The native token of a blockchain is crucial for its ecosystem. One token that is attracting attention is Cronos (CRO), created by Crypto.com to support a range of Web3 applications. With growing adoption in decentralized finance (DeFi) and gaming finance (GameFi), along with its importance within the Crypto.com ecosystem, CRO has significant growth potential.
Let’s take a closer look at CRO’s role and prospects, including the impact of Crypto.com’s strategic partnership with Trump Media & Technology Group (TMTG) in launching a crypto-asset-based ETF.
Read more: Trump Media Partners with Crypto.com, CRO Token Potential to Rise?
What is the CRO Token?
Cronos (CRO) is the native token of Cronos Chain, a decentralized and open-source blockchain developed by Crypto.com. Cronos is designed to support various Web3 applications, including DeFi and GameFi, and serve as the foundation for a more open metaverse.
CRO’s Role in the Crypto.com Ecosystem
As the primary token within the Crypto.com ecosystem, CRO serves multiple functions, including:
- Payments: CRO is used in Crypto.com Pay services, enabling fast and low-cost transactions.
- Staking: Users can stake CRO to become validators on the Cronos network and earn rewards from transaction fees.
- Trading and Investment: CRO is available on multiple crypto exchanges and is often used in incentive programs or rewards for Crypto.com platform users.
Partnership with Trump Media and CRO’s Potential
Recently, Crypto.com announced a strategic partnership with Trump Media & Technology Group (TMTG) to launch a crypto-asset-based ETF called Truth.Fi. This ETF includes various digital assets, including Bitcoin and Cronos (CRO). As the key technology partner, Crypto.com will provide infrastructure and custodial services for the ETF.
This announcement coincides with the conclusion of the first batch of CRO staking (20% yield), potentially encouraging more token holders to extend their staking periods. With increased exposure through this ETF, CRO could see wider adoption, positively impacting its price and demand.
The Future of CRO and Cronos Chain
As the Web3 ecosystem continues to expand and the adoption of DeFi and GameFi increases, Cronos has the potential to flourish. Crypto.com’s partnership with Trump Media, along with the launch of new products like crypto-based ETFs, could act as catalysts for the growth of CRO's price and utility in the future.
How to Buy CRO on Mobee
Follow these steps to purchase CRO via the Mobee app:
- Register and Verify: Sign up and complete the account verification (KYC) process.
- Deposit Funds: After verification, deposit funds into your Mobee wallet to facilitate purchases.
- Access the Trade Menu: Open the Trade menu at the bottom of the app.
- Select CRO: Find CRO in the asset list or search for "CRO."
- Choose a Trading Pair: Select a trading pair, such as CRO/USDT.
- Select a Transaction Method:
- Market Order: Buy at the current market price.
- Limit Order: Set your preferred purchase price.
- Enter the Amount: Input the amount of CRO you want to buy and review the transaction details.
- Confirm: Click “Confirm” to process the purchase.
Once the transaction is successful, you can find your CRO assets in the Wallet section.
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