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Cronos (CRO) charges upward with the Tethys upgrade. Cronos (CRO) is set for a bullish phase after upgrading its zkEVM testnet to the significant Tethys release, advancing towards a summer mainnet launch. Utilizing zkSync’s v24, Tethys enhances scalable network development for broad adoption.
🌐 Announcing the successful upgrade of the #Cronos zkEVM Testnet to Tethys. This major release, built on @zksync‘s v24, introduces:
— Cronos (@cronos_chain) May 21, 2024
🌉 A shared bridge to #Ethereum‘s Sepolia Testnet
💸 Cheaper transaction fees
💎 zkCRO as the new gas token
⚙️ VM version 1.5.0 with better… pic.twitter.com/tgzO2AAwji
In collaboration with Matter Labs, Crypto.com, and others, Tethys improves the bridge between Ethereum’s Sepolia Testnet and Cronos zkEVM while lowering transaction fees via validium configuration. Ken Timsit of Cronos Labs emphasized Tethys’s role in cutting costs, enhancing developer tools, and simplifying upgrades. Daniel Lumi of Matter Labs lauded Cronos’s ecosystem as a major ZK Chain use case. Upcoming community quests will increase testnet adoption and feedback, indicating potential growth for CRO.
Key CRO Levels To Watch – May 21
Following the bounce off the $0.0710 support, CROUSD experienced a massive surge to the upside. The surge made no notable retracement until the price hit $0.1850.
From the $0.1850 swing high, a major retracement began. The market kept forming lower highs and lower lows until the demand zone at $0.1250 was reached. Owing to the buying pressure at the $0.1250 demand zone, CROUSD is likely to experience a bullish surge soon.
Cronos Key Levels
Resistance Levels: $0.1390, $0.1610, $0.1850
Support Levels: $0.1250, $0.0960, $0.0710
CRO/USD Metrics
Total Market Capitalization: $2.62T
Cronos Market Capitalization: $3.38B
Cronos Volume: $16.95M
Market Rank: #34
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