Cronos: 228m CRO burned, the reserve releases more

The Cronos community has resolved that 228 million CRO be burned and that the revenue of two new products flow into buybacks in future. At the same time, the network’s Strategic Reserve releases around 1.167 billion CRO every month. The two figures belong together, and it is precisely that ratio which decides whether a burn shifts anything in the supply at all.

Cronos (CRO) is the token of the Cronos blockchain, which comes out of the orbit of the trading platform Crypto.com. The token pays transaction fees on the network, is staked, and serves as a discount instrument in the provider’s products. Holding it means depending on two things: demand, and the quantity that newly joins it.

The CRO price this week: 0.0538 euros and 12.2 percent down in seven days

CRO cost 0.0538 euros on Friday, October 9, at around 6 in the morning, according to CoinGecko. Over seven days that is 12.2 percent less, over 24 hours 3.5 percent less. Over 30 days the loss is markedly smaller at 3.0 percent, so the decline has concentrated into this week. With a market capitalisation of around 2.66 billion euros, CRO sits at rank 39 on CoinGecko.

The weekly high was 0.0622 euros on Monday, October 5, at around 1 in the afternoon. The weekly low followed three days later: 0.0527 euros on Thursday, October 8, at around 8 in the evening. From the high to the current level that is a discount of roughly 13.6 percent, from the low a recovery of a good 2 percent. For context: the all-time high of 0.793 euros dates from November 23, 2021.