Crypto.Com Chain (CRO) Races Ahead on Huobi Global Listing
The Huobi Global token offering program selected CRO as the first asset to be listed, boosting the price considerably.
Crypto.com Chain (CRO) was one of the few assets that avoided a crash this Thursday, as the Huobi Global token sale and listing boosted the asset. The token, a part of the Crypto.com spending app and card system, was on a rising spree in the past days.
CRO traded at $0.1032 as of 6:25 UTC on Friday, keeping 44% of its net weekly gains. The price remains near its absolute peak at $0.1073. The start of trading and the end of the buildup may cause a backtrack to lower valuations.
However, the added liquidity of Huobi Global may also lift CRO even further in the longer run. Before the Huobi Global listing, CRO depended on Bittrex, Upbit and Digifinex for most of the trading activity. More than 61% of CRO volumes were based on the Tether (USDT) pair.
The prevalence of stablecoin trading helped CRO also grow against Bitcoin (BTC), unlike other altcoins. In the past days, CRO climbed from the 600 Satoshi range to above 900 Satoshi.
In the meantime, Crypto.com (MCO) traded without much change at $5.70, going relatively strong based on recent announcements of card shipments to the USA coming very soon.
CRO is instrumental to the Crypto.com ecosystem, which aims to be a multi-asset platform allowing crypto spending in everyday life.
“The Crypto.com Chain Token (CRO) powers a high-performing native blockchain powering Crypto.com Pay which allows users to pay or get paid in crypto, anywhere. While customers reap generous cashback rewards through Crypto.com Pay, merchants also benefit from greatly reduced processing fees and near instant settlement,” explained the project’s team in the listing announcement.
The Crypto.com project rebranded itself from Monaco, and is one of the most influential startups for crypto payments.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.