In a notable move, the native cryptocurrency of Tron blockchain network, TRX has overtaken Dogecoin (DOGE) in market capitalization, becoming 8th largest crypto assets.
This seismic shift comes on the heels of explosive news surrounding Tron’s planned initial public offering (IPO) via a reverse merger with Nasdaq-listed SRM Entertainment, a move that has ignited speculation and reshaped the cryptocurrency landscape.
At the time of writing, Tron (TRX) is trading near $0.2790 with a market cap of $25.88 billion. The TRX price has spiked over 134% in the past one year, while it marked an all-time high of $0.4407 on 4 December, 2024.
Meanwhile, Dogecoin (DOGE) price has taken a hit in recent weeks, with it declining over 25% in the past month. It currently has a market of $25.30 billion, roughly $500 million down from Tron.
This renewed interest in TRX, combined with Tron’s strategic pivot toward Wall Street, has fueled a valuation paradigm shift.
As per recent market reports, Tron’s IPO is being orchestrated by Dominari Securities, an investment bank with ties to Eric Trump and Donald Trump Jr. This unexpected alliance has injected political capital into the crypto sphere, with sources indicating Eric Trump may join Tron Inc.’s board.
The deal reportedly involves injecting up to $210 million in token assets into the new entity, positioning Tron to adopt a MicroStrategy-style initiative — holding TRX as a core reserve asset and elevating it to an institutional-grade financial instrument.
