Crypto.com Chain (CRO) bucks market trend, spikes over 16%

11 Jul, 2019 | Updated: 11 Jul, 2019
by David Robb
Adoption
Crypto.com Chain (CRO) bucks market trend, spikes over 16%

In a mostly negative day for the crypto market, one token has bucked the trend and seen double-digit gains. Crypto.com Chain (CRO) is up over 16 percent.

Crypto.com has seen some major volatility over the past month or so, and is currently up over 40 percent since the second week of June. The 22nd-largest crypto by total market cap had its biggest spike on June 25, when it was announced that leading exchange OKEx would be listing the token. Following this, CRO started to decline in price, eventually hitting a low of around $0.50, down from a peak of $0.76 shortly after the announcement.

CROUSDT chart by TradingView

After gradually climbing back to as high as around $0.84 over the subsequent week, the past 24 hours have seen another big spike for CRO. It is currently trading at $0.97. 

CROUSDT chart by TradingView

Founded in Hong Kong back in 2016, Crypto.com was intended to accelerate crypto adoption. Its CRO chain facilitates fast transactions between merchants and consumers, and the company has launched its own app. It also created MCO, a utility token that operates as part of the same eco-system, enabling cross-asset settlements, and integrating with the MCO Visa card.

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Read more about: Crypto.com Chain (CRO)

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