- Cronos is extending its positive aspects on Thursday after rallying almost 8% the day gone by.
- Cronos invitations its group to vote for its bold proposal to ascertain a Cronos ETF and Cronos Strategic Reserve.
- Santiment information reveals that sure whales are accumulating CRO tokens.
Cronos (CRO) value extends its positive aspects by 7%, buying and selling round $0.086 on Thursday after rallying almost 8% the day gone by. Cronos invitations its group to vote for its bold proposal to ascertain Cronos ETF and Cronos Strategic Reserve. Furthermore, Santiment information reveals that sure whales accrued CRO tokens in the course of the current value dip.
Cronos ETF and Cronos Strategic Reserve
Cronos introduced voting on the Cronos POS governance discussion board for its proposal on Monday.
“The group is invited to vote on a daring plan to revive Cronos’ Golden Age, with a large funding allotted to assist Cronos Roadmap (incl. its ETF) and America’s ambition to change into the World Capital of crypto,” mentioned Cronos on its X publish.
Cronos continued, “To assist this purpose, the Cronos Strategic Reserve can be established through a reversal of the February 2021 token burn. The Strategic Reserve can be topic to a brand new 5-year lockup on prime of the 5-year lockup that has already handed since CRO’s unique issuance on Ethereum, bringing the whole vesting interval to 10 years.”
In 2021, 70 billion CRO had been burnt in one among historical past’s most important burn transactions.
“Beneath right now’s proposal, an equal variety of tokens can be re-issued on Cronos POS right into a Cronos Strategic Reserve escrow pockets, bringing the whole provide again to the preliminary provide of 100 billion CRO. The Cronos Strategic Reserve escrow pockets will function below strict management mechanisms,” mentioned CRO in its weblog publish.
Immediately, an bold proposal was revealed for voting on the Cronos POS governance discussion board.
The group is invited to vote on a daring plan to revive Cronos' Golden Age, with a large funding allotted to assist Cronos Roadmap (incl. its ETF) and America’s ambition to change into… pic.twitter.com/7i06DnTx7T— Cronos (@cronos_chain) March 3, 2025
Cronos value motion favor bulls because it breaks above the descending trendline
Cronos value retested and located assist round its weekly degree at $0.085 on Tuesday and rallied 7.75% the subsequent day, breaking above its descending trendline. On the time of writing on Thursday, it continues to commerce greater by 7%, round $0.086.
If CRO continues its upward momentum, it might lengthen the rally by 27% from its present ranges to retest its weekly resistance at $0.108.
The Relative Power Index (RSI) reads 49, pointing upward in the direction of its impartial degree of fifty, indicating gentle bullish momentum. Furthermore, the Transferring Common Convergence Divergence (MACD) indicator additionally confirmed a bullish crossover on Sunday, suggesting an upward development.
CRO/USDT each day chart
Santiment’s Provide Distribution metric reveals that the whale wallets holding CRO tokens between 100,000 to 1 million and 10 million to 100 million have elevated from February 25 to Thursday. In the meantime, 1 million to 10 million wallets have decreased throughout the identical interval, with an general web accumulation of 800 million CRO tokens.
This growth reveals that the second cohort of whales might have fallen prey to the capitulation occasion. In distinction, the primary set of wallets seized the chance and accrued CRO at a reduction in the course of the current value dip, bolstering traders’ confidence in Cronos.
CRO Provide distribution chart. Supply: Santiment
Nonetheless, the bullish thesis can be invalidated if CRO closes beneath its weekly assist at $0.085; it will lengthen the decline to retest its subsequent assist degree at $0.067.
