In the sea of similarities, Cronos World remains a unique all-in-one ecosystem built on Cronos chain. With an exclusive marketplace, a decentralized exchange, an exceptional launchpad and other features, Cronos World solves the challenge of having to navigate through several platforms to access different services.
Indeed, we had pre-planned our presale and IDO events for early January 2022 going by our roadmap. But as the month is running towards its conclusion, it is important to reaffirm when the presale and IDO events will hold.
The bottom line, however, is that our community is very important to us at Cronos World and the events cannot be fixed unless the market parameters in the general crypto world are considered stable and safe for our existing as well as prospective investors. This editorial is therefore to bring our community up-to-speed on the circumstances and why holding-down on both events are for their general best interest.
Reasons For Deferring the Presale and IDO Events.
For some weeks, the bloodbath in the crypto industry has kept traders in complete suspense. While the market has been in the red zone since November, recent days have been hell for institutional and retail investors.
In one month, the crypto market liquidated by almost a billion dollars, with BTC accounting for more than 70%. Bitcoin, among others, touched $35k few days ago, a 50% decline from its November all-time high. A cumulative of digital assets, according to Bloomberg, also lost over $1 trillion in market value in January 2022.
The uncertainty surrounding the crypto market is so immense to the extent that only a few investors will participate in any IDO event or even presale. While the dip, to some extent, may represent a good chance to launch the presale event, our growth strategists gathered that there is likely a relative scarcity of cash-flow among crypto retail investors while some investors have also liquidated their positions as a result of the downtrend in prices.
Although the date has not been officially communicated, we renew our assurances that once the market conditions are stable and judged viable, the dates will be shared. Cronos World facilitates the adoption of cronos chains and onboard enthusiastic DeFi users who want a simple as well as scalable platform that enables them to do everything in one place. Developers can also port apps from EVM-compatible chains onto the growth-supportive ecosystem on Cronos chain.