TLDR
- Trump Media to establish CRO Strategy with $6.42B treasury through Crypto.com partnership
- CRO price jumped nearly 28% in 24 hours, breaking above $0.20
- Trump Media will become the largest CRO holder, controlling nearly 19% of total supply
- Partnership includes plans to integrate CRO into Truth Social platform
- Technical indicators show strong bullish signals with $0.22 as immediate resistance
The cryptocurrency Cronos (CRO) has experienced a dramatic price surge following the announcement of a major partnership with Trump Media and Technology Group. The token’s value increased by nearly 28% in a 24-hour period, pushing it above the $0.20 mark for the first time since December 2024. This price movement comes after news that Trump Media plans to acquire a substantial amount of CRO tokens and integrate the cryptocurrency into its Truth Social platform.
Trump Media and Technology Group, which owns former President Trump’s Truth Social platform, has entered into a definitive agreement with cryptocurrency exchange Crypto.com and blank check company Yorkville Acquisition. The three entities will jointly establish Trump Media Group CRO Strategy, a digital asset treasury company focused on acquiring Cronos (CRO).
The newly formed entity will be majority-owned by Trump Media, Crypto.com, and Yorkville. According to the announcement, Trump Media Group CRO Strategy aims to build a treasury of at least $6.42 billion.
This treasury will be funded through multiple sources, including $1 billion in CRO tokens, $420 million in cash and warrants, plus a $5 billion credit line from a Yorkville affiliate. This capital injection would make CRO Strategy the “first and largest publicly traded CRO treasury company,” according to the companies involved.
As part of the business combination, Yorkville will apply to have its Class A ordinary shares trade on Nasdaq under the symbol MCGA.
Strategic Validator Node
Following the completion of the business combination, Trump Media Group CRO Strategy plans to allocate “substantially all of the company’s cash reserves” to acquire CRO. Unlike traditional non-productive holdings, the company emphasized its focus on yield-generating assets.
The strategy includes establishing and operating a validator node on the Cronos blockchain network. This specialized participant in the proof-of-stake network will allow direct participation in network security and governance while generating staking rewards.
These staking rewards will be reinvested to compound CRO holdings and offset operational costs. According to the announcement, “The validator will be established and maintained by a crypto-native team with a deep understanding of the Cronos ecosystem.”
Market Impact and Trading Activity
The partnership has had an immediate and significant impact on CRO’s market performance. The token topped the day’s gainers with an almost 30% move and experienced a volume jump of more than 1,060% to $551 million.
On-chain metrics support this surge. According to Cronoscan, CRO active addresses spiked to 20,465 on August 22, reaching the highest level in over a year. This suggests renewed retail and DeFi activity on the Cronos chain.
Trump Media’s purchase makes it the largest CRO holder in the world, locking up nearly 19% of the total supply. Combined with its earlier $105 million treasury purchase, the company now controls almost 7 billion CRO coins.
ETF speculation is also contributing to the price movement. The SEC has delayed its decision on Trump Media’s proposed “Crypto Blue Chip ETF” (with 5% CRO exposure) until October 8. Meanwhile, Canary Capital’s Staked CRO ETF filing remains under review.
The technical indicators for CRO currently show strong bullish signals. The token has broken through its 200-day EMA at $0.113 and reclaimed the 23.6% Fibonacci retracement at $0.161, before consolidating around $0.198.
On TradingView, the Relative Strength Index (RSI) is near 74, which signals strength but is approaching overbought territory. The Moving Average Convergence Divergence (MACD) has crossed into positive territory, while moving averages across all major timeframes show “Strong Buy” signals.
Market analysts have identified $0.22 as the immediate resistance level, with the next Fibonacci level at $0.24. Sustained closes above $0.22 could potentially set the stage for a multi-week rally, especially if Trump Media executes its planned Truth Social tokenization roadmap.
The Trump Media partnership has shifted CRO’s narrative from simply being an exchange token to a potential Web3 social media utility coin, aligning with pro-crypto political sentiment and an institutional-grade treasury strategy.
CRO price surged to $0.20 following the announcement of the Trump Media partnership.
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Source: https://blockonomi.com/cronos-cro-price-trump-media-partnership-pushes-token-above-0-20-mark/