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Key Highlights:
- TRX overtakes DOGE with a $25.93B market cap amid surging interest and a planned mainnet upgrade.
- TRON discusses its v4.8.0 mainnet upgrade and prepares for a $210M reverse merger to go public.
- Rising open interest and steady price action indicate market confidence and institutional traction for TRX.
The native token of TRON, TRX, has officially flipped Dogecoin (DOGE) in market capitalization, according to CoinGecko rankings. TRX is ranked 8th as the best cryptocurrency in the world with a market cap of $25.93 Billion.
Dogecoin is seeing a drop in demand. Meanwhile, TRON is gaining momentum with growing utility and rising institutional interest. TRX was at the price of 0.2734 at the moment of ranking, and DOGE was at 0.1675. It’s decreased by more than 30% since May.
On the other hand, TRX rose by almost 12% over the same time frame. More people showed interest in its use as a payments infrastructure. TRON continues to see high daily transaction volume. Much of this activity comes from USDT settlements across developed and emerging markets.
The flip indicates investors’ changing interest in utility-based assets rather than speculative meme tokens. Adopting TRON in the real-life payment rails makes it a stable player.
TRON Upgrade Boosts Compatibility and Scalability
TRON is preparing to launch version 4.8.0 on its mainnet. Voting on the proposal is set to begin on June 23. The upgrade includes support for the Ethereum Cancun upgrade.
It also enhances the consensus verification layer for better performance. These are technical changes that are intended to enhance compatibility and execution efficiency.
Once passed, the upgrade will activate new virtual machine instructions to align with Ethereum’s roadmap. The move moves TRX a step closer to the standardization of EVM. This supports the interoperability of significant blockchain ecosystems.
This is an indication of high technical maturity and forward compatibility. Both of them are essential to long-term developer and institutional involvement.
The upgrade also prepares the network for future demand and more complicated applications. Consequently, this upgrade is strategically essential, other than the short-term price movement.
IPO strategy reshapes TRON’s identity in U.S. capital markets
The potential $210 Million reverse merger between TRON and Nasdaq-listed SRM Entertainment is a major development in the blockchain space. It could significantly reshape TRON’s presence in traditional financial markets.
The merger will see TRON enter the traditional financial markets, led by Dominari Securities. It is related to the Trump family. The strategy involves turning TRON into a MicroStrategy-like organization under a new name- Tron Inc.
This transition means Tron Inc. will hold TRX as a main treasury asset. It will also transform TRX into a financial reserve. The company will no longer serve just utility functions but will operate as a digital asset holding firm.
This solution may attract institutional investors seeking crypto exposure in compliant public markets.
TRON Price metrics steady amid investor interest and on-chain momentum
TRON was at $0.2748, with Ichimoku indicators reading neutral-to-bullish. TRX traded at the cloud base, with resistance at $0.2814 and short-term support at $0.2742. RSI is at 51.81 and is not overbought or oversold.
MACD indicates a small bullish crossover, which means a short-term upside. However, the momentum is modest. The chart pattern is steady, which means good price absorption at the existing levels.
Furthermore, Coinglass data showed that TRX futures open interest has increased steadily throughout the last year. It is currently on the rise above the $300 million mark. This upward trend shows an increase in trader confidence and long-term positioning.
The increasing adoption of USDT on TRON supports its practical application, particularly in cross-border and peer-to-peer payments.
This strengthens the case for TRX as a reserve token for the upcoming Tron Inc. entity. The long-term relevance of TRX is based on stable user demand and macro-level support.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
