Tron MicroStrategy Beats Alibaba, Tencent Ahead of IPO

Key Notes

• The surge follows the announcement of Tron Group’s reverse merger with SRM Entertainment.
• SRM Entertainment’s stock price surged by 533.79% during Monday’s trading session, closing at $9.19.
• Tron Group is set to go public in the US via a reverse merger with Nasdaq-listed SRM Entertainment, avoiding the traditional IPO process.

Tron founder Justin Sun said that SRM Entertainment, aka Tron MicroStrategy, has surpassed tech giants like Alibaba and Tencent in terms of daily trading volume. This happened as the Tron Group announced plans to go public via a reverse merger with SRM Entertainment on Monday, June 16. Furthermore, the Group stated that the new entity will soon start building its Tron

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reserves.

Tron MicroStrategy Trading Volume Crosses $1.8 Billion

While referring to SRM Entertainment as TronStrategy, Justin Sun noted that the firm hit a major milestone with daily trading volumes crossing $1.8 billion on the news of a reverse merger.

Sun highlighted the strong market enthusiasm surrounding the initiative, stating, “It’s clear that both the people and the market are highly enthusiastic about this initiative. We will continue to work hard.”

Related article: Metaplanet Offers 10X Forward BTC Yield Than Strategy, Which Is Better?The achievement reflects growing confidence in TronStrategy’s offerings as it gains traction in the broader crypto ecosystem.

During trading on June 16, the SRM Entertainment share price surged by a massive 533.79%, closing at $9.19. On the weekly chart, the stock price has surged by more than 1,000% from the lows of $0.82, all the way past $9.0.

Justin Sun’s Tron Group Eyes Public Listing With Reverse Merger

According to a report by the Financial Times, Justin Sun’s Tron Group is preparing to go public in the United States through a reverse merger with Nasdaq-listed SRM Entertainment, following previous clashes with US authorities. This approach allows Tron to bypass the traditional IPO process.

The newly merged entity of the Tron Group will be rebranded to “Tron Inc.” Dominari Securities, a boutique investment bank linked to President Donald Trump, will facilitate this merger.

Post-listing, Tron Inc. will align with Tronstrategy’s model of steady cryptocurrency acquisitions, holding Tron tokens as a key reserve asset in its treasury. The company plans to kick off its reserve operations with $210 million worth of token assets, according to sources familiar with the matter.

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