- Cronos announced the second cohort of its accelerator program.
- KAVA crypto price soared to the highest level since October last year.
Cronos and Kava prices have diverged in the past few days. CRO crashed to a low of $0.062 on Tuesday even after the developers unveiled the second cohort of its accelerator program. Kava, on the other hand, continued the strong comeback, which I wrote about here. The token has jumped by 8% in the past 24 hours and it reached its highest level since August 2022 on Tuesday.
The main reason for the divergence between Cronos and Kava is that the two networks are moving in the opposite direction. Kava, a blockchain that combines attributes of Cosmos and Ethereum, has seen the total value locked in its ecosystem jump to more than $575 million. This increase makes it the 9th biggest platform in the DeFi industry.
On the other hand, the TVL in Cronos ecosystem has been in a downward trajectory. After peaking at over $4.4 billion in 2022, the amount has now dropped to $443 million. This makes it the 12th biggest chain in the DeFi industry.
Kava and Cronos have made important announcement recently. Last week, Kava unveiled Kava 13, the biggest upgrade in its ecosystem’s history. It also integrated with SubQuery, a leading data indexing platform that competes with The Graph.
Cronos, in its part, unveiled the second cohort of the developers who made it through its web accelerator program. The developers who made through are CorgiAI, Earn, Sakaba, Furrend, Omnus, Solace and Dem3. These developers are building tools in industries like AI, games, loyalty, video sharing, and finance among others.
CRO price prediction
Turning to the daily chart, we see that CRO price has been in a bearish trend in the past few months. It is trading at $0.061, the lowest level since March 10 of this year. This is an important price since it is slightly above the key support level at $0.060 (March low).
The coin has plunged below the 25-day and 50-day moving averages while the Relative Strength Index (RSI) is approaching the oversold level. Therefore, the outlook of CRO is neutral, with the next target to watch being at $0.060. A move below that level will confirm the bearish trend and see it move to the key support at $0.50.
Kava price prediction
The daily chart shows that the KAVA crypto price has been in a strong bullish trend. It jumped to a multi-month high of $1.5668, the highest point since October last year. The token is now trading at an important level since it was the highest point on March 14.
It has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved above the overbought level. Therefore, the token will likely continue rising as buyers target the intraday high of $1.5668.
