In this article we take a look at a review of the latest interesting news from the crypto projects Hedera, Cronos (CRO) and Beam.
At the end of this 2023, several news are brewing, including team expansion, launch of decentralized infrastructures, and strategic partnerships among leaders in the blockchain sector.
Let’s then observe the market trend of crypto HBAR, CRO, and BEAM, which in the last week have given satisfaction to their token hodlers.
All the details below.
Summary
Latest crypto news for Hedera, Cronos (CRO), and Beam projects
Starting from the most relevant news for the Hedera crypto ecosystem, let’s see how yesterday the “Hedera Global Governing Council” appointed a new president for its cryptographic organization.
We are talking about Charles Adkins, previously Global Lead-Business Development at Aptos, who will bring all his technological background and know-how related to the blockchain world to the board.
In Adkins’ curriculum, we find work experiences with Microsoft, EY, and Google, in addition to having previously held positions as vice president in the boards of LandVault and Polygon Labs.
He has also provided marketing services for successful companies such as Nike, Red Bull, and Walt Disney, demonstrating his versatile and cross-functional skills.
Among other things, he has also worked in the security of the Department of the Treasury of the United States, overseeing a staff of 120 people.
In joining the Hedera Adkins family, Nell has expressed his enthusiasm using these words in the council’s blog post:
“We have seen that the adoption by businesses and governments keeps the promise of enabling the use of new technology by the masses. Hedera’s approach to governance and relationships with some of the world’s largest organizations has put them in a great position to become the preferred distributed ledger technology (DLT) for broader use cases that require scalability and security.”
As for Cronos Chain, the Crypto.com exchange’s reference blockchain infrastructure, there are important updates on the technological infrastructure front.
The crypto start-up accelerator Cronos Labs has just announced the launch of the Cronos zkEVM in testnet, zero-knowledge rollup focused on Ethereum scalability.
This is amazing news for Cro-Fam, following the strong expansion of the zk world, which grew by 12.5 billion dollars in 2023.
Cronos zkEVM chain represents an hyperchain that uses the ZkSync stack to offer simplicity of use to developers who will soon be able to launch their decentralized applications in a secure, cost-effective, and scalable environment.
Among the other software engineers who have followed the testnet debut of the zk infrastructure, we find the team of VVS Finance, that of Fulcrom Finance, and finally Veno Finance.
Crypto.com is therefore following in the footsteps of other exchanges like Binance and Coinbase, which a few months ago launched their respective zk opBNB and Base networks.
With over 80 million users already registered on its platform, the Cronos team aims to further expand its offering and accelerate adoption in the Web3, DeFi, NFT, and self-custodial GameFi sectors.
Finally, speaking about the Beam universe, the most important news to mention here is the partnership last week with the leaders in the blockchain landscape Polygon Labs and Immutable for the development of a new frontier in the context of web3 games
In particular, the ongoing collaboration has given birth to Sphere, which is an NFT marketplace that aims to become a reference point and connection for the 3 cryptographic ecosystems.
Sphere was presented in the Beam blog post as “the only marketplace the gaming industry will truly need”
The marketplace leverages Immutable’s zkEVM and Polygon’s scaling solution to offer users instant settlement and near-zero fees.
The goal of Beam is to become a leader in the blockchain gaming industry, expanding the participatory possibilities of decentralized environments.
By joining forces, the extended community of the 3 projects is able to provide high-quality products aimed at users who take advantage of the best available technology and develop innovative gaming solutions.
Price analysis for HBAR, CRO, and BEAM
Now, moving on to the analysis of the prices of the cryptocurrencies belonging to the Hedera, Cronosc, and Beam projects, we can notice how all 3 have shown positive trends against the US dollar in the last week of trading.
In particular, in the last 7 days HBAR records a +21.53%, CRO a +10.35%, and BEAM an astonishing +49.19%.
Looking at the situation more closely and focusing individually on one asset at a time, we see how HBAR is at a crucial price level for the future price action of the coin.
Keeping the current zone of $0.08 for HBAR is indeed very important as one step higher we find the cluster of $0.09-$0.1 which represents the annual maximum zone.
Consolidating this price range and subsequently breaking the annual high means projecting the crypto to much higher levels ranging from $0.15 to the all-time high of $0.58.
On the other hand, a reversal of the trend could push HBAR back to being traded at $0.06 or even less in the case of a prolonged slowdown of the bullish trend.
However, be careful not to be deceived by false short-term movements: in the daily chart, HBAR is overbought and may experience a brief retracement in the coming days before further significant upward movements.
As for CRO, we can easily observe how from mid-October onwards the crypto has exploded, recovering part of the lost ground during the 2022 bear market.
Even in this case, maintaining the current quota means giving hope for a continuation of the upward trend in progress.
Instead, in case of a break of $0.09, we can easily understand that the bullish hypothesis becomes invalidated and prices will be pushed towards lower levels.
The most important resistance to break at this moment is at 0.12 dollars, where two strong spikes are concentrated. With a strong presence of sell orders, this could pose a challenge for the bulls.
Pay attention to the RSI because it signals a bearish divergence between the two local highs, with the possibility of a bearish breakout of the current chart pattern.
Among the 3 cryptocurrencies we are analyzing, CRO is definitely the weakest and has the least inviting price action to go long hunting.
Finally, for BEAM we can only congratulate ourselves on the growth of the crypto in recent weeks: in the last month the coin has risen by 180% with prices going from 0.0086 to the current 0.024 dollars.
Since its listing on major exchanges, from October onwards BEAM has only seen upward trends on the horizon with a positive organic trend and without any particular excesses.
The short-term price action is definitely bullish and the asset’s expansion phase could continue throughout 2024.
However, before positioning yourself on BEAM, it might be wise to wait for a retracement, thus avoiding the possibility of buying at the highs.
In support of the bulls, we can still observe that volumes remain high and could push further leg up to the riazlo. For the cryptocurrency, once the $0.027 mark is surpassed, it will be price discovery: be careful not to fall into FOMO.
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