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Cronos: As agrees to CZ’s advice, where does CRO stand



Source: Pexels

  • CRO did not see a price rise despite a positive reaction to its proof-of-reserve report
  • Despite this, the coin’s 24-hour address count and seven-day circulation increased joined other exchanges in following CZ’s suggestion that such companies be open with their assets while following the proof-of-reserves model. The Binance CEO had called for open scrutiny after the now-bankrupt exchange, FTX, allegedly engaged in shady deals with users’ funds.

According to Nansen,’s holdings were cumulatively $2.94 billion and had no debts. Details from the crypto insight platform also showed that Bitcoin [BTC] topped the other assets as it formed 31.80% of the total. assets on-chain

Source: Nansen

Read AMBCrypto’s Price Prediction for Cronos 2023-2024

The exchange’s CEO, Kris Marszalek, noted that the assets publicly displayed were only partial. In his tweet, Marszalek communicated that the full audit will be out, and shared with Nansen. However, despite the disclosure,’s exchange token, Cronos [CRO], could not capitalize on the positive reaction it garnered. 

CRO, what’s the adventure on-chain?

Considering its price, CRO lost 13.39% in the last 24 hours. According to CoinMarketCap, the Cronos chain native token had also decreased in volume within the same period, with a 35.40% loss. This implied that the accumulated number of tokens engaged in transactions over the previous day was modest. Interestingly, there was more to see on-chain than the price or volume revealed.

According to Santiment, it seemed that’s openness earned it some trust. This was because the 24-hour active addresses surged despite being at a much lower spot on 8 November. At press time, the active addresses had increased to 1,381. This state implied that unique deposits on the Cronos chain had improved and crowd interaction was at an impressive level.

CRO’s seven-day circulation also increased, rising to 777,000. This implied that a high number of CRO tokens had been used for transactions. Therefore, CRO might begin to attract more investors in the crypto ecosystem soon. 

Cronos active addresses and circulation

Source: Santiment

Involvement is down nevertheless

Despite the resurgence in some parts, it did not translate to increased interest for CRO in the derivatives market. According to Coinglass, the futures open interest had taken a single and double-digit downturn on most exchanges within the last 24 hours. This meant that traders were still wary of the market volatility irrespective of the exchange actions. However, emerging data from the derivatives information portal showed interest had picked up.

Cronos futures interest per derivatives market

Source: Coinglass

Additionally, CRO’s involvement among its peers per moving average had stumbled from its attempt to go higher on 3 November. As of this writing, Glassnode data showed that the NVT signal was 193.76. At this point, it meant that transaction volume was outrunning the network value. In cases like this, the token was signaling a bullish movement. Consequently, CRO’s reversal to the greens was indeed a possibility.

CRO bullish per NVT signal

Source: Glassnode

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Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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