Cronos Price Surges 5% After Truth Social-Crypto.com Partnership Announcement
Cronos price increased by 5% on Oct. 28, outperforming Bitcoin and Ethereum. This surge followed Trump Media's announcement of a partnership with Crypto.com to introduce prediction markets on its platform, Truth Social.
- Truth Social will allow users to trade prediction contracts in various sectors through a product called Truth Predict.
- Crypto.com CEO highlighted the collaboration as an alignment of social engagement with blockchain-based market tools.
- The feature will soon enter beta testing, enabling users to convert platform-earned Truth Gems into Cronos tokens for participation.
Cronos is nearing a $6 billion market cap due to collaborations aimed at enhancing its DeFi presence, including a recent partnership with Morpho Labs to boost liquidity and lending capabilities.
- On Oct. 24, Crypto.com applied for a US national trust bank charter to enhance asset custody and settlement services.
- Cronos trades at $0.1598, up 5.38% in 24 hours, with a market cap of $5.76 billion. Trading volume surged 249% to $73.16 million.
The price rally has also spurred interest in early-stage projects like Pepe Node, which allows users to own virtual meme coin mining rigs and earn high staking rewards.
The Pepe Node presale has raised over $1.97 million out of its $2.14 million target, with tokens priced at $0.0010.