Cronos (CRO) Price Soars 30% After Trump Media & Technology Group (TMTG) Announces ETF Partnership

Cronos (CRO), the native token of Crypto.com, has seen a sharp price increase of 30% over the past 24 hours, reaching $0.10 according to CoinGecko data.

Cronos (CRO), the native token of Crypto.com, saw a 30% price surge in the past 24 hours, reaching $0.10 on Monday. This follows an announcement that Trump Media and Technology Group (TMTG) has signed a non-binding agreement to partner with Crypto.com.

The partnership will see them develop exchange-traded funds (ETFs) and other products. Together they hope to align their strategy with President Trump’s economic agenda.

Any launch would be subject to regulatory approval. The companies plan to focus on rolling out products across U.S., European, and Asian markets.

These funds will provide investors with exposure to Bitcoin, Cronos, and other sectors including energy. The planned products will be launched under the “Truth.Fi” brand.

The partnership will concentrate on companies that are focused on rapid growth, technological innovation, and strengthening the U.S. economy, according to TMTG CEO Devin Nunes.

The announcement has sparked a rush of trading activity. CRO’s trading volume jumped nearly six times from $21 million to $126 million by Monday evening as traders moved to capitalize on the news.

Daily transactions have more than doubled from roughly 40,000 to over 82,000, according to data from CronoScan. This shows a clear increase in network activity following the announcement.

This deal comes at an interesting time for Crypto.com. The Singapore-based firm faced SEC scrutiny just five months ago when the agency filed notice that it intended to sue Crypto.com for operating an unregistered securities exchange.

Crypto.com rejected these allegations and countered with a lawsuit of its own. However, the company dropped its suit in December, around the same time its CEO met with then-President-elect Trump.

Cronos zkEVM mainnet upgrade is scheduled for 26th March and will feature several new additions to the network.

This upgrade will have a brief 1-2 hour downtime and will add smart account single sign-on (SSO), making it easier for users to log in with Google, Apple ID, and Mobile options.

The upgrade will also lay groundwork for a zero-knowledge gateway. This will set the stage for faster zk-chains interoperability, which could enhance network performance.

From a technical perspective, CRO has formed some strong patterns. The token has bounced off the $0.0715 support level multiple times since August last year, forming what some analysts call a quadruple-bottom pattern.

The price has also moved above its 50-day moving average. The Relative Strength Index (RSI), a momentum indicator, has been trending upward.

Some analysts believe the CRO price could continue rising to around $0.133, which would represent a 30% increase from current levels. This price target coincides with the 61.8% Fibonacci retracement level, a commonly watched technical indicator.

The Cronos DeFi ecosystem appears to be stabilizing as well. The total value locked (TVL) in Cronos DeFi protocols has increased to $424 million from this month’s low of $330 million.

However, not all indicators are equally bullish. While daily timeframe technical indicators suggest continued upward movement, weekly indicators remain mixed, with the MACD (Moving Average Convergence Divergence) still below zero.