【TRON Inc. NASDAQ Debut: Crypto Breakthrough or Capital Game?】

On July 24, TRON Inc. (stock code: TRON) rang the bell on NASDAQ and officially completed its transformation from SRM Entertainment to a blockchain company. The company had previously announced a strategic reserve of TRX totaling $210 million, aiming to become one of the largest TRX holding entities in the world. Founder Justin Sun stated, "This marks the true beginning of the crypto era."

However, the market's feedback was below expectations: a nearly 10% drop on the first day, opening high and closing low. Although TRX, as the core asset of the company’s treasury, holds symbolic significance, investors are clearly more concerned about its future revenue model, regulatory challenges, and the pathway to shareholder value realization.

From the options market perspective, Call transactions are active, with a bullish atmosphere, but directional bets and arbitrage positions are intertwined, indicating that the main players have not yet reached a consensus. The community is divided into two factions: one side shouts "Web3 marches into Wall Street," while the other questions whether this is merely a clever packaging and arbitrage. #Tron