Crypto.com Coin (CRO) Added Almost 500 New Holders Daily, Last Month

Despite the cruel bearish market over the last month which saw top cryptocurrencies like Bitcoin, Ethereum, Solana, and Cardano tank to their lowest in months, some cryptos still thrived.

One such altcoin that seemed to come out of the choppy price action stronger was Crypto.com Coin (CRO). 

CRO’s Growing HODLer base

Crypto.com HODLers have been on a rise, despite the recent negative commentary stemming from the January 17 security breach that affected the network.

Interestingly, data from CoinMarketCap highlighted that the number of new holders of CRO, the native token of Crypto.com, has continued to see a steady rise over the last month. 

A total of 482 new addresses carrying the altcoin were added daily in the last month.

From January 16, when there were 200,466 unique addresses holding the coin, to February 14, when there were 214,950 holding Crypto.com Coin there has been a steady and gradual rise in CRO HODLers. 

The rise in new HODLers often presents the rising interest in an asset along with higher social confidence in the asset’s future trajectory.

While after the recent hack on the network, just a month ago, the rising confidence in the coin’s trajectory seemed unnatural, there were legitimate reasons for the same. 

HODLers Sticking to High Returns

Crypto.com’s extensive advertising effort brought a significant increase in demand for the CRO.

In fact, over the last six months, the Singapore-based platform has grown into one of the top ten largest cryptocurrency exchanges in the world by trading volume. 

That said, one of the reasons why HODLers seemed to rise was the coin’s high one-year ROI vs USD which stood at a staggering 423.07%, despite the recent drawdown.

At press time, the altcoin traded at $0.4682 noting a 7.40% daily fall in price and 5.54% weekly losses. 

Furthermore, even though CRO was down 51.47% from its ATH price of $0.96, over 60% of the coin’s HODLers were In the Money or making profits at press time. 

However, CRO’s downtrend has been in play since late November and the recent BTC gains too haven’t done much for the coin’s trajectory. Nonetheless, with high trade volumes and more HODLers onboarding the CRO fever, seems like a decent retail push could aid the coin’s uptrend in the mid-short term.