Why has Cronos crashed?

I've been closely following the cryptocurrency market, and Cronos has recently taken a significant tumble. Could you possibly shed some light on the reasons behind this crash? It seems like just a few weeks ago, Cronos was riding high on a wave of optimism, but now it's in freefall. What exactly caused this sharp reversal? Was it a fundamental shift in the market, or was it something more specific to Cronos itself? I'm particularly interested in understanding the technical factors that might have contributed to this crash, as well as any regulatory developments or news events that might have played a role. Could you please provide a comprehensive breakdown of the key factors at play?