Crypto.com Joins Coinbase, Slashes Workforce by 20%
The Crypto.com CEO cited ongoing economic headwinds and the unforeseen FTX collapse for the firm’s latest downsizing.
Cronos price is $0.080705, down -0.56% in the last 24 hours, and the live market cap is $2B. It has circulating supply volume of 30,263,013,692 CRO coins and a max. supply volume of 30,263,013,692 alongside $23M 24h trading volume.
To truly understand it, you have to understand what the Crypto.com chain is. It's a product of Crypto.com, which serves as a solution designed to accelerate the global adoption of cryptocurrencies.
The Crypto.com Coin, known as CRO, is the native cryptocurrency token that runs the Cypto.com Chain. The Crypto.com Chain was created to build a network of cryptocurrency projects and develop a platform through which merchants can accept crypto as a form of payment. This means that businesses and users can receive all of their payments instantly through CRO or even stable coins, which makes it an efficient way through which they can transact digital money.
The total supply of CRO is limited to 100 billion coins, and all of them were created when the blockchain went online for the very first time. This makes CRO a cryptocurrency you cannot mine. The total supply of CRO was allocated for five different purposes, where 30% went to secondary distribution and launch incentives, 20% went to a capital reserve, 20% went to long-term network incentives, 20% went to ecosystem grants, and 10% went to community development.
The Crypto.com coin was launched by the Crypto.com company. This company was founded in June of 2016 by Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao.
You can say that they are the founders of CRO due to the fact that they founded the company, which in turn created the crypto CRO.
The Crypto.com Coin (CRO) is used for providing utility to the users of Crypto.com's trading, payment, and financial service solutions throughout their entirety.
CRO owners have the ability to stake their coins on the Crypto.com chain and act as a validator. Here, they have the opportunity to earn fees for the part of processing transactions within the network.
Furthermore, CRO coins can be used to settle transaction fees on the Crypto.com Chain, and within the framework of the Cyrpto.com pay payments app, users can even get cashback of 20% by paying merchants exclusively through the usage of the CRO token and up to 10% through purchasing gift cards or even making peer-to-peer transactions to other users.
Furthermore, the Crypto.com application allows users to earn token rewards when they select listings through the process of staking CRO. They can gain an annual interest of up to 12% on their Crypto.com coins by staking them on the exchange app or through the metal Visa card.
CRO can be seen as a method through which the Crypto.com platform is powered and which fills the role of increasing the adoption of cryptocurrencies on a global scale.
The company is continuously working on finding and developing new use cases that allow users to leverage the cryptocurrency and enhance their experience with using money. The more CRO is used throughout crypto market locations, the CRO price or the coin price increases. The CRO price today will be different from the one it is tomorrow.
If you want to buy, sell, or tradeCrypto.com Coin (CRO), you can do so on exchanges such as Bkex, Upbit, Crypto.com, OKEx, and BitMart. More details on buying CRO is available on our article. Its market cap is huge, and this is due to its current price. The coin price today defines the market cap as well, which means that as the current price changes, so will the market cap and the coin price. It is a much more effective method of money transfer when compared to fiat currencies, and its live price showcases this. It is a unique coin option that many financial services might adopt in the future due to its trading capabilities, deep liquidity, and availability on a lot of cryptocurrency exchanges. You can get CRO on many exchange variants, where you can engage in trading, and the more it ends up trading, the higher its market cap will get.
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