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Information about Cronos (CRO)
Crypto.com Coin is an open-source, decentralized blockchain project developed by Crypto.com. They are on a mission to accelerate the world’s transition to cryptocurrency, make it easier for users to buy, sell, trade an extensive list of currencies, and enjoy relatively low trading fees. Built on the foundation of modern technology, Crypto.com Coin pays great attention to protecting users’ data and identities, aiming for a world where each individual has complete control over their assets.
In addition, this project also has a unique feature that is developing sustainably, limiting carbon emissions, and becoming more environmentally friendly.
CRO is a native token of the Crypto.com Coin ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
News
Cronos is showing bullish signs, maintaining a price above $0.0975 and targeting $0.1 as support. Significant buying volume further backs the upward trend.
The 1-day RSI and On-Balance Volume signal a solid momentum for CRO’s price. However, traders should be cautious of a possible dip due to the negative funding rate, indicating crowded short positions.
Crypto.com has drawn criticism for reissuing 70 billion CRO tokens, which contradicts its earlier commitment to burn them. Following a partnership announcement with Trump Media, CRO’s price spiked 35%, leading to accusations of market manipulation despite ongoing scrutiny.
Many in the crypto community are skeptical about the partnership with Truth Social, claiming that Crypto.com should collaborate with more established exchanges. Allegations against CEO Kris Marszalek suggest potential influence in securing the deal, while the mixed market sentiment around CRO raises further questions.
Trump Media, the media company affiliated with U.S. President Donald Trump’s family, has announced a non-binding agreement with Crypto.com to launch exchange-traded funds (ETFs) through its FinTech brand Truth.Fi.
The planned ETFs will include a unique basket of cryptocurrencies featuring Bitcoin, Cronos, and other crypto assets.
Following the news, CRO reacted positively, soaring by 28.66% in just 24 hours. Trading volume also spiked, reaching 5 times the 10-day average.
Trump Media has signed a non-binding agreement with Crypto.com to create exchange-traded funds (ETFs) focusing on digital assets and securities. This collaboration will leverage Crypto.com’s infrastructure and services.
The ETFs are expected to include significant digital assets such as Bitcoin (BTC) and Cronos (CRO). They will debut later this year upon receiving regulatory approval.
In addition, Trump Media intends to invest its cash reserves into Truth.Fi Separately Managed Accounts, although concerns about potential conflicts of interest regarding Trump’s involvement in crypto operations have been raised.
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