Cronos (CRO) Token Price Surges by 27.76% Following Announcement of New Exchange-Traded Funds (ETFs)

The market capitalization of CRO has grown to $2.8 billion. Trading volume during this period was $326.47 million, reflecting heightened investor interest.

Crypto.com’s native token, Cronos (CRO), saw a significant increase in value yesterday (Monday), surging by 27.76% within a 24-hour period.

This rise followed an announcement from Trump Media and Technology Group, unveiling plans to develop exchange-traded funds (ETFs) in collaboration with Crypto.com.

The market capitalization of CRO has grown to $2.8 billion, and the trading volume during this period was $326.47 million, showcasing heightened investor interest. The fully diluted valuation (FDV) of CRO is $3.16 billion.

Currently, the circulating supply of CRO is 26.57 billion tokens, out of a total supply of 30 billion.

CROUSD Rejection at 0.1200 Level

The CROUSD H1 chart reveals a significant upward price surge driven by strong bullish momentum, leading to a rejection at the 0.1200 level. This rejection formed a bearish inside bar pattern, followed by two consecutive bearish candles. At present, the coin is trading around 0.1065.

Buyers might wish to wait for a bullish reversal pattern to re-enter long positions. Alternatively, intraday traders can seek to scalp and capture some pips as the market exhibits bearish bias.

Crypto.com to Provide Technology for ETFs

Trump Media & Technology Group is joining forces with Yorkville America to launch a series of exchange-traded funds (ETFs) supported by Crypto.com, according to a report by Finance Magnates.

These ETFs will combine digital and traditional assets, with one ETF focusing specifically on cryptocurrencies, including Crypto.com’s CRO token.

Crypto.com will contribute its backend technology and custody services through its US trust company, Crypto.com Custody Trust Company. Furthermore, the company will supply the cryptocurrency for these ETFs, and investors will be able to purchase the funds via Foris Capital US LLC, Crypto.com’s broker-dealer.