Mind-Blowing Token Shenanigans: You Won’t Believe What Cronos Is Up To! 🚀

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Ah, Cronos, that illustrious digital currency, sits in the metaphorical corner looking rather grumpy following a rather weighty community proposal—one that would undo a numeric bonfire from 2021 which, in a fit of burning passion, incinerated a staggering 70 billion tokens. Obviously, things have been lit (and not in a good way). 🔥

Last Sunday’s thrilling tally showed that Cronos (CRO), formerly and perhaps a bit lamely known as Crypto.com Coin, is currently residing blissfully in the land of negative numbers—a place where few rational beings wish to wander. Check it out, if you dare! 👀

Interestingly enough, while Cronos wallows in its tomato-red hue, relatable data from those experts in public squares shows a meteoric rise in the volume of tokens being handled on its decentralized exchange (DEX) protocols. This curious phenomenon appears courtesy of VVS Finance, which decided to throw a rather obnoxious party that caused trading volume to absolutely spike. 📈

According to the elusive yet ever-optimistic DeFi Llama, weekly volume erupted by a jaw-dropping 140%, soaring to an unbelievable $123.2 million. Brace yourself—the cumulative total is now $13 billion, a number so high it could give even the most seasoned mathematician a nosebleed! Most of this volume, naturally, hails from VVS Finance, the kingpin of DEX networks on Cronos, which was responsible for a whopping $92 million in transactions over the week. 🎉

Thanks to such delightful developments, the VVS token has decided to strut its stuff, jumping up by double digits. Adorable, isn’t it?

Added to this peculiar potpourri of phenomena, some alarm bells are ringing as the not-so-innocent Cronos community appears poised to slap down a freshly minted proposal, which they fear might lead to even more dilution than a poorly made cocktail. 🍹

The grand ambition behind the proposal is to re-issue those burned 70 billion tokens, which would unfairly push the total token population into the dizzy heights of 100 billion. Yikes! These gleaming new tokens would find their cozy little home in the Cronos Strategic Reserve, hiding behind a new five-year lockup—because what’s a little bit of token drama without a touch of mystery? 🕵️‍♂️

Now, of course, our beloved developers could then ponder over the prospect of issuing even more tokens in future escapades. Oh, joy! 🤑

1/ On March 3, 2025, unveiled a proposal to reverse its 2021 burn of 70B $CRO, creating a “Cronos Strategic Reserve.” The goal? Fund ETFs, boost Cronos, & support U.S. crypto dominance. Bold vision—or a betrayal of holders? A critical thread. 🧵

2/ The…

— DarkSide (@Dark_Sydz) March 3, 2025

In a shocking twist worthy of a soap opera, the voting data is revealing to us that the outcome will be as close as two pieces of toast in a toaster. With 50.92% of optimistic voters on board with the proposal, and 48.56% advocating for a complete rejection, it appears everyone is holding their breath until March 17. 🤯

For the proposal to glide smoothly along, its supporters need to charm a sufficient quorum into compliance. Alas, quorum is currently cruising at 23.50%—rather shy of the required 33.40%. They’ll need more than just good vibes to get there! 🚀

Cronos price technical analysis

As the daily chart reveals, the CRO price found its way down to a picturesque $0.0700 this month—like a lost tourist finding a map in a foreign land! This was a previously notable level back in the balmy months of November and August last year.

The grand rebound has occurred as the two lines of the falling wedge pattern decided to have an intimate moment at their convergence, while the Relative Strength Index and MACD indicators collectively sported fancy upward trends. Cheers to optimism!

Thus, if Cronos’s price decides to play nice and saunter above the 50-day moving average at $0.1, we may positively witness more gains, potentially skyrocketing toward that ostentatious key resistance level of $0.1400, the highest peak seen on the date of April 30 last year. What a ride it’s been! 🚴‍♂️

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2025-03-09 20:42