Arslan Butt
Cronos price forecast seems to be bullish above the $0.0618 level, as the double bottom pattern is extending major resistance near $0.0737. CRO has been performing exceptionally well, and it was regarded as the best performer yesterday, climbing double digits in the day’s trade.
Cronos is up 16% in the last 48 hours and has reached a weekly high of $0.074. The reason for its upward surge, however, could be attributed to Cronos’ trading volume increasing by 556% throughout the day’s trade, attracting strong positive views.
Daily Top 3 Gainers on #Bitget
$FREE / $USDT +11.93% @THE_FREE_COIN
$CRO / $USDT +9.20% @cronos_chain
$MAGIC / $USDT +8.97% @Treasure_DAOTrade now: https://t.co/fvjLq9i868 pic.twitter.com/QEhYgpU4Ml
— Bitget (@bitgetglobal) December 5, 2022
It is also worth noting that the Cronos (CRO) coin has received nearly $95 million in inflows since Sunday, making it jump in the indices. Cronos has increased by eight cents in the past seven days. Although the upticks in the Cronos (CRO) coin seem short-lived, it lost its momentum and dropped from the $0.074 level to the $0.066 level.
However, the reason behind its latest declining streak could be the bearish cryptocurrency market, which has had a negative impact on many cryptocurrencies, including Cronos (CRO) coin.
Crypto Market Cap Slips 2% Keeping Pressure on Cronos Price
The total market capitalization of all cryptocurrencies is $852.46B, a 2.00% decrease from the previous day. Meanwhile, the total volume of the cryptocurrency market in the last 24 hours was $37.55 billion, a 6.46% increase. DeFi currently has a total volume of $2.78B, accounting for 7.40% of the total 24-hour volume of the crypto market.
The total volume of stable currencies is currently $34.20B, accounting for 91.08% of the total 24-hour volume of the crypto market.
Cronos Price & Tokenomics
The current Cronos price is $0.0665 with a $94 million 24-hour trading volume. Cronos’ value has dropped by 7% over the recent hours and it’s now ranked 28th on the market with a live market value of $1.6 billion. There is a maximum supply of 30,263,013,692 CRO coins, and there are now 25,263,013,692 CRO coins in use.
What Causes Cronos to Rise?
As previously stated, Cronos (CRO Coin), the native cryptocurrency of Crypto.com, had the best performance on Monday, increasing by double digits during the trading session. Cronos hit a new weekly high of $0.074 the day before.
Cronos’ trading volume has increased by 556% during the course of the day, eliciting strong positive feelings. Since Sunday, the cryptocurrency has received approximately $95 million in inflows, causing it to rise in the indices. Moreover, CRO has gained eight cents in the last week.
Will FIFA World Cup send CRO Coin into the top 20 crypto rank by market cap?
— Crypto Kip (@CryptoKipTweets) November 19, 2022
The FIFA World Cup 2022 is currently in the quarterfinals, which has heightened global interest. The exchange benefits from Crypto.com’s numerous advertisements and initiatives.
As a result, the large audience is introducing new investors to Cronos’s potential prospects, which was seen as one of the key factors keeping Cronos prices higher. However, due to negative market conditions, the unexpected price increase may only last a short time. It is best to wait and observe before joining Cronos because it has already peaked.
Bearish Crypto Market
The global cryptocurrency market failed to extend its previous-day bullish rally and lost roughly $852.46B on the day. This occurred after Bitcoin (BTC) and Ethereum (ETH), two of the most valuable cryptocurrencies, fell below $16,000 and $1,200, respectively.
Bearish traders are signaling that crypto losses will continue into next year, as risk-averse firms scale back from a market roiled by the implosion of the FTX exchange https://t.co/Ljo1kOy4Ai
— Bloomberg Crypto (@crypto) December 6, 2022
However, the reason for the negative crypto market could be renewed concerns about increasing US interest rates, which tend to damage the crypto market and add to losses in various cryptocurrencies.
The U.S. dollar held firm against major peers on Tuesday, following its biggest rally in two weeks after strong services data in the United States fuelled bets the Federal Reserve may lift interest rates more than recently projected. https://t.co/06uQGWmgLn
— Intl. Business Times (@IBTimes) December 6, 2022
On the flip side, the broad-based US dollar staged a robust comeback, supported by stronger-than-expected US economic readings, which was another major factor that put any more gains in the Cronos (CRO) coin at bay. On the other hand, the strong services data in the United States has encouraged speculation that the Federal Reserve may hike interest rates more aggressively than previously anticipated.
The cryptocurrency market is currently bearish, but the coins listed below have massive upside potential. Let us explore.
Dash 2 Trade (D2T)
D2T is a cryptocurrency analytics tool that also functions as a decentralized trading platform, allowing users to backtest strategies and see how they performed in the past. It assists traders by allowing them to carry out transactions automatically without the need for human intervention.
Following the presale, the project will be listed on the BitMart and LBank exchanges. Despite the fact that the presale has only recently begun, the platform is rapidly approaching stage 3’s conclusion.
The platform’s native token, D2T, will be used to pay for platform services and participate in community initiatives and competitions. The cryptocurrency is currently in presale and has raised more than $8.4 million. Its presale is almost finished, with a 97% completion rate.
Calvaria (RIA)
Calvaria, a free-to-play game, defies conventional pay-to-earn gaming by awarding NFTs to users as soon as they sign up. As a result, game participants do not need any financial or technological resources. Calvaria’s early-round crowdfunding piqued the interest of investors. The first four stages of its presale sold out quickly, and stage five is almost 72% sold out.
Investors looking to purchase 30.77 RIA tokens for USDT 1 must act quickly before the presale ends. Calvaria has raised about $2.2 million since the presale began. The total project funding will be $3,075,000 when stage 5 is completed. Trading signals can also be used by traders.
IMPT – Less than a week left to buy presale
By putting carbon credits on the chain, IMPT’s team is making the world of carbon credits much more efficient than ever before. The carbon credit system was previously extremely opaque; it was only applicable to businesses, and trading with them was inefficient and out of date. Carbon credits can be traded on the blockchain as NFTs 24 hours a day, 7 days a week.
Two centralized exchanges, LBank and Changelly Pro will list IMPT shortly after its DEX launch. The IMPT presale has now raised $14 million and is almost fully subscribed. The IMPT token’s price has risen with each stage of the presale to $0.023.
Related news:
- Where to Buy CRO Coin 2022 Beginner’s Guide
- Best Crypto to Trade Right Now
- 20 Best Cryptocurrencies to Invest in 2022
Dash 2 Trade - New Gate.io Listing
- Also Listed on Bitmart, Changelly, LBank, Uniswap
- Collaborative Trading Platform Token
- Featured in Bitcoinist, Cointelegraph
- Solid Proof Audited, CoinSniper KYC Verified
- Trading Community of 70,000+ Members
This article was written for Business 2 Community by Arslan Butt.
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