The Cronos blockchain, linked to Crypto.com, has announced plans to bring back 70 billion CRO coins that were permanently removed from circulation in 2021. This move will boost the total supply to 100 billion coins and involves transferring the reintroduced tokens to a reserve wallet intended for strategic use. These coins will be locked for ten years, with a slow monthly release planned.
What Led to the Return of CRO Coins?
Initially, in 2021, Cronos made the decision to permanently burn 70 billion CRO coins. The new proposal aims to reintroduce these coins to support the ecosystem’s expansion.
How Did the Market React to This News?
The announcement sparked a sharp rise in CRO’s price, with current data showing a 25% increase, pushing it above $0.093. Investors appear to appreciate the long-term strategy, viewing it positively despite the increase in overall supply.
The Cronos development team clarified that the reintroduced coins will not be made available all at once. Instead, they will be released in a controlled manner to mitigate any potential market disruptions.
– The proposal increases the CRO total supply to 100 billion coins.
– The 70 billion coins will have a ten-year lock-up with gradual monthly releases.
– Following the announcement, CRO’s price surged by 25%, indicating positive market sentiment.
The strategic approach taken by Cronos aims to ensure long-term sustainability while addressing market concerns. This calculated release plan may pave the way for enhanced stability and continued growth within the Cronos ecosystem.
