Bitcoin Layer 2 Solution: TRX Price Soars Amid Milestones

TRON

TRON (TRX) founder Justin Sun announced a significant development for the platform, unveiling TRON’s Bitcoin Layer 2 solution and accompanying roadmap. This new initiative will add vitality to the number-one cryptocurrency towards its integration on the TRON network as the protocol that backs up the stablecoin market by $55 billion, the largest market globally, and a decentralized finance Total Value Locked (TVL) at $22 billion.

#TRON Announces Its Bitcoin Layer 2 Solution and Road Map

Today is a significant day for #TRON.

Let's make #Bitcoin fun again!

As the protocol behind the world's largest stablecoin market, boasting $55 billion, and the decentralized finance Total Value Locked (TVL) of $22…

— H.E. Justin Sun 孙宇晨 (@justinsuntron) February 15, 2024

The roadmap consists of three phases that outline what TRON intends to achieve. In Stage α, efforts will focus on expanding cross-chain connections to bridge more Bitcoin network-based assets to TRON. Therefore, this will enable seamless interaction between various cryptocurrencies within Tron such as USDT, BTT, JST, WIN, NFT etc., and those existing in bitcoin network.

In Stage β, however, TRON will work together with numerous Bitcoin Layer 2 protocols in developing strategic partnerships that would further enable the development of enriched infrastructures for the Bitcoin Layer 2 ecosystem. Users will be able to participate in restaking initiatives across major Bitcoin Layer 2 networks, leveraging TRON’s diverse asset portfolio.

Stage γ is the major landmark as Layer 2 solution for connecting TRON, BTTC, and Bitcoin network. This solution also intends to keep the speed and low fee of POS systems and at the same time secure POW & UTXO, paving the way for a new era of blockchain interoperability.

TRON (TRX) Price Surges to $0.13: Highest Level Since May 2021

Following the announcement, the price of TRX surged to levels last seen in May 2021, reporting an 88.33% increase on the yearly chart. Generally, after such an announcement, communities get excited, not really being sure at what pace TRX will appreciate. Anticipation for the upcoming rally is on high, as evidenced by the sentiments expressed across social media platforms.

Source: CoinMarketcap

One enthusiastic Twitter user, reflecting the community’s optimism, remarked:

Let’s see if Tron can hold the 0.13$, but I’m getting my eyes slowly towards 0.15ct soon. Once we occupy that, ATH may be the next serious target to break.”

In addition to the excitement generated by TRON’s Bitcoin Layer 2 Solution, recent data underscores the platform’s growing prominence within the cryptocurrency ecosystem. Figures from IntotheBlock reveal a notable milestone achieved by TRON, with the transaction volume of Tether (USDT) on the TRON network exhibiting a robust upward trajectory. 

The transaction volume of USDT on the TRON network shows a strong upward trend, with daily on-chain transaction volumes surpassing $10 billion consistently since October 2023. This positions TRON as the leading blockchain for USDT on-chain transactions. pic.twitter.com/WxJEvjbzw2

— IntoTheBlock (@intotheblock) February 14, 2024

Since October 2023, daily on-chain transaction volumes have consistently surpassed $10 billion, making it the leading blockchain for USDT on-chain transactions. This remarkable feat highlights TRON’s ability to handle significant financial transactions effectively and securely thereby increasing users’ and investors’ interest in its use.

Moreover, TRON (TRX) has become one of the leaders in several of these important metrics among cryptocurrencies. For instance, it has surpassed other major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Cardano (ADA) by having the highest number of active addresses.

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