[TRON Inc. Nasdaq Debut: Encryption Breakthrough or Capital Game?]

On July 24, TRON Inc. (stock code: TRON) rang the bell on Nasdaq, officially completing its transformation from SRM Entertainment to a blockchain company. The company had previously announced a TRX strategic reserve 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 encryption era."

However, the feedback from the market was not as expected: it closed down nearly 10% on the first day, opening high and falling low. Although TRX holds symbolic significance as the core asset of the corporate treasury, investors are clearly more concerned about its future revenue model, regulatory challenges, and the path to shareholder value realization.

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