Crypto.com (CRO) Is Now Offering A Max Of 52% When You Stake CRO• February 26, 2022 6:19 pm • Comments
The Crypto.com coin, which used to be known as the basic exchange utility token for the popular crypto exchange Crypto.com, has recently been rebranded as ‘Cronos’ (CRO).
This rebranding is part of the company’s decision to continue to decentralize even further and offer new additional features to the token such as its new staking program.
The exchange has stated that CRO has the ability to perform faster transactions than Ethereum which makes it better for decentralized apps and smart contracts.
With that being said, traders and investors noted that the coin continued a price decline despite the new rebranding and new focus on decentralization.
After Coin Security renamed its #BSC to #BNB Chain, https://t.co/eCr5rni68L decided to rebrand its token #Crypto.org Coin (CRO) to Cronos (CRO)#BabyDoge #ADA #Solana #Bitcoin #Ethereum pic.twitter.com/z3kiPp4gmr
— Mengxin (@Mengxin23) February 18, 2022
FXStreet shares additional details that may break the current bear trend:
Crypto.com launched a new program, “Bitcoin Supercharger 10x booster bonus, following the rebranding exercise.”
The exchange allocated $2 million to rewards and invited users to stake Cronos and earn Bitcoin rewards. Crypto.com offered up to a whopping 52% pa in returns to investors in this program.
Proponents expected the event to act as a bullish catalyst for Cronos price. The token suffered a drop to $0.41 over the weekend.
Analysts at Central Charts have evaluated the Cronos price trend and predicted a continuation of the downtrend.
As Cronos price breaks each support, the downtrend is further confirmed. In the short term, analysts have a bearish opinion on Cronos price and set a target of $0.33 for the token.
FXStreet analysts believe that Cronos price consolidation is set to continue as the token struggles to break above $0.50, considered an important psychological barrier by investors.
Offering 52% in a staking program is a number that is much higher than average when compared to many other staking programs offered by other blockchains.
However, it is to be noted that the top number 52% is only able to be achieved by a certain number of investors as their is a capital limit in this limited program that Crypto.com is offering.
Additionally, only those who receive a specific NFT which will be airdropped during an event in the program will be able to achieve such staking rewards meaning that there is an element of luck.
At the moment, investors and traders are having mixed reactions about the rebranding and this staking program as it appears that they are not great enough catalysts to drive the price higher.
— JustBlake (@B2thelak3) February 18, 2022
Crypto.com App and Exchange users will receive BTC as rewards for staking CRO tokens in the Supercharger pool. 88 lucky participants will be able to boost their estimated rewards of ~5.2% by 10x for this event.
How do users know they’ve won? The exclusive “Supercharger 10x Booster” NFT will be airdropped to the winners’ Crypto.com NFT account at the end of the Charging Period.
Ownership of the NFT gives users the power to multiply their BTC rewards by 10x (up to 52% p.a.); the earnings will be automatically credited to their Crypto.com App or Exchange account after the Reward Distribution Period.
Users who participated in the LUNA Supercharger event, which ends on 19 February at 10:00 UTC, can keep their CRO stake in the Supercharger pool to be automatically carried over to the BTC event.
Cronos (CRO) currently is ranked the 17th largest coin with a total market cap of $10.6 billion and is currently known as the second most popular exchange token trailing only behind Binance’s BNB token.
— Crypto Top News (@TopCrypto_News) February 21, 2022
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