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<p>Justin Sun rang the Nasdaq Opening Bell on July 24 to celebrate TRON Inc.’s debut, as TRX price steadies within its ascending channel after a breakout attempt lost momentum.</p>
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  <span>Summary</span>
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   <li>Justin Sun rang the Nasdaq Opening Bell to mark TRON Inc.’s public debut.</li>
   <li>TRON Inc. was formed via a reverse merger with SRM Entertainment and now trades under the ticker “TRON.”</li>
   <li>TRX price attempted to break out of ascending channel but failed and pulled back, with 20-day EMA acting as support.</li>
   <li>Price remains in the upper channel, increasing chances of another breakout attempt towards $0.40.</li>
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<p>On Thursday, July 24, Justin Sun, founder of the TRON blockchain, rang the Nasdaq Opening Bell in Times Square to mark the public debut of TRON Inc. TRON Inc. emerged from a reverse <a href="https://crypto.news/justin-suns-newly-acquired-srm-entertainment-stock-skyrockets-over-530/" rel="noopener noreferrer nofollow">merger with SRM Entertainment</a>, a <a href="https://crypto.news/tag/nasdaq" rel="noopener noreferrer nofollow">Nasdaq</a>-listed company known for supplying merchandise to global theme parks. Following the merger, the company rebranded as TRON Inc. and now trades under the ticker symbol TRON.</p>
<p>“Ringing the Nasdaq Opening Bell marks a powerful milestone in Tron Inc.’s journey<em>,”</em>&nbsp;said Rich Miller, CEO of Tron Inc, in a <a href="https://www.globenewswire.com/news-release/2025/07/23/3120433/0/en/Tron-Inc-to-Ring-The-Nasdaq-Opening-Bell-on-July-24-2025.html?utm_source=chatgpt.com" target="_blank" rel="noopener noreferrer nofollow">press release</a>. “With the addition of Justin Sun as our Global Advisor and our continued expansion into blockchain-powered treasury holdings, this moment highlights our long-term vision to build shareholder value through innovation and strategic leadership.”</p>
<p>Under Sun’s leadership, TRON Inc. has become the largest publicly held holder of TRON (<a href="https://crypto.news/price/tron/" rel="noopener noreferrer nofollow">TRX</a>) tokens. The company’s market cap has surged to approximately $29.8 billion, surpassing that of Cardano (<a href="https://crypto.news/price/cardano/" rel="noopener noreferrer nofollow">ADA</a>) and solidifying its position as the ninth-largest crypto by market cap, according to <a href="https://www.coingecko.com/" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>.</p>
<p>You might also like: <a href="https://crypto.news/pudgy-penguins-pops-at-nasdaq-with-vaneck-as-market-watches-for-pengu-price-breakout/" rel="noopener noreferrer nofollow"> Pudgy Penguins pops at NASDAQ with VanEck as market watches for PENGU price breakout </a></p>
<h2 class="wp-block-heading" id="trx-price-technical-analysis">TRX price technical analysis</h2>
<p>TRX price recently attempted a breakout from the ascending channel it’s been trading within since mid-March, reaching an intraday high near $0.34 before quickly pulling back into the channel. The move above the channel’s upper boundary appeared promising at first, as TRX price extended its multi-month uptrend and remained well above the 20-day EMA throughout July.</p>
<p>This EMA now serves as dynamic support, containing the recent pullback from the $0.34 peak. The price is currently hovering just above it, around $0.31. Moreover, the price remains in the upper region of the channel, which increases the likelihood of another breakout attempt.</p>
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 <img loading="lazy" width="2693" height="1665" src="https://crypto.news/app/uploads/2025/07/TRXUSD_2025-07-25_14-53-10.png" alt="Justin Sun rings the bell at Nasdaq opening ceremony as TRX flips ADA in market cap rankings - 28">
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  Source: <a href="https://www.tradingview.com/chart/skYOuuO6/?symbol=CRYPTO%3ATRXUSD" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
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<p>If support holds between $0.30 and $0.28 — the EMA and channel midpoint — TRX price could base for another breakout attempt. A confirmed close above $0.34 would be needed to validate a fresh leg higher, with an upside target around the psychological $0.40 mark. However, a close below $0.30 would increase the likelihood of continued consolidation within the ascending channel.</p>
<p>You might also like: <a href="https://crypto.news/particle-network-launches-universal-sdk-as-parti-price-breaks-out-45/" rel="noopener noreferrer nofollow"> Particle Network launches Universal SDK as PARTI price breaks out 45% </a></p>

Justin Sun rings the bell at Nasdaq opening ceremony as TRX flips ADA in market cap rankings

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