Thursday, June 8, 2023
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Extreme fear keeps Cronos consolidated even as DeFi wallet integrates with OpenSea

  • recently introduced a new NFT-focused feature to its DeFi wallet.
  • Crypto market growth is limited due to bearish pressure from the broader market.
  • Losses for Chronos holders hit an all-time high, with over 74% of investors far from profit.

With the combined value of all cryptocurrencies hovering around $900 billion, the crypto market is seeing worsening global market pressures. External factors usually help tokens in bearish times like this, but even those have failed so far. is the same example as its token Kronos fell to a four-month low.

Kronos prices do not move

suffer from the same shortage volatility Like other cryptocurrencies, Kronos is currently struggling to break through the $0.132 resistance. This level has been tested many times over the past four months and is in line with the current CRO price. is.

The lack of growth could also be attributed to the fact that Cronos is currently not perceiving enough buying pressure to push prices higher. The Relative Strength Index (RSI) around the neutral line verifies the same.

Chronos 24-hour price chart

This volatility in buying pressure is due to the presence of extreme fear in the market, as observed in the Crypto Fear and Greed Index. The same fears that have persisted over the past three months continue to lock the price of Kronos.

Crypto Fear and Greed Index

Profit Loses as Expands

The impact of price declines can be seen on the investments of CRO holders. After the CRO’s all-time high of $0.781, overall investor returns fell from 81.39% to just 23.36%. At the time of writing, his over 198,000 addresses, representing 74% of all investors, have suffered losses.

Kronos investors will suffer losses

Despite this, continues its efforts to develop its network consistently, with new upgrades arriving this week. On September 30th, the DeFi wallet integrated Minted Vault, allowing investors to passively earn token rewards.

Wallet is also integrated ethereum The NFT marketplace, OpenSea, allows users to search and purchase NFTs without having to visit the marketplace separately.

These efforts don’t mean much to the community, but they are a step in a positive direction that will have some impact on the price when CRO escapes bearishness.


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