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Cronos, the native cryptocurrency of the Cronos Chain, has gained significant attention in the crypto market. It has a total supply of 10 billion CRONOS tokens.
Cronos is built on the Cosmos Network, a decentralized network of independent, parallel blockchains each powered by the Cosmos-SDK. This allows for interoperability with other blockchains, making Cronos a versatile and widely compatible cryptocurrency.
Cronos has seen significant growth in its market value, with its price increasing by over 1000% in a matter of months. This is likely due to the growing adoption of the Cronos Chain and the increasing demand for CRONOS tokens.
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What Is Cronos?
Cronos (CRO) is the native cryptocurrency token of Cronos Chain, a decentralized, open-source blockchain developed by Crypto.com.
Cronos Chain is one of Crypto.com's solutions designed to accelerate global adoption of cryptocurrencies, increasing personal control over money and safeguarding user data.
The CRO blockchain primarily powers the Crypto.com Pay mobile payments app, and Crypto.com plans to expand its reach to power other products in the future.
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What Is CRO?
CRO is the native cryptocurrency token of Cronos Chain, a decentralized, open-source blockchain developed by Crypto.com.
Cronos Chain is one of Crypto.com's solutions designed to accelerate the global adoption of cryptocurrencies.
The CRO blockchain primarily powers the Crypto.com Pay mobile payments app.
In the future, Crypto.com plans to expand the reach of the CRO platform to power its other products as well.
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What Makes Cronos Unique?
Cronos is a unique cryptocurrency that allows users to earn rewards for staking their coins on the Crypto.com Chain.
CRO owners can act as validators and earn fees for processing transactions on the network by staking their coins.
The Crypto.com Pay payments app offers users a cashback of up to 20% for paying merchants in CRO.
Users can also earn up to 10% cashback by purchasing gift cards and making peer-to-peer transfers to other users.
The Crypto.com App allows users to earn token rewards for select listings by staking CRO.
Cronos is continuously being developed to increase the adoption of cryptocurrencies globally, with new use cases being found and implemented regularly.
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Project Reputation and Community Support
Cronos' reputation and community support are crucial factors that influence its price and adoption. Cronos has a strong community-driven approach, which has contributed to its success.
The value of Cronos is also influenced by its utility within the Crypto.com ecosystem. By providing users with benefits such as cashback and token rewards, Cronos has established itself as a valuable asset.
Cronos' ability to power Crypto.com's payment, trading, and financial services solutions has garnered significant attention and support from the community. This has helped to increase the adoption of cryptocurrencies on a global scale.
Public sentiment has a big influence on crypto prices and rankings, and Cronos has managed to maintain a positive reputation despite the challenges faced by the cryptocurrency market.
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Cronos Price and Supply
The total supply of Cronos (CRO) coins is limited to 30 billion, with 70 billion coins burned in 2021. This makes it a non-mineable cryptocurrency with a fixed supply.
The supply of CRO is allocated for five different purposes, with 30% set aside for secondary distribution and launch incentives, released in batches over five years. 20% is reserved for capital and network long-term incentives, frozen until November 2022. 20% is allocated for ecosystem grants, also frozen until the launch of Crypto.com Chain Mainnet. 10% is dedicated to community development.
The current circulating supply of CRO is 26.57 billion coins, according to CoinMarketCap. The live market cap of CRO is $3.44 billion USD, with a current price of $0.13 USD.
Cronos [CRO] Circulating Supply
The total supply of Cronos [CRO] coins is limited to 30 billion, following 70 billion CRO burned in 2021. This makes CRO a non-mineable cryptocurrency.
The total supply of CRO was created when the blockchain went live, and it's allocated for five different purposes.
Here's a breakdown of the allocation:
- 30% - Secondary distribution and launch incentives: Released in batches on a daily basis over five years from November 14, 2018.
- 20% - Capital reserve: Frozen until November 7, 2022.
- 20% - Network Long-Term Incentives: Frozen until November 7, 2022.
- 20% - Ecosystem grants: Frozen until the launch of Crypto.com Chain Mainnet.
- 10% - Community development.
Scarcity
Scarcity plays a crucial role in the world of cryptocurrencies, and it's directly linked to the supply and demand ratio.
