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Tron’s TVL Drops $136M—Just as It Prepares to Ring Nasdaq’s Bell

Tron’s TVL Drops $136M—Just as It Prepares to Ring Nasdaq’s Bell

Author:
Beincrypto
Published:
2025-07-24 10:58:36
17
1

Tron's total value locked (TVL) takes a $136 million nosedive—right before its big Nasdaq debut. Timing couldn’t be worse... or more ironic.

What’s behind the slide? While Justin Sun’s team preps for Wall Street’s spotlight, the chain’s DeFi ecosystem is bleeding value. No official explanation yet, but traders are calling it a 'pre-bell sell-off.'

The Nasdaq ceremony was supposed to be Tron’s mainstream breakout moment. Instead, it’s turning into a stress test. Will institutional investors care about TVL dips when the champagne starts flowing? Probably not—this is crypto, after all.

One thing’s certain: Wall Street loves a comeback story. And in blockchain, red candles today just mean tomorrow’s FOMO fuel.

Tron To Hold Nasdaq Bell Ceremony: What Users Need to Know

Tron announced the Nasdaq bell ringing ceremony in a Wednesday post, igniting euphoria among community members.

Tron Inc. to Ring The Nasdaq Opening Bell on July 24, 2025 https://t.co/3ljG5hOtSx

tron Inc. (@TRON_INC) July 23, 2025

An official press release indicates that Tron founder Justin SUN will lead the ceremony. The venue will be the Nasdaq MarketSite in Times Square. The event will highlight the company’s transformation into next-generation technology and digital innovation.

“Ringing the Nasdaq Opening Bell marks a powerful milestone in Tron Inc.’s journey,” read an excerpt in the press release, citing Rich Miller, CEO of Tron Inc. 

The announcement also revealed Tron’s plans to build shareholder value through innovation and strategic leadership, expanding into blockchain-powered treasury holdings.

Notably, the Nasdaq bell-ringing ceremony is related to Tron’s recently announced IPO. However, not in the way a traditional IPO might suggest.

As BeInCrypto reported, the IPO WOULD be via a reverse merger. This means leveraging a backdoor listing method where a private company becomes public by merging with an already-listed company.

Eric TRUMP will be among the leaders in the newly formed Tron IncDominari Securities, a New York-based investment bank with close ties to President Donald Trump’s sons, Donald Trump Jr. and Eric Trump, orchestrated the merger.

Given there was no official announcement about when Tron went public via the reverse merger, today’s Nasdaq bell ringing likely coincides with the IPO.

It is worth noting that Tron Inc. will operate similarly to Michael Saylor’s Strategy (formerly MicroStrategy). This means holding large amounts of Tron’s TRX token on its balance sheet as a digital asset treasury strategy.

Nevertheless, despite HYPE around the event, Tron TVL is down by $136 million, moving from $5.847 billion on the announcement day to $5.711 billion as of this writing.

Tron TVL

Tron TVL. Source: DefiLlama

A drop in TVL suggests shifting liquidity on the Tron network. Tron’s powering token, TRX, has also dropped by 2% in the last 24 hours.

Tron (TRX) Price Performance

Tron (TRX) Price Performance. Source: BeInCrypto

As of this writing, TRX was trading for $0.30912. Despite the drop over the one-day timeframe, Tron’s token is up nearly 130% year-to-date (YTD) and 14% over the last month.

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