Crypto.Com Price Prediction: Can CRO Reach $10?

Cronos (previously Crypto.com) is a cryptocurrency exchange and financial services platform that offers a variety of services related to cryptocurrencies. CRO is the native cryptocurrency token of the Cronos platform.

Cronos is a cryptocurrency platform with a range of services and products designed to promote the adoption and use of cryptocurrencies. The company's goal is to accelerate the global transition to cryptocurrency by making it more accessible and useful to people in their everyday lives. Cronos offers various services and products to achieve this goal, and its native cryptocurrency, CRO, plays a central role in the ecosystem.

Launched in November 2021, Cronos is an EVM-compatible blockchain created specifically to empower the Creator Economy. It facilitates various applications, including DeFi and GameFi, and plays a pivotal role as the fundamental backbone for the Metaverse. What sets Cronos apart is its ability to offer significantly swifter and more cost-effective transactions compared to the Ethereum mainnet. This enhances the user-friendliness and environmental sustainability of decentralized applications (DApps) and smart contracts.

In February 2022 the utility token associated with the Crypto.org Chain and the Cronos EVM Chain has undergone a rebranding process. It's now referred to as "Cronos," and can be found labeled as CRO. This name change isn't merely cosmetic; it's intended to better reflect the principles of decentralization and acknowledge the substantial growth within the Cronos ecosystem.

The introduction of "Cronos" is significant in the context of Web3 technology. It signifies a substantial advancement, positioning the Cronos ecosystem as an important player in facilitating the adoption and use of Web3 technology by a potentially vast user base, numbering in the hundreds of millions. This transition underscores the ecosystem's commitment to offering innovative solutions and services to meet the needs of a diverse and expanding user community.

One of the key goals of Cronos is to enable cryptocurrency as a means of payment. Users can link their Cronos Visa cards to their wallets and spend cryptocurrencies at millions of locations worldwide where Visa is accepted. Ultimately, Cronos’ goal is to promote the mainstream adoption of cryptocurrencies by providing practical use cases for digital assets and by making it easy for individuals to access and use them in their daily lives.

Crypto.com was founded by Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao. The company was originally established in 2016 under the name "Monaco" before rebranding to Crypto.com in 2018 and then to Cronos in 2022.

Kris Marszalek, one of the co-founders, serves as the CEO of Cronos. The primary motivation behind founding the project was to provide a platform that would make cryptocurrencies more accessible and useful in everyday life. They aimed to build a comprehensive ecosystem that would allow people to buy, sell, and use cryptocurrencies for various purposes, including payments, investments, and earning rewards.

The company's vision is to accelerate the global transition to cryptocurrency and to bridge the gap between traditional finance and the world of cryptocurrencies. They offer a range of services and products, such as a cryptocurrency exchange, a Visa card that allows users to spend cryptocurrencies, crypto staking and lending, and other financial services, all with the goal of making cryptocurrencies a more integral part of people's financial lives. The rebranding to Crypto.com in 2018 marked a more significant shift toward positioning the company as a comprehensive cryptocurrency platform.

The Cronos Chain, launched in November 2021, is a notable EVM-compatible blockchain specifically designed to bolster the Creator Economy. Its core mission is to provide robust support for various applications such as DeFi (Decentralized Finance) and GameFi, ultimately establishing itself as the fundamental infrastructure for the burgeoning Metaverse. A distinctive feature that sets Cronos apart is its ability to deliver significantly faster and more cost-effective transactions compared to the Ethereum mainnet. This enhanced speed and cost-efficiency contribute to making decentralized applications (DApps) and smart contracts not only more user-friendly but also more environmentally sustainable. Cronos stands as a forward-looking blockchain project that aims to cater to the evolving needs and aspirations of a rapidly growing and diversifying user base in the cryptocurrency space.

On January 18, 2023, the Cronos team completed its "Galileo" (version 1.0) mainnet upgrade, marking the end of the beta phase. During this time, the network processed over 65 million transactions for more than 1 million users without any downtime. Cronos v1.0 brings four key enhancements:

• Improved transaction throughput with mempool prioritization.
• 30% reduction in storage requirements for full nodes.
• Faster node startup times and general performance enhancements.
• Enhanced EVM/Cosmos interoperability with new Cosmos features, including IBC incentivization and IBC token transfer memo field.

The project also offers a user-friendly mobile app and platform where users can trade a variety of cryptocurrencies, including Bitcoin and Ethereum. Cronos offers various ways for users to earn rewards and grow their cryptocurrency holdings. This includes staking CRO, earning interest on cryptocurrencies, and participating in staking and DeFi initiatives.

The platform provides a range of financial services, including crypto lending and borrowing, a crypto credit card, and the ability to earn interest on deposits.

Cronos places a strong emphasis on security, including cold storage of user funds, multi-factor authentication, and insurance coverage for digital assets.

The native cryptocurrency, CRO, serves various purposes within the ecosystem. It can be staked to earn rewards, used for transactions and payments, and traded on various exchanges. CRO plays a pivotal role in the Crypto.com Visa card program, offering benefits and cashback rewards for cardholders.

In the realm of the Crypto.com Pay payments app, users have the opportunity to earn cashback rewards that go as high as 20% when they choose to pay merchants using CRO. Furthermore, for purchasing gift cards and conducting peer-to-peer transfers to other users, users can earn up to 10% cashback.

Turning to trading applications, the Crypto.com App presents users with the chance to accrue token rewards through staking CRO in select listings.

In addition, there's a potential for users to earn annual interest ranging from 10% to 12% on their Crypto.com Coins. This can be achieved by staking these coins on either the Crypto.com Exchange app or by using Crypto.com's metal Visa Card.

Taken together, CRO serves as a powerful tool driving Crypto.com's mission to enhance global cryptocurrency adoption. In this endeavor, the company continually explores and develops new use cases, empowering users to leverage cryptocurrency for greater control over their finances, data, and personal identities.

The total value locked (TVL) within Cronos has surpassed an impressive $781.86 million. This substantial TVL firmly establishes Cronos as one of the most substantial EVM-compatible chains. What sets Cronos apart is its unique position as the inaugural blockchain to facilitate seamless interoperability between the Ethereum and Cosmos ecosystems.

Among the dynamic suite of Cronos Chain dApps that actively foster the adoption of CRO as the primary method for transactions, notable examples include VVS Finance, Tectonic Finance, Ferro Protocol, MM Finance, and Single Finance.

The total supply of the CRO token is set to 30 million CRO. As of October 2023, the circulating supply is 25,263,013,692 CRO.

CRO is available for purchase on numerous cryptocurrency exchanges and platforms, including Binance, Huobi, Bittrex, OKEx, etc.