Tron (TRX) has had an incredibly well performing week, surging as much as 35% on the weekly chart thanks to a couple factors, including an upgrade to the cryptocurrency’s mainnet and the release of Virtual Machine.

The price rise first began earlier this month, when Tron’s price was trading at approximately $0.021 according to CoinMarketCap. Thanks to general market health, TRX’s price began to slowly climb, rising from the aforementioned price to nearly $0.024 before quickly spiking to its weekly high of just over $0.028.

The rapid price rise coincided with an announcement from Justin Sun, Tron’s CEO, regarding the highly anticipated Odyssey 3.1 mainnet upgrade, which is intended to increase the functionality of the cryptocurrency by increasing the speed and decreasing the cost of transactions.

Justin Sun (@justinsuntron) announced the mainnet upgrade on Twitter yesterday, saying:

“Based on community consensus, #TRON will be upgrading to Odyssey 3.1 at 8pm SGT. The TRON Committee function & TVM will go live, marking the start of the Smart Contract Era. TRON will be 200x faster vs. ETH, 100x cheaper vs. EOS. dApp developers & users, this one is for you!”

The latest upgrade to TRX’s mainnet – Tron Virtual Machine (TVM) – came about after the cryptocurrency’s super representatives had reached a consensus regarding the upgrade, giving developers a greater number of tools to create decentralized applications that read and execute smart contracts on Tron’s network.

Recently, Sun has also increased investor’s confidence in the relatively young cryptocurrency by expressing his belief that the cryptocurrency, which is now ranked 11th by market capitalization, will soon surpass Monero (XMR) and secure a place in the top 10.

“If we look at the top 10 cryptocurrencies, many of them are not motivated to continue innovating or improving their product. They represent the older generation of cryptos. Tron, on the other hand, is a young company with cutting edge technology, with much more room for growth. We are confident that Tron will surge into top 10 in the next six months,” Sun said while speaking to Investopedia in an interview.

Tron is currently trading at just over $0.026, slightly off of its recent highs. Time will tell whether or not it will continue to pump or cool off as news regarding the upgrade subsides.