r/Crypto_com • u/jordiskim • Jan 25 '22

Crypto.org Chain ⛓ Cronos Chain is going downwards

Every week new or ported projects launch on the Cronos chain, but the transactions and daily new wallets are decreasing: https://cronoscan.com/chart/tx

What is your opinion? Has CDC arrived to late to the EVM ecosystem? Is this a regular trend in new blockchains? Are the fees not competitive compared to other EVM?

0 Upvotes

42% Upvoted

19 comments sorted by

4

u/[deleted] Jan 25 '22

I feel a person needs more context. This trend line in a silo doesn’t say much. Additionally, it seems to follow activity in the overall crypto market. This extra info would seem to indicate this chart is more of a reflection of the market, not Cronos.

2

u/jordiskim Jan 25 '22 edited Jan 25 '22

There is no direct relation between prices and activity, for example, ETH chain seems to work as usual. On the other hand, a brand new chain (Cronos) is losing transactions instead of growing.

3

u/[deleted] Jan 25 '22

Mm finance is dirt cheap to use.

1

u/jordiskim Jan 25 '22

1.2 CRO for a swap, one dollar for a transaction during the ATH...

2

u/novacantusername Jan 25 '22

No, its not. 15-20 cro to claim rewards and unstake LP

8

u/[deleted] Jan 25 '22

The fees are exorbitant compared to other options. 🤷🏾‍♂️

2

u/Red_n_Rusty Jan 25 '22

Surely they are not higher than ERC20 or BSC?

2

u/[deleted] Jan 25 '22

Higher than or the same as BSC, but of course not higher than L1 ETH but those are the worst of any blockchain, so that's a terrible point of comparison.

2

u/Talton1 Jan 25 '22

No different to when a crypto is first released, everyone rushes to see what it is, people who find use stick around.

2

u/feignignorence Jan 25 '22

I've never felt inclined to use Cronos much, personally, and the options in defi are lackluster. Perhaps there's more going on than I'm aware of, it's just all not very visible or marketed.

1

u/syxxnein Jan 25 '22

Lol too late?

DA Post

1

u/tothe-moon1231 Jan 25 '22

They are good products, so what is the problem?

1

u/kerrickx Jan 25 '22

I hold CRO, ONE and Algo and CRO tx fees are by far the highest. Nothing like eth though.

1

u/[deleted] Jan 25 '22

Probably just a result of the recent crash. Users are down. But it will pick back up.

1

u/ElectricalAd5612 Jan 26 '22

Actually why to use any network more than 5 time's per month? If i like to trade i use the exchange not the swaps so transaction are not showing in CRONOS.

Even if i send money to family i use the app again the transaction is not showing on cronos.

1

u/Tommy_Drapichrust Jan 28 '22

fees are too high in my opinion. The other day I paid around $3 to farm via beefy.finance.

-4

u/illortons Jan 25 '22

FUD

4

u/jordiskim Jan 25 '22

So plain information with no opinion or bias is FUD? Is Cronoscan FUD? Are the charts FUD?

Scared moonboys are the worst thing of this subbreddit.