The price of Cronos (CRO) surged by over 40% due to a deal between Crypto.com and Trump Media. The $6.4 billion partnership attracted attention to CRO.
Deal with Trump Media and Price Surge
Crypto.com has partnered with Trump Media, marking one of the largest transactions between media and crypto exchange. Following the announcement, CRO's price rose by 42%, from $0.16 to $0.28. Technical indicators showed a bullish engulfing candle on the daily chart, indicating increasing buyer interest.
Increase in Network Activity and Market Participation
According to Glassnode data, the number of active addresses on the Cronos blockchain increased to 3,100, the highest concentration since December 2024. This surge in user activity coincided with rising prices and reflects a renewed engagement with the network, supporting demand.
Social Metrics and Technical Outlook
Santiment data indicate a significant increase in social activity, rising to 2.40% during the price ascent. This reflects heightened interest in CRO among communities. However, analysts caution that short-term volatility may arise from speculation. On the 4-hour chart, CRO moved above a symmetrical triangle, signaling potential accumulation.
The Crypto.com and Trump Media deal has led to a substantial price increase for Cronos, increased network activity, and heightened market interest. However, short-term volatility requires caution.
