- 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.