Tron Blockchain’s TVL (Locked Total) is declining, hitting trends despite hype about the network’s imminent Nasdaq Bell ceremony.
It’s only two weeks after Tron announced plans for an IPO (initial public offering) that were achieved through a $210 million reverse merger.
Tron hosting the Nasdaq Bell Ceremony: What users need to know
Tron announced the Nasdaq Berling ceremony in the Post Wednesday, and presented an euphoria among community members.
The official press release shows Tron founder Justin Sun will lead the ceremony. The venue will be on Nasdaq Market Site in Times Square. The event highlights the company’s transformation into next-generation technology and digital innovation.
“Ringing the Nasdaq Opening Bell marks a powerful milestone in the Tron Inc. journey,” he read an excerpt from the press release, citing Rich Miller, CEO of Tron Inc.
The announcement also unveils Tron’s plan to build shareholder value through innovation and strategic leadership, expanding to blockchain-driven Treasury holdings.
In particular, the Nasdaq The Belling formula is related to Tron’s recently announced IPO. However, this is not the way traditional IPOs suggest.
As reported by Beincrypto, the IPO is done via reverse merger. This means taking advantage of the backdoor listing method in which private companies are made public by merging with already listed companies.
Eric Trump is be inside Leadrs in newly formed Tron Inc. Dominali Securities is a New York-based investment bank with close ties to President Donald Trump Jr. and Eric Trump, the sons of President Donald Trump, and coordinated the merger.
Considering that there was no official announcement about when Tron was made public via reverse merger, today’s Nasdaq Belling could be in line with the IPO.
It is worth noting that Tron Inc. will operate similarly to Michael Saylor’s strategy (formerly MicroStrategy). This means holding a large amount of TRX tokens for Tron On the balance sheet as a Digital Asset TraasURY strategy.
Nevertheless, despite the hype at the event, Tron TVL has dropped by $136 million, moving from $5.847 billion on the date of release to $5.711 billion at the time of writing.
A drop in TVL suggests that it changes liquidity in the Tron network. Tron’s Powering Token and TRX also fell 2% over the past 24 hours.
At the time of writing, the TRX was trading at $0.30912. Despite the decline over the one-day time frame, Tron’s tokens are up 14%, up last month, with nearly 130% (YTD).
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