First Mover: Crypto.com’s Chain Token Dominated Markets in June With 33% Gain
Credit-card lender and wallet provider Crypto.com’s Chain (CRO) token surged 33% in June, dominating digital-asset markets as bitcoin, ether and XRP from Ripple all declined. Chart of Crypto.com CRO token returns versus bitcoinSource: TradingView Bitcoin (BTC), the oldest cryptocurrency and the largest by market value, fell 10% during the month, shaving its year-to-date return to 27%, as price volatility narrowed amid ongoing uncertainty about the future of the coronavirus and related stimulus packages.
Digital assets with a market capitalization of at least $1 billion, ranked by June returns Source: Messari Hong Kong-based Crypto.com raised $26.7 million in 2017 through a sale of its MCO tokens, which are paid out as rewards to credit-card customers. The company also has a payments app and cryptocurrency wallet (launched last month), and customers can earn interest-like rewards by staking bitcoin and other digital assets on its platform.
