Cronos Coin (CRO) Price Rises After Announces Collaboration with Truth Social

Bittime - Cronos Coin (CRO) saw a significant price spike after announcing a strategic partnership with Truth Social. Check out the complete review in this article!

This social media platform associated with former US President, Donald Trump, will collaborate with Crypto.com to launch various crypto-based investment products. This includes Bitcoin-related ETFs and ETPs as well as CROs.

Strategic Partnerships That Drive CRO Prices

Source: X (@EleanorTerett)

The announcement of a partnership between Crypto.com and Truth Social on March 24, 2024 immediately had a positive impact on the price of CRO. 

This token reached a local high of $0.115 (around IDR 1,897) before experiencing a slight correction to $0.107 (around IDR 1,766). However, in the last 24 hours, the CRO price still recorded an increase of up to 30.3%.

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This agreement coincides with Crypto.com's financial report which was released on March 19, 2024. Crypto.com CEO, Kris Marszalek, revealed that the company managed to generate revenue of $1.5 billion (around IDR 24.75 trillion) throughout this year, showing solid business growth.

Criticism of the Return of 70 Billion CRO Tokens

Behind the euphoria of the CRO price increase, the crypto community actually voiced concerns about Crypto.com's decision. The CEX platform brought back 70 billion CRO tokens. 

This move is seen as controversial because previously, in 2021, Crypto.com had burned the same number of tokens to increase the value of assets in circulation.

On March 2, 2024, Cronos submitted a proposal to reprint 70 billion CRO in order to establish a "Cronos Strategic Reserve". This proposal was approved with more than 62% voting in favor. 

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However, this decision caused debate in the community, because it was thought to reduce the value of CRO in circulation and cause market instability.

Well-known on-chain analyst, ZackXBT, also criticized Crypto.com for this token reprint plan. He considered that Crypto.com had too much voting power in making this decision. 

Some community members also argue that companies should use their earnings to buy back CRO from the market, rather than minting new tokens that could depress asset prices.

FAQ

1. What is Cronos Coin (CRO)?

Cronos Coin (CRO) is the native token of the Cronos network developed by Crypto.com. These tokens are used in various transactions in the Crypto.com ecosystem and have a variety of uses, including payments, staking, and transaction fees.

2. Why is CRO price going up?

CRO prices saw a rise following the announcement of a partnership between Crypto.com and Truth Social to launch crypto-based investment products such as Bitcoin and CRO-linked ETFs and ETPs.

3. Is CRO still worth investing in?

Investment decisions always depend on each investor's personal analysis and risk tolerance. While the price of CRO is experiencing a spike, factors such as token re-minting can affect its long-term value.

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Reference 

Eleanor Terrett Akun X Eleanor Terrett, accessed March 26, 2025.

Coinspeaker, CRO Rallied 30% After Partnership with Truth Social But Slammed for Bringing 70B Tokens, accessed March 26, 2025.

Author: Y