Tron overtakes Cardano in market cap, hitting $0.31 as Justin Sun’s $100M Nasdaq reverse merger with SRM Entertainment fuels TRX’s rise.
Tron (TRX) has ascended to the ninth position in the crypto classification, surpassing Cardano (ADA) just before the Justin Sun firm’s debut on Nasdaq. Additionally, TRX trading activity has experienced a significant increase, with a daily trading volume that has increased by 30% to exceed $1.64 billion. According to reports, Sun will reportedly sound the Nasdaq opening bell on Wall Street on Thursday, July 24.
Tron Inc. to Make Nasdaq Debut, Surpassing Cardano
Tron Inc., founded by Justin Sun, announced its Nasdaq debut on July 24. The TRON ticker will be used to trade on Wall Street. This advancement occurred after the blockchain platform announced a reverse merger with SRM Entertainment last month.
Tron Inc. prioritizes transparency and the development of decentralized finance as the publicly listed company with the most TRX tokens. The opening bell will be rung live from the Nasdaq MarketSite in Times Square by Justin Sun, the originator of the blockchain platform. Rich Miller, the CEO of the corporation, commented on the development:
“Ringing the Nasdaq Opening Bell marks a powerful milestone in Tron Inc.’s journey. With the addition of Justin Sun as our Global Advisor and our continued expansion into blockchain-powered treasury holdings, this moment highlights our long-term vision to build shareholder value through innovation and strategic leadership.”
TRX is currently the ninth-largest cryptocurrency, with a market capitalization of $28.8 billion, surpassing Cardano’s ADA. The altcoin is gradually ascending, reaching the top of the altcoins by market valuation, with a modest 12% increase over the past week.
TRX transaction costs decrease by 70%
TRON has observed a substantial decrease in transaction costs since the implementation of its Gas-Free feature in early 2025. As per data provided by blockchain analytics firm Nansen, the average weekly transaction fees have decreased from 2.47 TRX to 0.72 TRX, representing a substantial 70% decrease.
The Gas-Free capability, which was developed in 2024, is designed to improve the user experience and encourage a wider adoption of the technology by reducing network fees. TRX is currently trading at $0.30, a 3.3% decrease from its previous price, and its market capitalization is $28.8 billion at the time of publication. Conversely, Cardano (ADA) has experienced a 10% decline, falling below $0.80 and consequently occupying the tenth position. Observing whether bulls become more active after the Nasdaq debut on Thursday will be intriguing.