TRON's Big Move: Voting Kicks Off to Slash Rewards and Boost Deflation

Proposal No. 102 Could Change the Game for TRX

Hold onto your hats, crypto fans! TRON just fired up the engines on a crucial vote that could shake things up big time. They're looking to slice the block and voting rewards in half, which would crank TRX's annual deflation rate from a measly 0.85% all the way up to a sizzling 1.29%!

Yep, you heard it right. The TRON (TRX) network is putting Proposal No. 102 to the test, aiming to chop the block reward from 16 TRX down to 8 TRX and shrink the voting reward from 160 TRX to 128 TRX. The community super representatives kicked off this wild ride today, June 10 at 11:07 AM Singapore time, and you've got until June 13 at 2:00 PM to cast your vote.

If this proposal gets the green light, TRX's annual deflation rate is gonna soar from 0.85% to 1.29%. That means the new supply of TRX will keep on shrinking, making it way scarcer and possibly sending the token's price through the roof — and that's music to the ears of all you TRX HODLers out there!

But wait, there's more! As we speak, TRX's price is charging towards the upper boundary of an ascending channel that's been ruling the roost since mid-March. We're talking about breaking through the $0.30 mark, folks. The RSI is hanging out in bullish territory at 64, showing no signs of slowing down, and the MACD just pulled off a bullish crossover with rising histogram bars. It's like a party in the charts and everyone's invited!

If TRX can bust through that upper trendline resistance around $0.30, get ready for a wild ride. We could see a massive bullish continuation, with the next stop potentially hitting $0.33 based on the moves we've seen in this ascending channel.

But hold your horses, because it's not all smooth sailing. The price might take a breather and pull back to test the lower trendline at around $0.27. The RSI is flirting with overbought territory, and that usually means a pullback is on the horizon.