CRO (Cronos) rose 3.50% in 24 hours

Gate News Bot news, on September 3rd, according to CoinMarketCap, as of the time of writing, CRO (Cronos) is currently at 0.27 USD, having risen by 3.50% in the last 24 hours, with a high of 0.39 USD and a low of 0.25 USD. The current market capitalization is approximately 9.113 billion USD, an increase of 308 million USD compared to yesterday.

Cronos is a decentralized open-source public chain focused on providing scalable infrastructure solutions for DeFi, NFTs, and the Metaverse. The Cronos chain consists of three blockchain networks: Cronos zkEVM (Layer 2 zkEVM chain), Cronos EVM (Layer 1 EVM chain), and Cronos POS (Layer 0 Cosmos SDK chain). Cronos aims to provide high-performance, low-cost, and secure blockchain infrastructure for the next generation of Web3 applications and AI innovations.

Important recent news about CRO:

1️⃣ Trump Media Group Deploys CRO Treasury Strategy Trump Media & Technology Group announced the establishment of a new company to deploy CRO treasury strategies. Funding sources are expected to reach $6.42 billion, and this move could significantly increase the demand and market attention for CRO. All founding shareholders agreed to lock their shares for one year, and then release them gradually over a three-year plan.

2️⃣ TRUTH platform introduces CRO token reward system Trump Media plans to launch a rewards system on the TRUTH SOCIAL and TRUTH+ platforms, utilizing the Cronos digital wallet infrastructure and using CRO as a utility token. This initiative is expected to expand the application scenarios of CRO and attract more users to participate in the Cronos ecosystem.

3️⃣ Cronos chain activity has significantly increased With the recent strategic announcement, the activity on the Cronos chain has also risen. In the past 24 hours, the trading volume on the Cronos chain reached 386,767 transactions, a surge of 29.53%; the total transaction fees amounted to 24,325 CRO, a surge of 31.26%; the average transaction fee was 0.0164 CRO, a surge of 31.73%. These figures reflect the growing interest and participation of users in the Cronos network.

From a technical perspective, the price of CRO has seen a significant pump in the short term, with a rise of 3.50% in the last 24 hours. However, considering the previous substantial pump, the current price may face some correction pressure. Investors should closely monitor subsequent developments to assess potential volatility risks.

This message is not intended as investment advice, and investors should be aware of the risks of market volatility.