Tron Inc. Rings Nasdaq Bell as TRX Overtakes Cardano to Claim 8th Spot in Crypto Rankings
- How Did Tron Inc. Achieve Its Nasdaq Listing Without a Traditional IPO?
- Why Is TRX Outperforming Cardano and Other Major Cryptos?
- What's Driving Tron's Explosive On-Chain Growth?
- How Are Justin Sun's Political Connections Impacting Tron?
- What's Next for TRX Price Action?
- FAQs
Tron Inc. made waves this week with its unconventional Nasdaq debut, bypassing a traditional IPO by acquiring toy company SRM Entertainment. The rebranded entity now holds over $115M in TRX tokens, marking the largest public TRX ownership. Meanwhile, TRX surged past cardano (ADA) in market cap rankings, hitting a record $29B amid bullish technical forecasts. The network also reported $1B in on-chain revenue for Q2 2025, cementing its position as a top-5 blockchain by transaction volume. Political ties deepened as Justin Sun advised Trump-linked World Liberty Financial, with $100M+ in Trump-themed tokens migrating to Tron's ecosystem.
How Did Tron Inc. Achieve Its Nasdaq Listing Without a Traditional IPO?
In a move that left Wall Street buzzing, tron Inc. executed a reverse merger by acquiring SRM Entertainment - a toy manufacturer supplying Disney and Universal. The company retained SRM's core business while pivoting toward blockchain, currently holding 365M TRX tokens ($115M at current prices). This strategic maneuver followed a $100M equity investment and $210M treasury deployment to establish Tron's TRX reserves. Nasdaq trading opened at $10.30 per share, skyrocketing 53.27% on debut day. "This isn't your grandfather's IPO," quipped one BTCC analyst. "They've essentially tokenized a legacy business while maintaining regulatory compliance."
Why Is TRX Outperforming Cardano and Other Major Cryptos?
The listing coincided with TRX dethroning Cardano's ADA for 8th place by market cap ($29B vs ADA's $26B), with TRX trading at $0.3149 (CoinMarketCap data). Technical analysts note key resistance at $0.335 - a historical ceiling - with support between $0.3067-$0.31. "We're seeing textbook accumulation patterns," observed TradingView chartists. Behind the momentum: TRON processed 784M Q2 transactions (2nd highest ever) and generated $1B in on-chain revenue, primarily from stablecoin issuers and DeFi protocols. "The numbers don't lie - this chain has become a fee-generating machine," remarked a DeFiLlama researcher.
What's Driving Tron's Explosive On-Chain Growth?
Three factors stand out:
- Stablecoin Dominance: USDT transactions comprise 68% of Tron's volume
- DeFi Expansion: TVL grew 42% QoQ to $8.3B
- Institutional Adoption: The SRM acquisition brings traditional finance exposure
How Are Justin Sun's Political Connections Impacting Tron?
Sun's advisory role at Trump-affiliated World Liberty Financial (WLF) has drawn attention. Over $100M in Trump-themed tokens - including WLFI and $TRUMP meme coins - recently bridged from solana to Tron via LayerZero. "All roads lead to #TRON," Sun tweeted, showcasing the network's cross-chain capabilities through Stargate Finance. While some criticize the political association, others see strategic positioning. "Love him or hate him, Sun understands spectacle," noted a Bloomberg Crypto reporter. "This moves Tron beyond tech circles into mainstream consciousness."
What's Next for TRX Price Action?
Analysts are watching two scenarios:
| Bull Case | Bear Case |
|---|---|
| Break above $0.335 could trigger FOMO rally to $0.40 | Drop below $0.3067 may test $0.29 support |
| Q3 transaction growth sustains >750M | Regulatory scrutiny of Trump tokens |
| Nasdaq listing attracts institutional flows | Broader crypto market correction |
FAQs
How did Tron list on Nasdaq without an IPO?
Through a reverse merger with SRM Entertainment, allowing public markets access while avoiding traditional IPO processes.
Why did TRX surpass Cardano in market cap?
Strong on-chain activity (784M Q2 transactions) and DeFi growth drove demand, while ADA faced sell pressure (-8% weekly).
Is Tron's $1B revenue sustainable?
While stablecoin dominance provides steady income, diversification into other sectors will determine long-term sustainability.
What risks come with Trump token affiliations?
Potential regulatory scrutiny and price volatility tied to political developments, though it also expands Tron's user base.
