CRONOS gathered 10 % after Crypto.com announced a partnership with Trump Media to create a new ETFS altcoin. Today’s announcement is a binding agreement that depends on previous relations.
CRO is the original cryptocurrency of Cronos Blockchain, developed by Crypto.com. It is a interest icon within the environmental system of Crypto.com, which facilitates various functions such as registration, transactions fees, and access to advantages through stock exchange services.
Last month, Crypto.com announced a non -binding partnership with Trump Media. This has seen the market interest in the distinctive symbol, but also attracted harsh criticism.
Specifically, the company release 70 billion CRO codes that were “constantly burned” in 2021. The two companies have just announced binding An agreement, but it caused smaller gains:
This new agreement between Crypto.com and Trump Media seems very similar to the other. The two companies that are committed to the launch of a new ETFS based on the unspecified digital assets and “securities with a focus in America”, specifically energy companies.
Crypto.com expressed his interest in CRO ETF, making it a potential target for this partnership.
“Crypto.com is the leading platform for the encryption and traditional finance bridge, and this agreement is a testimony to those capabilities. This partnership gives the global distribution of Trump Media Etfs supported by the Crypto.com platform. It is a victory for the Trump media, Crypto.com, CRO, and Yorkville America Digital,”
At the surface level, SEC’s approval may seem the largest obstacle facing Trump and Crypto.com media. The committee has been immersed in applications since Trump took office, but the investment funds circulated in Altcoin have not yet been approved.
A report issued yesterday claimed that many encryption companies have received concrete organizational breakthroughs since the Trump installation donation.
Several companies (Incurred Crypto.com (SEC’s investigations, while others, such as Galaxy Digital, have closed the committee’s approval of the main commercial projects.
Of course, Trump’s presidency promised that there is a comprehensive wave of crying regulations, so it may be not fair to uniquely uniquely uniquely companies.
Moreover, ETF approval is a big deal, and even the most friendly SEC may not give it easily. Whether the market believes that SEC will quickly work on this product does not affect the actual result.
As the ETF analysts are identified, the entire market is now saturated. There are 72 active proposals for the new ALTCOIN ETFS, but Bitcoin controls 90 % of the Crypto ETF market.
If CRO ETF wins approval, it may compete with a huge wave of new arrivals for small pieces of market share in BTC. Investors may not see this as a possible option.
In general, Trump and Crypto.com doubles their partnership, and may have significant effects in the long run. None of the above factors (or a mixture of several) may explain this result.
Disintegration
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