Blockchain News

Tron Launches New Features for Stake 2.0; Will it Have a Positive Impact

Tron [TRX] failed to meet many people’s expectations with the launch of Stake 2.0 last week. The cause for the disappointment was that it was unable to expand TRX’s staking strength or the number of stakers.

However, the most recent declaration may create a reversal and deliver better news in the days ahead.  JustLend DAO Mainnet has received a big upgrade, bringing with it two new Stake 2.0 features. One of the new features is called “Staked TRX,” and it allows users to obtain sTRX tokens while earning high rewards by staking TRX.

“Energy Rental” was another feature included alongside Staked TRX. The function provides a more cost-effective alternative to staking or burning energy. Furthermore, the feature allows customers to rent energy or terminate their rental at any moment.

In contrast, there is no profit from Energy Rental in traditional staking, and users must complete actions like as staking, voting, and claiming before they may receive any voting rewards. Staked TRX, on the other hand, automatically generates yields for stakers by voting with their staked TRX and renting their energy, providing higher returns and substantially simplifying staking.

These improvements may take some time to have an effect on TRX staking. At the time of publication, the scenario did not appear to be promising. According to Staking Reward data, the overall number of TRX stakes has continued to fall over the last seven days. The number of stakers has dropped by more than 2% in the last 24 hours.

However, according to TRONSCAN, the overall quantity of TRX staked showed signs of recovery, with an increase.  While Tron published the aforementioned improvements, the performance of its native coin was subpar. TRX’s price has dropped by more than 1.3% in the last hour, according to CoinMarketCap. It was trading at $0.06536 at the time of writing, with a market capitalization of more than $5.9 billion.

TRX’s Relative Strength Index (RSI) and Money Flow Index (MFI) both registered bearish downticks. The MACD showed a continued conflict between bulls and bears. Given TRX’s RSI and MFI, the bears were more likely to prevail. 

Tron’s weighted sentiment, on the other hand, fell substantially, indicating that negative sentiments surrounding the token were dominating in the market. TRX’s popularity has also declined in the recent week, as evidenced by its dropping social volume.


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