Skip to main content

Is Cronos a Good Investment As TVL Climbs to $2.4B?

 


Cronos price has been moving sideways for the past few days despite accelerating its ecosystem growth. CRO is trading at $0.4170, where it has been for the past few days. It's about 65% off its all-time high, bringing its total market cap to about $10 billion.


Crypto.org Chain Ecosystem Growth

Cronos, formerly known as Crypto.com Coin, is the cryptocurrency for Crypto.org's smart chain. It is simply a smart contract platform similar to Avalanche, Ethereum and Fantom.


In the past few weeks, the Cronos ecosystem has grown a lot as developers have embraced it. Its total value (TVL) rose to over $1 billion in one month and is currently around $2.44 billion, which is a record high.


Most of this growth comes from VVS Finance, the largest app in its ecosystem. VVS is a DeFi trading platform that allows people to swap and trade their coins. It also has an earning feature that allows people to earn money by providing liquidity to the network. For example, it has over $263 million in deployed liquidity for the CRO-ETH pair.


Other leading DeFi platforms in the Cronos ecosystem are MM Finance, Tectonic and MM Optimizer with a TVL of over USD 100 million. Others up and coming are Beefy Finance and Autofarm.


Analysts believe that Cronos has a good chance of becoming a successful rival to Ethereum due to its strong performance. Also, the platform is significantly faster and transactions in its ecosystem are cheaper. Additionally, the team behind Cronos will expand its marketing strategy to strengthen the ecosystem.


The next major catalyst for Cronos price will be Friday's upcoming US Non-Farm Payrolls (NFP) data.



The daily chart shows that the CRO price has been range-bound for the past few days. It's down more than 60% since its peak in 2021. At the same time, it has formed a triangle pattern and is currently trading along the 25-day and 50-day moving averages.


As such, Cronos' outlook at this point is neutral with a bearish bias. If the triangle pattern approaches its confluence level, there are chances for the coin to retest the key support level at $0.30.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more