With an uptick in the cryptocurrency market beginning this week, it seems like the people are back to buying tokens such as Cronos (CRO), FTX Token (FTT) and could soon be purchasing Acrana (ACR).
Leading cryptocurrency exchanges such as Binance, FTX and Crypto.com all possess native tokens that have exploded and are considered to have huge potential to do great things in the digital asset space.
FTX Token (FTT)
FTX is a leading cryptocurrency derivatives exchange founded by MIT graduates Sam Bankman-Fried and Gary Wang.
Founded in 2019, the exchange averages $10 billion worth of daily trading volume and includes over one million users.
While their initial motives were the cryptocurrency industry, the fast rate of success the exchange has experienced has sky-rocketed them to an $18 billion valuation in July 2021, which led the exchange to begin to offer stock trading to its US customers.
Its native FTT coin is the exchange token of the FTX ecosystem and serves as collateral for a series of benefits that FTX users can enjoy, including the likes of getting discounts on trading fees and receiving OTC (over the counter) rebates.
The FTT token is currently up 3.7% in the past 24 hours, trading at $40.99 at this time of writing.
The token hit an all-time high of $84.18 in September 2021 and currently ranks as the 27th biggest cryptocurrency in the world, according to CoinMarketCap.
Leading cryptocurrency exchange, Crypto.com recently re-branded its native token from the “Crypto.org Coin” to the Cronos token (CRO), which is now the utility coin of both the Crypto.org and Cronos EVM Chain.
The rebrand came down to Cronos’ decentralised nature as well as its Web 3.0 chain and its potential foundational infrastructure for the metaverse, according to analysts.
Its support of GameFi, dApps and the DeFi industry, an industry that grew tremendously in 2021, made it a sought-after ecosystem to be a part of.
With CRO going live in November 2021, the token witnessed incredible growth, with over 120 dApp builders choosing the Cronos ecosystem as the place to build its projects.
Currently trading at $0.389906, the token is down 11.3% in the past seven days but remains bullish in its plans to become a top-five public blockchain by TVL (total value locked) by the end of 2022.
Founded in February 2022, Acrana (ACR) is a decentralised financial infrastructure that aims to create a global virtual currency.
The goal for the Acrana project is to have its global virtual currency backed by crypto instead of the US dollar, which aims to help the global community.
Acrana (ACR) wants to appeal to those who've lost faith in the traditional financial infrastructure and those who believe cryptocurrency is the future. They place immense importance on its community, with the project being DAO-governed.
All decisions regarding the project are made by members of the community.
Acrana (ACR) uses staking as the project’s primary approach for building value, and the benefits it gives holders is that it’s a way to earn income on your crypto holdings as well it being an eco-friendlier process than cryptocurrency mining.
Acrana (ACR) is at the beginning of its journey, which includes community engagement through social media, the building of its platform as well as the creation of the ACR token.
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