Cronos (CRO): An Introduction
Cronos (or CRO) is the local token of the blockchain platform structured by Crypto.com (also known as CRO Protocol Labs). It is considered to be a firm that offers all-inclusive decentralized finance (DeFi) exchange and application. The consumers are permitted to sell and purchase crypto assets. They can also stake their crypto tokens to earn profits in return. In addition to this, they can additionally collect the entirety of the crypto assets in a single wallet and so on.
Crypto.com was first known as Monaco but rebranded a few years back in 2018. The company plays the role of an all-in-one financial forum that provides services related to crypto trading via an exchange platform. Along with this, it also provides payment services via an application, decentralized finance-related methods, non-fungible tokens (NFTs), and Visa cards. The firm additionally has its separate crypto token called CRO. The respective token is utilized on the company’s blockchain to run its applications.
The CRO token cannot be mined due to its consensus mechanism, protocols, and design. It can be bought on the exchange of Crypto.com. Nonetheless, people living in the United States are restricted from accessing the exchange platform. The establishment of Crypto.com was focused on the vision of ensuring the provision of crypto assets to everyone. In this way, the platform has been making several endeavours to bring more and more people to the sector of cryptocurrency.
For this purpose, the founders considered developing a company that fulfils the trading requirements of businesses, consumers, traders, and investors. They determined that such a company would operate at its best pace if it has its separate blockchain instead of developing a fork of the already present blockchain. The name of the original native currency of the platform was MCO (Monaco). Nevertheless, the platform rebranded to CRO Protocol Labs (Crypto.com) and then it altered the symbol of the coin to CRO.
The crypto token is structured to provide utility-related functions within the blockchain of the platform. Crypto.com’s blockchain is called Crypto.org Chain. It utilizes a proof-of-stake consensus mechanism named Tendermint. At first, nearly 5 billion CRO tokens were allocated to distribute the rewards. Additionally, the exclusive blocks are developed nearly every 5 seconds.
CRO Price Statistics
CRO Price: | $2,009.15 |
CRO Rank: | 38 |
CRO Market Cap: | $2,133,982,892 |
CRO Trading Volume: | $14,711,832 |
CRO 24h High: | $0.0723 |
CRO 24h Low: | $0.06962 |
Difference between Cronos (CRO) and Ethereum (ETH)
There is one similarity between Crypto.com and Ethereum as both platforms are structured with a local token to support a lot of operations throughout their ecosystems. Nonetheless, that is the point where the similarities between these two protocols end and their differences start. First of all, Crypto.com is considered a firm that developed its distinct closed-source blockchain to offer many decentralized financial facilities via one platform and provider.
On the other hand, in the case of Ethereum, everyone is permitted to build upon the platform. Moreover, anyone can view the programming on the network as well as suggest suitable modifications or develop their unique products. Secondly, the purpose of Crypto.com is different compared with Ethereum as it is known as a platform offering financial services. In this way, it is centralizing an idea that was completely decentralized by its structure.
Furthermore, the Ethereum Virtual Machine is responsible for offering support to run the Crypto.org blockchain as well as its Cronos chain. On the 3rd place, the services provided by Crypto.com offer convenience to the proponents and consumers of crypto assets. They facilitate those who intend to have the entirety of the crypto at an all-in-one forum. Though it is centralized, the respective characteristic is not a bad one inherently.
Not everyone feels comfortable utilizing diverse exchange platforms to transform their crypto assets over and over again. In this respect, an average individual can find almost everything on Crypto.com to fulfil the requirements related to decentralized finance and crypto. As mentioned in the vision and mission statements of Crypto.com, the general objective of the platform is to play a significant role in increasing worldwide inclusion in the crypto sector. In this regard, it endeavours to offer services dealing with digital finance.
While providing an access to a wide range of blockchain and crypto-related services and products, Crypto.com thinks that the platform will be a frontrunner within the Web3 world. The respective spectrum is considered to be developed on blockchain technology with the utilization of crypto assets. The local blockchain coin CRO is structured to facilitate transfers with the use of its modified blockchain. CRO is utilized for the payment of transfer fees as well as can be staked by those who want to become validators to get rewards.
Tokenomics and Benefits of CRO
The CRO token could have a resilient potential because of the extensive marketing movements led by its parent company. Nonetheless, the crypto token is still going through its initial phases of development though it has expressed huge growth since its launch back in 2018. At present, the token is ranked at the 38th position among the crypto assets based on market capitalization.
In February this year, the CRO token’s staking APY was almost ten percent. This is known as the return received by consumers for contributing their CRO tokens to assist in operating the blockchain of Crypto.com. On the other hand, the staking APY of ETH at its rival Coinbase was nearly 4.5% at that time. The people holding the CRO tokens in their accounts on the platform of Crypto.com may be eligible to have decreased trading charges. This is specifically assistive for traders dealing with large volumes.
The Visa debit card-related offers of Crypto.com are very generous. The consumers are provided huge rewards such as 8% on purchases done with the CRO token. In addition to this, they can also have free subscriptions to Amazon Prime, Spotify, and Netflix as well as free access to the airport lounge. This indicates that more rewards will be received by the consumers on staking more CRO tokens with the Crypto.com wallet.
CRO Price Prediction: Price History
To understand the crypto market trends, looking at the price of digital assets is considered beneficial. The historical data about digital assets also brings to the front the things like volatility, market cap, supply and demand, innovations, adoption, regulations, economic indicators, as well as global events. Historical data of CRO proves that the coin touched its peak in the last quarter of 2021.
With the help of the historical CRO price data, it is disclosed that the token has been gradually surging in terms of its value. On the 18th of March this year, Cronos’ open price stood at nearly $0.0704. Nonetheless, after a month on the 17th of April, the open price of the token was up to $0.0717. The comparison between these two figures indicates that the digital token experienced a price rise of nearly 1.84% during the respective 1-month period.
