Cronos surges 17% ahead of zkEVM v26 upgrade and partnership
Cronos (CRYPTO:CRO) experienced a significant price rally, gaining 17% on Tuesday, following a nearly 18% increase the previous day.
The primary catalysts behind this surge include a new partnership between Trump Media Technology Group (TMTG) and Crypto.com, and the upcoming zkEVM v26 mainnet upgrade scheduled for Wednesday.
The partnership with TMTG, which plans to launch cryptocurrency-focused ETFs in 2025, has provided a boost to Cronos.
These ETFs will feature cryptocurrencies like Bitcoin (CRYPTO:BTC) and Cronos, with Crypto.com acting as the official token supplier.
The new offering will also feature tokens that are “Made in America,” adding further interest from investors.
Additionally, the zkEVM v26 upgrade is set to improve the Cronos ecosystem.
The upgrade will introduce Smart Account SSO, enabling users to log in via Google, Apple ID, or email, eliminating the need for seed phrases or private keys.
The update also includes the development of the ZK Gateway, which aims to enhance interoperability between fast ZK-chains.
On the technical front, Cronos has been showing bullish momentum.
It broke past its descending trendline on March 6 and closed above the $0.089 resistance level, leading to a 17.54% rally.
The Relative Strength Index (RSI) indicates strong bullish momentum, though the reading of 71 is approaching the overbought zone.
This suggests that while the price could continue to rise, there may be a potential pullback if the RSI exceeds its overbought threshold.
Additionally, rising open interest in CRO futures supports the ongoing rally, indicating that new money is entering the market.
At the time of reporting, the Cronos (CRO) price was $0.1096.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP’s 16-Day $3 Surge Sparks Hopes of Breaking All-Time Highs
Trump turns on ‘buddy’ Putin over Ukraine, says he’ll slap Russia with sanctions now
Share link:In this post: Trump warned he may hit Russia with new sanctions after fresh missile attacks on civilians. Trump met with Zelenskyy in Rome and called the meeting productive, but gave no full details. Trump offered a peace deal that includes recognizing Crimea as Russian territory, which Zelenskyy rejected.
Trump’s economic and geopolitical failures took center stage at Pope Francis’ funeral
Share link:In this post: Trump’s economic and diplomatic tensions took over the spotlight at Pope Francis’ funeral. Trump met briefly with Zelenskyy, Macron, and Starmer during the service but made little progress. Trump skipped a second meeting with Zelenskyy and left Rome quickly after the Mass.
Elon Musk and Nobel laureates call for investigation into OpenAI’s nonprofit mission
Share link:In this post: Elon Musk called OpenAI restructuring plan the “scam of the century” after experts oppose it. Legal and AI experts have called on Attorneys General of Delaware and California to OpenAI core mission as a non-profit. Concerns about Open AI deviating from its non-profit origins is not limited to Musk.
Trending news
MoreCrypto prices
More
