CRO cryptocurrency from Crypto.com

You know a company means business when they are willing to spend $10 Million just to get the domain name that they want. As was the case for this company https://cryptonews.com/news/crypto-com-domain-is-officially-sold-for-millions-2193.htm

If you’ve traded cryptocurrencies on a decentralized exchange before using the ethereum blockchain (such as Uniswap, 1Inch, or SushiSwap) you may have noticed gas fees that are so high, you could be pouring more into completing a transaction than you are into the crypto you are purchasing unless you’re spending many hundreds or even thousands of dollars.

Several solutions to the problem of ethereum blockchain gas have been presented and one of the more popular ones is utilizing other blockchains that have less fees associated with trades and transactions. We saw this with the massive spike in popularity of Binance Smart Chain and Pancake swap with the BNB token reaching all time highs as people moved from Ethereum to Binance to avoid fees in the hundreds of dollars. BNB, which was trading around the $30 range earlier just this year, reached a high of over $300 representing a 10X upside from their pre-smartchain hype pricing. A similar opportunity now presents itself with Crypto.com token CRO, currently valued at around $0.25 and a market cap of almost $6 billion

But what is CRO?

Crypto.com was founded in 2016 and is one of the first companies to offer a cryptocurrency funded debit card to US Residents. They are planning to enter the smarchain space to gain some of the users that have been fleeing ethereum due to high fees and the mainnet is set to launch on March 25th 2021 https://blog.crypto.com/cro-mainnet-launching-on-march-25th-2021-as-crypto-org-chain/

The company acquired the crypto.com domain name early on which helps get many new people entering the crypto space because it’s domain is literally CRYPTO (dot) com.

The team is not anonymous and the project is matured and old by most crypto project standards. Meaning it is at a very low risk of a hack or rugpull that has plagued newer projects in the space. This is particularly the case with the ease in which people could deploy ERC-20 tokens on the ethereum blockchain over the past year.

The Team at Crypto.com are currently implementing a token burn, a process in which the creators or network destroy tokens, reducing supply, so that the price of the remaining tokens goes up. You can read more about this here https://finance.yahoo.com/news/why-crypto-com-coin-skyrocketed-001950286.html

But this started on February 23 and has been very successful up until now (if you take a look at the historical price chart on coingecko or coinmarketcap).

Once the mainnet launches we can expect developers to start building on top of the blockchain which is usable for another really popular and trending narrative right now NFT’s

If you are planning on investing in CRO you should consider both the bull and bear cases.

The Bullish case

The Bearish Case

--

--

--

Blockchain Developer Providing Quality Crypto and Finance Education, Let me help you achieve Financial Freedom! Free resources spreadsheets at xander.finance

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

A Step-by-Step Guide to Vote at the Blockstate Annual General Meeting

How Plena Finance solves the daunting interaction process with the DeFi protocol

HOW TO USE THE STAKING FEATURE ON S-WALLET

Research-to-Earn model Part 2 — Gamifying your crypto earning experience

Creo- Engine - A GameContent Developing Medium Which Grants Various features for Players and Crypto…

How to earn a passive income with the best TRX based DeFi Ecosystem?

The Importance of Decentralization

How to Choose an ICO Bounty Program? 7 Key Factors to Consider!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Xander Finance

Xander Finance

Blockchain Developer Providing Quality Crypto and Finance Education, Let me help you achieve Financial Freedom! Free resources spreadsheets at xander.finance

More from Medium

What is Defi? Which Defi Projects Are Safe?

Nvidia CEO: Ethereum (ETH) Will Be Valuable

Is 30% APR really possible on a very stable token?

Recently, the Ethereum Foundation Released its Very First Treasury Report