3 Possible Reasons Behind Cronos’ (CRO) 50% Weekly Increase.

The native token of the Cronos and Crypto.com ecosystem has seen impressive gains in the past 24 and 168 hours, having risen above $0.11 for the first time since June.

These are some of the possible reasons behind this big rally.

Roadmap provided

On the eve of the US election, Crypto.com CEO Kris Marszalek outlined the company’s roadmap for the coming years. It included several new features that users will be able to take advantage of, such as new crypto offerings, adding stock trading, as well as banking and card services.

The first to launch should be Level Up, a rewards and benefits program designed to incentivize customers to use various services on the platform. Next up should be the web application and various artificial intelligence (AI) development tools for Cronos’ native blockchain.

In 2025, the exchange plans to expand its on-ramp growth and launch a dedicated rewards program for bitcoin users. Later in the year, Crypto.com will focus on institutional clients by offering custody solutions. It also plans to double down on AI features by launching these trading tools as well as its own stablecoin.

The announcement on November 6 led to an immediate rally for the native token (CRO), which, at the time, rose 20% to $0.095. However, it had rallied in the following days before today’s rally.

Expanded Google collaboration

The other notable news coming from the Crypto.com ecosystem this week was related to the blockchain network developed by Cronos Labs: Cronos. As reported yesterday, Cronos Labs expanded its partnership with Google Cloud to bring the cloud computing provider on board as a Cronos validator.

The relationship between the two entities will now expand between their early stages of boosting the Cronos Labs accelerator program and foster growth and innovation.

“First, it improves the security and reliability of the entire network. Second, it makes the Cronos Accelerator program even more attractive to startups. Finally, it opens the door to the creation of a new generation of innovative decentralized applications that use the data processing, computing and artificial intelligence capabilities of Google Cloud. – said the managing director of Cronos Lab, Ken Timsit.

Global resurgence of the market

Last but not least, we will talk about the reactivation of the market in the last few days. Since it became almost a guarantee that Donald Trump would be the next president of the United States, the entire market fled. Bitcoin hit a new all-time high, while many other altcoins posted impressive double-digit gains since November 5th.

CRO also took advantage of this ongoing trend but, perhaps for the reasons mentioned above, is the best performer on a daily basis. It rose again in the last 24 hours to just over $0.11, which became its highest price since June 10. It is now trading at $0.1035, which is still 22% higher than yesterday’s valuation and up 50% year-to-date. week

CRO USD. Source: TradingView SPECIAL OFFER (sponsored) Binance Free $600 (exclusive of CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!