🚀 SRM Launches $100M Treasury on TRON — What’s Next?
On Monday, SRM Entertainment (SRM) said that it has successfully staked its treasury holdings of 365,096,845 TRX tokens using JustLend. Combining regular staking rewards with energy renting might boost TRX staking income to as much as 10% per year. The TRX price went up 1% that day, which was just a little effect of this news.
last move comes after it closed a $100 million investment earlier last month to start a TRON treasury strategy. After many businesses have set up Bitcoin and Ethereum Treasury reserves, TRX is next in line to create one, thanks to an investment by SRM Entertainment.
SRM just named Weike Sun the Chairman of its Board of Directors. It also decided to let Justin Sun, the inventor of TRON Blockchain, join its strategic advisory board.
"The TRON treasury approach keeps making our shareholders' investments worth more. Rich Miller, the CEO of SRM, stated, "We expect SRM to benefit as Blockchain technology becomes more widely used around the world."
Aside from the treasury reserve, DefiLlama statistics reveal that the stablecoin market value on TRON's blockchain has been continuously climbing and hit a new all-time high of $81.05 billion on Monday. The TRX project's stablecoin activity and value rise are signs of an optimistic outlook since they promote network utilization and potentially draw in additional users via Decentralized Finance (DeFi), meme currencies, and payment use cases.
After hitting its daily support level of around $0.259 on June 22, Tron price went up by 5% last week. This week, on Monday, it went up a little, by 1.05%, and as of Tuesday, it was stable at around $0.279.
If TRX keeps going higher, it might push the rally into the next daily resistance level at $0.296.
