While the cryptocurrency market left behind a turbulent period, news of partnership came from 2 altcoin projects. After the partnership announcements, altcoin projects, which made their investors smile by experiencing price jumps, retreated somewhat, affected by the decline in the leading cryptocurrency Bitcoin (BTC). As Kriptokoin.com, we convey the announced partnership projects and details.
This altcoin price jumped with news of the partnership
The Cronos blockchain was recently integrated into Trust wallet, a leading cryptocurrency wallet provider. More than 25 million users keep their cryptocurrencies in their Trust wallet, further increasing the utility and adoption of the Cronos blockchain. The price of Cronos started to rise after its integration with the open source crypto holding application Trust wallet. With the news of the partnership, the Cronos blockchain has witnessed a surge in user activity. The Trust wallet has a total of 5 million active users worldwide.
According to the latest announcement from Trust Wallet, the EVM-compatible Cronos blockchain is now live on the network. Trust Wallet plans to scale its Web3 user community through CRO support. New partnerships made by the Crypto.com exchange are believed to fuel bullish sentiment among Cronos owners. In addition to partnerships, there is a surge in adoption of the Cronos blockchain in the crypto community, in projects like the Trust wallet. This is a bullish sign for Cronos owners as the CRO will find benefits in various projects in the DeFi ecosystem.
Cronos blockchain experiencing surge in on-chain activity
Crypto data intelligence platform IntoTheBlock has revealed a bullish sentiment for Cronos based on both on-chain and off-chain signals. Crypto.com exchange has recently added five tokens from projects based on the Cronos blockchain. This brings more users to the Cronos ecosystem and also increases the daily activity in the CRO ecosystem.
Analysts at CoinCodex believe that short-term sentiment on the CRO is neutral, with 18 out of 27 indicators currently showing bullish signals. Altcoin Cronos price has started to recover after the recent pullback and prominent crypto analyst CryptoTony_ has identified the potential for a bullish reversal on the trendline. The analyst identified a supply zone between $0.53 and $0.59. Analysts argue that the CRO price could confirm the uptrend by exiting the supply zone. However, further declines could lead the price to the $0.23 support.
Ferrum Network announces partnership with Algorand
Ferrum Network, an interoperability project focused on bridging heterogeneous blockchain networks, has become the latest partner in the high-performance blockchain Algorand (ALGO). According to the official announcement shared by Ferrum Network, the product line is now integrated with Algorand’s (ALGO) blockchain ecosystem. From April 2022, Ferrum Network’s Staking as a Service (SaaS) becomes available to all partners of Algorand (ALGO), including both existing and new projects. Now all products using the ASA token standard have access to Ferrum Network’s deals. Nick Odio, Ferrum Network’s vice president of partnerships and growth, highlights that this is Ferrum Network’s first integration with non-EVM blockchain.
This integration is Ferrum’s quest for Interoperability 2.0. It represents an important step. This is the first of many integrations Ferrum has completed with a non-EVM-compatible network and we are honored to have Algorand on our side for this.
At the end of the second quarter of 2022, Ferrum Network will also launch the mainnet version of the multi-chain token bridge for every Algorand-based altcoin. As such, many EVM-based altcoins will be seamlessly linked to assets minted via the Algorand Virtual Machine (AVM). Also, this integration makes Algorand (ALGO) seamlessly compatible with other non-EVM blockchains. Daniel Oon, Head of DeFi at Algorand Foundation, said he is confident the integration will improve the UX/UI and rewards of staking tools available in Algorand’s ecosystem, adding:
We are excited about Ferrum’s partnership with Algorand, this is The version allows users to choose a stake pool based on their time preference and earn rewards.
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