TRX Slides 3.58% Amid $210M Reverse Merger News, Whale Activity, and High Trading Volumes

TRON (TRX) experienced a 3.58% price decline over the past 24 hours, falling from a 24h open of $0.2790 to a current price of $0.2690 on Binance. This downward movement is primarily attributed to increased bearish sentiment following TRX’s failure to hold above the key $0.26 support level, as well as broader market volatility and a wave of long position liquidations. Additional contributing factors include cautious investor sentiment amid news of TRON’s $210 million reverse merger with SRM Entertainment to form Tron Inc., and ongoing large-scale whale activity, with significant USDT minting and capital flows observed on the TRON network. Despite the recent price pressure, TRX maintains robust trading volume (ranging from $686.8 million to $1.45 billion in the last 24 hours) and a market capitalization near $26 billion, ranking it among the top 10 cryptocurrencies by market value.