Cryptocurrency Cronos Surges 18% as ETF Proposal by Trump Media Gains Attention
Cronos's value spiked after a proposed ETF by Trump Media included it among leading cryptocurrencies such as Bitcoin and Ethereum.
Key Insights
- Cronos surged almost 18% to $0.095, outperforming the wider crypto market in the last 24 hours.
- A proposed ETF from Trump Media may include Cronos with a 5% allocation pending SEC approval.
- Despite this recent price rise, Cronos still trails its all-time high of $0.69 set in November 2021.
The Cronos token, the native asset of Crypto.com, jumped significantly by nearly 18% to $0.095 following the announcement of a potential exchange-traded fund (ETF) backed by Trump Media. The proposed fund would track a selection of five cryptocurrencies including Bitcoin, Ethereum, and Solana. If approved by the SEC, Cronos would represent 5% of the fund, marking it as a noteworthy inclusion for institutional investors.
While the recent increase is notable, the CRO token remains far below its previous high of $0.69 from the last major bull market in 2021. Market analysts continue to observe traders reacting positively to the news of enhanced institutional involvement in Cronos’s market.
