Crypto.com mainnet launch is set for March 25, 2021, in a few hours from now... The market has already anticipated that launch since Crypto.com token CRO has increased by 12% in the last 24 hours. However, once the mainnet launch is effective, it is likely that CRO will pump further.
Why does it matter?
CRO has been an ERC20 token so far. Therefore, outside the Crypto.com app and exchange, it had to be dealt with the drawbacks of the Ethereum network, i.e. high transaction fees. On CRO mainnet, the transaction fees would be much lower - e.g. the fees to send CRO would be only 0.01 CRO.
Furthermore, this mainnet will offer the possibility to stake CRO through delegators, and to get rewards with 20% APY, which is quite competitive.
How does it compare to Binance?
Less than one year ago, in August 2020, CRO market cap was pretty close to Binance coin BNB. Both of them were around the rank #10 . In the meantime, BNB has so much increased that it is now the cryptocurrency #3 in market cap, just behind BTC and ETH. Regarding CRO, it is now the #19... behind Vechain... Therefore, CRO has to catch up on the ground they lost vs. BNB. However, as BNB is now unreachable, Crypto.com has adopted a me-too strategy aiming to copy some of the BNB functionalities and to bring some new ones in order to differentiate and get a bigger share of the cake:
- Crypto.com offers a Visa card with cashback similar to Binance one, and quite competitive, with no fees at all for EUR payments... unlike Binance
- Crypto.com DeFi wallet was launched last year like the BSC (Binance Smart Chain). However, it has not grown as expected, probably due to Ethereum gas fees. With their own mainnet and low transaction fees, Crypto.com will be able to offer DeFi services competitive with the BSC...
- Crypto.com launched today their NFT marketplace, which is one of the few differentiators they have over Binance... If it works, it will pump high
The mainnet launch will take place only in a few hours from now... Or has already happened if you read this article on March 25...
As first step, you can already download the Crypto.com app and earn $25 Crypto.com (CRO) by registering / Referral code: 439km3wyjs