Cronos Price Today

The current real-time Cronos price is $0.09 . CRO price has plummeted by 2.81% in the last day and increased by 8% in the last seven days. It’s important to note that the current Cronos market capitalization is $2,452,290,535. The maximum supply is coins, with a circulating supply of 26,571,560,696.00. CRO is ranked #38 in terms of market cap.

What Is Cronos Explained

Cronos Chain (commonly referred to as Cronos) is an open-source blockchain powered by the Cronos (CRO) token. The network was designed to be highly scalable and secure, as it’s used prominently within the Crypto.com ecosystem. While the network is popular, thanks to its cross-chain compatibility, it is relatively centralized due to the way its transactions are validated. 

Related: Crypto.com review: Is it worth using?

Outside of powering large parts of the Crypto.com ecosystem, Cronos’s primary purpose is to promote the adoption of crypto technologies, Web3, Decentralized Finance (DeFi), and the Metaverse. The network boasts several key characteristics, including low transaction costs, energy efficiency, and scalability. 

While the CRO token went live in late 2018, Cronos Labs, an extension of the Crypto.com exchange, formerly Monaco, launched the Cronos Chain mainnet in 2021. 

Inside The Cronos Network

The Cronos Chain is a decentralized blockchain integrated within the Crypto.com ecosystem. The native token of the Cronos Chain ecosystem is CRO; it’s used for staking, paying transaction fees, and attaining reduced fees on the Crypto.com exchange. People can also stake CRO to earn token rewards from newly launched assets, granting holders potential exposure to new projects.

Instead of implementing Proof-of-Stake (PoS), like Ethereum, Cronos has opted for the Proof-of-Authority (PoA) consensus algorithm, which enables validation by pre-approved authorities instead of staking. In this way, Cronos can offer high throughput and protection against Sybil attacks at the cost of centralization. The Cronos validator program is invite-only. 

Despite not being used for validation, people can stake CRO to earn rewards. Crypto.com also offers stakers a set of rewards related to its ecosystem and the CRO token. For example, additional Crypto.com card benefits, reduced trading fees, and the ability to participate in new token launches. 

Unique Aspects of Cronos

Cronos was created by Crypto.com, so CRO’s utility is primarily tied to its use in the crypto exchange’s ecosystem. Outside of its more typical uses (staking, paying fees), Cronos can be used within the Crypto.com Pay app to pay businesses and buy gift cards for many popular retailers. When paying with CRO, users can attain up to 20% cashback on any purchases. 

Crypto.com offers users a crypto debit card funded with cryptocurrency, including CRO, and used to buy goods and services online or in real-world establishments. People can stake CRO to acquire additional benefits like airport lounge access, rebates on subscription services like Netflix, and increased CRO cashback rewards. 

In contrast to many networks, Cronos is an interoperable blockchain. As it’s an Ethereum Virtual Machine (EVM) compatible project, Cronos can communicate directly with the Ethereum network. Moreover, it has integrated the Inter-Blockchain Communications (IBC) protocol, enabling it to communicate with Cosmos and any other IBC-enabled blockchains. 

Cronos Price History

CRO became available to investors in December 2018, with tokens selling for around $0.02035. Based on today’s prices, early investors would be in 292% profit. As the Crypto.com ecosystem expanded, demand for CRO increased, resulting in the token appreciating to a high of $0.155 by July 2019, roughly eight months after launch.  

While the remainder of 2019 was uneventful, 2020 saw CRO go on an impressive run, with the asset peaking in August at $0.2613. Unfortunately, CRO didn’t have enough steam for another leg up, ending the year at $0.05853. 

Over the next year, the Crypto.com exchange became a household name, and the Cronos Chain was announced, causing CRO to go parabolic. The token rose to $0.2562 in March 2021 before falling to $0.1153 in June. However, the end of the year saw CRO climb to an all-time high of $0.9698, a 4665% increase since launch. 

Following profit-taking and negative market sentiment, CRO fell sharply, going into 2022 at $0.6898 and ending the year at just $0.05576. Over 2023, CRO mostly stagnated, trading at around $0.05. However, toward the end of the year and early 2024, CRO climbed to a high of $0.182, although it now trades for $0.09 .