The recent TRON software upgrade has resulted in a sharp increase in the price of its native token, TRX, and heightened trading activity across major exchanges.
TRX Price Surge Following the Upgrade
Following the announcement by TRON founder Justin Sun, TRX price increased by 7.2%, climbing from $0.122 to $0.130 within the first hour.
Significant Increase in Trading Volumes
Trading activity also surged, with a 43% rise totaling 1.2 billion TRX traded across major platforms such as Binance, OKX, and KuCoin.
Security Issues Following the Upgrade
However, amid the positive market response, a significant issue arose as the official TRON DAO Twitter account was hacked. Exploiting the compromised account, hackers initiated a scam to defraud unsuspecting users. Justin Sun promptly contacted OKX, urging them to freeze assets linked to the fraudulent activity, and reached out to law enforcement agencies for help in tracking and recovering the stolen funds.
Despite positive trends following the upgrade, TRON faces ongoing security challenges, underscoring the importance of security within the cryptocurrency space.
