Cronos, the native cryptocurrency of the Cronos chain of Crypto.com, has faced significant sale pressure since the launch of the Trump Media Group CRO strategy last month.
On August 26, the Trump Media and Technology Group (TMTG), the operator of social reality and a majority owned by Donald J. Trump that would change trust, a joint of $ 6.4 billion announced Cronos (Cro) Treasury.
The announcement has caused a Immediate 40% rally on CRO’s price. However, since then, the token has continued to refuse, almost erasing the gains as the CRO fell below $ 0.19 on Thursday, approaching pre-announcements, According to in coingecko data.
In the midst of price declines, many in the community have asked the Demand for the Trump -supported token associated with TMTG, while Crypto.com CEO Kris Marszalek has to this day avoid the public addressing the price collapse.
The Cronos Market Cap is pouring $ 6 billion
From more on The rally of the Rally driven by Trump’s news, Cronos lost more than $ 6 billion, or nearly 50% of its market cap, worth $ 6.6 billion in publication.
The token also dropped to the top 30 crypto assets by the market cap, which currently ranked as the 33 largest coins according to market value, According to This coingecko.
Some online commentators have remained hoping for further CRO price action, while some market observers have been taught in the lack of utility and demand of CRO.
“You have to request real change. $ CRO will again fully restore Trump’s pump.
A reddit user Commented“We are rugged, as I expected when that cooperation was revealed,” reflecting the growing doubt among members of the community.
Wider seller?
Some observers in the market are more optimistic about Cronos, which highlights that CRO prices are consistent with a broader sale in crypto markets.
“It’s a blood bath today. The whole market is a tank. Nothing to do with CRO. September is generally like this,” another redditor write On Thursday, commented on the price drop.
The market is actually under pressure last week, with Bitcoin (BTC) Rebellion Below $ 110,000 on Thursday.
The Crypto Fear & Greed Indexa popular tool for measuring general sentiment in the market, Fall Below 30 on Friday – its lowest level since April 2025 – a sign of strong careful and increased fear of investors, as shown on the official index site.
As the community reacted to the CRO refusal remains mixed, Marszalek avoided commenting on the price.
SEC PA to approve $ 6.4 billion CRO purchase
Marszalek brought to X on Tuesday to Post About Cronos supporting the tokenized collateral and stablecoin initiative of the US Commodity Futures Trading Commission.
“We are pleased to support the tokenized collateral and stablecoin initiative and its recommendations for the use of non-cash collateral, including CRO, for regulatory requirements,” Marszalek said.
Related: Crypto.com said report of unspecified user data to leak ‘baseless’
Tweet gathered both negative and positive reactions, with some Highlighting That the US Securities and Exchange Commission has not yet approved the CRO strategy of Trump Media Group CRO.
In the midst of the growing trend of crypto treasury announcements, US regulators have reportedly viewed public companies announcing such initiatives.
The Wall Street Journal reported On Thursday that the SEC and Financial Industry Regulatory Authority contacted more than 200 companies announcing this year’s crypto wealth as part of an investigation of potential violations of policies against the selective sharing of non -public information material.
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