Analysis of Cronos (CRO) Price: Potential to Reach $0.1 with Increasing Utility

Analysis of Cronos (CRO) Price: Potential to Reach $0.1 with Increasing Utility


Cronos (CRO) has seen a 7% increase in price following the Interchain Hackathon, a platform for innovation and problem-solving in the cryptocurrency industry. The event, which requires an app  to attend, brings together developers, designers, and enthusiasts interested in decentralized finance, gaming, and modularity. The hackathon is gonna come over two days in Seoul, South Korea, and will feature a technical workshop led by developer Jong Whan.

Cronos is whole lot of in the Cosmos network and uses the Cosmos SDK platform to enable the creation of new blockchains. The collaboration between Cronos and Cosmos eases the Inter-Blockchain Communications protocol (IBC), linking Cronos’ Ethereum (ETH) Virtual Machine (EVM) with the Cosmos chain. The native token, CRO, is used for mainnet usage, transaction settlement, and network fee payments.

The price of CRO as of now stands at $0.052, with a 5% increase on the day. If the momentum continues, CRO could breach the 50-day Exponential Moving Average (EMA) at $0.054 and potentially reach the $0.100 target. The Relative Strength Index (RSI) and Moving Average Intersection Divergence (MACD) indicate a positive trend market, but there is still a risk of correction.

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For those considering investing in CRO, an alternative is Bitcoin (BTC) BSC (BTCBSC), a new project built on the BNB Smart Chain. BTCBSC intends to provide investors with high staking bonus and is as of now in the presale stage. The project offers interoperability with other Binance Smart Chain (BSC) dApps and features an eco-friendly stake-to-earn model. Don’t miss out on the BTCBSC rally.

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Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.

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