Crypto.com Chain Token (CRO) Breaks Into the Top-25
Crypto.com Chain Token (CRO), the digital currency native to the new Crypto[dot]com Chain, has seen its price surge by more than 220% in the past week, giving the altcoin a $277 million market cap. This week’s gains saw CRO move up the rankings to become the 25th-largest cryptocurrency, as well as the 23rd-largest constituent in the AltDex 100 Index (ALT100), a benchmark index for the market’s leading cryptocurrencies.
According to a recent press release, “the Crypto[dot]com Chain is a high-performing native blockchain powering Crypto[dot]com Pay, which allows customers to pay for goods and services with cryptocurrency while receiving generous cashback rewards. For merchants, Crypto[dot]com Pay offers the option to get paid in any crypto without being exposed to its inherent volatility and enjoy greatly reduced processing fees and near instant settlement.”
Reviewing the project’s latest announcements, it looks like a few major announcements combined to help drive CRO’s recent gains. The first being the listing of CRO on top exchange platforms including Bittrex and UPbit. As of this writing, the two new exchanges constitute 99.4% of CRO’s total trading volume.
The @cryptocom Chain ($CRO) Token will be listed today on @UPbitExchange! Open-source of @Cryptocom Chain Testnet v0.1 scheduled on Wednesday, March 20th. Read more here – https://t.co/udc2IYExCN pic.twitter.com/9zHqMf9MCV
— Crypto.com (@cryptocom) March 15, 2019
Crypto[dot]com also opened up its Pay platform to more than 400,000 users last week and is planning to open-source the first version of the Chain Testnet this Wednesday.
Given this major run-up, it would not be surprising to see a bit of a pullback from here — as we’ve already started to see in the past few days. CRO is currently down 16% over the last 24 hours, but the uptrend still appears to be intact.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.