Cronos

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Cronos (CRO) declined in May by another 18%. Bearish momentum seems to be approaching critical levels. On-chain data shows that long-term holders are growing increasingly unwilling to sell at the current low prices. Will they inadvertently trigger a Cronos price rebound? 



Cronos (CRO) has been stuck in a downward trend for three consecutive months. As unrealized losses pile up, investors now appear unwilling to sell. How could this impact CRO price in the coming days? 



Cronos Long-Term Investors Are Holding Firm



As the bearish momentum lingers, long-term investors on the Cronos network now appear to be holding out for future gains. The rising Mean Coin Age is a key indicator of this. 



In simple terms, Mean Coin Age evaluates how long coins in circulation have stayed in their previous wallet addresses.



Between May 8 and June 1, CRO Mean Coin Age increased by 21% from 37.13 to 33.38.



Cronos (CRO) Price Rebound – June 2023 – Mean Coin Age data. Source: Santiment



When Mean Coin Age rises considerably, tokens stay longer in their existing wallet addresses. As seen above, Cronos holders’ investors stave off selling to avoid huge book losses. 



If the trend continues, they could sell off the Cronos market supply and inadvertently trigger a price rebound.



Investors Are Turning to Staking Options



As CRO prices continue to drop, holders now appear to be turning to yield-bearing protocols to mitigate their losses. The chart below shows that CRO holders have staked an additional 5.6 million tokens (0.022% of the total circulating supply) between May 8 and June 1. 



Cronos (CRO) Price Rebound – June 2023. Supply in Smart Contracts – Source: Glassnode



Supply in Smart Contracts tracks the portion of a cryptocurrency’s circulating supply that investors have locked up in staking protocols. When holders lock up tokens, it reduces the volume available to be traded on crypto exchanges. 



If Cronos investors continue to increase their stakes at this rate, the CRO stands a chance to defend the $0.059 resistance. 



CRO Price Prediction: Potential Rebound to $0.07?



Considering the increased staking activity and the long-term holders unwilling to sell, CRO price might rise toward $0.07 in the coming days. IntoTheBlock’s Global In/Out of The Money Around Price (GIOM) data, suggests CRO will face its initial resistance around $0.064.



As highlighted below, 13,000 investors that bought 170 million CRO at an average price of $0.064 could mount a sell-wall.  However, if that resistance level is breached as expected, the price could rise further toward $0.07



Cronos (CRO) Price Prediction – GIOM data. May 2023. Source: IntoTheBlock



​​On the other hand, the bears could invalidate the bullish price prediction if CRO unexpectedly drops below the critical $0.059 support zone.



But, the 2,000 investors that purchased 18.5 million CRO at an average price of $0.0.59 will likely prevent the drop. Although unlikely, CRO could retrace further toward $0.050  if that support level is breached.



        
          
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The post Cronos (CRO) Long-Term Holders at Crossroads: Rebound to $7 Next? appeared first on BeInCrypto.


As the bearish momentum lingers, long-term investors on the Cronos network now appear to be holding out for future gains. 
How could this impact CRO price in the coming days? 
The post Cronos (CRO) Long-Term Holders at Crossroads: Rebound to $7 Next? appeared first on BeInCrypto.


beincrypto.com

Cronos (CRO) Long-Term Holders at Crossroads: Rebound to $7 Next?

Amazon Web Services (AWS), a cloud computing platform and a subsidiary of e-commerce giant Amazon, is partnering with Cronos Labs, the development team behind Cronos Chain; to scale and grow web3 startups through the Cronos Accelerator Program.
Amazon Web Services Partners With Cronos Labs
In a tweet on April 26, Kris Marszalek, the CEO of Crypto.com, acknowledged the partnership saying web3 startups participating in the accelerator program would quickly grow and scale. 

Excited to see Cronos Labs working with AWS on supporting and scaling Web3 startups going through the Cronos Accelerator Program https://t.co/vvtbBxEFmq
— Kris | Crypto.com (@kris) April 26, 2023

Specifically, AWS will help scale and grow projects looking to release solutions in decentralized finance (DeFi), GameFi, SocialFi, and Infrastructure applications. On the other hand, Cronos will make use of the AWS Activate program to assist budding web3 entrepreneurs in building potent projects in the sphere. 

The AWS Activate program for projects, including web3 platforms, to leverage Amazon’s infrastructure. Amazon provides, among others, free tools, support, and resources with up to $100,000 in free Amazon credits.
The objective is to drive blockchain adoption in a setup where web3 startups will gain quick access to AWS resources while receiving expertise from Cronos Labs. 
Cronos Labs is a startup accelerator specializing in DeFi and blockchain games. It is also involved in the building and expansion of the Cronos Chain ecosystem. 
Meanwhile, Cronos is an open-source, proof-of-authority (POA), and interoperable blockchain compatible with the Ethereum Virtual Machine (EVM) and Cosmos ecosystems.
The Cronos Accelerator Program was launched in June 2022 and is backed with $100 million from Cronos Labs Ecosystem Fund to support “ongoing ecosystem development.” 
There are usually between 3-4 cohorts comprising 10 startups every year. Developers go through a 14-week program where they are trained and linked with mentors. 
Ken Timsit, the Cronos Managing Director, said the accelerator assists projects in “almost all areas of their operations,” with each successful project receiving up to $1 million in funding.
Through Cronos Accelerator, we want to enhance the potential of projects that sincerely want to help grow the ecosystem by providing support in almost every area of their operations. In the current climate, it is more important than ever to put our heads down and start building aggressively.
CRO Prices Rally
Following this partnership, CRO, the native currency of the Cronos Chain, is up 15% in the past three days, with buyers building on gains registered on April 26. Notably, CRO prices are above April 2023 highs and appear to break higher as a bullish formation emerges. 

