Tron (TRX) has overtaken Dogecoin (DOGE) in market capitalization, becoming the eighth-largest crypto asset. This comes amid news of Tron's IPO plans through a reverse merger.
Market Overview
As of the writing of this article, Tron (TRX) is trading near $0.2790 with a market cap of $25.88 billion. Over the past year, TRX has spiked more than 134%, reaching an all-time high of $0.4407 on December 4, 2024. Meanwhile, Dogecoin (DOGE) has seen a decline of over 25% in the past month, with a market cap of $25.30 billion.
Tron's Planned IPO
Current interest in TRX is fueled by Tron's plans for an IPO via a reverse merger with Nasdaq-listed SRM Entertainment. The deal is orchestrated by the investment bank Dominari Securities, indicating a paradigm shift in Tron’s valuation, positioning it as an institutional-grade financial instrument with the potential to attract up to $210 million in token assets.
Impact of Political Connections
Reports suggest that Eric Trump may join the board of Tron Inc. This unexpected alliance may add political capital to Tron's project, thereby enhancing its reputation among investors.
Overall, the increase in Tron's market capitalization and the pending IPO denote a significant shift in the cryptocurrency landscape, fostering new opportunities for investors.
