To begin with, the crypto market is in quite a frenzy today, it seems. Many new coins and exchanges are being launched or introduced. The trending news of all this is about crypto.com exchange.
Today, crypto.com, the Hong Kong-based cryptocurrency platform introduced its cryptocurrency exchange. The main focus is the mass adoption of cryptocurrencies as the exchange will enable around 1 million users to trade crypto through the Crypto.com web interface, trading API, or through its app.
Kris Marszalek, co-founder, and CEO of Crypto.com said that currently the exchange is in the beta testing phase and will go live on November 18th. Further, he added that the exchange supports limited cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), EOS, XLM, MCO, and USDT. The company expects to add more assets over time.
However, the exchange will be powered by its native token Crypto.com coin (CRO). The announcement claims that CRO staking will provide users with up to 100% discounts on trading fees. This is something worth noting.
CRO Coin Price Analysis:
Following the announcement, the CRO price skyrocketed. The Crypto.com price surged by 12% within few minutes and continues to increase. The CRO coin is currently trading at $0.040711 with a 16.38% increase against USD. The CRO/BTC price is at 0.00000467 BTC with a 17.51% rise and CRO/ETH is at 0.00021737 ETH with a 16.36% surge.
At present, the Crypto.com coin has a market cap of $473,376,106 USD with $22,826,240 USD as 24hr volume and circulating supply of 11,639,269,406 CRO.
Looking at the YTD price chart, one can see that the CRO price was having a bearish trend since mid-July. The growth in the price chart is a piece of good news for CRO. Hopefully, this trend continues.