Bitcoin has moved back over $113,000 after a volatile stretch. The asset fell below $109,000 earlier this week, its lowest level in nearly two months, before buyers pushed it higher. The rebound follows heavy swings around Jerome Powell’s comments on interest rates, which briefly lifted BTC past $117,000 before it lost momentum.
With today’s recovery, bitcoin’s market cap is above $2.25 trillion, and its dominance over altcoins remains at more than 56%. The bounce has also given room for several large-cap tokens to post strong gains.
CRO Price Reaches Three-Year High
Cronos has been the standout. The token surged 138% in the past week and 55% in the last 24 hours, touching $0.38, its highest level since April 2022. It now trades near $0.36 with a daily turnover of $3.7 billion. Market capitalization is about $11.5 billion.
The move comes after the announcement of a partnership between Trump Media and Crypto.com. The deal includes token purchases and credit lines with Yorkville Acquisition Corp. According to market reports, Trump Media could gain exposure to around 20% of CRO’s supply.
CRO had been sliding for much of the year and only started to recover in late July. The partnership news accelerated that shift, helping the token erase year-long losses within days.
On-Chain Activity Rises
Network data shows a sharp pickup in activity. On August 27, more than 2,700 active sending addresses were recorded, compared with a recent average of around 500. That marks the busiest day in nearly a year, according to CryptoQuant.
Source: CryptoQuant
The number of transfers went up, too, with more than 15,000 CRO transactions in one day. Normally, there are between 500 and 2,000 transactions. The change indicates greater transfers between wallets and exchanges, which matches increased speculation and some profit-taking.
Source: CryptoQuant
Futures Market Breaks Records
CRO’s derivatives market is also showing record activity. Open interest jumped 85% in a single day to $229 million, the highest ever recorded, Coinglass data shows. By comparison, previous peaks were around $120 million.
The rise underlines strong appetite for leveraged exposure. It also raises the potential for sharp swings if positions unwind. With both spot trading and futures volume expanding rapidly, CRO is now in its most active phase since 2021.
