Cronos Explodes 25% on Massive $6.4B Treasury Strategy - $0.33 Target in Sight
Cronos rockets upward as its foundation unveils an aggressive $6.4 billion treasury deployment plan—aiming to boost ecosystem growth and token utility.
Market Momentum Builds
Whales pile in as the proposal signals serious capital commitment, pushing CRO toward its next key resistance level. Trading volume spikes 200% in 24 hours.
The $0.33 Threshold
Analysts eye the psychological barrier as the next major test. Breaking it could trigger another 40% surge—because nothing says 'sound investment' like a number that looks good on a chart.
Treasury Plays: Crypto's New Darling
Projects now flaunt treasury size like Wall Street banks flaunt bonuses—except here, the numbers actually get used instead of just padding executive pockets.
- Cronos Surges 25% as Trump Media Unveils Treasury Plan.
- The technical projections are trending towards $0.33.
- Volume and open interest indicate that investors are demanding Cronos.
Cronos (CRO) price is up following a $6.4 billion treasury offer from TRUMP Media in ties with Crypto.com. The development caused the price of the token to rise past critical chart levels.
Cronos Climbs After New Investment
Cronos (CRO), the native token of the Cronos Chain supported by Crypto.com, increased to its highest point in three years. Trump Media and Technology Group planned a joint Cronos treasury worth $6.4 billion.
The initiative was launched in partnership with Crypto.com and Yorkville Acquisition. CRO spiked on the announcement, surging nearly 25%, to the highest it has been since May 2022. It currently trades at $0.26 as of the time of this writing, according to data from CoinMarketCap.
There was a varied response to the development in the crypto community. The political spotlight was embraced by some. They viewed it as bullish for the ecosystem. But some expressed concern about allowing politics to influence the crypto market.
Cronos Breaks Chart Levels
Looking at the Fibonacci extensions, Cronos pressed through the important retracement fields, leaving former resistance levels behind. It not only reached the 1.618 mark at $0.218, it exceeded it, even taking on the 2.618 mark at $0.27.
The VWAP session is standing at $0.251, and it is indicating that the momentum is bullish. If price eventually closes higher than these levels, the chances of taking it to $0.33 might become more plausible.
Fib. and VAWP. Source: TradingView
MACD Shows a Bullish Signal
Other indicators are also giving positive signs for Cronos. For instance, the MACD achieved a bullish crossover, with its blue line shooting up the signal line. The histogram bars are climbing as well, and this is an indication of increasing demand from big buyers.
In addition, the RSI is above 84, which is technically overbought. Yet, in the event of a massive bullish market, which Cronos is experiencing, the surge may not be over yet.
MACD and RSI. Source: TradingView
Eyes Set on $0.33
The sentiments, as indicated by data from Coinglass, are also positive. The Cronos futures open interest increased by 45% to $147 million. This is a sign of fresh speculation. The price action has finally broken the $0.20 price floor after trading NEAR it for weeks. That was simply a confirmation that demand is back in a big way.
Typically, significant increases in open interest precede sharp price movements. The volume is another indicator why the token is currently surging, as it has jumped 134% to $1.83 billion. Despite the positivity surrounding this token, such extreme increases may also imply the possibility that the market might change trend.
Source: Coinglass
