Cronos is an EVM-compatible chain that supports inter-blockchain communications. It allows easy porting of smart contracts and decentralized apps. It was launched in 2021 and powers the Crypto.com pay feature
Indeed, Crypto.com is a payment company founded by Rafael Melo and Kris Marszalek, which was operated under the name of Monaco Technology and later rebranded as Crypto.com. Cronos is popular with both developers and users for the following reasons:-
- Developers can port solidity-based Ethereum dApps without significant changes.
- Last year, it raised a $100 million fund to support developers creating dApps on the Cronos chain and Crypto.org chain.
- As a part of a wider ecosystem, it provides access to more than 10 million adopters of its solutions.
- As a Tendermint Core’s PoS consensus, Cronos is highly scalable.
- The source code is publicly available so users can audit and contribute to a project for improvement.
It is based on Ethermint, a scalable, high throughput blockchain framework compatible with Ethereum Virtual Machine with interoperable features between blockchains. On the other hand, Crypto.org is not based on Ethermint, so it does not support the EVM platform.
At the time of writing this post, CRO was trading around $0.122, which is a strong resistance for the short term. We do not think it is an ideal time to buy around the upper Bollinger Bands. If the CRO price does not break the resistance, it will come down to the level of $0.1, and that could be an ideal time to buy for the long term.
Otherwise, you can wait for the breakout; if it breaks the resistance, it will go up to $0.15, which is a good trade for the short term. Still confused about your investment decision? Read our unbiased and detailed CRO price prediction for a clear understanding!
The last four weekly candles of Cronos are green, and it is currently trading around the baseline of the Bollinger Bands, which suggests an ideal time to accumulate the CRO coin for the long term. Most other technical indicators are also bullish at this time on the weekly chart giving a green signal!