Why Is Crypto.com Chain (CRO) Price Up Almost 20% In The Past 24 Hours?

crypto.com chain

Crypto.com Chain’s cryptocurrency CRO is up almost 20% in the past 24 hours currently trading at $0.068 pushing its market cap to over $500 million.

What is the CRO Token?

For those of you not familiar with CRO, it’s the native token for the Crypto.com Chain platform. Launched in December of 2018 and according to its whitepaper:

“The mission of Crypto.com is to accelerate the world’s transition to crypto. The Crypto.com team has a clear vision to put cryptocurrency in every wallet with a strong focus on real-life use cases.”

One of Crypto.com’s main products is the MCO Visa Card which allows you to earn up to 8% annually if you top up the card using MCO. You can even spend your crypto on gift cards which give you an even higher 10% bonus. Check out this video of using the Crypto.com app to buy a starbucks drink:

Why did the price rise almost 20%?

The question of the day is why did CRO’s price rise almost 20% in the past 24 hours? Other than an awesome update that has been posted today detailing last month’s progress, on June 25th the team announced that on July 14th they will start shipping the MCO Visa cards to U.S customers. That’s huge news for US residents who are in the market for a crypto credit card.

If the launch of U.S cards goes according to plan, there is nothing stopping both CRO and MCO to continue rising in price, especially with the currently bullish crypto market overall.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

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