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Ecosystem Report for Cronos Chain: Ambassador, Witnet, Price Action

Let's look into the performance of Cronos Chain so far this month, including protocol developments and price action of the CRO token.

Cronos Activity, Price Action

So far this month, Cronos Chain, the first Ethereum Virtual Machine (EVM)-compatible blockchain deployed on Cosmos, has logged some significant developments within its ecosystem. Here is a look at some of them:

  • Cronos Chain Ambassador Program: On Sept. 5, Cronos Network announced the launch of the Cronos Chain Ambassador Program. With this program, the chain seeks to onboard individuals who are keen on contributing to the development of Cronos as a community and ecosystem.
  • Witnet Random Number Generator on Cronos: Witnet, a decentralized oracle protocol announced on Sept. 6 the deployment of its Witnet Random Number Generator on Cronos Chain. With this feature, builders of Decentralized Applications (dApps) on Cronos can generate reliable randomness for their smart contracts.
  • Witnet Grant Program for builders on Cronos: Also on Sept.6, Cronos announced the extension of the Witnet Grant Program to project builders on the network. Through the grant program, projects that have been built or are currently building on Cronos and have engaged the use of Witnet Oracle for price feeds, randomness, data feeds, or GraphQL feeds are deemed eligible.

$CRO in September

According to data from CoinMarketCap, $CRO exchanged hands at $0.1056 at press time. In the past 15 days, the price per CRO coin has posted a double-digit decline as the value of the 26th-ranked cryptocurrency by market cap fell by 15%.

Interestingly, despite the consistent decline in the price of CRO since the month started, its trading volume has grown, data from Santiment showed. However, such divergence in an asset's price and trading volume can be indicative of buyers’ exhaustion, which can precede a further decline in the price of the asset.

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