The TRON network has started an important vote regarding the reduction of block and voting rewards. If the proposal passes, it will increase the scarcity of the TRX token.
Key Changes to Rewards
TRON has commenced voting on Proposal No. 102, which aims to cut the block reward from 16 TRX to 8 TRX and the voting reward from 160 TRX to 128 TRX. The voting began on June 10 at 11:07 AM Singapore time and will remain open until June 13 at 2:00 PM.
Impact on TRX Deflation Rate
If passed, the proposal would increase the annual deflation rate of TRX from 0.85% to 1.29%. This change would reduce the new supply of TRX, potentially increasing its scarcity and affecting the token's price.
Current Market Trends for TRX
The TRX price is moving towards the upper boundary of an ascending channel, hovering around $0.30. The RSI is in bullish territory, and the MACD has indicated a bullish crossover. A breakout above this resistance could lead to a continuation of the upward trend.
The TRON vote regarding reward reductions could significantly impact the TRX token and its deflation rate. Market participants should closely monitor the voting results and subsequent market movements.
