Crypto.com, a cryptocurrency company, has announced a name change to Cronos. The company’s new website and logo are now live. Cronos is up more than 15% on the news. The rebranding comes as the company prepares for its upcoming initial coin offering (ICO). Crypto.com was founded in 2016 and is headquartered in Hong Kong. The company offers a cryptocurrency wallet and card, as well as a range of other services.
Cronos will be competing against other companies that are also planning to launch ICOs, including Telegram and KodakCoin. Crypto.com has announced a name change to Cronos. The company’s new website and logo are now live.
Crypto.com’s coin (CRO) is having a good day. The coin surged more than 20% on Wednesday, and it continues to trade well above its previous levels.
What’s behind the surge? It might have something to do with the company’s rebranding. Crypto.com announced on Wednesday that it is changing its name to Cronos.
“We are excited to announce that we are rebranding our company to Cronos Group,” said CEO Kris Marszalek in a statement. “Cronos Group is committed to building a lasting company that will improve the daily lives of our customers by harnessing the power of blockchain technology.”
The move comes as the crypto market continues to rebound from its recent slump. The overall market cap has climbed above $240 billion, and many individual coins are up significantly over the past few days.
Crypto.com’s rebranding could be a sign that the company is preparing for even further growth in the future. For now, investors seem to be bullish on Cronos Group’s prospects.
Bitcoin (BTC) and Ethereum (ETH) prices have surged today, with Bitcoin reaching a new 2019 high of $9,614.70. Ethereum has also reached a new 2019 high, reaching $277.68 earlier today. Altcoins are also surging, with Litecoin (LTC) and Ripple’s XRP both up over 20%. The total market cap for all cryptocurrencies is now over $280 billion.
One of the more interesting projects to take the crypto market by storm is Cronos ( CRO -0.75% ). Formerly known as the Crypto.com Coin, Cronos is the token powering Crypto.com’s powerful exchange, which has grown in investor interest mainly due to a number of marketing efforts tied to the National Basketball Association as well as advertisements featuring popular celebrities.
Today’s price action appears to be the result of both reduced geopolitical pressures and increased investor interest around the recent rebranding of Crypto.com Coin to Cronos. This rebranding highlights Cronos’ focus on its Cronos chain, which allows developers to launch decentralized finance (DeFi) applications on top of this network.
Cronos is currently trading at $0.12, up 6.7% over the last 24 hours. Cronos will be competing against other companies that are also planning to launch ICOs, including Telegram and KodakCoin. These companies are looking to capitalize on the current hype around cryptocurrencies and blockchain technology. However, it is still unclear whether or not these ICOs will be successful. In light of this uncertainty, it’s important for investors to do their own research before investing in any of these tokens.