Summary
- Chronos (CRO) is reported to have surged by 42% compared to 24 hours ago.
- The establishment of 'Trump Media Group CRO Strategy' and expectations as the world's largest reserve company are cited as the main reasons for the price surge.
- The use of Chronos as the Truth Social platform token is also attracting investor interest.
The strong upward trend of Chronos (CRO) continues.
According to CoinMarketCap on the 27th (local time), as of 6:31 PM, Chronos is trading at $0.2252, up 42% compared to 24 hours ago. On the domestic virtual asset (cryptocurrency) exchanges Upbit and Bithumb, it is also up over 10% from the previous day, trading at the 315 KRW level.
The main driver of this surge is cited as the news that Trump Media Group is establishing the Chronos reserve company 'Trump Media Group CRO Strategy' through a merger. The investment scale is about $6.4 billion, and it is expected to become the world's first and largest Chronos reserve company. In addition, the fact that it will be used as the platform token for the social media service (SNS) Truth Social also contributed to the upward momentum.
Kris Marszalek, CEO of Crypto.com, commented on X (formerly Twitter), "Chronos surged 40% following the news of Trump Media Group's reserve announcement," adding, "The value of Chronos currently held by Trump Media Group has exceeded $1.5 billion."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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