Cronos Attempts Uptrend Amid Deep Downtrend

Cronos has spent much of the year in decline, but it's currently attempting to prove that its recent uptrend can stick. A token climbing out of a long downtrend typically requires more than one green week to convince the market.

The CRO price surged by 7% in 24 hours, trading near $0.0661 according to Coinglass, with a market cap of $3.28 billion and 49.73 billion tokens circulating out of a maximum supply of 100 billion. The derivatives-led trading volume is $23.08 million in futures against $17.46 million in spot.

The rally may be a bounce inside a deeper downtrend, as Coinglass performance data shows CRO up 11.90% over seven days and 17.04% over 90 days, yet it remains 27% lower year to date and 69.56% lower over the past year.