- Cronos (CRO) price fell 5.5% according to CoinMarketCap.
- The number of CRO holders has increased gradually over the past week.
- The gradual increase in the number of CRO holders could be a sign that investors prefer value over hype when it comes to the project.
The price of the crypto formerly known as Crypto.com, Cronos (CRO), fell 5.5% according to CoinMarketCap. The price of the crypto is currently sitting around $0.3816 at the time of writing. The 24-hour price movement appears to be an extension of the trend seen in the price of CRO over the past 7 days, which saw it fall 8.64% over the past week.
The price of Cronos has also weakened against Bitcoin (BTC), currently standing at 0.000009927 BTC, and has weakened against Ethereum (ETH), its value being around 0, 000134 ETH.
The 24-hour trading volume of CRO also fell a bit, by 12.59%, as only $57,212,729 of CRO was traded in the last day.
The drop in the price of CRO has, of course, decreased the total market capitalization of Cronos. However, CRO’s market cap still places it at 18th on CoinMarketCap’s list of largest cryptocurrency market caps.
Many in the crypto community were concerned about Crypto.com’s overspending on its marketing campaign earlier this year. However, these concerns may not be the driving force behind CRO’s price drop, given that the entire cryptocurrency market is in some kind of retracement when looking at the bigger picture in recent years. larger time frames.
Despite the drop in price, the number of CRO holders has increased daily over the past week, with 254 new holders being added to the list of CRO holders in the past 24 hours. The gradual increase in the number of CRO holders could be a sign that investors are prioritizing value over hype when it comes to the project. This could signal a bullish outlook from medium to long-term investors for CRO.