One of the world’s leading cryptocurrency exchanges, Crypto.com, recently upgraded its Visa Card policy. Thus eliminating a critical feature that made it the most popular crypto-linked card program.

Members of certain tiers of the Crypto.com Visa Card are now excluded from the discount benefits they enjoyed through Spotify and Netflix.

As of January 23, these cardholders will no longer receive a CRO as compensation and will instead receive a 2% back on Spotify and Netflix spend.

Shortly after its announcement, on July 23, Cronos became a pivotal topic of discussion on social channels. And as a result, his social dominance skyrocketed to its highest point in two months.

Cronos social presence | Source: Santiment – ​​​​AMBCrypto

Each of the 100 mentions about crypto were related to Cronos.

CRO investors, in particular, have been in a difficult position for a long time, thanks to the drop they noted from the all-time high of $0.974 in November.

After the crash, the altcoin sank further down the charts, reaching its trading price of $1.29, which is currently 85.5% below its high.

Cronos price action | Source: TradingView – AMBCrypto

The successive dips resulted in consistent losses for the CRO holders. And the average balance at their addresses began to drop rapidly.

In just eight months, the figure dropped from $533k to $50k at the time of writing, its lowest since January 2019.

Average balance of Cronos investors | Source: Intotheblock – AMBCrypto

Such losses are why even after the policy change announcement, not many investors actually reacted on-chain.

The transaction volume was unchanged, and the ongoing build-up of a month worth 110 million CRO was also unaffected.

And it hasn’t prompted long-term holders to move their holdings either.

Cronos balance on exchanges | Source: Santiment – ​​​​AMBCrypto

So at this point it has become clear that when it comes to crypto, at least in the case of the holders of Cronos, it is about money than about the network.



This post Cronos: Did suspension of CRO discount benefits affect investors?

was published first on https://ambcrypto.com/cronos-did-suspension-of-cro-rebate-benefits-affect-investors/

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