Crypto.com’s native token, Cronos (CRO), saw a significant increase in value yesterday (Monday). The token’s price surged by 27.76% within a 24-hour period.

This rise followed an announcement from Trump Media and Technology Group. The company revealed plans to develop exchange-traded funds (ETFs) in collaboration with Crypto.com.

CRO Trading Volume Surges to $326M

The market capitalization of CRO has grown to $2.8 billion. Trading volume during this period was $326.47 million, reflecting heightened investor interest. The fully diluted valuation (FDV) of CRO stands at $3.16 billion.

Currently, the circulating supply of CRO is 26.57 billion tokens, out of a total supply of 30 billion.

CROUSD Rejection at 0.1200 Level

The CROUSD H1 chart indicates a significant upward price surge driven by strong bullish momentum, with a rejection near the 0.1200 level. This led to a bearish inside bar pattern, followed by two consecutive bearish candles. As of now, the coin is trading around 0.1065.

Buyers may consider waiting for a bullish reversal pattern to re-enter long positions. Meanwhile, intraday traders may look to scalp and capture some pips as the market remains bearish.

Crypto.com to Provide Technology for ETFs

Crypto.com has teamed up with Trump Media & Technology Group and Yorkville America to support a series of TMTG-branded exchange-traded funds (ETFs), as reported by Finance Magnates.

These ETFs will feature both digital and traditional assets, with one ETF including a basket of cryptocurrencies, such as Crypto.com’s CRO token.

Crypto.com will handle the backend technology and custody services through its US trust company, Crypto.com Custody Trust Company. Additionally, the company will supply the cryptocurrency for these ETFs. Investors will be able to purchase the funds via Foris Capital US LLC, Crypto.com’s broker-dealer.