Cryptocurrencies with a limited supply, like Bitcoin, are deflationary in nature, meaning they'll become less frequent over time.
This scarcity element can drive up the price of a coin, especially if demand is high or increasing.
In the case of cryptocurrencies with a huge supply or unlimited supply, but low demand, the price may be low or even fall.
As a result, investors and traders often look for cryptocurrencies with a limited supply, as they have the potential to increase in value over time.
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Where to Buy and Trade
You can buy and trade cryptocurrencies on various platforms. Let's take a look at a few popular options.
Bittrex, OKEx, and Huobi Global are some of the exchanges where you can buy CRO coins. These exchanges offer a secure and reliable way to purchase cryptocurrencies.
If you're new to buying cryptocurrencies, you can use a debit or credit card to make a purchase. This makes it easy to get started.
To find the market for a specific cryptocurrency, click on the "Trade" button. This will give you access to the USD market for cryptocurrencies priced in USD, or the USDT market for those priced in USDT.
Here are some popular exchanges where you can buy cryptocurrencies:
- Bittrex
- OKEx
- Huobi Global
Global Prices and Market Data
The live price of a cryptocurrency can change rapidly, often within a matter of minutes. This is because the price is determined by the balance of buyers and sellers on cryptocurrency exchanges.
The current price of Cronos, for example, is $0.129825 USD, with a 24-hour trading volume of $32,250,146 USD. This is a significant amount of trading activity, but it's just one factor that can influence the price.
A cryptocurrency's price can also be affected by changes in supply and demand, as well as the attitudes of regulators and the public. This can lead to price fluctuations that may seem unpredictable.
The market capitalization of a cryptocurrency, which is calculated by multiplying the price of one coin by the number of coins in circulation, can also give us an idea of its market dominance. Currently, the market capitalization of Cronos is $3,449,664,905 USD.
To stay up-to-date on the latest market action and make informed trading decisions, it's essential to have access to reliable market data. This can include live price charts, historical price data, and detailed information about the factors that influence a cryptocurrency's price.
With the right tools and information, you can set up alerts and receive notifications when a coin reaches a certain price, increasing your chances of finding great buying or selling opportunities.
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What Affects Prices?
Cryptocoin com price can be affected by a variety of factors, including supply and demand, scarcity, and coin's utility.
The supply and demand ratio is constantly changing, with some market participants dominating the market or taking over the initiative. This can cause prices to fluctuate rapidly.
Regulators' or public's attitudes towards the market or a particular cryptocurrency can also impact prices. A change in narrative can cause prices to go up or down.
The strength and events of the broader global economy can affect the crypto market as a whole. Crypto prices tend to do well when global currencies are struggling.
The investment amount from retail and institutional investors is a huge factor in determining cryptocurrency price. Retail investors can be motivated to buy or sell a particular token due to various factors.
Institutions have started investing in major cryptocurrencies, which can increase crypto awareness and confidence among retail investors. This can lead to a surge in price before doubt and disillusionment set in and result in a crash.
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Bitcoin's significant price movements often affect the market cap of other cryptocurrencies. Its major bull runs have formed a pattern around its halving events, which happen approximately every four years.
A cryptocurrency's max supply, emission schedule, public sentiment, and team behind it can also influence prices. These factors can be unique to a specific coin or category, impacting the entire cryptocurrency market in varying ways.
Basic economic principles apply to cryptocurrencies, with a huge supply or unlimited supply leading to low or falling prices if demand is small. On the other hand, a limited supply and high or increasing demand can result in high or rising prices.
Frequently Asked Questions
What is crypto.com worth?
As of now, Crypto.com Coin is worth approximately $0.13958 USD. However, its value has fluctuated recently, decreasing by -3.51% in the past day and -13.17% over the last week.
What happened to crypto.com coin?
In January 2022, Crypto.com was hacked, resulting in a loss of US$15 million in stolen Ether, but customer funds were reportedly unaffected.
Sources
- https://coinmarketcap.com/currencies/cronos/
- https://cex.io/prices
- https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-ethereum-bitcoin-crypto-european-wrap-30-december-202412301239
- https://kriptomat.io/cryptocurrency-prices/
- https://www.analyticsinsight.net/price-analysis/crypto-price-today-bitcoin-holds-strong-at-92530-ethereum-dips-to-3340
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