- Tron (TRX) surpasses Cardano (ADA) by market cap, claiming the 9th spot in the crypto market.
- Justin Sun rings the Nasdaq opening bell as Tron Inc. begins trading under the ticker “TRON.”
- TRON’s Gas-Free upgrade slashes transaction fees by 70%, driving DeFi usage and network growth.
TRON (TRX) officially surpassed Cardano (ADA) to become the ninth-largest cryptocurrency by market capitalization, aligning with the public debut of Tron Inc. on Nasdaq. On Thursday, Justin Sun, the founder of the TRON blockchain, rang the Nasdaq opening bell at Times Square to mark the listing of Tron Inc.
Tron Inc. will be listed under the ticker “TRON” and has increased its institutional presence. Rich Miller, the CEO of Tron Inc., highlighted the company’s strategy to create shareholder value by combining traditional and blockchain assets. In addition, it improves the company’s transparency and is expected to attract investors interested in exposure to blockchain through its regulated markets. Notably, the move followed a reverse merger with SRM Entertainment, a toy manufacturer known for supplying to brands like Disney and Universal.
Tron Inc. has retained SRM’s toy operations while adopting a blockchain treasury strategy. As of this month, the firm holds more than 365 million TRX tokens valued at around $115 million, making it the largest publicly listed holder of TRX. Further, shares of TRON closed at $8.74 after the first trading day, recording a 10.68% decline.
Meanwhile, the weekly performance of TRON has garnered attention, as the price rose to $0.3134 following a 1.01% 24-hour gain and a 30% jump in its trading volume to reach $1.72 billion. On the contrary, Cardano’s ADA dropped across all timeframes and was trading at $0.8011, with a 2.22% decline in 24 hours and a higher trade volume of $2.15 billion. As of press time, TRON’s market cap is $29.45 billion, which is slightly above Cardano’s $28.1 billion.
TRON Gas-Free Feature Drives Network Momentum
A key factor contributing to TRON’s rise has been the launch of its Gas-Free feature, which was implemented in early 2025, which has lowered transaction costs considerably in the network. According to Nansen, the average weekly charges fell by over 70%, falling from 2.47 TRX to 0.72 TRX. The cost reduction has been reported to have broader adoption among DeFi projects and developers.
The Gas-Free feature builds on infrastructure launched in 2024, enhancing TRON’s role in a competitive Layer 1 market. The decreased transaction cost and increased activity of smart contracts have made the platform attractive to blockchain applications. Moreover, several analytics platforms have reported a significant surge in the usage of decentralized apps (dApps) on Tron in the first half of 2025.
With its increased exposure to the Nasdaq listing, the network activity has elevated investor sentiment. TRON is currently maintaining short-term support at around $0.3, with price resistance at around $0.35. A sustained break above this level could push the price toward $0.36–$0.38, while a failure to hold $0.31 may result in a correction to $0.29 or $0.27.
Source: TradingView
Related: TRUMP Token Boosts Reach with its Move to TRON via LayerZero
ADA Faces Downside Risk amid Momentum Shift
On the other hand, Cardano, ranked tenth, is experiencing downward momentum, with its weekly price dipping by 5.63% and is currently testing psychological support near $0.775. Failure to break above this level would trigger a downward movement to the $0.70 or $0.65 region. Although ADA’s trading volume is increasing, the falling price indicates high selling pressure.
Source: TradingView
Moreover, for a bullish reversal, Cardano would have to regain the $0.85-$0.95 range with volume support. Without new catalysts, like protocol updates or governance efforts, it can lose even more to the more rapidly evolving Layer-1 alternatives.
In a nutshell, TRON’s Nasdaq debut and market cap leap over Cardano signal a growing institutional confidence and strong network utility. With reduced gas fees, rising dApp usage, and investor momentum, TRON is gaining ground while Cardano must find fresh catalysts to regain its footing and compete in the fast-paced blockchain ecosystem.
