Crypto.com Chain [CRO] soars by over 250% in seven days after UpBit listing

The cryptocurrency market saw a majority of the coins siding with the bull, in the seven-day timeframe. However, the coin that recorded the highest gain was Crypto.com Chain, a new entrant to the top 30 list.

According to CoinMarketCap, the cryptocurrency was trading at $0.0774 with a market cap of $312.72 million, at press time. The trading volume for the coin was more than $40 million, and the coin recorded a hike of over 250% in the past seven days. In the 24-hour timeframe, the cryptocurrency displayed a rise of over 9%.

The data for the cryptocurrency’s trading volume on CoinMarketCap was aggregated from a total of eight exchanges. First on the list was UpBit, one of the leading cryptocurrency exchanges around the world, where the coin was paired with Bitcoin [BTC], and recorded 66.89% of its total trading volume.

Second in line was Bittrex, another leading cryptocurrency exchange, where the coin recorded a trading volume of over $14 million. The other exchanges contributing to the coin’s march upwards were Indodax, GOPAX, CPDAX, ABCC, and DigiFinex.

The cryptocurrency started its journey north on 12 March, 2019. However, it gained momentum on 15 March, 2019, on the back of UpBit announcement. Additionally, the cryptocurrency pictured its highest valuation and market capitalization on the very same day.

Crypto.com is a payments and cryptocurrency platform, with Cyrpto.com Chain [CRO] its token. The platform’s main products are Crypto.com wallet and Card App, MCO Visa Card, and Crypto.com Chain.

Crypto.com Chain enables users to pay for their goods and services with cryptocurrency. They are also rewarded with cashbacks for using the platform. Further, the platform ensures the payment system is best suited for merchants, as it offers them an option to “get paid in crypto without being exposed to its volatility.”

The platform announced the listing of the coin on UpBit on 15 March, while also announcing the testnet launch for its first version a few days after. Kris Marszalek, the co-founder of Crypto.com, said,

“Our Chain team is on a tear recently – the Crypto.com Pay SDK shipped to merchant partners last week. On top of opening of the Pay platform to our 400,000 users this week, our team has scheduled to open-source the first version of Chain Testnet on Wednesday, March 20th as a part of a broader Dev Update.”