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Steve Muchoki
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Key Notes
- Crypto.com has made deliberate moves to expand its trading services around the world through regulated means.
- The CRO token is heavily incentivized in the Crypto.com ecosystem including rewards to its card holders.
Amid the ongoing short-term bearish crypto outlook, Cronos CRO $0.10 24h volatility: 1.5% Market cap: $2.80 B Vol. 24h: $82.69 M , a vibrant layer one (L1) chain backed by Crypto.com, has dropped more than 35% since early December to trade about $0.128 on Monday, January 27, during the early New York session. The mid-cap altcoin, with a fully diluted valuation of about $3.8 billion and a 24-hour average trading volume of around $28 million, has been forming a rising channel since late 2023.
In the daily time frame, CRO price has been forming a falling wedge pattern, which is often followed by a renewed bullish sentiment. Furthermore, the weekly Relative Strength Index (RSI) has retested the 50% level, thus presenting long-term buyers a decent chance to purchase more CRO coins.
The rise of CRO to a major DeFi ecosystem, with a total value locked (TVL) of more than $479 million and a stablecoins market cap of over $18 million, is heavily influenced by the undeniable success of the Crypto.com exchange. The Crypto.com executives have been actively involved in the Donald Trump crypto team tasked with changing the context of digital assets regulations.
Crypto.com Fundamentals Secures CRO’s Future
The cryptocurrency exchange has attracted more than 100 million globally registered users majorly due to key licenses from major jurisdictions. For instance, Crypto.com announced earlier today that it has now received full approval to operate in Europe via the Markets in Crypto-assets (MiCA) regulations.
The company also revealed that its institutional-grade services will be available in the United States for all retail users. The cryptocurrency exchange also stated that its custody services are now available to international clients.
The move to expand its services to global markets follows the positive discussions by Donald Trump’s administration to implement clear crypto regulations to enable the responsible adoption of digital assets. According to Kris Marszalek, the CEO and co-founder of Crypto.com, the crypto exchange has continued to focus on safety and security to ensure a seamless adoption of digital assets.
Late last year, Crypto.com announced a strategic partnership with Mastercard to launch its debut card in Bahrain. The Crypto.com card has different tiers, which help users in CRO token lockup depending on the set level. For instance, the Obsidian tier card offers up to $500K in CRO token lockup and 6.5% on rewards in everyday spending.
The Prime card level, on the other hand, has a limit of $1 million in CRO token lockup and 8% in everyday spending rewards.
According to Eric Anziani, the president and Chief Operating Officer at Crypto.com, the company’s card program has been expanded in more countries within the Gulf Cooperation Council (GCC) including Saudi Arabia and Kuwait.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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