228 Million CRO Up for Burning: the Cronos Vote Ends on Saturday

Cronos (CRO), the token of the Cronos blockchain, cost 0.0590 euros on Thursday, October 1, according to CoinGecko. That is 9.6 percent more than seven days ago and 17.6 percent more than a month ago. With a market capitalization of around 2.94 billion euros, CRO ranks 38th on CoinGecko.

The reason to look at Cronos now is a deadline. On Saturday, October 3, at around 02:00 UTC, voting closes on two proposals meant to change the supply of CRO. One would burn 228 million CRO; the other would commit developer firm Cronos Labs to putting all revenue from two products into buybacks. Both votes have been running on-chain since September 19 and can be counted publicly.

The CRO price this week: a 9.6 percent gain with a pullback

The weekly low was 0.0532 euros on Wednesday, September 24, at around 12:00, according to CoinGecko's hourly data. On Tuesday, September 29, CRO hit its weekly high of 0.0632 euros at around 14:00 and then eased again. From that high to the current level there is a discount of roughly 6.6 percent.

A longer view helps place that. The all-time high of 0.793 euros dates from November 2021. Today's price sits more than 90 percent below it. This week's move is therefore a recovery inside a long downtrend, and not yet a trend reversal that could be documented.