TLDR
- Tron has moved ahead of Cardano to become the ninth-largest cryptocurrency by market capitalization.
- TRX daily trading volume surged by 30% reaching over 1.64 billion dollars.
- Justin Sun will ring the Nasdaq opening bell as Tron Inc. makes its public debut.
- Tron Inc. will begin trading on Nasdaq under the TRON ticker following a reverse merger with SRM Entertainment.
- TRX has gained 12% in the past week while Cardano has dropped by 10%.
Tron (TRX) has secured the ninth position in global crypto rankings, surpassing Cardano (ADA) just before its market debut. The TRON token experienced a trading volume surge of 30%, reaching over $1.64 billion in daily volume. This move comes as Tron Inc. prepares to go public through a reverse merger on the Nasdaq.
The firm will begin trading under the ticker “TRON” following its merger with SRM Entertainment. As the debut approaches, TRX maintains a market cap of $28.8 billion. The cryptocurrency is now one position ahead of ADA, which has declined in value and market capitalization.
TRX Climbs Crypto Rankings with Strong Momentum
TRX gained a notable 12% over the last seven days, securing its spot among the top ten digital assets. The asset now ranks ninth globally, reflecting a strong uptick in investor interest and daily activity. Its recent growth has been fueled by utility upgrades and the anticipation surrounding its public listing.
Tron Inc., the entity behind TRX, has revealed plans to list shares via Nasdaq following a finalized merger. Justin Sun remains central to this growth as his role intensifies in shaping TRON’s market strategy. The listing will mark a milestone for both the blockchain project and its leadership.
TRX’s price currently stands at $0.30, reflecting a minor pullback of 3.3% amid overall market fluctuation. However, the platform’s reduced fees, introduced with the Gas-Free feature, support continued user adoption. Weekly fees fell 70%, according to Nansen, pushing average fees down to 0.72 TRX.
Cardano Drops in Rank as TRX Advances
Cardano (ADA) has slipped to the tenth position, impacted by a 10% drop in its token price. Its current price remains below $0.80, reducing its market cap and allowing TRX to overtake it. This shift reflects changes in market momentum rather than a single event.
Despite ongoing development in Cardano’s ecosystem, investor focus has shifted toward TRX due to the Nasdaq-related exposure. The competition between the platforms continues as they aim to solidify long-term utility. Meanwhile, market analysts monitor whether ADA can regain its prior position.
ADA’s recent decline contrasts with TRX’s steady rise and growing visibility. With the Nasdaq debut underway, TRX holds a temporary edge. The crypto market remains dynamic as investor sentiment responds to institutional developments.
Justin Sun to Lead Tron’s Wall Street Debut
Justin Sun will ring the opening bell at Nasdaq on July 24, signaling Tron Inc.’s official entry to Wall Street. The company’s transition to a public entity marks a pivotal shift in its corporate and market positioning. Sun’s involvement reinforces confidence in the project’s leadership direction.
The company emphasized transparency and strategic treasury expansion as key factors driving its listing. Tron Inc. holds the largest TRX reserves, further aligning with its decentralization goals. With the listing, Justin Sun will take on an expanded advisory role within the company. CEO Rich Miller confirmed the debut would solidify Tron Inc.’s innovation-driven approach under Sun’s strategic influence.
