Binance and Crypto.com are strong players when it comes to cryptocurrency exchanges, but what about their blockchains? Can Cronos be a competitor to the BNB Chain, and is now the right time to convert BNB to CRO?
Our guide will try to answer that question by focusing on the basics about both projects and currency performance in the past, as well as predictions for the future. Here’s what to know about Cronos and BNB Chain!
What Is BNB?
Binance is a company that’s running the biggest worldwide crypto exchange of the same name. It’s also a centralized organization that’s behind various crypto projects, including the BNB Chain.
Although the blockchain’s history goes back to 2017, the name Build and Build Chain only followed later. Today, the BNB Chain includes the BNB Smart Chain, which is EVM-compatible and supports multi-chain function and consensus layers, and the BNB Beacon Chain, which serves for governance, including voting and staking.
BNB is a coin that powers the transactions on the chain and serves its governance. The company keeps working on improving the platform, with the goal of maximizing the BSC throughput, securing scalability, and embracing large-scale SocialFi and Game Fi applications.
What Is CRO?
CRO Protocol Labs is the company that’s behind the famous digital asset exchange Crypto.com, and the CRO token is the native coin of this platform. The network used to be famous as Monaco, but it was rebranded to Crypto.com in 2018.
The platform offers crypto exchange, other DeFI options, Visa payments, and other services. Crypto.com aims to offer admirable payment processing and scalability and is capable of processing up to 50,000 transactions per second.
Cronos is the name of the blockchain network owned by CRO Protocol Labs. It secures interoperability between Ethereum and Cosmos while supporting Metaverse, NFTs, and Web3 gaming. The platform uses a consensus mechanism based on Byzantine Fault Tolerance, which is widely used for optimal network security.
Crypto Future Price
BNB’s current value is around $240 per token, which puts it in the top five most-valued coins at this point. The token’s market cap is over $37 billion, while there are 153,855,460 coins in circulation. BNBBurn is a burning mechanism that destroys a portion of tokens to secure BNB’s scarcity.
BNB’s all-time high was in 2021 when it was worth $690.93. Although it lost a significant portion of its value, the token recovered after the crypto crisis and shows positive signs of progress.
CRO’s current value is $0.059, and that’s enough to be among the top 40 tokens in the rankings. Cronos has a market cap set at $1.50 billion and growing, and there are over 25 billion tokens in circulation. The maximum is set at 30,263,012,692 CRO tokens.
BNB Price Prediction
If you are thinking about visiting an online cryptocurrency exchange, don’t forget to keep in mind BNB price forecasts. Most experts believe that the coin value won’t exceed $290 by the end of 2023, although some think BNB could reach $365. During the next year, the value could double compared to now, and BNB could increase up to $500 or more.
In 2025, the value could go up to $700 (according to Priceprediction.net), although some claim the token won’t exceed $500. As for the long-term forecast, the value could be anywhere from $800 to $1,100 in 2028.
CRO Price Forecast
CRO will likely continue using this year for stabilization, and it’s hard to expect major changes before 2023 ends. Optimistic experts believe the coin will continue to grow to $0.32, but most analysts agree that the value of $0.3 is more likely to become realistic in 2024.
As for 2025, the prognosis places CRO anywhere between $0.4 to $0.7. Five years from now, the token might go beyond $1, while some cautious forecasts put it at only $0.5.
Is It the Right Time to Swap BNB to CRO?
Binance and CRO Protocol Labs are both reputable companies, and the odds are the projects will likely be successful in the coming years. A single BNB coin is worth far more than a single CRO coin, so if you enjoy having more tokens in your wallet, you should go ahead with the conversion. But don’t forget the importance of assessing all relevant factors and trusting your intuition. Ultimately, only go through with the trade when you decide that’s the right move.