Crypto.com Chains CRO Goes Berserk to Gain 468% in a Week
One lesser-known crypto token has made eye-watering gains this week. | Source: Shutterstock
Crypto.com Chain might be one of the only nascent crypto projects that have maintained its upside hype for a straight week.
The projects CRO token on Friday noted yet another massive movement to the upside. The CRO-to-dollar rate rose as much as 65 percent, bring the pairs weekly return to a whopping 468 percent. In the said timeframe, the CRO price jumped from a meager $0.019 to a weekly high towards $0.108. At the same time, the CRO market cap surged from $65.736 million to as high as $428.14 million.
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Crypto exchange Bittrex continued to host a majority of CRO-enabled trades. Based on a 24-hour adjusted timeframe, the exchange hosted $4.69 million out of the total $5.35 million CRO trading volume. Thats almost 88 percent of the overall daily volume. Interestingly, a majority of traders left Bitcoin for CRO, evident by the slow sideways performance of the king cryptocurrency in the recent weeks.
In our previous coverage, we discussed the key fundamental factors that were maintaining the bullish bias in CRO markets. First, it was the CRO listing announcements on Bittrex and Indodax. The Crypto.com Chain team also announced that it had partnered with an Indonesia-based dropship e-commerce company Yoshugi Media Group.
From the way it looks, those fundamentals stayed for dinner. Crypto.com Chain today announced that another crypto exchange, Upbit, would list CRO pairs.
The @cryptocom Chain ($CRO) Token will be listed today on @UPbitExchange! Open-source of @Cryptocom Chain Testnet v0.1 scheduled on Wednesday, March 20th. Read more here – https://t.co/udc2IYExCN pic.twitter.com/9zHqMf9MCV
— Crypto.com (@cryptocom) March 15, 2019
Technically, the CRO-to-dollar rate formed a bull flag after its first upside move, signaled by the ongoing pumping phase. It indicates that more traders are willing to purchase CRO on new higher high formations. While these bets remain risky, they also suggest a robust bullish bias in the CRO markets.
But fundamentally, Crypto.com Chain is looking stronger. The Hong Kong-based project reportedly offers merchant-centric crypto payment solutions. It has already rolled out its software development kit for selected merchant partners to begin their integration process. Let ...Read full story on CCN