Crypto.com Chain Spikes 1,000%, But is This an Elaborate Pump and Dump?

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Summary

Just how much of the monthly circa 170 million CRO you get depends on how many MCO you held as an average for 12 months. By comparison, MCO’s market cap is $50 million, while CRO is at close to half a billion. It isn’t very clear why they rebranded, but controversy arose after they scrapped what they called an Assets Contract. Apparently what they got, however, was just a token that will be used to reserve platinum tiered debit cards. You’d think it would be the other way around since MCOs get free CROs, but that’s not the case.

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A very confusingly named crypto project has quickly risen up the crypto rankings to become a top 20 coin with it jumping some 10x in about three days.

The very newly launched ERC-20 token called Crypto.com Chain (CRO) has many excited about these stupendous gains, but there’s one problem: they can’t sell the CRO.

You see, there’s an innovation of sorts whereby there is no ICO, no pre-sale, no staking, no mining. Well, that’s if words don’t mean anything.

Technically this is sort of a continuous Initial Coin Offering whereby a tiny amount of the total supply, just 4%, has entered circulation by being purchased from an app run by CRO Protocol Labs as they call themselves.

The rest is to be distributed through an airdrop with people already seeing how much they will get in 2020, but they’re not able to actually sell this allocation.

Google doesn’t reveal anything about CRO Protocol Labs, but it’s the same team that had a “vanilla” ICO...

Read the full article @ TrustNodes