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CRO price steady as Cronos unveils winners of its accelerator program

CRO price moved sideways on Thursday after the developers announced the first cohort of its accelerator program. Cronos is trading at $0.1317, which is about 14% above the lowest level this month. 

Cronos accelerator program 

Cronos is a leading smart contract platform that was unveiled in 2021 by Crypto.com. It is an EVM-compatible platform that has superior speeds, lower transaction costs, and strong compatibility with other chains. Cronos is built on top of Cosmos SDK. 

In just a few months, Cronos has grown its ecosystem rapidly. It now has over 300 projects in all industries like gaming, non-fungible tokens (NFT), and decentralised finance (DeFi). According to DeFi Llama, apps in its ecosystem like MM Finance, VVS Finance, Tectonic, and Ferro have a combined total value locked (TVL) of over $1 billion.

In a statement on Thursday, Cronos unveiled the first cohort of developers who will receive funding as part of its $100 million accelerator program. These developers are spread across all industries like Web3 Gaming, Social Fi, and DeFi among others. Some of those developers are Eyeball Pool, The New Resistance, Wild Forest, and Bubble Maps.

Bubble Maps is a platform that provides auditing and analytics visualization tool for tokens and NFTs. Meshlink, on the other hand, is an all-in-one smart-contract management and transaction analytics platform for Web 3 teams. Glass Finance is a DeFi protocol that offers a Discretised-Liquidity-AMM model to improve efficiency. In a statement, Ken Timsit, Managing Director of Cronos Chain said:

“Cronos is dedicated to supporting a vibrant and growing ecosystem of dApps and users of DeFi, GameFi, SocialFi, and infrastructure analytics. Ultimately, this first cohort of the Cronos Accelerator Programme established a precedent for our program to champion projects that have the potential to lead the way in engaging and onboarding the next generation of Web3 users.”

More smart contract platforms have launched accelerator products worth billions of dollars. For example, Avalanche has two programs known as Rush and Multiververse that are providing over $600 million to developers. Just this week, Kadena Eco announced its inaugural list of its grants recipients.

CRO price prediction

The four-hour chart shows that CRO price rose slightly after the Federal Reserve decision. This performance was in line with that of other cryptocurrencies like Ethereum and Solana. It has crossed the 25-day and 50-day moving averages. The two have even made a bullish crossover pattern. 

Cronos has formed an ascending channel shown in blue. It also moved slightly above the important resistance at $0.1285, which was the chin of the double-top pattern. Therefore, the coin will likely continue rising as buyers target the key resistance at $0.15.

The post CRO price steady as Cronos unveils winners of its accelerator program appeared first on CoinJournal.

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The industry will emerge stronger after crypto winter, says Valkyrie CEO

The cryptocurrency space has been in a bear market for the past few months, but some industry experts believe it will emerge stronger.

Valkyrie CEO Leah Wald told Blockworks in an interview that she believes the cryptocurrency market will emerge stronger from the ongoing crypto winter. 

The crypto market has lost more than 60% of its value over the past nine months. The total cryptocurrency market cap dropped from the all-time high of $3 trillion to currently stand around $1 trillion. Wald stated that;

“Having been through a couple cycles now, I think what’s most interesting to me that I also think we’ll see is just all the innovation that comes out of bear markets. There’s always a cleansing that happens of companies that were not well-suited from a foundational level, that were not strong, and that were fads, not trends.

So we’ll see various blockchains come out stronger than ever, and they’ll have more of a differentiated placement in everybody’s minds, rather than what I feel for the past year has been an undifferentiated understanding in the retail market of ‘crypto’ encompassing everything. There will be more of an understanding of who is strong, who needs to be watched and who wants to be a part of which ecosystem and why.”

The United States Securities and     Exchange Commission (SEC) has rejected numerous Bitcoin spot ETF proposals, including those submitted by Valkyrie. However, the CEO said she is not giving up on gaining the approval needed to list the spot Bitcoin ETF. she said;

“We absolutely are still working toward our goal of bringing the holy grail — a spot bitcoin ETF — to market, especially when considering how much demand bitcoin futures ETFs have seen.

We still think that until a crypto exchange registers with the SEC, we’re not going to see spot bitcoin ETF approval. So we’re definitely, unfortunately, in a holding pattern there waiting for an exchange. Exchanges can take 12 to 18 months for approval once registering with the SEC. Unfortunately, that’s probably a realistic timeline.”

Bitcoin is trading above the $22k level after recovering from the losses it recorded earlier this week. 

The post The industry will emerge stronger after crypto winter, says Valkyrie CEO appeared first on CoinJournal.

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Mercedes Benz taps Polygon for a data-sharing platform

Daimler South East Asia, part of the Mercedes Benz Group announced that it shall build its blockchain-based data sharing platform on Polygon, an Ethereum Layer-2 scaling solution.

The choice of using Polygon adds to the widespread adoption of Polygon across various sectors around the world.

The Acentrik platform

The new data sharing platform by Daimler South East Asia will be called Acentrik and will enable enterprises to buy and sell data in a decentralized environment.

In addition, although the platform is a product of the Mercedes-Benz associate, the blockchain platform will also be used to trade data from a wide range of industries including insurance data, clinical trials, and many others.

And unlike most other similar decentralized data platforms, the data on Acentrik will not be stored on the blockchain. A non-fungible token (NFT) will instead be used to represent each data set on the blockchain. Each of the NFTs will store specific metadata.

Why Mercedes-Benz settled on Polygon

According to reports from Daimler South East Asia, the buying and selling of data will be conducted on Polygon and Ethereum Rinkeby testnet. Additionally, to protect the monetary value of data, businesses will be expected to use stablecoins to make payments.

But since the transactions will need to be done on Polygon, users will also be required to pay gas fees using the MATIC token, which is the native token of Polygon.

Once a user makes all the necessary payments, they can access the data which will be accessible on AWS 53 or IPFS.

While commenting about the development, the co-founder of Polygon, Sandeep Nailwal, celebrated the feet through a tweet that said:

“Mercedes Benz is the latest brand to be Powered By Polygon Onwards!”

And following the news, the price of MATIC jumped by 10% to hit a daily high of $0.9078. At the time of writing, the coin was still bullish and was trading at $0.8734.

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