Cronos (CRO-USD), the token backed by Crypto.com, exploded higher this week after Trump Media and Technology Group unveiled a $6.4 billion CRO Strategy alongside Crypto.com and Yorkville Acquisition. The coin surged more than 40% in just two days, blasting past $0.23 for the first time since May 2022.
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Traders piled in quickly. CRO initially jumped 25% to $0.20 on Tuesday before extending gains to levels not seen in over two years. Market cap raced past $7.8 billion, pushing Cronos into the top 30 digital assets by size.
Trump Media Adds Billions in CRO Holdings
The rally drew even more attention when Crypto.com CEO Kris Marszalek revealed that Trump Media’s CRO holdings now total $1.5 billion. Trump Media’s own stock (DJT) jumped 5% on the same news, amplifying the sense that this wasn’t just another crypto pump.
For supporters, the scale of the partnership signals a new chapter where political influence and crypto adoption intersect. For skeptics, it raises uncomfortable questions about whether a token’s fortunes should hinge on who is sitting in the White House.
CRO Is Still Far from Its Peak
Despite the surge, CRO is still nowhere near its glory days. The token’s all-time high of $0.96 in late 2021 is still far above today’s $0.23. In fact, CRO would need to climb nearly 300% from here just to get back to that peak. Back then, the launch of the Cronos mainnet drove a surge of retail enthusiasm before the broader crypto market collapsed.
Even at today’s highs, long-term holders know there’s a long climb ahead to reclaim those peaks. The current rally underscores how much political and corporate alliances can reignite old momentum, even for tokens that had been written off.
Community Splits over Political Ties
Reactions online were divided. Some hailed the deal as the moment Cronos earns its spot among the most important crypto assets. One poster claimed CRO “deserves a permanent spot in the top 10.”
Others pointed to the project’s history of broken promises, including the cancellation of a planned 70 billion token burn earlier this year. And for those wary of political influence in markets, the partnership only heightened their concerns. “Great, so now my crypto portfolio is dependent on what some politician says or does,” one trader complained.
Cronos now sits at the crossroads of politics, crypto markets, and investor sentiment. A partnership worth billions has the potential to bring liquidity and visibility. At the same time, the token is more exposed than ever to the swings of political fortune.
At the time of writing, CRO is sitting at $0.2703.
