Tron Prepares for Major Merger with SRM Entertainment
On Tuesday, Tron’s price hovered around $0.2790, showing slight growth from this week’s low of $0.2670. It has recovered about 40% from its year’s lowest point.
The crypto world buzzes with Tron’s upcoming reverse merger with SRM Entertainment, a toy brand company. This strategic move is being orchestrated by Dominari Securities, a firm connected to the Trump family.
- SRM will stockpile TRX tokens, much like Strategy did, which turned a tech startup into the biggest Bitcoin holder.
- The merger follows Circle’s IPO success, boosting its market cap over $33 billion.
Tron aims to join other cryptos like Gemini and Kraken in going public this year. Boasting a market cap over $24 billion, it stands as the second most profitable crypto project after Tether.
Tron’s token-burning process is reducing its circulating supply. This deflationary feature enhances TRX’s value. Over the past year, it’s generated over $3.65 billion in revenue, with most fees going to super representatives or being burned.
the daily chart shows a steady rise as February, from $0.20 to today’s $0.2743. TRX’s price is above the 50-day and 100-day EMAs, a bullish sign. A prosperous cup-and-handle pattern could push TRX above $0.2958, aiming for last year’s high of $0.4497—a potential 60% increase.
