TRON kicks off vote on reducing TRX block and voting rewards to boost deflation

TRON has kicked off a critical vote to halve block and voting rewards, which would significantly raise TRX’s annual deflation rate from 0.85% to 1.29% The TRON ( TRX ) network has officially commenced voting on Proposal No. 102 , which seeks to cut the block reward from 16 TRX to 8 TRX and reduce the voting reward from 160 TRX to 128 TRX. Launched by TRON’s community super representatives today, June 10 at 11:07 AM Singapore time, the voting window will remain open until June 13 at 2:00 PM. If passed, the proposal would raise TRX’s annual deflation rate from 0.85% to 1.29%. This means that the new supply of TRX will continue declining, significantly increasing its scarcity and potentially boosting the token’s proce — which is good news for TRX H ODLers . You might also like: Jupiter DAO kicks off vote to officially integrate Jup and Juice Media Studio The vote comes as TRX price tracks towards the upper boundary — around $0.30— of a well-defined ascending channel that has guided the market since mid-March. The RSI sits in the bullish territory at 64 without showing signs of divergence, and the MACD has recently triggered a bullish crossover with rising histogram bars. Source: TradingView Should TRX price break the upper trendline resistance around $0.30, it could trigger a strong bullish continuation, with the next price target extending toward $0.33 based on the measured move from the ascending channel. However, the price will likely first pullback and retest the lower trendline at ~$0.27 because RSI is nearing overbought territory, which often precedes pullbacks. You might also like: Fartcoin breaks out as golden cross and shark pattern point to $2 rally ahead

Source: crypto.news