In the guide below, you will learn what a CRO coin (Cronos) is, how it works, and what the price predictions are for this utility token. You will also learn the short history of the exchange founded by Kris Marszalek, a Polish entrepreneur.
A utility token, such as the Decentraland MANA coin or the Sandbox native metaverse token (SAND), can be used natively to perform a service for a protocol in exchange for a reward. In the case of CRO (Cronos Coin), the matter is even more advanced, as the publisher, the Crypto.com exchange, has developed its blockchain. Let’s find out more about what a CRO coin is.
What Is Cro Coin (Cronos Coin)?
CRO (Cronos) is the native coin of Cronos, a decentralized, open-source blockchain designed for payment settlement. The token has been active since December 2018.
Although CRO was initially designed as an ERC-20 token, Crypto.com created its own Cronos blockchain in November 2021. In addition to being utilized to settle transactions on Cronos, CRO holders gain advantages while utilizing the goods offered by Crypto.com, including reduced costs, increased revenues for lending, and priority services.
The first native token for Crypto.com was the Monaco Coin (MCO). However, the Crypto.com ecosystem has switched to using Cronos coin for all its in-network functions. All Crypto.com customers were requested to convert their MCO holdings into CRO via the Crypto.com app by November 2020, although MCO was first utilized to power the trading platform at that website.
How does CRO (Cronos) Coin work?
The Cronos blockchain operates in the Cosmos ecosystem. The latter operates based on a proof-of-stake consensus mechanism. The standard for the Cronos token is CRC-20.
Cronos is also the first Ethereum-compatible blockchain network built on Cosmos SDK technology. Its Inter-Blockchain Communication (IBC) protocol enables interoperability and connectivity with the Crypto.org chain and other IBC-enabled chains (e.g., Cosmos Hub). Cronos was built to connect the Cosmos ecosystem and the EVM ecosystem.
CRO Coin Price
- The current CRO price is $0,07115 (November 18, 2022)
- The maximum supply is 30,263,000,000
- The trading volume is $30,181,026
- Cro achieved the all-time high price of $0.965407 on November 24, 2021
- Its all-time lowest value was $0.01211960 (February 08, 2019).
Cro Token Price Prediction
When it comes to CRO price predictions, they are divergent. As predicted by Trader’s Union, the coin could be a bad long-term investment. Union forecasts that the average CRO price will reach $0.0136 by the end of 2022, $0.006096 by the end of 2025, and $0.00118 by the end of 2027.
Other analysts approach the future of Cronos Coin differently. According to Coindataflow, the price of CRO could increase from $0.12 in 2022 to $0.36 in 2025. Price Prediction’s CRO/USD forecast for 2030 is much more optimistic. It predicts that the coin could reach $2.46 by the end of the next decade.
Cro Coin Market Cap
- Market Cap $1,786,203,589
- Market Cap Rank is #31
Where To Deposit Cro Coin
You can quickly deposit CRO coins on crypto trading platforms like SimpleFX.
How To Deposit CRO Token on SimpleFX
First, register on the Platform. Then you need to set up a live account for the new tokens according to the instructions below:
- Expand the main MENU (upper right corner) and select Account & Deposits.
- Click Add accounts and select Live account.
- Select CRO from the currency menu or enter it manually.
- Click Create an account, select Yes, and make a deposit.
- Click the green Deposit button (lower right corner) and select Verify profile.
- Go through the verification procedure and make a SAND deposit. Done!
About Crypto.com Chain
Crypto.com, based in Singapore, operates as a platform and app where users can buy, sell and earn digital assets. It was founded in 2016 by Kris Marszalek, a Polish-born entrepreneur, and Bobby Bao, Gary Or, and Rafael Melo, and it has since acquired more than 50 million users. According to the Crypto.com whitepaper, the Cronos ecosystem “represents the next major phase in the adoption and utilization of Web 3.0 by hundreds of millions of users”.