Cronos (CRO) has experienced substantial gains this week, fueled by positive market sentiment and Crypto.com’s latest roadmap release. The native token for the Cronos blockchain, CRO, soared by double digits, drawing significant attention from investors and the broader cryptocurrency community. This week’s surge comes from a bullish market environment and a major announcement from Cronos Labs. Investors are now watching closely, speculating whether CRO’s price rally could push it toward a new all-time high (ATH).
Cronos Price Surge 30% In the Past 24-hours: Is ATH Imminent?
Cronos Price has surged by over 100% within six days, reflecting a broader cryptocurrency upswing amid the U.S. election results. Crypto.com, the platform powering the Cronos blockchain and CRO token, has unveiled an ambitious roadmap targeting significant service expansions. In Q4 2024, the company plans to launch its Level Up program and Cronos AI tools to engage users and enhance features.
A web-based app will simplify access, while debit card services will reach Latin America, the Middle East, and Africa by Q2 2025. Throughout 2025, Crypto.com aims to improve accessibility, adding stock trading, banking services, and expanded card offerings. This roadmap underscores Crypto.com’s commitment to evolving in the dynamic financial technology landscape.
The recent surge in the CRO price has seen a gain of a remarkable 30% within the past 24 hours, pushing its price to $0.1696. This significant price movement marks a promising recovery for Cronos, which hit a low of $0.1189 during the same period. Investors are taking note as this price gain positions Cronos among the top-performing cryptocurrencies for the day.
This price rally raises questions about Cronos’s potential to approach its all-time high of $0.9698, achieved nearly two years ago on November 24, 2021. Despite being over 80% below its record high, the renewed upward trend hints at possible continued growth.
Cronos Labs Enhances Partnership with Google Cloud
Cronos Labs has announced a strategic partnership with Google Cloud, solidifying Google as its primary cloud provider. This collaboration bolsters Cronos’ presence in the blockchain sector, supporting technological advancement and community growth. By leveraging Google Cloud’s infrastructure, Cronos Labs is set to enhance its ecosystem’s reliability and scalability, fostering increased innovation within the blockchain industry.
The technical indicator for the best altcoin signals a significant bullish momentum. The Relative Strength Index (RSI) hit 89, an extremely overbought level, far above the standard 70 threshold. The Chaikin Money Flow (CMF) indicator, currently at 0.40, reinforces the bullish outlook.
Frequently Asked Questions (FAQs)
The price surge was driven by positive market sentiment and Crypto.com’s roadmap.
Crypto.com plans to expand services, including new features, stock trading, and global debit card availability.
This partnership aims to enhance Cronos’ blockchain scalability and reliability.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/cronos-price-soars-30-will-momentum-lead-to-ath/
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