- TRX jumps past Cardano as trading spikes 54% and market cap hits $29.23 billion fast.
- Nasdaq debut looms for Tron Inc., giving TRX a Wall Street boost despite price pullback.
Tron (TRX) has overtaken Cardano (ADA) to take the ninth position among the top cryptocurrencies by market value. TRX’s market capitalization has reached $29.23 billion after posting a 14% rise over the past month.
This gain comes shortly before Tron Inc. makes its debut on Nasdaq through a reverse merger with SRM Entertainment. The company is scheduled to list on Thursday, July 24, under the ticker symbol “TRON.”
TRX also saw a sharp rise in trading activity. Over the last 24 hours, trading volume jumped by 54.07%, hitting $1.87 billion. With this increase, Tron has surpassed Cardano not only in valuation but also in market activity. ADA, in contrast, dropped by 7.29% and is now trading below $0.80, falling to the tenth spot.
Justin Sun, the founder of Tron, is set to ring the Nasdaq opening bell from Times Square to commemorate the listing. Tron Inc. will become the largest publicly listed company holding TRX tokens. The listing has drawn attention from both institutional and retail traders, adding weight to TRX’s expanding role in digital assets.
Nasdaq Listing Sets Stage for Expansion
Tron Inc. last month announced it would go public through a reverse merger with SRM Entertainment. That transaction takes place this Thursday and will bring one of the rare blockchain-related companies to Wall Street this year.
The listing not merely highlights TRX as a digital currency but also signals Tron Inc.’s intentions to build a robust corporate profile with clear holdings and shareholder involvement.
CEO Rich Miller delivered his comments regarding how significant this breakthrough is:
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 trading at $0.308, down 2.18%, reflecting a modest pullback. Despite this dip, sentiment around the token remains largely positive.
Crypto Patel noted that TRX is still holding above a key support range between $0.1659 and $0.2092. If this zone remains intact, he believes the next resistance level could open the way for a move toward $2 during the next cycle.
Gas-Free Transactions Cut Fees by 70%, Bolster Tron Adoption
On-chain data reflects rising demand. The TRX stablecoin supply in the past 90 days has increased by a total of $13.4 billion. This reflects improving liquidity and rising adoption in decentralised financial services. Tron currently ranks at the top in terms of stablecoin volume, making it one of the most active networks in this space.
One of X’s users commented that “$TRX is Building Quiet Momentum for Something Big,” reflecting market speculation for a potential upsurge. The increase in liquidity and user participation may contribute to TRX reaching its next technical levels.
$TRX is Building Quiet Momentum for Something Big
Over the last 3 months, TRX’s stablecoin supply has grown by $13.4B, signaling strong demand and expanding liquidity.
At the same time, TRX is trading close to its all-time highs, riding a steady uptrend since November 2022.… https://t.co/t7itv3q60B pic.twitter.com/4Rq6o4cSKM
— Tron Degen Call. TRX (@RichCoin79) July 23, 2025
In addition to that, Tron introduced a ‘gas-free’ functionality in early 2025. It has reduced the average fee for a transaction by 70% from 2.47 TRX to 0.72 TRX. It also helps to reduce expenses for clients, specifically when other networks encounter surging fees and traffic.
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