Chronos excluded Crow Crypto from its 3 -month downtrend after Chronos launched a proposal for the purpose of establishing a Cronos Strategic Reserve.
According to March 3X PostLayer 1 blockchain chronos associated with Crypto Exchange Crypto.com is considering the proposal to install the Cronos Strategic Reserve Wallet, which will be made by re -releasing 70 billion CRO tokens burnt in 2021.
As one of the largest in Crypto history, the Burning event reduced the supply in the history of crypto to 100 billion to 30 billion CRO tokens to support decentralization efforts beyond the menet launch of Chronos.
Through the Chronos Reserve, which will be subject to a new 5-year vested period, the project will fund its roadmap, which includes a plan to carry forward the Spot ETF launch by the end of 2025.
While the voting for the proposal will end on March 17, it has already done more than 99.76% of the votes in favor of the move, which will restore the total token supply to its original 100 billion CROs.
Chronos (CRO) today held a rally for an Intrade High of $ 0.101, which marks its weekly growth of at least 46%, while its market cap press was sitting on $ 2.5 billion as time. Its daily trading volume also touches 773% in a period of over $ 164 million.
Another major reason for publicity around the tokens was that Chronos Strategic Reserve would support “America’s ambition to become the world capital of Crypto”.
The statement attracted the attention of the traders, especially the overall crypto market already growing, a recent announcement of a strategic crypto reserve for the nation by US President Donald Trump, which would include a basket of cryptocurrency such as bitcoin and atherium.
https://twitter.com/kris/status/18963596664442938599
However, the proposal has also increased Criticism Many community members on X, who believe that increased supply can weaken the price.
Crow price analysis
Technical indicators suggest a recession approach to the CRO in the short term.
On the 1-day CRO/USDT price chart, the CRO has broken over the trendline descending, which has been formed from December 17, as it is leading to a recession speed, after forming a head and shoulder pattern.
Despite this, the 200-day moving average remains above the 50-day mA, indicating that the recent price action has been weak and this recession pressure is still strong, showing very little interest to buyers.
Meanwhile, the superstrand indicator is in red, and the relative power index sits on a neutral 42, putting the CRO in a difficult position. These indicators suggest that the speed is not strong enough to reverse the trend of prevalent recession.
At the press time, the CRO was exchanging hands at $ 0.084 per coin, while its social spirit was positive per satisfaction data.
However, the price action may return to the trend of its recession in the coming days if the current propaganda fade.
Disclosure: This article does not represent investment advice. The materials and materials painted on this page are only for educational purposes.
