cronos crypto news and development

Cronos (CRO) has experienced significant developments and news recently, contributing to its price rally. Here's a summary of the key events:

1. Partnership with Trump Media and Technology Group: The partnership between Trump Media and Technology Group and Crypto.com has been a significant catalyst for CRO's rally. The collaboration focuses on developing exchange-traded funds (ETFs) and aims to create "inventive funds" with firms emphasizing rapid growth, technological innovation, and strengthening the U.S. economy. This partnership has led to a 30% increase in CRO's price over the last 24 hours, reaching $0.10, and a trading volume explosion, indicating heightened investor interest.
2. Mainnet Upgrade: The upcoming mainnet upgrade of CRO's zkEVM v26 has created anticipation among investors, leading to a 17% gain in CRO's price as it approaches the upgrade's launch date. This upgrade is expected to enhance the platform's functionality and interoperability, potentially attracting more users and increasing the token's utility.
3. Reissuance Proposal: Cronos' approval of a governance proposal to reissue 70 billion CRO tokens, valued at $5.6 billion, has restored the total supply to its original cap of 100 billion. This move is part of Crypto.com's strategy to support ecosystem growth and file for a CRO ETF, tapping into institutional interest.
4. Prepaid Crypto Card Service: Cronos' launch of a prepaid crypto card service allows users to withdraw funds directly to a Crypto.com card, facilitating the use of digital assets for everyday transactions. This service is a reflection of growing adoption of crypto for day-to-day use and could increase the demand for CRO as a transactional currency.
5. ETF Launch Plans: Crypto.com has set plans to launch a CRO ETF by the fourth quarter of 2025, prioritizing this product as part of its 2025 roadmap. This initiative is expected to further increase institutional exposure to CRO and could attract more investors to the token.
6. Market Sentiment and Price Movement: The overall positive market sentiment, fueled by the Trump Media and Technology Group's involvement and the potential for favorable crypto regulations under President Trump, has contributed to CRO's price surge. The token broke out of its consolidation phase, reaching an intraday high of $0.114, with a market cap of $2.26 billion and daily trading volume skyrocketing.

These developments highlight Cronos' strategic moves to enhance its platform, expand its utility, and increase institutional and retail interest, contributing to its recent price rally and future growth potential.