Crypto.com Jumped Over 150% In a Day – Here’s Why
Crypto.com (MCO) – now known as the Crypto.com Chain (CRO), is a high-performance blockchain solution that aims to drive global cryptocurrency adoption by facilitating fast, low-cost, and instant crypto payment transactions.
The development of the Crypto.com Chain also includes the creation of the Crypto.com Chain Token (CRO) — that will enable cross-asset intermediary currency settlement.
MCO was initially listed on Bittrex. Thereafter, Certik, a smart contract verification platform, confirmed the authenticity of the token after an exhaustive audit, after which the token was to be listed on Certik’s partner exchanges.
As per the project founders, increasing their user base from 50m to 500m and beyond requires utility and benefits beyond simple speculative trading. What MCO does is allow anyone to pay and be paid in crypto, any crypto, anywhere, totally for free. This is a critical missing piece of blockchain infrastructure and by providing it, the world will be able to move toward a truly decentralized crypto economy.
Thanks to a recent listing on an Indonesian exchange, the project seems to be well on its way toward hitting that milestone. The token appreciated as high as 170% or so over the course of March 11 and 12. By partnering with an Indonesian e-commerce company, the token will be able to integrate with the very large (260 million-strong) Indonesian economy for payments. CRO deposits are set to commence on March 13.
High trading volumes (nearly $700 million), most of which was conducted on Bittrex, drove most of the token’s action over the course of the price pump. High volumes were also recorded on South Korean exchange GOPAX, albeit with much lower price volatility. GOPAX complies with the Korean Financial Services Commission’s (FSC) guidelines, and popularity in the highly tech-savvy and pro-cryptocurrency South Korean economy is also a positive signal for the project.
The Crypto.com Vortex Trading Engine offers all crypto.com customers the true cost and best execution prices possible on the market without fees or markups, making Crypto.com a great place to buy crypto.
Vortex also pools liquidity from major exchanges globally and routes orders to ensure competitive execution prices, alongside a user-friendly app and preferential trading terms with all major exchanges.
Future services in the pipeline include more fiat top-up channels, adding fiat withdrawal options, and adding new trading pairs to the CRO base pair.
The news from Indonesia and South Korea are undeniably positive, and with a track record of providing useful services, growing their user base (and raising the funds needed to casually buy the crypto.com for an undisclosed amount probably in the millions), this is a project that is here to stay.