The price of MCO increased 50 percent after Crypto.com announced that it would withdraw from MCO and MCO holders could trade their tokens with CRO.
The popular cryptocurrency platform Crypto.com gained more than 50 percent after the announcement that MCO token holders could trade their tokens with CRO.
Crypto.com draws hand from MCO
There were two separate tokens in the Crypto.com ecosystem. One of them was CRO and the other was MCO. In line with the company’s decision, MCO will no longer be supported by Crypto.com, and now only CRO will be available in the stock market ecosystem. According to the official statement, the functions of MCO will be preserved in CRO. On the other hand, MCOs that are not traded with CRO will continue to exist in the Ethereum blockchain as ERC-20 tokens.
MCO token holders will be able to exchange their tokens with CRO using the Crypto.com application until 3 November 2020, 03:00 CET.
After the development, the price of MCO increased from about $ 4 to $ 6. Thus, MCO reached its highest level in the last three months. The highest level of token ever seen was on August 29, 2017, and that day MCO found buyers for $ 27.
MCO holders are currently entitled to receive approximately 27.64 CRO for each token they own. There is also a 20% bonus entitlement for each token exchange so MCO holders can receive a total of 33 CRO.