Cronos Blockchain Considers Restoring CRO Token Supply

Strengthening ETF Efforts

The proposal by the L1 blockchain comes as Crypto.com plans to apply for an exchange-traded fund (ETF) for CRO, targeting growing institutional interest in crypto.

Source: X (@hanbonjovi)

The burned tokens, valued at $6.3 billion, would also be placed in a strategic reserve wallet with a five-year vesting schedule, subject to approval.

Community Reactions

The burn previously reduced the supply from 100 billion to 30 billion CRO ahead of Cronos’ mainnet launch. Still, the proposal has faced criticism from many in the community, with only a few being optimistic about the supply restoration.

Crypto.com initially launched Monaco Coin (MCO) for its Visa Card program before rebranding to CRO for the Cronos Chain. CRO has a circulating supply of 27.3 billion tokens and is presently valued at $2.4 billion.