Tron MicroStrategy Surpasses Alibaba and Tencent in Daily Trading Volume
Justin Sun, founder of Tron, announced that SRM Entertainment, referred to as Tron MicroStrategy, has surpassed Alibaba and Tencent in daily trading volume, achieving over $1.8 billion following a reverse merger announcement. The merger with SRM Entertainment is set for June 16.
Key Highlights
- SRM Entertainment's share price increased by 533.79%, closing at $9.19.
- The stock surged over 1,000% from lows of $0.82.
- The merger allows Tron to bypass traditional IPO processes, facilitating a public listing.
- The new entity will be named "Tron Inc." and will focus on accumulating cryptocurrency reserves.
- Initial reserve operations plan to start with $210 million in token assets.
This development reflects growing confidence in Tron's initiatives within the crypto ecosystem.