Tron Plans Public Listing Through Reverse Merger with SRM Entertainment
Market Overview
Key developments affecting crypto investments include:
- Tron DAO's TRX token is stable, up 1%. Tron plans to go public on NASDAQ via a reverse merger with SRM Entertainment, rebranding as "Tron Inc." This move could enhance access to its blockchain network, which accounts for 30% of stablecoin transactions.
- MemeStrategy (2440.HK), backed by 9GAG, completed Hong Kong’s first Solana treasury allocation by purchasing 2,440 SOL through OSL, valued at approximately $370,000.
- Digital asset investment products attracted $1.9 billion last week, marking nine consecutive weeks of inflows and totaling $13.2 billion year-to-date. Major inflows included $1.3 billion for Bitcoin and $583 million for Ethereum.
Market Movements
- BTC: Bitcoin increased 3.6%, passing $108,000 amid Middle East tensions.
- ETH: Ethereum rose nearly 7% to $2,671, supported by whale accumulation and strong ETF inflows.
- Gold: Gold declined to $3,383, attributed to U.S. debt ceiling concerns rather than geopolitical issues.
- Nikkei 225: The index rose 0.21% in early trading as investors await Bank of Japan policy decisions.
- S&P 500: Closed at 6,033.11, up 0.94%, boosted by easing oil prices and investor optimism regarding the Israel-Iran conflict.