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Highlights
- Chromia, a scalable blockchain platform, has gained a lot of traction due to its focus on crypto gaming and NFTs.
- The Chromia crypto (CHR) has been generated massive interest following Binance's announcement that it is offering new users an opportunity to collect ALICE tokens.
- CHR is ranked 158 on CoinMarketCap and is currently trading at US $1.15 with a 24-hour trading volume of US $1,548,677,325.
The metaverse coins seem to be having a ball. Since the phrase metaverse popped onto the crypto scene, all the blockchain-based games appear to be rallying. Be it be Mines of Dalarnia, Axie Infinity, Decentraland, The Sandbox, all have seen impressive rallies over the past two weeks. The latest on the list is Chromia (CHR), which seems to have taken off and registered massive gains of late.
Chromia, a scalable blockchain platform, has gained lots of traction due to its focus on crypto gaming and NFT's. Chromia (CHR) gives the users a single private key login (SSO) to play several games. Besides, they can also store data and save data on the blockchain.
The Chromia crypto has generated massive interest following Binance's announcement that it will be offering new users an opportunity to collect ALICE tokens – CHR’s blockchain-based game – as a reward program. In order to collect the ALICE tokens, the users must complete the KYC process on Binance, following which they can earn the reward.
Also read: Will Unido EP (UDO) crypto’s rally last for a while?
What is CHR crypto?
As an open-source, public blockchain, CHR crypto was launched in 2019 and it aims to provide a solution to the scalability issues of the decentralised applications (DApps). The crypto is compatible with both Binance Smart Chain and Ethereum and works on the Proof-of-Work (PoW) consensus. Created by ChromiaWay, the Chromia blockchain has successfully adopted decentralised finance (DeFi) and blockchain-based gaming applications.
Also read: Can IOTX crypto touch US$0.5 mark by 2021?
Is it a good investment?
CHR is ranked 158 on CoinMarketCap and is currently trading at US $1.15 with a 24-hour trading volume of US $1,548,677,325. At the time of writing (BST 1:30 pm), CHR was up by 33.58% in the last 24 hours. CHR currently has a live market cap of US $492,897,013 with a circulating supply of 429,822,500 CHR coins.
In fact, CHR has been on a bullish run since 4 November, following the collaboration with Revolve Games. The partnership catapulted CHR's price from US $0.43 to US $0.84 in less than 24 hours. Experts feel due to the Binance reward program, it has gone up beyond the US$1 mark.
With all the metaverse tokens seeing a bullish run of late, investing in such tokens seem to be the most obvious choice at present. One could get sceptical investing in such tokens following the Squid Games incident, but one important thing to note is Squid Games wasn't backed by either Netflix developers or any company. CHR, on the other hand, is strongly approved, with big exchanges supporting the token.
In the next five years, market experts are bullish on the CHR token and the impact metaverse has had on the crypto market. Experts predict that the CHR token could yield gains by +136% in five years, or one could see the price touching approximately US $240 by 2026. CHR is ideal for investors who want to cash in from long-term investments.
