Key Takeaways
- Trump Media has partnered with Crypto.com to integrate prediction markets into Truth Social.
- The announcement led to a 10% surge in Crypto.com’s native token, CRO.
- This is the latest in a series of collaborations between Trump Media and Crypto.com.
Truth Social to Integrate Prediction Markets via Crypto.com Partnership
Crypto.com’s native token, Cronos (CRO), experienced a 10% price increase following the announcement of a new partnership between Trump Media and the cryptocurrency exchange. This collaboration aims to introduce prediction markets to the Truth Social platform.
The partnership will leverage Crypto.com’s licensed derivatives exchange, Derivatives North America (CDNA), to bring this new functionality to Truth Social. This marks a significant step in integrating decentralized prediction market concepts into mainstream social media.
This development is not the first collaboration between the two entities, highlighting a growing relationship focused on crypto-related ventures.
Impact on CRO and Past Collaborations
The announcement caused CRO’s value to jump from $0.155 to $0.166 within a short period before stabilizing around $0.157. Analysts suggest that for a sustained upward trend, CRO needs to surpass the $0.22 resistance level.
This recent price movement is the third instance where CRO has seen a boost associated with Donald Trump’s media ventures. Previously, a March announcement regarding joint development of Exchange-Traded Funds (ETFs) saw CRO prices climb by 30%.
An even more substantial impact was observed in August following a reported $6.42 billion deal to establish a CRO treasury company, further underscoring the Trump effect on the token’s valuation.
Truth Predict Feature Set to Launch
Truth Social is poised to become the first social media platform to offer prediction markets, according to the official announcement. The new feature, tentatively named Truth Predict, is expected to roll out in 2026.
This feature will allow users to trade contracts based on real-world events, including elections, sports outcomes, and economic indicators. The announcement suggests that contracts may be purchasable using CRO, potentially utilizing the Cronos blockchain for on-chain settlement, similar to platforms like Polymarket, although this remains unconfirmed.
Expert Summary
The partnership between Trump Media and Crypto.com to bring prediction markets to Truth Social has positively impacted CRO’s price. This collaboration builds on previous successful ventures and positions Truth Social as an innovator in social media functionality. The integration of prediction markets, potentially settling on the Cronos blockchain, could attract new users to both the platform and the cryptocurrency.