As Tron Inc and Justin Sun rang the Nasdaq stock market opening bell at Times Square in New York City on Thursday, TRON coin flipped Cardano in market cap to become the 9th largest crypto asset.
This marked one of many significant developments by Justin Sun after closely working with the Trump family.
Notably, Sun invested extensively in TRUMP meme coin and is associated with the Trump family’s crypto firm World Liberty Financial.
TRON Coin Surpasses Cardano in Market Cap
TRON topped Cardano after the crypto market crashed, with TRX price falling slightly as compared to 8% drop in ADA price.
At the time of writing, TRON coin ranked as the ninth-largest cryptocurrency with a market cap above $29 billion.
TRON also made a 2025 high last week amid continued growth in network activity. Also, stablecoin issuers prefer issuing on TRON network, signaling strong demand and expanding liquidity.
As The Coin Republic reported, the USDT supply surpassed $80 billion and represents over 50% of all circulating supply. The network became the dominant stablecoin settlement layer.
Another contributing factor to TRON’s growth was the passing of the GENIUS Act. This marked the U.S. government’s efforts in using stablecoins to strengthen the dollar’s dominance.
Moreover, the US Securities and Exchange Commission (SEC) dropped its fraud investigation into Sun’s companies. This helped shift investors’ sentiment towards tokens and crypto projects related to Justin Sun.
Lookonchain reported that the average weekly transaction fee has dropped from 2.47 TRX to 0.72 TRX.
This massive over 70% reduction happened after TRON launched its gas-free feature, which was developed last year but rolled out in early 2025.
Tron Inc and Justin Sun Rings Nasdaq Opening Bell
Tron Inc. (Nasdaq: TRON) rang the Nasdaq Stock Market Opening Bell on July 24, as per a press release. The ceremony was led by Justin Sun, global advisor to Tron Inc.
It marked a major milestone for the company as it transformed into next-generation technology and digital innovation. The company holds the largest TRX treasury.
SRM Entertainment changed its name to Tron Inc. as part of a securities purchase agreement with Justin Sun in mid-June. The company used a $100 million equity investment to initiate a TRX treasury strategy.
In addition, the firm announced a strategic investment valued at $210 million to build a substantial TRON treasury strategy. It highlighted a long-term vision to build shareholder value through innovation and strategic leadership.
TRON stock price closed 53.27% higher at $10.30 on Wednesday. The stock price was trading 1.07% lower at $10.19 during premarket hours on Thursday.
Will TRX Price Recover?
TRON price fell 2% during the market crash, with the price trading at $0.3093 at the time of writing. The 24-hour low and high were $0.3012 and $0.3168, respectively.
Furthermore, the trading volume increased by 70% in the last 24 hours, indicating a massive interest among traders.
In contrast, the derivatives market recorded buying pressure for TRX tokens, as per CoinGlass data. At the time of writing, the total TRX futures open interest shot up 1.76% to $500.92 million in the last four hours.
The token could rally to $0.40 as significant development unfolds related to TRON and Justin Sun. Analysts set a TRX price target of $0.45 by September.
 coin topped Cardano (ADA) in market cap as Justin Sun and Tron Inc ranged Nasdaq opening bell on Thursday.){kind=link}