The native token of the Cronos and Crypto.com ecosystem has recorded impressive gains in the past 24 and 168 hours, having surged to over $0.11 for the first time since June.
Here are some of the possible reasons behind this massive rally.
Roadmap Provided
During the US election day fallout, Crypto.com’s CEO, Kris Marszalek, outlined the company’s roadmap for the next few years. It included several brand new features that users will be able to take advantage of, such as fresh crypto offerings, adding stock trading, as well as banking and card services.
The first to be launched should be Level Up, a rewards and benefits program designed to incentivize customers to use various services on the platform. Next in line should be the web app and several artificial intelligence (AI) development tools for the native Cronos blockchain.
In 2025, the exchange plans to expand its fiat on/off ramp growth and release a dedicated rewards program for bitcoin users. Later during the year, Crypto.com will focus on institutional clients by offering custodial solutions. It also plans to double down on AI features by launching such trading tools, as well as its own stablecoin.
The announcement on November 6 led to an immediate rally for the native token (CRO), which, at the time, surged by 20% to $0.095. However, it had retraced in the next few days before today’s rally.
Google Partnership Expanded
The other notable news coming from the Crypto.com ecosystem this week was related to the Cronos Labs-developed blockchain network – Cronos. As reported yesterday, Cronos Labs expanded its partnership with Google Cloud to onboard the cloud computing provider as a Cronos validator.
The relationship between the two entities will now expand between its initial stages of boosting Cronos Labs’ accelerator program and will foster growth and innovation.
“First, it enhances the security and reliability of the whole network. Second, it makes the Cronos Accelerator program even more appealing to startups. Finally, it opens the door to the creation of a new generation of innovative decentralized applications using Google Cloud’s data processing, computing, and AI capabilities.” – said Cronos Lab’s managing director, Ken Timsit.
Overall Market Resurgance
Last but not least, we will touch upon the market revival in the past few days. Ever since it became almost a guarantee that Donald Trump will be the next US president, the entire market went on the run. Bitcoin charted a new all-time high, while many other altcoins notched impressive double-digit gains since November 5.
CRO also took advantage of this ongoing trend but, perhaps due to the reasons listed above, is the top performer on a daily scale. It shot up once again in the past 24 hours to just over $0.11, which became its highest price tag since June 10. It now trades at $0.1035, which is still 22% higher than yesterday’s valuation and 50% up compared to the same time last week.
