In a significant milestone for the digital asset space, Justin Sun, founder of the TRON blockchain, rang the iconic Nasdaq Opening Bell in Times Square on July 24, 2025. This ceremonial event marked the official public debut of TRON Inc., a newly formed entity that emerged from a reverse merger with SRM Entertainment, a company previously listed on the Nasdaq known for its global theme park merchandise. Now trading under the ticker symbol “TRON,” this move symbolizes a bold step in bridging the gap between traditional finance and the rapidly evolving world of cryptocurrencies.
The strategic formation of TRON Inc. has positioned it as the largest publicly held holder of TRON tokens. This pivotal development has propelled the company’s market capitalization to an impressive $29,8 billion. According to CoinGecko, this surge has allowed TRON Inc. to overtake Cardano (ADA) in market cap rankings, solidifying its position as the ninth-largest cryptocurrency by market value.
“Ringing the Nasdaq Opening Bell marks a powerful milestone in TRON Inc. journey,” stated Rich Miller, CEO of TRON Inc., in a press release. He emphasized that with Justin Sun joining as Global Advisor and the company’s continued expansion into blockchain-powered treasury holdings, this moment underscores their long-term vision to build shareholder value through innovation and strategic leadership.
From a technical perspective, the price of TRX recently attempted to break out of its ascending channel, a pattern it has followed since mid-March. While it reached an intraday high near $0,34, it swiftly pulled back into the channel. The 20-day Exponential Moving Average (EMA) has since acted as a dynamic support level, containing the recent retreat. Currently hovering around $0,31, the TRX price remains in the upper region of its channel, suggesting a strong possibility of another breakout attempt.
Source: TradingView
For investors, a confirmed close above the $0,34 mark would be a key indicator for a fresh upward movement, potentially targeting the psychological $0,40 level. Conversely, a close below $0,30 could signal continued consolidation within the established ascending channel.
