What happened?
Cronos has been gaining attention due to recent protocol upgrades and increased liquidity, causing discussions among traders. In July, Cronos implemented a POS Chain v6 upgrade with features like Cosmos SDK integration and RocksDB optimization. This led to improved transaction efficiency and a rise in DeFi participation, with total value locked reaching $710 million.
Who does this affect?
This affects stakeholders in the Cronos ecosystem, including traders, developers, and investors. The network upgrades benefit developers with enhanced tools and better performance, while traders see increased activity and potential price movements. Investors are impacted by the potential for institutional inflow from ETF developments and the rise in DeFi activities.
Why does this matter?
The upgrades and potential ETF speculation have significantly boosted CRO’s market performance, evidenced by a 76% price increase over the past 30 days. The improvements in transaction efficiency and increased DeFi activities contribute to growing market interest and momentum during the altcoin season. These factors, alongside technical indicators, suggest the potential for further price increases, potentially approaching $0.20.