Cronos (CRO) price is down 19% this month. On-chain data suggests that long-term investors are now losing confidence. What is the most likely CRO price prediction for the coming weeks?
On Friday, May 26, Crono (CRO) price dropped to $0.06 for the first time since January 2023. With long-term holders exiting their positions, here’s a data-driven analysis of where CRO prices could go next.
Cronos Long-Term Investors Are Selling
The 18% price drop in May can be attributed to the bearish trading activity among the long-term investors on the Cronos network.
Indicatively, between May 1 and May 26, CRO Mean Coin Age dropped 22% from 45.5 to 35.5. In simple terms, Mean Coin Age evaluates how long CRO coins in circulation have stayed in their current wallet addresses.
When it drops considerably, as seen above, it indicates that most long-term…
