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Justin Sun's Tron (TRX) Overtakes Cardano (ADA) Ahead of Its Nasdaq Debut
Tron (TRX) has climbed to the ninth spot in crypto ranking, overtaking Cardano (ADA) just before the Justin Sun firm makes a debut on Nasdaq. Furthermore, TRX trading activity has also surged with daily trading volume shooting 30% to more than $1.64 billion. Sun will reportedly ring the Nasdaq opening bell on Wall Street on Thursday, July 24.
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Tron Inc. to Debut on Nasdaq, Pushes Ahead of Cardano
Justin Sun’s firm, Tron Inc., made it official regarding its Nasdaq debut on July 24 and will trade on Wall Street under the TRON ticker. This development comes as the blockchain platform announced a reverse merger with SRM Entertainment last month.
As the publicly listed company with the largest holdings of TRX tokens, Tron Inc. emphasizes transparency and the advancement of decentralized finance. Justin Sun, the founder of the blockchain platform, will ring the opening bell live from the Nasdaq MarketSite in Times Square. Speaking on the development, company CEO Rich Miller said:
TRX is now ranking above Cardano’s ADA as the ninth-largest cryptocurrency with a market cap of $28.8 billion. With modest 12% gains over the past week, the altcoin is inching upwards, making its way to top altcoins by market cap.
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TRX Transaction Costs Drop 70%
Since the rollout of its Gas-Free feature in early 2025, TRON has recorded a significant drop in transaction costs. According to data shared by blockchain analytics firm Nansen, average weekly transaction fees have declined from 2.47 TRX to 0.72 TRX, a massive 70% reduction.
Source: NansenThe Gas-Free capability, developed in 2024, aims to enhance user experience and drive broader adoption by minimizing network fees. At press time, TRX price is trading 3.3% down at $0.30, with its market cap at $28.8 billion. On the other hand, Cardano (ADA) is down 10% slipping under $0.80, thereby slipping to the tenth position. It will be interesting to see whether bulls turn active following the Nasdaq debut on Thursday.
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