- TRON integrates with Bitcoin and collaborates with Merlin Chain to expand second-layer solutions and increase interoperability.
- TRON price reaches a new yearly high driven by strategic announcements, targeting a price target of $0.1530.
Recently, TRON has unveiled its strategy to link up with the Bitcoin blockchain, a significant step in the cryptocurrency arena. As shared by Justin Sun on X, TRON’s plan is to incorporate its assets into the Bitcoin environment and support BTC’s second-layer solutions.
Merlin Chain Collaboration to Strengthen BTC Layer 2
As previously noted by ETHNews, TRON has entered into a collaboration with Merlin Chain, a blockchain that supports EVM, in order to move towards its goal of supporting Bitcoin’s second-layer chains .
Merlin Chain, which has secured recent funding for expansion, offers scalable solutions that integrate zero-knowledge rollups, a decentralized oracle network and Bitcoin fraud checking modules.
Taking baby steps to support Bitcoin's layer 2 solutions on #TRON. #Bitcoin https://t.co/9lo4tcyUFL
— H.E. Justin Sun å™å®‡æ™¨ (@justinsuntron) February 27, 2024
This partnership aims to expand Bitcoin’s capabilities, utility and improve its financial accessibility. Given that TRON has over 210 million users, this partnership could enable significant scaling of Merlin Chain, bringing TRON closer to its goal of developing and supporting second-layer BTC chains.
By using an EVM-compatible chain, TRON aims to explore the extensive potential of the Bitcoin network, promoting seamless interactions between TRON and Bitcoin assets. This opens up opportunities for decentralized finance applications, cross-chain transactions and asset tokenization.
A prominent benefit of this union is the ability to execute secure, unmediated transactions between the TRON and Bitcoin networks, allowing users to move assets between the two chains efficiently of solutions provided by the EVM-compatible chain.
Additionally, this integration injects extra liquidity into the TRON environment, attracting more users and developers interested in decentralized applications and smart contracts. This initiative demonstrates TRON’s commitment to promoting innovation and mass adoption in the blockchain sector, as mentioned in this ETHNews article.
Current analysis of TRON (TRX)price indicates that it is trading at 0.14314917 USD, showing a slight decrease of 0.02% today. Over the last week, TRON has seen an increase of 2.68%, and an impressive 27.72% growth over the last month.
In the last six months, TRON has increased 87.15%, up 32.80% since the beginning of the year .
Overthe past year, TRON has seen a 106.00% increase and, over the past five years, is up 509.14%. Since its launch, TRON has seen a total growth of 4152.45%.
