The Hong Kong-headquartered exchange, Crypto.com has a native cryptocurrency known as CRO. Founded in 2016, the exchange is geared towards facilitating an easy payment experience with digital currency. Crypto.com has supported over 100 cryptocurrencies so far.
CRO used to be an Ethereum based currency until it recently got transferred to Cronos chain, a native blockchain network of Crypto.com.
This migration has seen CRO become the utility token for Cronos and has enabled more real use. With a market capitalization of $8.5 billion, CRO is currently the 23rd largest cryptocurrency.
The token surged significantly over the past few weeks and attained an all time high of $0.408171. As of writing, CRO was trading at a price of 0.378777.
Here’s an overview of why the CRO is going up;
Following the bullish momentum of the CRO which began on 28 October, the price has since seen a daily surge of 25%. Less than two weeks since it took off from the 0.2040 price, CRO has increased by more than 100%.
This spike can be attributed to the intent on the expansion of Crypto.com within and outside the crypto industry, a $100 million marketing ad campaign expected to run in 20 countries has been launched to that effect.
Speaking on CNBC, CEO and co-founder of Crypto.com, Kris Marszalek, shed some light on the future of the leading cryptocurrency, Bitcoin as an investment currency. He also weighed in on Cypto.com’s brand campaign and partnership with Matt Damon
CRO, the next 10x coin?
Until we see how the CRO moves in the coming months, we cannot ascertain that CRO is the next 10x or even 20x coin, but judging from its recent spike, a continuous run is expected. The completion and launch of the Cronos chain is also a determining factor as it will add more utility to the CRO token.
If this happens, all transactions on the Cronos and Crypto.com ecosystem would be paid in CRO thereby leading to an upward surge of the token.
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