Over the past 3 days, the cumulative increase of $CRO has exceeded 100%, reaching a historic high not seen in 3 years.

This significant surge is a result of the Trump Media Tech Group's announcement of the CRO Strategy. Yorkville Acquisition Corp, Trump Media & Technology Group, and Crypto.com announced on August 26th that the three parties have signed a definitive agreement to merge and form Trump Media Group CRO Strategy, Inc., a digital asset treasury company focused on acquiring the Cronos ecosystem-native cryptocurrency (CRO). The expected composition of the digital asset treasury includes: $1 billion of CRO, $200 million in cash, $220 million in cash exercise mandatory convertible bonds, and a $5 billion equity line of credit provided by Yorkville affiliate YA II PN, Ltd. This structure will make it the first and largest publicly traded CRO treasury company.

According to cronoscan data, Cronos Chain's on-chain activity for $CRO has also surged. In the past 24 hours, Cronos Chain's on-chain transaction volume reached 386,767 transactions, a 29.53% increase; total transaction fees were 24,325 CRO, a 31.26% increase; and the average transaction fee was 0.0164 CRO, a 31.73% increase.

According to CoinGecko's data, in the last 24 hours, the largest CEX in terms of $CRO trading volume was Upbit, accounting for 32.72%.

Furthermore, activities on the Cronos Chain are primarily driven by Chinese players, reflecting an interesting situation—favorable news related to the U.S. President, Koreans buying coins, and Chinese users engaging on the chain.

Although the surge in $CRO is a result of an unexpected positive development in an "old chain new hype" scenario, we can still keep an eye on market trends. BlockBeats has compiled information about the Cronos ($CRO) chain for you.

How to Trade on the Cronos Chain?

You can trade $CRO on CEXs such as OKX, Coinbase, Gate, and then withdraw $CRO to the Cronos network.

To trade related tokens on the Cronos Chain, using OKX Wallet is a convenient option. Just copy the token's contract address into OKX Wallet's exchange function, and the corresponding currency will be identified automatically.

Using dexscreener, you can view the K-line chart of tokens on the Cronos Chain.

Assets on the Cronos Chain

PUUSH

Today, the most discussed token in the Chinese player community is $CDOG, which at its peak was close to a $1.5 million market cap. However, it rose quickly and fell just as fast, currently holding a market cap of around $200,000.

This ticker seems to resonate well with Chinese players' preferences because whether on OKX's chain or the earlier inscription, what can most directly attract Chinese players are "cats and dogs."

Therefore, one of the reasons why players chose the launchpad puush.fun for $CDOG might be that Cronos's official promotion team interacted with the launchpad on August 13:

This launchpad also has a token, $PUUSH, which has been around for over a year, with a peak market cap of less than $5 million. Before the surge of $CRO, $PUUSH had a market cap of only $400,000, and now, the market cap is about $2.3 million.

Although this launchpad has attracted widespread attention from the Chinese, its relationship with Crypto.com is not very close. The following few projects to be introduced are all listed on the Crypto.com exchange, which is more suitable as a standard to judge whether an asset is closely related to Crypto.com.

LION

Loaded Lions is an NFT series officially launched by Crypto.com in 2021, currently with a floor price of $1,500.

This NFT series features the $LION token, which has surged by approximately 50% in the past 3 days, nearing an all-time high.

Although the NFT series was launched early, the token was released in March of this year, so it is not considered an old coin. In late April of this year, Crypto.com officially launched its second NFT land series, directly promoting an airdrop of $LION.

This token is listed on the Crypto.com Exchange.

VVS Finance

VVS Finance is the largest DEX on the Cronos chain, and the $VVS token has been around since 2021 but has not seen much action. In the past 3 days, following the $CRO market trend, it has also experienced a 100% surge. Currently, the market cap of $VVS is approximately $330 million.

This token is listed on the Crypto.com Exchange.

Capybara

A Tap to Earn game on Telegram, but the $BARA token is issued on the Cronos chain. This project has collaborations with Crypto.com, the Cronos chain, and Loaded Lions' Mane City game.

$BARA was launched in November last year and has seen an approximately 80% surge in the past 3 days, with a current market cap of around $167 million.

This token is listed on the Crypto.com Exchange.

CorgiAI

CorgiAI went live in June 2023, being the first AI project on the Cronos chain and incubated in the Cronos Accelerator program.

In simple terms, this is a text-to-image generator that specializes in producing cartoon images with a dog theme and supports seamless NFT minting on the Cronos chain.

The $CORGIAI token has seen a roughly 60% gain in the past 3 days, with a current market value of around $67 million.

The token is listed on the Crypto.com exchange.

Conclusion

In fact, looking at the Cronos chain token rankings on dexscreener, Cronos chain assets have all seen a significant increase in value due to the positive announcement of the Trump Media & Technology Group's CRO strategy. Rather than expecting a meme coin market like OKX's X Layer on Cronos chain, it's more accurate to say that the price of Crypto.com's native assets has moved from the time of the announcement of the positive news to now.

Therefore, a more rational approach may be to keep an eye on the chain while also being aware of the risk of the short-term price already having been inflated.

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