TL;DR
- CRO’s price rallied 138% weekly and 55% daily, reaching $0.36, its highest level since 2022.
- On-chain activity spiked, with 2,700+ active addresses and 15,000 transfers recorded in one day.
- Futures open interest hit $187M, surpassing previous peaks, showing record leveraged speculation in CRO.
CRO Price Hits Multi-Year Peak
Cronos (CRO) has broken out with one of its largest moves in years. The token is up more than 138% in a week and 55% in the past 24 hours, trading at $0.36 after it peaked at $0.38 earlier today. The rally takes CRO to its highest level in over three years.
Market data shows a capitalization of $11.52 billion and daily turnover of $3.71 billion, with trading volume up 166% in one day. The rally follows news of the recently announced partnership between Trump Media and Crypto.com.
Consequently, the deal includes token purchases, credit lines with Yorkville Acquisition Corp., and broader coverage tied to the Trump brand. The news brought CRO into the spotlight, attracting both retail and institutional traders.
CRO had been under pressure for much of the year, trading in a downtrend until late July. A slow recovery started in early August, but the latest announcement accelerated the move. Within days, the token reversed its year-long losses and pushed sharply higher.
Network Activity Surges
On-chain activity rose alongside the rally. Data from CryptoQuant shows active sending addresses climbing above 2,700 on August 27, the highest level in almost a year. Daily averages had been closer to 500 before the spike.
Meanwhile, the transfer count also increased. More than 15,000 transactions were recorded in a single day, compared with a usual range of 500 to 2,000. The rise points to heavy movement of CRO across exchanges and wallets, consistent with speculative trading and profit-taking.
Record Futures Market Positioning
CRO futures activity has also hit new highs. Open interest jumped 64% in one day, reaching $187.43 million, the largest figure ever recorded for CRO derivatives.
During past cycles, open interest peaked near $120 million. Current levels show a sharp rise in leveraged trading, adding to the volatility around CRO. With both spot and futures markets active, the token has entered its most intense trading phase since 2021.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
