TRON announces partnership with EVM-compatible chain for Bitcoin integration

Source Fxstreet
  • TRON has partnered with Merlin Chain to expand Bitcoin interoperability. 
  • Justin Sun states that TRON is taking steps to support Bitcoin Layer 2 solutions. 
  • TRON price hit a new yearly all-time high at $0.1413, on Tuesday. 

TRON recently unveiled its roadmap for integrating with the Bitcoin blockchain. Justin Sun’s X post explains how TRON will take steps to integrate its ecosystem assets with the Bitcoin blockchain and support BTC Layer 2 solutions. 

In line with its roadmap, the blockchain-based digital platform has partnered with an EVM-compatible blockchain, Merlin Chain. This partnership is expected to help TRON progress in its objective to support Bitcoin Layer 2 chains. 

Also read: TRON price rallies to yearly high following burn of over $12.6 million tokens

TRON takes steps to support Bitcoin Layer 2 solutions

TRON Network has partnered with Merlin Chain, according to a recent X announcement by co-founder Justin Sun. Merlin Chain is the native Bitcoin Layer 2 solution that recently raised funds from investors for its development plans. 

The native scaling solution integrates zero-knowledge rollups, decentralized oracle network and on-chain Bitcoin fraud proof modules. 

The partnership will help the Layer 2 chain expand its Bitcoin interoperability, utilities and boost its financial accessibility. TRON has over 210 million users, this could help Merlin Chain scale while it takes the former closer to its goal of developing and supporting BTC Layer 2 chains. 

TRON price hits new yearly high

TRON price climbed to a new 2024 peak of $0.1413 on Tuesday. Justin Sun’s announcement and the recent partnership are likely catalyzing the blockchain token’s gains. TRON price is likely to rally towards a level previously seen in May 2021, at $0.1530. 

The Moving Average Convergence Divergence (MACD) and Awesome Oscillator (AO) signal that the uptrend is likely exhausted and TRON price could suffer a correction. TRON could sweep support at the 23.6% Fibonacci retracement of its rally to its 2024 peak, before resuming its climb towards the $0.1530 target. 

TRX

TRON/USDT 1-day chart

TRON price could find support at the 23.6%, and 38.2% Fibonacci retracement level at $0.1318 and $0.1259 respectively. At the time of writing, TRON price is $0.1413. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollarSpot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.
Author  Suzie
Sep 20, Sun
Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.
placeholder
October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changedRate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
Author  Irene Q.
Yesterday 06: 22
Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
placeholder
Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anywayMicron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.
Author  Irene Q.
Yesterday 06: 51
Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.
placeholder
Gold Price Forecast: XAU/USD drifts toward $4.300 with bears gaining tractionGold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.
Author  FXStreet
Yesterday 10: 02
Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.
placeholder
US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth storyUS September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.
Author  Suzie
8 hours ago
US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.
Related Instrument
goTop
quote