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The entire cryptocurrency market has experienced a strong downward trend in the last two weeks. Even the major cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and XRP, lost the battle against the ice king. This negative trend has knocked down most of the new projects on the market, in particular investor sentiments. There are also some projects and teams that are finding it difficult to continue their operations due to the growing presence of the bear.
Despite this, Tron [TRX], the tenth largest cryptocurrency by market capitalization, continues to make progress in terms of network development. Justin Sun, founder and CEO of Tron Foundation, presented the second proposal, Proposal 9, approved by 2/3 of the governing body. The proposal aims to make the network an environment conducive to developers by reducing the energy cost from 20 to 10 sun, which, in turn, reduces the cost of intelligent contact.
Justin Sun's Tweet on the proposal Source: Twitter
At the time of writing, the proposal had received 22 approvals and no disapproval. Representatives who voted for the proposal include Justin Sun Tron, Tron Society, BitGuild, Tron One, Lianjinshu, uTorrent, Crypto Guy in ZA, Infinity Stones, Alle Exchange, Tron Alliance, TronWalletMe, Raybo Tron, BitTorrent, Blockchain Org, CryptoChain , Sesameseed, callmeSR, DApp House, Tron Spark, TRX Market, Sky people and Tron Europe.
The first proposal of the month was related to the maximization of the energy limit of the network, which was also aimed at supporting the developers of the ecosystem. The proposal was approved by all 28 Super Representatives of the network. Super Representative are community representatives and node validators who are elected by token holders. These representatives have the power to vote for the activation of the features of the Tron Virtual Machine, with the goal of improving the whole community.
Today, the CEO of the Foundation talked about how Tron passed Stellar Lumens, the fourth largest cryptocurrency by market capitalization. He said on Twitter:
"Second
@CoinMarketCap, there are 159 trading pairs of#TRON which has already surpassed 157 Stellar trading pairs.#TRX was already listed in over 100 power plants, including Crypto / Crypto and Crypto / Fiat trading pairs "
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