Crypto.com chain (CRO) Token rose by 45% following its listing on the top 20 exchange of the world, UpBit Exchange. Crypto.com is a Hong Kong-based Blockchain firmed that offers a variety of financial aids built on cryptocurrency: VISA enabled Crypto Credit/Debit Cards, and a secure Wallet and Mobile App.
The crypto.com chain (CRO) is enabling interoperability between cryptocurrencies and FIAT payments. Hence, users can make cryptocurrency payments to any merchant in the world. The cryptocurrency will be converted to the FIAT currency for a minimal cost. CRO chain acts as a bridge currency which finds a wide-scale application with real-world adoption.
Kris Marszalek, co-founder and CEO of Crypto.com, said, “We are very grateful that Upbit has supported our project. The Crypto.com Pay Software Development Kit (SDK) was shipped last week and the payment platform has added 400000 new users this week.”
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
Crypto.com [CRO] Token Reaction
The price of the crypto.com chain (CRO) increased taking the cue from the listing news. A surge in volume with fresh new entrants was noticed on the hourly chart. The CRO/BTC price rose from 0.00001710 BTC to 0.000028 BTC in an hour recording instantaneous jump of 63% at around 7 00 UTC on 14th March 2019.
Moreover, the RSI indicates over-bought conditions while a ‘hanging man’ single candle-stick seems to be forming to the 1-hour chart of CRO/BTC. Hence, correction might be observed. However, the traders might sustain their positive outlook of CRO pushing the price even further as CRO seems to be riding on bullish sentiments for the past couple of weeks.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com