In a sudden surprise, SRM Entertainment Inc., listed on Nasdaq, suddenly spiked 700%, and the Tron price suddenly rose over 9%, which alarmed the entire financial market.
Many are curious about what exactly happened that led to such a blast. Then, this article will tell you exactly why this surge occurred and what this event has to do with Tron Crypto, Justin Sun, and Eric Trump.
Why The Blast In SRM & Tron Price?
Surprisingly, a nearly dead company with negative earnings suddenly made an iconic all-time high of $10.84 alongside a bounce seen in Tron price, hitting $0.29 from $0.27. Both surges are big deals, not just any move that came on a whim.
This surge is a well-planned strategy of Justin Sun, as he announced his intention to go public in the US via a unique reverse merger with Nasdaq-listed SRM Entertainment Inc. This news became a catalyst and boosted these assets. This move left people intrigued about the future of Tron and its role in the crypto market.
Some sources revealed that Eric Trump, who has ties with Dominari Securities, assisted in the reverse merger deal. For the curious, Dominari Securities facilitated the recent deal.
Sources also highlighted that SRM Entertainment will change its name to Tron Inc. and the firm will utilize a $100 million equity investment to initiate a TRON treasury strategy.
In this recent merger news, Justin Sun was named an advisor to the company. In comparison, Eric Trump is anticipated to be in the new firm.
However, in recent events, Eric Trump shared an X post clearing all IPO doubts by saying that ” he had no involvement in this company.” In the same post, he had said positive things about Justin Sun and remarked on him as a great friend and icon in the crypto space.
Why Instead Of Fresh Company, Justin Sun’s Combined With An Old One?
First, this reverse merger deal would allow Tron to bypass the traditional IPO by merging with a publicly traded company on the Nasdaq.
This move comes right after the SEC paused its investigation, now similar to what MicroStrategy does with Bitcoin, this new corporate structure Tron is planning for TRX is the same.
Also, this would bring order to the company structure and build trust among investors. Also, immediate access to capital markets is another excellent advantage it received.
This move will go viral in the crypto sector as other companies might follow Tron’s reverse merger idea, as it could give other companies a boost with greater transparency and regulatory clarity.
Eric Trump’s Influence In The Deal Is Zero: Now What?
The Tron price has reduced to $0.278 while the SRM price has also dipped 15% to trade at $9.19. Indeed, the move was big, and Tron has strong fundamentals. The decline could be a minor sell-off from traders who booked the peak received from the news.
Since Justin Sun is already a celebrity, Eric Trump’s involvement was just a rumor. Since the Rumour is cleared, the real momentum could be witnessed in the following days or sessions.
While looking at the SRM price, it is at an ATH and in a price discovery mode; it’s unfair to predict where it will land now, as it’s too early. But if we look at Tron’s price, it has some good potential for a breakout now, similar to what was seen in December 2024.
Tron Price has built a similar ascending wedge and is inching towards the upper border from the lower border. A break above $0.30 will give higher targets.
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