Tron Network Fees Slashed After Vote—Here's What to Expect
Tron has reduced its network fees by 60% following a community vote, as announced by founder Justin Sun. This change, effective Friday, aims to benefit users and is the largest fee reduction since Tron's inception. The current market cap of TRX, Tron's native token, is $31.9 billion, making it the 10th largest cryptocurrency. Despite the short-term impact on profitability due to reduced fees, Sun believes long-term gains will result from increased user activity and transactions. Transaction costs had recently risen, averaging $1.70 and peaking at $2.50. Tron is a popular platform for stablecoins, with a market cap of over $82 billion, representing nearly 30% of the total stablecoin market across all networks. Major stablecoins like USDC and USDT are available on Tron, facilitating quick transactions in the decentralized finance space. TRX is currently trading at approximately $0.34.
