Saad Ullah
Cronos (CRO) soared 37% after announcing plans to reissue 70 billion tokens for a strategic reserve, funding development projects and a potential spot ETF launch by 2025.
Cronos (CRO) to Reissue 70 Billion Tokens for Strategic Reserve
The Cronos (CRO) blockchain, closely linked to Crypto.com, is considering a proposal to create a strategic reserve wallet. This fund aims to support key development initiatives, including the potential launch of a spot ETF by the end of 2025.
According to Crypto.news, the reserve will be established by reissuing 70 billion CRO tokens that were previously burned in 2021.
Cronos (CRO) Reversal: From Burn to Reissue
The original token burn, one of the largest in crypto history, reduced the total supply from 100 billion to 30 billion CRO. This move was intended to support decentralization efforts ahead of the Cronos mainnet launch.
Now, Cronos plans to reintroduce these tokens gradually over five years through a structured vesting plan. The funds will be allocated to drive ecosystem growth, including the creation of a Crypto.com stablecoin and the long-term goal of launching a spot ETF.
Cronos (CRO) Supply Set to Reach 100 Billion Again
While the official vote on the proposal concludes on March 17, it has already received an overwhelming 99.76% approval rate. With such strong backing, the return of CRO's total supply to 100 billion tokens appears inevitable.
Typically, unlocking tokens leads to price declines. However, in this case, CRO's price surged 37% on March 3, briefly surpassing $0.10, fueled by excitement over the strategic reserve and ETF plans.
Cronos (CRO) Price and Trading Volume Soar
At the time of writing, CRO continues its uptrend, gaining 15% in 24 hours to reach $0.085. Trading volume skyrocketed, rising more than sevenfold to $188 million as investor interest surged.
Crypto.com remains a key player in the crypto trading space, offering competitive trading conditions, high liquidity, and a wide range of assets. The exchange also provides crypto-backed loans, further expanding its financial offerings.
With strong community support and ambitious development plans, Cronos (CRO) remains a cryptocurrency to watch in the coming months.
Saad Ullah
