Donald Trump provoked the growth of a little-known cryptocurrency Cronos by 1174% per day

Editor’s note: not investment advice!

Cronos (CRO) has skyrocketed in value following the announcement by Trump Media & Technology Group of a cryptocurrency treasury centered on the token. Over the past day, CRO has risen by more than 30% and reached levels not seen in more than eight months.

On Tuesday, CRO topped the list of growth leaders among cryptocurrencies, leaving behind Bitcoin and Ethereum. The token’s trading volume grew by 1174% in 24 hours, indicating strong demand. At the same time, open interest in CRO futures increased by 92%, according to Coinglass.

The growth came on the back of Trump Media’s agreement with Crypto.com to create a company that will buy and hold CROs as part of the treasury strategy. The new entity will be called Trump Media Group CRO Strategy Inc. and will follow the model previously introduced by Сейлор" href="https://noworries.news/biography/majkl-dzh-sejlor/" data-bio-id="3672">Michael Saylor through MicroStrategy.

President Donald Trump is the co-founder and majority owner of Trump Media. In July, the company also filed an application to launch an exchange-traded fund (ETF) that will give investors access to CRO.

As of the time of publication, the price of CRO was $ 0.2071 (31.37% per day). Shares of Trump Media rose 5.28% to $ 18.13 during trading on Tuesday and added another 0.39% after the close. At the same time, their value has dropped by 46% since the beginning of the year.

The No Worries editorial team strongly advises readers not to invest their own money in dubious crypto projects and little-known digital assets!