In a nutshell

• markets reacted to news of a Dubai operational license, which resulted in a 5% gain for Cronos.
• A further upswing is indicated by the positive divergence between CRO price and daily active addresses.
• CRO is attainable at $0.080.

Cronos’ bullish trend was maintained by a 5% increase last week. The number of long-term holders is rising, according to a comprehensive on-chain analysis. How might this affect the cost of CRO?

During the most recent downturn, there was a positive divergence between the CRO price and daily active addresses.

Cronos Did not Lose Traction During the Recent Downswing

Cronos’ bullish trend was maintained by a 5% increase last week. The number of long-term holders is rising, according to a comprehensive on-chain analysis. How might this affect the cost of CRO?

During the most recent downturn, there was a positive divergence between the CRO price and daily active addresses.

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Cronos Did not Lose Traction During the Recent Downswing

Cronos (CRO) is the native cryptocurrency of Cronos Chain, a Crypto.com exchange-developed decentralized, open-source blockchain network. The cryptocurrency markets appeared to react to the announcement that the exchange had obtained a Dubai preparatory license on March 22. This caused the price of CRO to soar by 5%. On-chain metrics suggest that CRO holders may see additional gains in the future.

The Santiment chart’s yellow line depicts how daily active addresses increased in the opposite direction, from 473 to 726, during the recent 13 percent price correction from March 1 to March 20.

When a blockchain network begins to gain traction during a downturn, it typically indicates a coming recovery. As a result, CRO may see additional gains in the coming weeks thanks to this positive divergence.

The growing number of Cronos network long-term holders also backs up the bullish stance.

The number of long-term wallet addresses holding CRO increased by more than 20,000 between February 10 and March 24, as shown in the IntoTheBlock chart below. Short-term traders decreased from 6,430 to 4,770 during the same time period.

A positive sign is a rise in the number of long-term holders. It suggests that stakeholders have increased confidence in the project’s prospects for the future.

This could bring in new investors to the network if Cronos chain continues this trend. In the end, the rising demand might have a positive effect on the cost of CRO.

CRO Price Prediction: Road to $0.1