In the meantime, the high price of the token has not been that optimistic as mentioned by the statistics. On the 18th of the previous month, the high price of the crypto was almost $0.0739. Nonetheless, the high price of the token on the 17th of this month was approximately $0.0736. While looking at the comparison between the respective two price levels, it is revealed that the token’s high price went through a slump of nearly 0.46% during the respective month.
In addition to this, the low price of CRO on the 18th of March was nearly $0.0703. However, the token reached a low price of almost $0.0714 on the 17th of April, indicating an increase of 1.57%. While looking at the comparison between the close price levels of Cronos at the start and end of the recent 30 days, it is disclosed that the price movement has been pessimistic.
On March 18, $0.0737 was the closing price of the crypto token. Nevertheless, on April 17, CRO reached a closing price of $0.0731. This shows a dip of up to 0.89%. The trading volume of Cronos was placed at $24,779,233 on March 18. Then, on the 17th of April, $14,226,733 was the token’s trading volume, displaying a 42.59% slump. Apart from that, the market capitalization of the CRO token fell from $1,863,105,586 (as of March 18) to $1,846,455,198 (as of April 17), signifying a 0.89% drop.
CRO Price Prediction: Price Analysis
The market analysis takes into account both the fundamental analysis and the technical analysis of the crypto to carry out effective price prediction. In this way, price analysis plays a crucial role in forecasting the future trends of a digital asset. The currently discussed crypto asset Cronos is presently trading at $0.0699. The fundamental analysis of the token says that its all-time high price is $ 0.959822 while $ 0.011508 is its all-time low price since its release which was witnessed on the 12th of November back in 2018.
The market capitalization of the token is placed at $2,133,982,892. $14,711,832 is the current trading volume of Cronos. The cumulative supply of the token is nearly 30.26 billion. On the other hand, the technical analysis of CRO points out that the present price of the token is nearly -93 down as compared to the all-time high value. Additionally, the overall market sentiment towards CRO is bearish.
The fear and greed index is presently placed at 58, showing “Greed.” The crypto market volatility of Cronos is nearly 2.11%. Furthermore, the token dominates by up to 0.14%. In the recent 24 hours, the token has seen a -3.01% decline in its price. In the past 30 days, the CRO token has witnessed 19 days showing a positive price movement.
The risk analysis of the token brings to the front that its value dipped by up to -83% over the last year. Ninety-six percent of the prominent hundred crypto tokens (including Ethereum and Bitcoin) have outcompeted Cronos in terms of value in the meantime. Currently, the token is trading below the 200-day SMA. Another concerning point is that its liquidity is down based on market capitalization.
CRO Price Prediction
Blockchain technology adoption is anticipated to grow in the coming years and hence an elevation will also be witnessed in the innovations in the crypto industry. These things are included in the global events impacting CRO price. As a result of this and the other positive developments dealing with Cronos will elevate CRO supply and demand dynamics.
CRO Price Prediction 2023
CRO price forecasting techniques say that the maximum price of the token will be nearly $0.63 by the year 2023. On the other hand, it can also drop to $0.56 in the same year. Nonetheless, it is expected that the token will trade at around $0.58 on average in the meantime.
CRO Price Prediction 2025
According to the analysis of the fundamental factors affecting CRO price, it is anticipated that CRO market capitalization will witness an increase in the next years. By the year 2025, a spike will be seen in the CRO price performance compared to the other cryptocurrencies. Keeping this in view, the token is expected to reach $1.41 as its maximum price level. $1.19 can be the minimum price of the token by 2025. The average price level of Cronos is predicted to be nearly $1.23.
CRO Price Prediction 2030
The positive developments in the crypto industry and particularly related to Cronos can decrease the impact of the fundamental factors affecting CRO price in the next years. Along with this, if the regulatory developments affecting CRO get favourable for the token’s further advancement, the CRO adoption rate can increase over the coming years. In this way, $9.39 is the anticipated maximum price to be reached by Cronos by the year 2030. The token’s minimum price is anticipated to be $8.00 while it will trade at approximately $8.22 on average by that year.
Conclusion
The aforementioned historical price data, analysis, as well as forecasts can be assistive in making suitable CRO trading strategies. Along with this, the respective statistics also indicate that the token has the potential to be fruitful in the long run. Nonetheless, the volatility, the macroeconomic factors, as well as the overall regulatory scenario are the things that can put a negative impact on crypto.
Therefore, investors should stay up to date about the latest market news as well as risk management. Just those people should consider investing in crypto who have a taste for risk. Hence, doing first-hand research would help align the investment needs as well as the investment strategies of a person.
FAQ
Cronos (CRO) is the native token of the blockchain platform structured by Crypto.com (also known as CRO Protocol Labs), an all-inclusive decentralized finance (DeFi) exchange and application that allows users to buy, sell, and stake cryptocurrencies.
No, CRO cannot be mined due to its consensus mechanism, protocols, and design.
Crypto.com is a closed-source platform offering decentralized financial services through one platform, while Ethereum is an open-source platform that allows anyone to build upon it. Additionally, Crypto.com is focused on providing financial services, centralizing an idea that was initially decentralized, whereas Ethereum supports a fully decentralized ecosystem.
Holding CRO tokens can provide users with reduced trading fees, higher staking APYs, and generous Visa debit card rewards, including up to 8% cashback on purchases and free subscriptions to services like Amazon Prime, Spotify, and Netflix.
By 2025, CRO is predicted to reach a maximum price level of $1.41, a minimum price of $1.19, and trade at an average price of $1.23.
By 2030, CRO is anticipated to reach a maximum price of $9.39, a minimum price of $8.00, and trade at an average price of $8.22.
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