Updates in the crypto world: New coins, New chances
There are listings of new coins every day. Hence the number of products in the asset class continues to grow—regardless of whether the overall market value is rising or falling. BTC, ETH, and many other tokens that trigger the speculative frenzy cause new cryptocurrencies with a range of utilities to enter the market.
China is currently conducting beta testing of the digital yuan. Soon, other major governments will also take action. Hence, digital dollars, euros, pound sterling, yen, and many other trading methods will enter the market.
First Arab crypto coin UEDC: should you trade?
The United Emirates Decentralized Coin (UEDC) has suddenly appeared last week. The official currency of the UAE is the dirham, with an exchange rate of 0.27 against the US dollar. On November 11, the dollar was worth 3.67 dirhams. It is not clear whether sovereign states sanction UEDC. In other words, the jury is still inconclusive whether UEDC is another revolutionary and evolutionary token or will fall into the trap of the encrypted trash can.
Besides the name itself, the token’s closest connection to the Middle East seems to be the camel picture in the logo.
At the same time, as of November 9, UEDC ranked 3,603 as the leading cryptocurrency on CoinMarketCap. This ranking makes it higher than the more than 10,200 other cryptocurrencies floating in cyberspace.
The cryptocurrency’s website listed April 8 as its “pre-sale” date. However, UEDC began official trading on October 7 and reached a high of $0.9815 per token shortly after its launch.
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3200 Binance Coins (BNB) have been raised in the pre-sale, meaning that one of the most anticipated DeFi launches in the Binance Smart Chain (BSC) is about to happen
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CRO coin: Should we expect a bullish or bearish trend?
One of the most notable cryptocurrencies in the past few weeks is Crypto.com’s cryptocurrency, the CRO code. As the Crypto.com application has become more popular, its digital currency has also achieved great success. Last week, the CRO soared by nearly 58%.
It now stands as the 23rd cryptocurrency by market capitalization. Crypto.com Coin is the native cryptocurrency token of the Crypto.com Chain. Moreover, Crypto.com Chain is a decentralized open-source blockchain. Crypto.com payment, transaction, and financial services company is the developer.
What’s the origin of CRO?
Crypto.com Chain is one of the products in the Crypto.com solution series. It aims to accelerate the global adoption of cryptocurrency as a means to strengthen personal control over money, protect user data, and protect user identity.
The CRO blockchain is mainly oriented to provide practicality for users of Crypto.com’s payment, transaction, and financial service solutions.
Companies that use Crypto.com’s checkout and invoicing functions allow their customers to pay in cryptocurrency. Then, these companies will immediately receive payment in CRO, stable currency, or fiat currency. As CRO is the native token of Crypto.com, it is not surprising that many companies choose it for payment.
CRO owners can also place their coins on the Crypto.com chain as validators and earn fees for processing transactions on the network. Additionally, CRO coins can settle transaction fees on the Crypto.com chain.
Within the Crypto.com Pay application framework, users can get up to 20% cashback by paying merchants in the CRO and up to 10% cashback by purchasing gift cards and point-to-point transfers to other users.
Thus, the coin should get more popular over time.