The week continues quite interesting in the crypto ecosystem. Today the CRO coin managed to outperform BNB, the BINANCE token, how did this happen?
Crypto.com Coin (CRO), is named after the new tenth largest cryptocurrency on the market, thus managing to get BNB, the token of exchange Binance, out of the top 10 by market capitalization.
Thanks to the good fundamentals of CRO, its price has increased almost 300% so far this year, and more than 500% since the markets fell last March.
Crypto.com was founded in 2016, and its main objective is to increase the speed of adoption of cryptocurrencies worldwide.
The 11 largest cryptocurrencies by market capitalization. Source: CoinMarketCap
Services they offer include a physical debit card wallet, cryptocurrency exchange, MCO Visa card with no annual fees, and Blockchain Crypto.com, with which you can send and receive commission-free payments to anywhere. of the world.
The impressive increase in its price in recent months is due to a large growth in the volume of transactions, multiplied by 10 times since the fall of the crypto market last March.
The number of CRO users went from 1 million in September 2019 to 2 million today. This is all thanks to a well-structured ecosystem, with a team behind it focused on exponentially increasing project adoption.
Volume on the CRO - BTC chart. Source: TradingView
CRO cryptocurrency trend
From the daily chart CRO vs. USDT, you can clearly see the exponential appreciation of this cryptocurrency. It is getting closer to reaching its previous all-time high, left in July 2019.
The 8-day EMA and 18-day SMA moving averages have been following the uptrend, and functioning as dynamic supports. The 200-day SMA is also bullish today, supporting the medium and long-term trend.
Technical analysis of the daily chart CRO USDT. Source: TradingView
In the medium term, the trend is clearly solidly bullish. However, if we look at the weekly chart we can think that a pullback should start soon.
The 8-EMA and 18-week SMA moving averages are crossed higher, and may function as dynamic supports if the price looks to pull back.
Analysis of CRO, the cryptocurrency that took BNB away from 10th place. Source: TradingView
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