Among the many crypto assets on the market, two stand out in terms of strength, let’s talk about Cronos and Solana in this in-depth look at their new features and performance.
The crypto Cronos (CRO)
The King of Titans touches €0.073042 falling 1.54% since yesterday.
The market capitalization of €1.845 billion puts Cronos at the 32nd position on CoinMarketCap.
The volume recorded during the most recent day was €20,461,333 with a circulating supply of 25,263,013,692 CRO out of a total of just over €30 billion.
Cronos is the native token of its own open source decentralized chain.
The blockchain that enjoys great energy efficiency, fast transactions and low costs is functional for programming in Web3, GameFi and DeFi in general.
Cronos supports EVM (Ethereum Virtual Machine) and Cosmos and enables inter-chain touch points.
In 2022, the digital currency dropped 90% in value, a fate common to almost all cryptocurrencies.
The peak of losses occurred in proximity to the Terra Luna and FTX ecosystem disasters with losses between 40% and 50%.
Sam Bankman-Fried with the failure of his company brought fear to the markets that are only now beginning to reopen.
While remaining solvent at all times, Crypto.com suffered some damage from the “bank-run” but entered 2023 from the area of the December lows with a good result.
In the meantime, the company last week launched an update (1.0) to its blockchain that was already usable but in beta since 2021.
The update is called Galileo and allows DApp and DeFi development with Solidity and compatible with EVM.
The ability to switch from Cosmos to Ethereum and vice versa means an ease in developing cross smart contracts bringing new capital to the Cronos Chain.
The update optimizes Mempool to improve TPS scalability, improves node storage by reducing it by 30% and reaction time by 50%.
It also improves smooth switching between Cosmos and EVM with related IBC incentive.
Solana, created by Anatoly Yakovenko and Greg Fitzgerald (former Qualcomm) provides decentralized finance (DeFi) solutions and is open source.
The chain had been in planning since 2017 but did not see the light of day until March 2020 in Geneva, Switzerland, where it is still based.
The Solana project fosters the creation of dApps and aims to improve scalability thanks mainly to its Proof-of-History (PoH)
Proof-of-History combined with Proof-of-Stake allow for less waiting for transaction validation and smart contracts.
The speed of transactions and the robustness of the project have made Solana among the most attractive Chains and even institutional players have entered with capital.
Solana (SOL) continues its positive trend in this 2023 but encounters a setback and has lost 2.73% since yesterday.
Today SOL is at €21.91 recording a volume of €673,645,310.
The token narrowly falls outside the top ten most capitalized cryptocurrencies but has reached a market cap of €8,141,635,298 with 371,526,126 SOL in circulation.
Solana is aiming straight for the €30 support, which roughly corresponds to the value it had before the collapse derived from the fear of contagion stemming from the FTX affair.
To return to these levels, Solana must hold the €19.00 support in the short term.