Identifying CRO’s hike potential on the back of Ukraine crisis

Crypto.com continues to build its brand on the back of its social presence. Notably, by partnering with the Red Cross Red Crescent, Crypto.com is making the most of the ongoing hype for crypto donations to Ukraine. 

The platform has already donated $1 million to the victims of the Russia-Ukraine conflict.

Crypto.com for Ukraine

For the same Crypto.com is making full use of ‘The Art of Giving’ collection of 40 NFTs, each worth $50 to $100. Through the sale of these collections, Crypto.com along with 33 other artists will be donating 100% of the proceeds. 

Naturally, these efforts would capture the attention of multiple investors. This would, in turn, drive Cronos’ adoption which is very necessary at the moment. 

Furthermore, the network once had over 9k investors. However, in the last few months, the figure has dropped down to around 1.5k.

Crypto.com daily active users | Source: Intotheblock – AMBCrypto

The lack of activity on-chain is pretty visible at the moment. Over the last three months, the total distribution of CRO supply has observed a shift from traders to cruisers. 

It seems that the cohorts that have been holding CRO for over a month have now changed their intention to hold it for a longer period of time. The increased adoption of Crypto.com has certainly played a massive role in changing their perception.  

It’s worth noting here that dominating about 60% of the supply these ‘could be HODLers’ can act as a huge support in CRO’s rise.

Distribution of Cronos’ supply | Source: Intotheblock – AMBCrypto

And, with the broader market signaling a bullish atmosphere, CRO would hugely benefit from its price. Up by over 9% (at press time) in 24 hours and 32.24% in the last 20 days, CRO is slowly but surely recovering from its 2022 losses. Thus, further attracting investors to bet on it.

Crypto.com Price Action | Source: TradingView – AMBCrypto