Crypto.com's native token, Cronos (CRO), saw a significant increase in value yesterday (Monday).

Crypto.com's native token, Cronos (CRO), saw a significant increase in value yesterday (Monday). The token's price surged by 27.76% within a 24-hour period.

Cronos (CRO), the native token of cryptocurrency platform Crypto.com, has seen a significant surge in value, increasing by 27.76% in the past 24 hours.

As of 08:05 ET on Tuesday, Cronos is trading at $0.1065, with a 24-hour trading volume of $326.47 million. The cryptocurrency's market capitalization has grown to $2.8 billion.

CRO Price Analysis: H1 Chart

The H1 chart of CROUSD shows a strong bullish momentum that has driven a significant upward price surge. The buyers managed to push the price to the 0.1200 level, where sellers reacted and formed a rejection pattern.

This rejection at the 0.1200 level has led to the formation of a bearish inside bar pattern, which is a low-volatility price action pattern that occurs when the current candle is fully enclosed by the previous candle.

Following the inside bar pattern, two consecutive bearish candles have decreased the price further, and the coin is currently trading around the 0.1065 level.

Buyers may want to wait for a bullish reversal pattern to re-enter long positions, while intraday traders may prefer to scalp and capture some pips as the market trends remain bearish.

Crypto.com to Provide Technology for ETFs

Earlier this month, Trump Media and Technology Group announced plans to develop exchange-traded funds (ETFs) in partnership with Crypto.com and Yorkville America.

The ETFs will feature a mix of digital and traditional assets, with one ETF including a basket of cryptocurrencies, such as Crypto.com’s CRO token.

Crypto.com will contribute its US trust company, Crypto.com Custody Trust Company, to handle the backend technology and custody services. The company will also provide the cryptocurrency for these ETFs.

Investors will be able to purchase the funds via Foris Capital US LLC, Crypto.com’s broker-dealer. The company’s holding subsidiary, DeFi Technologies, Inc., will offer the funds in Europe.