Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Cronos price fails to recover despite network upgrade

Source Fxstreet

Crypto.com’s Cronos chain completed its mainnet upgrade on Wednesday.
The mainnet upgrade enhanced Cronos’ compatibility with decentralized applications.
CRO price lost nearly 2% of its value in the past day.

Cronos (CRO) is an Ethereum Virtual Machine (EVM) compatible chain in the Cosmos ecosystem. A mainnet upgrade was completed early on Wednesday and the asset’s price declined nearly 2% in the past 24 hours.

Cronos completes mainnet upgrade

The Cronos mainnet upgrade that was completed on Wednesday improved the backward compatibility and Remote Procedure Call (RPC) enhancements on the chain. The Cosmos-based chain allows for the porting of apps and smart contracts from Ethereum and EVM-compatible chains.

Cronos announced in an official tweet that the mainnet upgrade was completed on April 17.

And we are back! the upgrade was completed smoothly and all services are online. Thank you for your support :) https://t.co/rMPqcnrkCY
— Cronos (@cronos_chain) April 17, 2024

CRO’s blockchain is one of the few chains that exist at the intersection of Ethereum and Cosmos and the open-source blockchain has now improved backward compatibility for dApps.

The chain is known for its fast finality and low-cost transactions. The chain competes with Ethereum and offers multichain interoperability for users.

CRO price is down nearly 2%

CRO, the native token of the Cronos chain, has seen nearly 2% decline in its price on Wednesday. CRO price is down nearly 15% in the past week. At the time of writing, CRO price is $0.1237 on Crypto.com.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

US Sept. PCE Preview: Inflation May Heat Up Again, How Will US Stocks, the Dollar, and Gold React?This Thursday (October 29), the US will release the September Personal Consumption Expenditures (PCE) price index. However, since the PCE report will be released after the Federal Reserve

Author TradingKey

7 hours ago

This Thursday (October 29), the US will release the September Personal Consumption Expenditures (PCE) price index. However, since the PCE report will be released after the Federal Reserve

Brent's $115 front month sits $4.6 above January — the $14 spread to WTI is the supply-risk premium December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.

Author Irene Q.

11 hours ago

December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.

Bitcoin is back above $80,000 — but 75% of the bounce was shorts, not buyers Bitcoin trades at $80,669, back above the $80,000 line after touching $79,145 on October 24. But 75.4% of the last 24 hours of futures liquidations were shorts, CME open interest fell 36,545 BTC in October, and spot ETFs lost $773.5 million on October 22-23. Price is up; positioning is down. Here is why the bounce is a squeeze, and the four things that would make it real.

Author Suzie

11 hours ago

Bitcoin trades at $80,669, back above the $80,000 line after touching $79,145 on October 24. But 75.4% of the last 24 hours of futures liquidations were shorts, CME open interest fell 36,545 BTC in October, and spot ETFs lost $773.5 million on October 22-23. Price is up; positioning is down. Here is why the bounce is a squeeze, and the four things that would make it real.

Gold rises above $4,050 ahead of Fed rate decision Gold price (XAU/USD) jumps to around $4,065 during the early Asian session on Wednesday, bolstered by lower oil prices. Traders await the Federal Reserve's (Fed) policy meeting later on Wednesday for signals on ‌the future path of US interest rates.

Author FXStreet

16 hours ago

Gold price (XAU/USD) jumps to around $4,065 during the early Asian session on Wednesday, bolstered by lower oil prices. Traders await the Federal Reserve's (Fed) policy meeting later on Wednesday for signals on ‌the future path of US interest rates.

Fed October Rate Decision Preview: Rate Hike Pause Has Become Consensus, How Will US Stocks, Dollar, and Gold React?The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide

Author TradingKey

Yesterday 10: 21

The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide

Popular Symbols