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Cronos (CRO) is the proprietary cryptocurrency of the famous crypto exchange platform Crypto.com. Upon its creation in 2021, Cronos brought several innovations and development to the crypto ecosystem. For instance, it was one of the first crypto assets to accommodate NFTs and DeFi assets on its blockchain.
Moreover, transactions ran faster on the Cronos blockchain, and it was tagged as an eco-friendly crypto asset. Of course, Cronos has an undeniable stance in the crypto ecosystem; however, despite these developments, the coin continues to struggle.
What has caused the decline of Cronos in recent times? What are some alternatives to Cronos? Are these alternatives fruitful investments? What does the future look like for these eco-friendly alternatives of Cronos? These questions, among others, will be answered in this article. Keep reading to learn more!
An official statement was released by Crypto.com in February 2021, stating that the crypto coin formerly known as "Crypto.com Coin" will be officially known as Cronos (CRO). Upon its launch, CRO was one of the first crypto assets compatible with the Ethereum Virtual Machine (EVM). This characteristic made it very efficient and easy to use for transactions.
However, in the past months, Cronos has been undervalued, which ultimately affects its price. A major reason for this is that there aren't enough talking points on the coin. Thus, there isn't enough buying pressure to sustain a steady rise in value. At best, the price fluctuates between highs and lows. Although the creators are endeavoring to increase the value of the asset through strategic partnerships and innovations, the asset continues to struggle.
The crypto market is a very competitive one, where some assets struggle with consistency and relevance, and others thrive. Without further ado, let's consider some alternatives to Cronos. These coins are suitable investments, and just like Cronos, they are eco-friendly:
The IMPT token qualifies both as an eco-friendly alternative to Cronos and a healthy investment. The project seeks to instill environmental awareness and consciousness in every crypto user and investor, as its primary objective is to reduce the world's carbon footprint.
IMPT achieves this objective by granting carbon credits to individuals and companies who conduct transactions using the token. Carbon credits are a kind of permit that allows companies emitting greenhouse gases to release such gases to a certain limit. Companies without these permits go through the financial costs of polluting the environment. Therefore, to reduce such costs, carbon credits become useful.
The creators of IMPT have partnered with producers and sellers of consumer goods, such that when transactions are conducted using these tokens, buyers get carbon credits. These carbon credits can be minted as NFTs. As such, they can be kept or sold at a profitable price to companies or individuals who need them.
In terms of sales, the IMPT token is doing quite well. Although it is still in its period of pre-sale, more than 100 million tokens have exchanged hands. This has resulted in raising more than $2 million in sales. More so, all indications point out that the token will continue to do well. The product being sold is quite valuable, and as the world becomes more environmentally aware, the value of carbon credits will continue to increase.
The infamous memecoin taking the crypto ecosystem by storm is another worthy alternative to be added to this list. It has proven to be a worthwhile investment in its short period of existence. Also, it is an eco-friendly crypto asset with a fantastic roadmap and pattern for growth.
TamaDoge was created as a doorway to a world of possibilities – the Tamaverse. The Tamaverse is a virtual reality that allows its users to raise pets by acquiring and upgrading NFTs. These "virtual pets" are raised and nursed to maturity until they can compete with other players. Whoever wins this contest is rewarded with Dogepoints, which can ultimately be monetized.
TamaDoge has proven to be a valuable coin. After its official launch in July for pre-sale, it has raised more than $19 million. After its listing on OKX, a popular exchange, the coin has made over 150% gains for early investors. With TamaDoge's future plans, buying and holding TAMA tokens proves to be a worthy investment of choice.
The Cardano token (ADA) is one of the most prominent cryptocurrencies available on the market today. It has a very flexible network which allows smooth and quick transactions. Cardano has built a sustainable network to accommodate other cryptocurrencies to be built on its network.
Because of its unique blockchain system, transactions take less time. Also, less energy is used on the blockchain, making it sustainable and eco-friendly. Cardano token was built to improve on the pre-existing template set by Ethereum. It is an improvement in the technology on which ETH operates.
Regarding the Cardano market, things look quite impressive for the token. Since its launch, more than 34 billion ADA have been in circulation resulting in a market capitalization of close to $15 Billion. This is an impressive feat for this digital asset, having been in operation for only three years. Without a doubt, the Cardano token is a worthwhile investment.
BitGreen is another impressive eco-friendly cryptocurrency that is doing well in the crypto ecosystem. Like other eco-friendly cryptocurrencies, it rewards environmental sustainability activities. Think of the various activities such as biking, hiking, and eating vegan as having financial rewards. BitGreen hopes to achieve an environmentally sustainable planet and is using a reward program to achieve this mission.
BitGreen has set a goal to raise $1 trillion for environmental sustainability. The platform has also partnered with organizations and vendors that offer these activities to the public. Participants can therefore be encouraged with BitGreen tokens after completing such activities. They can also pay BitGreen tokens to organizations that offer such services.
The market looks favorable for BitGreen. Close to 13 million BitGreen tokens have exchanged hands bringing its market capitalization to more than $213,000. This is quite incredible for a social token-based cryptocurrency with only a year in the crypto ecosystem. The future looks good for the coin. The creators have orchestrated a clear pattern of growth for the asset. Moreover, as the world becomes more environmentally aware, coins like BitGreen will get increased attention and the recognition they deserve.
SolarCoin (SLR) was created in a bid to encourage the use of green energy sources in man's daily activities. Users and those who generate power by means of solar technology are rewarded with SolarCoin. Once the user provides proof of solar power generation, he gains the equivalent value in SolarCoins.
As awareness of this coin increases, its circulation will be more. Consequently, more people will get involved in generating and using clean energy. Also, since it's a financial asset, it can be used to complete transactions and as a store of value.
Cronos is undoubtedly a groundbreaker when compared to other crypto assets. It brought new development and innovations to the crypto ecosystem. However, with time and the market dip that affected many cryptocurrencies, it began to struggle.
However, with the emergence of other eco-friendly cryptocurrencies, investors can divert their resources to these new digital assets. Some of them have been highlighted above. These coins are performing well in the crypto scene, and their future looks bright. The good news is that they have a positive impact on the environment, which means crypto fans and investors have the opportunity to get a two-for-one special. Isn't that amazing?
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
