{"id":113804,"date":"2021-02-22T12:18:52","date_gmt":"2021-02-22T12:18:52","guid":{"rendered":"https:\/\/precoinnews.com\/?p=113804"},"modified":"2021-02-22T12:18:52","modified_gmt":"2021-02-22T12:18:52","slug":"cro-price-surges-following-an-announcement-of-coin-burn","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/cro-price-surges-following-an-announcement-of-coin-burn\/","title":{"rendered":"CRO Price Surges Following An Announcement of Coin Burn"},"content":{"rendered":"<h2>Crypto Coin Burn<\/h2>\n<p>The largest coin burn in history will begin the current trading day to achieve a complete decentralized network at Mainnet launch. As per the official announcement, 70 billion CRO coins out of 100 billion will be burned as per the schedule mentioned below:<\/p>\n<ul>\n<li>59.6 billion coin burn on 22 Feb 2021<\/li>\n<\/ul>\n<ul>\n<li>10.4 billion will be burned on a monthly basis. As it is locked in a smart contract and will be burned as it gets unlocked.<\/li>\n<\/ul>\n<p>To reach a 100% circulation supply of 30 billion, the remaining 5 billion out of 5.9 billion CRO coins will be allocated to mainnet block rewards for chain validators and delegators who keep the network secured.<\/p>\n<p>Finally, the allocation of 0.9 billion CRO to Particle B for Chain ecosystem development.<\/p>\n<p>Also Read: <strong>Is Bitcoin Giving an Opportunity for the Altcoins to Gain Traction?<\/strong><\/p>\n<h3>CRO Price Analysis<\/h3>\n<p>The CRO price began the previous trading day with a plunge from $0.1519 to $0.1316 followed by a small yet quick recovery. The price trend continued within the same area until the above announcement.<\/p>\n<p>With the coin burn reports, the CRO price jumped like a giant and gained nearly 100 percent within a couple of hours. The price initiated its surge at $0.1301 that jumped straight to $0.2602 in just 5 to 6 hours.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/coinpedia.org\/wp-content\/uploads\/2021\/02\/cro-price-surge.webp\" alt=\"cro price surge\" class=\"wp-image-93192\"\/><\/p>\n<p>At the time of writing, the crypto coin price is $0.2670 with a jump of nearly 89.40 % in the last 24 hours. The token also smashed its All-Time High(ATH) at $0.2469 just a moment before the press time.<\/p>\n<p>Technical Specifications<\/p>\n<ul>\n<li>The resistance levels are pretty hard to determine as the token is trading at its highest levels.<\/li>\n<li>The support levels stand at $0.1339<\/li>\n<li>The technical indicators for CRO price point out towards a \u2018strong buy\u2019\u00a0<\/li>\n<\/ul>\n<p>Also Read: <strong>XRP Price Leaped Sharply, What Is the Game-Plan Put-Out by Whales?<\/strong><\/p>\n<\/p>\n<p>Source: <a href=\"https:\/\/coinpedia.org\/news\/cro-price-surge-with-news-of-coin-burn\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto Coin Burn The largest coin burn<\/p>\n","protected":false},"author":3,"featured_media":113803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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