Earlier this week, Google Cloud, an AWS competitor, partnered with more blockchain firms, including Solana Foundation and Aptos, to attract more web3 projects. 

Google Cloud said it was expanding on its Google for Startups Cloud program by adding specific benefits for web3 projects leveraging its rails.



Amazon Web Services (AWS), a cloud computing platform and a subsidiary of e-commerce giant Amazon, is partnering with Cronos Labs, the development team behind Cronos Chain; to scale and grow web3 startups through the Cronos Accelerator Program. Amazon Web Services Partners With Cronos Labs In a t...

bitcoinist.com

Cronos Labs Partners With Amazon Web Services To Scale Web3 Startups, CRO Rallying

The native token of Crypto.com is soaring after unveiling a new partnership with Amazon Web Services.
In an announcement on LinkedIn, Amazon says that it is partnering up with Cronos to support Web3 start-ups, including decentralized finance (DeFi) and infrastructure.

“[Amazon Web Services] is working with Cronos Labs to support the Web3 startups scale and grow through the Cronos Accelerator Program to develop DeFi, GameFi, SocialFi, and Infrastructure applications.” 
News of the collaboration sent Cronos (CRO), which is used to operate Crypto.com’s Cronos Chain, on a rally as it went from its 24-hour low of $0.0677 to a peak of $0.0772, a 14% gain. The token has since retraced and is trading for $0.0731 at time of writing.
According to Cronos, Amazon will be helping startups through the Cronos Accelerator Program, which is a three-month program designed to jumpstart new Web3-focused companies.
 “Excited to be working with [Amazon] to support Web3 startups’ growth through the Cronos Accelerator Program. Let’s accelerate Web3 innovation together!”
The program provides an immediate $30,000 stipend, access to an investing network that features key names within the industry, and up to a $300,000 follow-up investment from Cronos Labs’ $100 million ecosystem fund, according to Cronos’ website.
Other companies that have used Cronos’ Accelerator Program in the past include gaming giant Ubisoft, and the venture capitalist branches of crypto exchange platforms Huobi and OKX.
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The post Cronos (CRO) Rallies After Revealing Partnership With Amazon Web Services appeared first on The Daily Hodl.


The native token of Crypto.com is soaring after unveiling a new partnership with Amazon Web Services. In an announcement on LinkedIn, Amazon says that it is partnering up with Cronos to support Web3 start-ups, including decentralized finance (DeFi) and infrastructure. “[Amazon Web Services] is wo...

dailyhodl.com

Cronos (CRO) Rallies After Revealing Partnership With Amazon Web Services

Amazon Web Services (AWS) – a cloud computing platform provided by the retail giant – collaborated with the Web3 startup that focuses on DeFi and blockchain games – Cronos Labs. 
CRO – the native token of the ecosystem – climbed by 13% shortly after the announcement.
A Breath of Fresh Air for CRO
AWS disclosed on LinkedIn that it has teamed up with Cronos Labs to aid the Web3 sector, boost blockchain technology adoption, and develop DeFi, GameFi, SocialFi, and Infrastructure applications.
The blockchain startup shared the partnership on its Twitter account, saying the Web3 growth will be supported via the Cronos Accelerator Program.

Excited to be working with @awscloud to support Web3 startups’ growth through the Cronos Accelerator Program 
Let’s accelerate Web3 innovation together!https://t.co/HlT03r04VL
— Cronos (@cronos_chain) April 26, 2023

CRO – the native token of CRO Protocol Labs (also known as Crypto.com) – soared simultaneously after the disclosure. It shot up to over $0.075 at one point, or 13% more than the valuation 24 hours ago.
Despite the recent price increase, the coin has been on a massive downfall for the past year, losing more than 81% of its value. 
Amazon’s NFT Efforts
Several reports have indicated that the world’s largest online retailer could launch an NFT marketplace soon. The venue, dubbed “Amazon NFT Marketplace” or “Amazon Digital Marketplace,” would offer 15 collections initially available only to US clients. The potential move should not be considered a surprise since CEO Andy Jassy said in 2022 that the company could sell such digital art in the future. 
“You know, I expect that NFTs will continue to grow very significantly,” he added back then.
Contrary to his prediction, last year’s crypto market crash led to a diminished interest in digital collectibles. NFT sales tumbled to a 16-month low following the FTX demise in November.
The collapse of Silicon Valley Bank (SVB) in March this year added more fuel to the fire, dropping the NFT trading volume by over 50%.
Crypto proponents have long desired to see a company from the scope of Amazon accepting cryptocurrencies, such as bitcoin, as a payment method: a move that could significantly accelerate the adoption of the leading digital asset. 
Some rumors in the summer of 2021 hinted that the organization intends to do so. However, an Amazon spokesperson dismissed the speculation:
“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon.”
CEO Jassy reiterated that position a year later, saying Amazon has no intention to embrace crypto as a means of payment. He also admitted to not holding any BTC. 
The post CRO Spikes 13% Following a Partnership Between Amazon and Cronos appeared first on CryptoPotato.

CRO suprassed $0.07 hours after AWS teamed up with Cronos Labs.

cryptopotato.com

Cronos price	$0.059563
Low - High 24H	$0.059164 - $0.059635
Market cap	$1.56B
Volume 24H	$3.88M
All time high	$0.965407 -93.83% November 24th 2021
All time low	$0.01212 391.80% February 8th 2019
Genesis date	N/A

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