CroNodes explained
Launched on the Cronos blockchain in January 2022, CroNodes (CRN) is an investment vehicle with a simplified user interface, promising 5% per annum yields. The anonymous project “combines returns from protocol-owned liquidity with returns from DeFi (decentralised finance) protocols across many chains to allocate rewards to yield holders”.
What was the highest price for CroNodes? In this article, we explain the key features, benefits and red flags of the protocol before looking into some CroNodes price predictions.
How does CroNodes work?
CroNodes’s interface is clearly designed for the casual investor who wants to earn passive income, albeit at a fairly modest rate of return (though it’s still better than leaving your money in the bank).
After purchasing some CRN and going through the requisite wallet connections, the user activates a node by staking 20 CRN through the simple interface, and that is about all there is to it. Theoretically, CRN rewards should then start coming in at a rate of 0.5 CRN a day (2.5%).
CroNodes slashed rewards by 50% in March 2022. A maximum of 100 nodes may be activated, making maximum rewards of 50 CRN a day theoretically possible... minus the 10% claims tax.
Is CroNodes legit?
All in all, what is CroNodes (CRN) looking like as a project?
CroNodes is lacking in some transparency: the team is anonymous and the cronodes.xyz domain name details are hidden. This is not uncommon, but clarity on how users’ money is being invested would help to build trust in the project.
The recent slashing of rewards from 1 CRN per day to 0.5 CRN per day is also concerning, although an announcement on Discord cited sustainability for the project as the primary motivation.
CroNodes had a robust social media presence, particularly on Discord, where investment decisions are being fielded. Do not expect anything in the way of “know your customer” or other regulatory adherences. The rewards pool holds more than $6,305, and a steady flow of outbound transactions can be observed, suggesting a steady flow of returns to investors, albeit of diminishing value. However, since March, their discord has been shut down. The team said this was a result of death threats directed at staff.
CroNodes tokenomics
According to official CroNodes documentation, when a node is generated with 20 CRN, 14 tokens go to the rewards pool (they are sent to work on generating returns), two tokens go to the CRN/CRO liquidity pool, and four tokens go to the marketing team (in reality, likely the developers).
Data from Cronoscan shows that the total supply of CRN is 20.45 million, suggesting a fully diluted market capitalisation of $10.37m given the CRN exchange value of $0.5. Circulating supply figures are not readily available but since 95% of tokens are in a burn address, we can make an estimate of one million CRN valued at $500,000. The rewards address has $6,305 in CRN tokens, totaling 0.06% of supply. This supply has reduced from over 0.5% in May.
CRN is only available for purchase on CronaSwap.
CroNodes price prediction
The following CroNodes price prediction targets should be seen as highly speculative. CroNodes has fallen sharply in value and has been delisted from CoinMarketCap.
With that in mind, the DigitalCoinPrice CroNodes price prediction for 2022 as of 23 June 2022 is $0.96, suggesting a potential 92% increase. The site’s CroNodes price prediction for 2025 stands at $1.45.
PricePrediction offers CroNodes price prediction targets that are slightly higher, suggesting a jump to $1.12 by the end of 2022, essentially flatlining the project, heading up to $3.57 in 2025.
What was the highest price for CroNodes? Looking further ahead, the CroNodes price prediction for 2030 at DigitalCoinPrice is $3.40, while PricePrediction’s 2030 target is $21.
Closing thoughts
This article is a neutral informational resource and does not present itself as investment advice. Always do your own research and consult professional investment experts if you are considering an investment.
Hope this article can help you get a further understanding about CroNodes price prediction.
