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Justin Sun Announces 60% Reduction in TRON Network Fees

Justin Sun Announces 60% Reduction in TRON Network Fees

On August 29, voting concluded on a proposal to reduce TRON network fees by 60%. The majority of the community supported the initiative, Justin Sun wrote.

“In the short term, this will negatively impact the blockchain’s profitability,” he emphasized.

Sun added that the fee reduction will attract more users and increase transaction volume. According to him, the TRON community will now conduct a quarterly dynamic review of transaction fees.

“When setting fees, factors such as TRX price fluctuations, network activity level, and growth rates will be considered to ensure a balance between TRON’s profitability and competitiveness,” wrote the project’s founder.

In June, transaction fees in the network spiked to an annual high of $7.8, forcing users to seek alternatives.

Simultaneously, the launch of Plasma—a blockchain by Bitfinex for free USDT transfers—added further pressure on TRON.

TRX, the ecosystem’s native token used for fee payments, did not react to the news. Its price fell by 3.6% over the past day.

At the time of writing, the asset is trading at $0.33.

Hourly chart of TRX/USDT on Binance. Source: TradingView.

Earlier in August, Sun filed a lawsuit against Bloomberg.

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