TRX Drops 5.5% as Reverse Merger With SRM Spurs Volatility and Market Caution

TRXUSDT has experienced a 5.51% decline over the past 24 hours, with the current price at $0.2590 (24h open: $0.2741), primarily attributed to market caution following recent volatility and mixed sentiment after the announcement of Tron's reverse merger with Nasdaq-listed SRM Entertainment. While the merger and $100 million equity investment have positioned Tron for increased institutional visibility and contributed to its rise as the 8th largest cryptocurrency by market cap, short-term bearish pressure has emerged due to TRX failing to hold above key support levels, increased long liquidations, and a neutral-to-fearful market sentiment (Fear & Greed Index at 42). Trading activity remains concentrated, with Binance handling 65% of TRXUSDT volume, and the market is closely watching for a decisive move above $0.278 for renewed bullish momentum or further downside if support at $0.26 fails.