Crypto.com actively provides relief to Ukrainians, Cronos price maintains balancing act
- Crypto.com has poured donations to provide relief to the Red cross for Ukrainians hit by war.
- Proponents believe that the launch of NFTs on Crypto.com is a positive catalyst for price.
- Cronos price posted a 2% drop over the past week, as the token maintains a balancing act.
Crypto.com CEO Kris Marszalek announced that Crypto.com made a sizable donation to the Red Cross in support of Ukraine. Proponents believe that updates and the launch of NFTs on the Cronos Chain is a catalyst for the token’s price rally.
Analysts believe Cronos price could break into a rally
Cryptocurrency exchanges and firms have extended their support to Ukraine in response to Russia’s invasion of the Eastern European nation. Crypto.com exchange has made a sizeable donation to the Red Cross to aid relief efforts in Ukraine.
Kris Marszalek, CEO of Crypto.com, shared the announcement of the donation with his Twitter followers. Proponents believe this has acted as a catalyst fueling positive sentiment among investors.
Analysts believe that the recent launch of NFTs on Crypto.com has increased demand among traders. The popularity and demand of NFTs exploded over the past year. The addition of NFTs to Crypto.com acted as a catalyst, driving the number of users higher.
The exchange has witnessed a spike in activity and demand from users, with the addition of digital art and collectibles on its platform.
Cronos NFT ecosystem is
— Cronos (@cronos_chain) February 25, 2022
Shoutout to all the builders and artists out there https://t.co/z7P7lr3zyK
Crypto.com’s wallet now supports Cronos-chain-based NFTs, offering users the ability to store their digital collectibles in a single app.
The next NFT project arriving in the Cronos ecosystem is The Mad TreeHouse.
Analysts have evaluated the Cronos price trend and noted that the token could continue to see volatility in the short term. Analysts at the YouTube channel Practical Investing believe that Cronos price will find support at $0.39 after the token posted 2% losses over the past week.
FXStreet analysts have predicted that bears may take over if Cronos price hits $0.50. Analysts argue that Crypto.com’s native token could continue to bounce higher.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
