Why Have ENERGY Rental Prices Increased After August 12, 2024?

The information in this article became outdated after September 19, 2024. There have been further changes in the TRON blockchain. However, we will keep this article for historical reference.

The lowest cost for renting energy in the Telegram bot is 3.2 TRX for 32,000 ENERGY for 1 hour. This price is current as of August 26, 2024. Why have prices risen, and what has happened?

Over the last two weeks, there have been significant changes in the energy rental market. The reason for this was the launch of the SUN PUMP platform by Justin Sun for creating and trading meme tokens. Now anyone can quickly create their own meme token and promote it. This is beneficial for the overall development and popularization of the TRON blockchain. However, it has had a temporary negative impact on the energy market.

The total volume of ENERGY was 90,000,000,000 and was distributed proportionally among TRX stakers. To ensure the execution of smart contracts on SUN PUMP, a large amount of energy was required, and Justin Sun, together with his team, froze several billion of his TRX. As a result, the number of stakers increased, the volume of energy was proportionally distributed among all participants, and the individual volume of energy for each participant decreased.
Services providing energy for rent began to experience resource shortages, leading to an increase in costs. On August 25, 2024, a decision was made to increase the total amount of energy to 120,000,000,000.

The situation has now stabilized, and we can summarize the interim results. As a result of all these actions, despite the increase in the energy volume, the amount of energy for stakers has decreased by 50% compared to the period before August 12, 2024. The resource shortage has led to higher prices. As of August 26, 2024, the best offer from the Telegram bot is that the cost of energy is 100 SUN. This means that 32,000 ENERGY for 1 hour costs 3.2 TRX.

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