Crowds of new users flocked to Crypto.com’s CRO token throughout the past month. What is the data telling us about CRO adoption? Covered: CRO Price Update Looking Behind The CRO Adoption Curtain It’s been a hot past month for the major cryptocurrency exchange Crypto.com. After successfully launching a $1 billion marketing campaign and securing partnerships […] The post CRO Daily Active Addresses Soaring — Here Are The Metrics Behind Cypto.com Adoption appeared first on CryptosRus.

CRO Daily Active Addresses Soaring — Here Are The Metrics Behind Cypto.com Adoption

Crowds of new users flocked to Crypto.com’s CRO token throughout the past month. What is the data telling us about CRO adoption?

Covered:

  • CRO Price Update
  • Looking Behind The CRO Adoption Curtain

It’s been a hot past month for the major cryptocurrency exchange Crypto.com. After successfully launching a $1 billion marketing campaign and securing partnerships with some of the largest sports franchises in the world, blockchain analytics firm Santiment has shared a fresh set of data covering the surge in CRO adoption.

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CRO Price Update

It’s been an unstoppable week for Crypto.com. After securing the largest naming rights deal in history with the Los Angeles Laker’s Staples Center arena, CRO skyrocketed to just over $0.61 USD. 

However, the CRO train didn’t stop there. Currently, the token is still on a tear upwards, trading at $0.93.

As the token garners more and more attention, Santiment stepped in to drop off data to cover the historic rise we’re seeing from CRO, as well as a potential top that we could be seeing.

Looking Behind The CRO Adoption Curtain

The first metric from Santiment shows the exponential rise in user growth that CRO has experienced in the last month. Starting from November, the number of daily active addresses (DAA) on the CRO platform went parabolic, rising from 843 DAA to over 5,900.

Santiment does note that the token’s growth does not look sustainable in the near term. A nearly identical chart that Satiment shares in the growth in CRO’s social volume over the last month. Take note of the similarities between these two charts.


While both metrics look great, Santiment warns that CRO’s growth is eerily similar to the Solana (SOL) smart contract platform, which saw a swift decline in social traction following the token’s initial run-up to $215. 

Another not-so-bullish metric shows the heavy amount of exchange inflows CRO has seen as the price climbed. While there’s no dump in sight at the moment, Santiment warns that high exchange inflows typically correlate with larger retractions.

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Finally, the analytics firm covers the market-value-to-realized-value (MVRV) ratio. The metric represents the extent to which the current market valuation is overextended by dividing the total market value (MV) by its realized value (RV).

Looking at CRO’s 365D MVRV, Santiment says it’s a sign that basically screams “overvalued,” but I think if there’s anything to be learned from crypto, it’s that overvaluation in a bull run can do little to deter a token from flying higher.

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