TRX Crypto Prices Heat Up as Tron DAO Restructuring Takes Shape

Kishore Hore

Prices

[ad_1]

This year did not start well for most cryptocurrencies, and tron (USD-TRX) was no exception. The crash of early 2022 sent cryptocurrencies big and small crashing, while investors could only wait and watch. Despite the currency’s plunge, experts remained optimistic and predicted it would be quick start climbing again. Almost exactly one month later, these forecasts begin to come true. The TRX crypto is rising steadily today after some major news on the basis of the crypto. Social networks are excited about the next stage of the coin.

cryptos: a TRON (TRX) concept coin against an orange and black background

Source: mk1one / Shutterstock

What is happening with TRX Crypto?

On January 5, a Medium article published by the company announced that the TRON Foundation would be restructuring as a decentralized autonomous organization (DAO). Today brought confirmation that TRON DAO is moving forward. in a Twitter (NYSE:TWTR), the company announced that their Discord was officially live.

This announcement has certainly boosted the TRX crypto. As of this writing, it is up 2.44% on the day. Despite some slight dips, it quickly recovered and has continued to rise steadily. It has also been an excellent week for TRX, which is up 8% in the last five days. With gains of 5.51% for the month, it is safe to say that Tron has recovered from the cryptocurrency crash of January.

meaning

It is clear that the growth of TRX today was fueled by the social media push. The community seems to support the restructuring of DAO. As of now, there’s no reason why they shouldn’t. As the January article points out, “the establishment of TRON DAO allows users to participate in governance and decision-making in a fairer, freer, and more flexible way.” It adds that for the coin protocol, the DAO will be able to “cement community consensus, drive user engagement, and make the decision-making process more transparent, secure, and decentralized.”

The Tron team has made it very clear that they believe DAO restructuring is the best way forward. The article also emphasizes that Tron is the first public chain to become a DAO, which the team attributes to the strong commitment of the community behind TRX that helped it get this far. As you acknowledge, the outlook and validity of a blockchain protocol largely depends on exactly that. The DAO format is becoming increasingly popular as crypto developers realize the power of adapting a format designed to eliminate human input.

why does it matter

A crypto that has recently been converted into a DAO structure is Floki Inu (FLOKI-USD). The meme token confirmed its DAO restructuring in late January, leading to an uptrend price predictions. Since then, it has traded well and its digital army has praised the decision.

This decision to join the DAO club also makes sense for Tron. The currency was having a rough year before the January crash. In November 2021, TRX crypto was excluded from the list by popular trading platform eToro. A month later, founder Justin Sun walked away of the network he helped create, causing investors to worry about falling prices. The coin clearly needs to move forward and give its investors a new reason to get excited. As today’s events showed, moving forward with the DAO pivot was a good decision that will likely help it grow in the coming months.

As of the date of publication, Samuel O’Brient did not have (either directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publishing Guidelines.



[ad_2]