On Tuesday, Tron’s price simply sat around looking contemplative, as investors sipped their metaphorical tea and squinted suspiciously at news of a brand spanking new public listing. One could almost hear the price humming to itself: “Should I stay or should I go now…”
TRX, for those unwilling to type the whole name, hovered around $0.2790—ever so slightly above this week’s lower depths of $0.2670 (call it a near-death experience, with less melodrama). It’s up 40% from its rock-bottom start of the year, so at least someone’s having a good 2024. Probably not your plants, though. 🍃
And now, the headline act: Tron’s about to pull off a reverse merger with SRM Entertainment—a toy company. Yes, toys. The only thing more volatile than crypto is trying to assemble toys on Christmas morning. Arranged by Dominari Securities (which apparently has connections to the Trump family, because of course it does), this merger is less “corporate synergy” and more “chaotic cosplay.”
If you’re wondering what a reverse merger is: picture two people running at each other full speed. Now imagine one of them is dressed as Pikachu and the other is made of blockchain. SRM will soon be hoarding TRX tokens, attempting to mimic that big-brained move by Strategy, who morphed from a “small tech company” to the biggest Bitcoin (BTC) collector since Gollum found his favorite ring. Their market cap catapulted from $1 billion in 2020 to $105 billion. Hats off, really.
This comes hot on the heels of the Circle IPO success story, which ballooned their market cap to a meaty $33 billion. Meanwhile, Gemini, Galaxy Digital, and Kraken are all standing in line to go public, as if the stock market is a trendy new nightclub. Velvet rope, crypto tokens only.
Tron itself schlepped its way to the ranks of Big Crypto, currently sitting at a robust $24 billion market cap. It’s now the second most profitable crypto project in existence, trailing only Tether—think of Tether as big sibling, Tron as slightly rebellious middle child. According to TokenTerminal (a name that makes any sentence sound more serious), Tron’s raked in over $3.65 billion in revenue over the past year, with $1.6 billion already in the 2024 piggy bank. Most of these fees are either set on fire (burned) or handed out to “super representatives”—if you don’t know what those are, just picture blockchain superheroes in expensive suits. 🦸♂️
Tron’s token-burning antics have trimmed its supply from 96.3 billion last June to a positively svelte 94.8 billion now—proving that even cryptocurrencies care about their summer body.
Tron price technical analysis
If you squint at the daily chart (above), you’ll notice TRX has been climbing up from its February blues at $0.20 to a cheery $0.2743 now. It’s popped above the 50-day and 100-day Exponential Moving Averages (which is a fancy way of saying “the graph looks happier lately”). Bulls are, allegedly, still in charge—though one wonders if the bears have simply taken a long lunch.
Chart enthusiasts will spot a “cup-and-handle” pattern, which is only slightly less cryptic than it sounds. Currently, TRX is building its “handle”—not to be confused with a teacup, though both may result in some spilled excitement. Should TRX crest its year-to-date high of $0.2958, rumor has it a “continuation rally” could propel us all the way back to last year’s high of $0.4497, a not-insignificant 60% upside. Or, in Discworld terms: the price ticked higher, the wizards argued, and the fortune tellers prepared to say “I told you so.” 🤑🚀
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2025-06-17 21:36