Giant Exchange's Altcoin Historical Approval: Supply to Increase by 200 Percent, Price is Dropping! - Coin Bulletin

In the Cronos ecosystem, the proposal to increase the supply of CRO tokens from 30 billion CRO to 100 billion CRO over 10 years has been approved by the community.

An important vote was concluded in the Cronos ecosystem, which is associated with the cryptocurrency exchange Crypto.com. While the community showed a trend against the change for weeks, a few CRO whales intervened in the last few hours of the vote and turned the result in their favor.

Cronos, at the beginning of the month, proposed to reissue the 70 billion CRO tokens burned in 2021 for the "Strategic Reserve," aiming to bring back the original 100 billion token supply. This plan, valued at approximately $5 billion at the current $0.08 dollar CRO prices, aimed to increase U.S. crypto dominance, finance ecosystem growth, and launch a CRO ETF. When the voting first started, there was a strong reaction from the community, and in the first few days, 86% opposed it.

The voting conducted live between 2-16 March never came close to the required 33.4% approval for the proposal. However, on Monday around noon, a 3.35 billion CRO vote shower changed the scenario positively, reaching the sufficient number and the agreement was accepted.

As of March 10, the plan supported two effective network validators, Starship and Falcon Heavy, but at that time 77.97% were against it and 8.47% were undecided. On Monday, companies such as Electron, Antares, and Minotaur IV also joined, and 3.2 billion CRO voting power was used to vote on the proposal.

According to CoinGecko data, CRO is trading at $0.07 losing 10.2% value in the last 24 hours.