Tron’s Total Value Locked (TVL) dropped by $136 million, from $5.847 billion to $5.711 billion, despite mounting excitement around its upcoming Nasdaq bell-ringing event and planned IPO via a $210 million reverse merger. The ceremony, led by Tron founder Justin Sun at Nasdaq MarketSite in Times Square, marks a significant milestone as Tron Inc. goes public through a backdoor listing. Tron’s native token TRX slipped 2% to $0.309 but retains strong gains, climbing nearly 130% year-to-date. The TVL decline suggests cautious liquidity movement as the market digests these developments.
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