- ZachXBT accuses Cronos of secretly restoring 70B burned tokens.
- CRO rallies after teaming up with Truth Media.
- CRO hits $0.1200, holding support at $0.1031 amid controversy.
Cronos’s (CRO’s) value increased by 50% during its first 48 hours despite strong fraud claims against the Cronos team members. Recent price gains of CRO come unexpectedly after crypto analyst ZachXBT said Cronos members engaged in dishonest business methods.
On X ZachXBT revealed that Cronos secretly restored 70 billion tokens which they publicly consumed in 2021. He argues that this action against community trust allows the team to manage a larger stake of the CRO supply than others.
Cronos Breaks Trading Range After ETF News
The crypto community now debates the Cronos team transparency because of its recent public claims. The executive behind these allegations starts his public information disclosure at a moment when CRO stands as the leading subject of public investigation after its partnership with Truth Media.
According to published data, Truth Media formed a business alliance with Crypto.com to produce exchange-traded fund (ETF) and exchange-traded product (ETP) offerings. According to the announced partnership agreement with Crypto.com the company would join other digital assets scheduled for evaluation by regulators to enter ETF plans.
CRO Faces Key Resistance and Support Levels
CRO started trading up after the announcement reached $0.1200 on the second day from its previous price of $0.0807. The quick price growth released CRO from its trading range that blocked its market action since March 2022.
After its fast rise CRO dipped back but stayed within a support area near $0.1031 which used to serve as price resistance. The TradingView market data shows that CRO maintains an upward trend because trading activity stays high. Market experts predict more token value growth depends on how investors react and if ZachXBT’s misconceptions affect the market.
ZachXBT finds the Truth Media and Crypto.com collaboration questionable because the company could have partnered with leading exchanges like Coinbase and Kraken instead of choosing a new platform. People now focus on the expanding controversy around this major debate.
The crypto sector needs to monitor the upcoming weeks because they will show how Cronos and CRO tokens handle recent controversy and determine what effect the accusations from ZachXBT will have. Everyone in business and finance will keep an eye on how the situation changes.
