Cronos rises as a key vote continues, VVS DEX volume spikes

Cronos is in red after the Community proposal to annul the large token Sagoreva, which was in 2021. She burned 70 billion tokens.

On the last check of Sunday, Cronos (Insert) – Previously known as CRIPTO.com coins is red. Look down.

The third party data comes to act in his decentralized exchange protocols such as VVS finance jumped.

Toward Defi Llama, The weekly scope increased by 140% to $ 123.2 million, bringing cumulatively a total of 13 billion dollars. Most of these volumes was from VVs finance, the largest DEX network on Cronos, which has been handling $ 92 million in the last seven days.

This growth explains why VVS token jumped with double digits in the last few days.

Second, there are signs that Cronos community will refuse a recently discovered proposal in which they believe will lead to more dilutions.

Their goal is to issue again now 70 billion Tokens, which will bring overall tokens in circulation to 100 billion. These new tokens will be assigned Cronos Strategic Reservewhich will be subject to a new 5-year conclusion.

Cronos aims to use these funds to grow a network, including investment in ETFS supported by CRO.

However, users broke the move, noting that it would lead to more dilutions because more tokens are added. It also means that developers can inspect more token issuations in the future.

Voting data showing that the outcome of the voting will be close. 50.92% of voters supported a new proposal, while 48.56% rejected it. Much can change before the voting period ends 17. Marta.

In order for the proposal to continue, the proponents must win with enough of the quorum. The quorum is now 23.50%, against the required 33.40%.

CRONONE TECHNICAL ANALYSIS PRICE

The daily shows that the CRO price of the bottom to 0.0700 USD this month. This was notable level in November and August last year.

The recommendation occurred like two drop-down wedge lines near its estuary levels. Also, the relative power index and MACD indicator pointed out.

Therefore, more Cronos price prices will be confirmed if it rises above the 50-day movement of $ 0.1. Such a move will lead to more profits, potentially on the key resistance to the key to 0.1700 USD, the highest momentum 30 April.