{"id":514839,"date":"2023-01-05T01:20:54","date_gmt":"2023-01-05T06:20:54","guid":{"rendered":"https:\/\/ktsl888.com\/?p=514839"},"modified":"2023-03-08T07:26:15","modified_gmt":"2023-03-08T07:26:15","slug":"cronos-up-4-in-last-week","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/cronos-up-4-in-last-week\/","title":{"rendered":"Cronos (CRO) Up 4% In Last Week Amid Recession Fears"},"content":{"rendered":"
Crypto.com is one of the centralized exchanges that survived the market tribulations of 2022. Recent <\/span>analysis<\/span><\/a> done by CryptoCompare shows that the CEX had an average market share of 4.6% last year. Its native token Cronos, despite the challenges, was able to withstand the beating.<\/span><\/p>\n Although this is incredibly small compared to the <\/span>big shots<\/span><\/a> of the market, its mere survival could mean big things for its growth.\u00a0<\/span><\/p>\n The crypto market saw its value drop sharply as the bear market gripped the broader financial market. With major crypto institutions <\/span>collapsing<\/span><\/a> and the crypto market learning the <\/span>mistakes<\/span><\/a> of the 2008 financial crash, the industry is ready for a new start this year.\u00a0<\/span><\/p>\n The Federal Open Market Committee (FOMC) Meeting Minutes that kicked off yesterday certainly had an effect on Cronos (CRO) as a whole. After <\/span>dropping<\/span> in price in the past days, the minutes gave new hope to investors as Cronos traded at $0.0597 and <\/span>gained<\/span><\/a> 2.4% in the past 24 hours.\u00a0<\/span><\/p>\n <\/p>\n Major cryptocurrencies like <\/span>Bitcoin<\/span><\/a> and <\/span>Ethereum<\/span> also rose after news of a seemingly dovish macroeconomic stance by the U.S. Federal Reserve.\u00a0<\/span><\/p>\n This dovish stance can be a sign that the consumer price index (<\/span>CPI)<\/span><\/a> might be lower than that of November\u2019s. A strong sign that the previous year\u2019s interest hikes have a strong effect on managing the inflation problem. However, it remains to be seen whether it did lower or not.\u00a0<\/span><\/p>\n Good macros aside, the central bank is still hawkish on the <\/span>acceptance<\/span><\/a> of crypto on the financial system. But with that said, the crypto market and the traditional financial space are <\/span>increasingly<\/span><\/a> intertwined with one another and with the International Monetary Fund pushing for regulation.\u00a0<\/span><\/p>\n Although the markets should anticipate the introduction of legislation, CRO investors should still focus on the macro trends that will have an effect on the market right now. Next week, the Fed is expected to release the CPI data that would have an effect on the markets.\u00a0<\/span><\/p>\n Meanwhile, investors and traders should watch a breakthrough on the current CRO resistance at $0.0607 which would be a bullish indicator of things to come. <\/span><\/p>\n But with the CPI data incoming, holding off any major decision could be the wisest choice to do.\u00a0<\/span><\/p>\nCRO And Macroeconomic Trends<\/strong><\/h2>\n
Image: Coingecko<\/pre>\n
Image: CryptoSlate<\/pre>\n
Investors Should Watch This Level…<\/strong><\/h2>\n