Why Has Crypto.com’s CRO Token Surged 380% in a Couple of Days?
How appropriate…it's the month of March and it appears that Crypto.com Chain CRO token is seeing green days. At the time of writing, the coin was trading at $0.0636 with a major push of 38.31%. Additionally, In regards to market cap and positioning, CRO coin is now at 29th position with a market cap $216,514,959.
When a crypto asset starts rocketing, it requires a more detailed look. One that is flying up the marketplace cap charts at the minute is Crypto.com Chain, elbowing its way into the leading thirty with a 170% pump on the day.
CRO Token Surges 200% in Under 2 Days
This time last week CRO was an unknown altcoin, flat lining at $0.0130 (333 satoshis). Things began to bubble up over the weekend but over the past number of days this token has actually shot for the moon with a massive pump of 380% to $0.0625 (1600 satoshis).
Few altcoins have actually made triple figure day-to-day gains but CRO is among them with a 170% pump today alone. Daily volume has actually multiplied from a simple $90,000 to over $800 million and it appears that South Koreans are going crazy for Crypto.com at the minute. Over half of that volume is currently in KRW on the GOPAX exchange so what do they know that we don't? The epic pump has actually increased CRO market cap over $200 million which has actually made it larger than Decred, Icon and 0x and on a par with Qtum and OmiseGO.
What is CRO and Why The Pump?
In a nutshell, Crypto.com Chain is a blockchain project which offers instant crypto transactions. Headquartered in Hong Kong, Crypto.com is a pioneering payments platform that intends to increase crypto adoption through different payments channels consisting of Visa cards. Claiming to offer no fees or markups, it and touts itself as the best place to buy crypto. Last month the company released its Vortex Trading Engine which pools liquidity from significant exchanges worldwide and routes orders to them to guarantee the very best execution price.
The platform uses a number of fiat on ramps, though these are mainly in Asia at the moment. There is also a crypto wallet with cash back features and a Visa card powered by the MCO token. Other advantages include complimentary Netflix and Spotify memberships to cardholders as users who pay for their memberships with the MCO Visa Card can get a complete rebate on the cost of their plan. Discount rates on travel and reservation websites Expedia and Airbnb are also offered by using the crypto card. According to CEO Kris Marszalek;
“The MCO Visa card now offers best cashback terms of any card in the market, along with perks that match the lifestyle of our community. We’ve received hugely positive feedback from our customers in Singapore and are looking forward to shipping the cards in the US, Europe and other key markets. The product is irresistible whether you’re a hardcore cryptocurrency fanatic or someone who is just learning about it.”
Recently the Crypto.com Pay system went live which has started the run of its native ERC-20 CRO token. It has actually had over 400,000 app downloads and over 125,000 MCO Visa card registrations worldwide. Today's huge spike has actually originated from a listing on the Indodax exchange which taps into a potentially huge brand-new fiat market– Indonesia.
Hello Indonesia!@cryptocom's $CRO(with IDR pairs)will be listed on @IndodaxOfficial, the leading exchange, while https://t.co/vCNztABJoG Pay will be implemented with the Yoshugi Media Group. Bringing crypto to 260 Million more wallets!
— Crypto.com (@cryptocom) March 12, 2019
Recently, Crypto.com Chain went on to an exchange listing spree. The project announced today that Indodax will provide CRO-enabled trading pairs on its platform from March 14. In addition, Crypto.com Chain is in collaboration with an Indonesia-based dropship e-commerce business Yoshugi Media Group. This collaboration aims at regional adoption for CRO as the token replaces pricey payment methods with its blockchain made it possible for services.
Deposits on the Indonesia Digital Asset Exchange start today and complete trading will go live tomorrow. After South Korea and Japan, Indonesia is among the region's greatest crypto trading markets. The listing has clearly supplied a big increase for CRO which the leading performing altcoin in the top one hundred at the minute. All things considered, the presumption is that this partnership venture is what has actually escalated the coin significantly.
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