Cronos
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Information about Cronos (CRO)
Crypto.com Coin is an open-source, decentralized blockchain project developed by Crypto.com. They are on a mission to accelerate the world’s transition to cryptocurrency, make it easier for users to buy, sell, trade an extensive list of currencies, and enjoy relatively low trading fees. Built on the foundation of modern technology, Crypto.com Coin pays great attention to protecting users’ data and identities, aiming for a world where each individual has complete control over their assets.
In addition, this project also has a unique feature that is developing sustainably, limiting carbon emissions, and becoming more environmentally friendly.
CRO is a native token of the Crypto.com Coin ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
- Enables cross-asset intermediary currency settlement
- Settle block transaction fees
- Transact with minimal fees
- Reward for processing and validating transactions on the network
News
Cronos (CRO) increased by 7%, becoming the top altcoin gainer today, following a strong partnership announcement. The price crossed $0.10, with technical indicators suggesting further growth ahead.
The RSI, after peaking at 89.64, currently rests at 61.2, showing healthy momentum. With technical support at $0.12, CRO could potentially target $0.20 in the near term.
Donald Trump’s focus on American digital assets through new ETFs raises concerns due to unclear inclusion of altcoins, which may risk investments and promote a false sense of superiority among American cryptocurrencies.
The theory of ‘America First’ contradicts the global nature of cryptocurrencies aimed at efficient transactions. This mindset may alienate developing nations where digital assets are increasingly adopted.
Instead of focusing on ETFs, regulatory advancements might better support America’s dominance in crypto. Current legislation could help integrate global cryptocurrency practices, reflecting a cooperative rather than isolated approach.
Cronos is showing bullish signs, maintaining a price above $0.0975 and targeting $0.1 as support. Significant buying volume further backs the upward trend.
The 1-day RSI and On-Balance Volume signal a solid momentum for CRO’s price. However, traders should be cautious of a possible dip due to the negative funding rate, indicating crowded short positions.
Crypto.com has drawn criticism for reissuing 70 billion CRO tokens, which contradicts its earlier commitment to burn them. Following a partnership announcement with Trump Media, CRO’s price spiked 35%, leading to accusations of market manipulation despite ongoing scrutiny.
Many in the crypto community are skeptical about the partnership with Truth Social, claiming that Crypto.com should collaborate with more established exchanges. Allegations against CEO Kris Marszalek suggest potential influence in securing the deal, while the mixed market sentiment around CRO raises further questions.
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