Crypto.com Chain (CRO) Price On Track to Repeat Record Levels
Despite the setback, the CRO market price rally continues, boosted by Binance, but also increased Bittrex activity.
Crypto.com Chain (CRO), the newly created asset by Crypto.com (MCO), is rallying again, this time in total denial of the market slide. On Thursday, CRO extended its gains above 9 cents, on track to repeat its previous records both in dollar terms and against Bitcoin (BTC).
CRO traded at $0.092 as of 6:30 UTC on Friday. But this time, the price rally is happening on much thinner volumes compared to the activity peak around March 18, when the asset rallied for the first time. At that point, CRO trading reached near the equivalent of $100 million in 24 hours. Now, the price spike is seeing only $3 million in activity.
The boost for CRO may have arrived from its association with Binance, as the project recently revealed a grant to Binance Charity. The additional publicity boosted the price of CRO, as well as the project’s visibility, as the startup received kudos from Changpeng Zhao, CEO of Binance.
The grant was first noted by Whale Alerts, a Twitter handle looking out for large transfers of digital assets.
CRO is also on a rollout for its Council Nodes, a form of staking promising up to 12% interest per year. Currently, the cost of 10,000 CRO has risen to $920, with the expected return of 1,200 coins. The MCO asset, formerly known as Monaco, is also promising monthly airdrops for holding and staking, offering an alternative source of passive income, as Reddit users have noted.
In the past, CRO has seen its peak rally unravel, though still preserve a big part of the gains. In the past quarter, CRO drifted around $0.012, with little change before a sudden peak of activity.
MCO traded around $3.95, slowing down near its usual levels of the past months. The asset is not breaking out yet, despite the news of successful card distribution.