CRO User Activity has spiked in the past month as interest in crypto reaches an all time high. Price has dropped 7% in the same time period, but is rapidly climbing back up.
Fundamental Data: CRO FCAS has gone up 15-points (2.36%) in the past month, driven by a 22-point (8.87%) spike in User Activity. Market Maturity also increased by 20-points (2.55%), while Developer Behavior remained stable.
Crypto.com began shipping its MCO Visa cards to Europe, its largest market.
The team launched ‘Crypto.com Private’, a package of premium rewards for paid MCO Visa cards.
The crypto.com app is now available in India.
Crypto.com joins the USDC ecosystem, offering up to 12% p.a. for holding USDC.
The CRO/USDT trading pair was added to BittrexGlobal, with rewards of up to $60,000 for trading and staking CRO.
Analysis: The project seems to be doing everything it can to bring crypto into everyday use. With Visa-branded credit cards, a mobile app where users can buy, sell, and spend crypto, and a $10 million URL, the project is on the right track to mass adoption.
Indeed, CEO and co-founder Kris Marszalek told CoinDesk that transaction volumes more than doubled between December and February, with app downloads also hitting all-time highs. With the devastating impact of COVID-19 on the global economy, Marszalek believes people are turning to crypto as a safe haven.
Flipside: The project has a complicated architecture with two tokens, CRO and MCO, which confines the benefits of owning MCO to receiving a credit card. So while the team is gaining attention with its MCO Visa card at the moment, the real long term success of the network is tied to the use of CRO. As the payment token for transactions and node rewards, CRO is more scalable and tied more closely to the growth of the network.
About Crypto.com (CRO)
Headquartered in Hong Kong, Crypto.com was originally launched as Monaco, a cryptocurrency credit card, in June of 2017 raising $26.7 million. The company’s stated mission, “to accelerate the world’s transition to cryptocurrency”, is accomplished through a number of endeavors, including a wallet, credit cards, robo-trading, merchant gateway, and lending platform.
Crypto.com is aiming to be a one-stop shop for the entire lifecycle of a cryptocurrency user through the ecosystem from lending, borrowing, investing, earning and spending. Every activity is linked back to their native tokens CRO and MCO through staking, which give them value.
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