PANews reported on September 26th that, according to Cointelegraph, Cronos (CRO), the native cryptocurrency of the Cronos Chain, a subsidiary of the cryptocurrency platform Crypto.com, has faced significant selling pressure since the Trump Media Group launched its CRO strategy last month. On August 26th, after the Trump Media Group announced the establishment of a $6.4 billion Cronos reserve, CRO prices immediately surged 40%. However, according to Coingecko data, the token's price has since continued to decline, nearly erasing all of these gains. On Thursday, CRO prices fell below $0.19, approaching pre-announcement levels. Since the peak of the Trump-fueled rally, Cronos' market capitalization has evaporated by over $6 billion, a drop of nearly 50%, shrinking to $6.6 billion at press time. The token has fallen out of the top 30 crypto assets by market capitalization, currently ranking 33rd.PANews reported on September 26th that, according to Cointelegraph, Cronos (CRO), the native cryptocurrency of the Cronos Chain, a subsidiary of the cryptocurrency platform Crypto.com, has faced significant selling pressure since the Trump Media Group launched its CRO strategy last month. On August 26th, after the Trump Media Group announced the establishment of a $6.4 billion Cronos reserve, CRO prices immediately surged 40%. However, according to Coingecko data, the token's price has since continued to decline, nearly erasing all of these gains. On Thursday, CRO prices fell below $0.19, approaching pre-announcement levels. Since the peak of the Trump-fueled rally, Cronos' market capitalization has evaporated by over $6 billion, a drop of nearly 50%, shrinking to $6.6 billion at press time. The token has fallen out of the top 30 crypto assets by market capitalization, currently ranking 33rd.
After Cronos' stock price peaked after the Trump news, its market value evaporated by more than $6 billion, a drop of nearly 50%.
PANews reported on September 26th that, according to Cointelegraph, Cronos (CRO), the native cryptocurrency of the Cronos Chain, a subsidiary of the cryptocurrency platform Crypto.com, has faced significant selling pressure since the Trump Media Group launched its CRO strategy last month. On August 26th, after the Trump Media Group announced the establishment of a $6.4 billion Cronos reserve, CRO prices immediately surged 40%. However, according to Coingecko data, the token's price has since continued to decline, nearly erasing all of these gains. On Thursday, CRO prices fell below $0.19, approaching pre-announcement levels. Since the peak of the Trump-fueled rally, Cronos' market capitalization has evaporated by over $6 billion, a drop of nearly 50%, shrinking to $6.6 billion at press time. The token has fallen out of the top 30 crypto assets by market capitalization, currently ranking 33rd.
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