The cryptocurrency market has seen several extreme ups and downs in the year 2021. Recently, a token that had remained under the radar jumped over 100% and came under the spotlight. Cratos, the ERC-20 token, trades as CRTS ticker. The market capitalization of this utility token has gone over 100 million, pushing it in the list of top 500 cryptocurrencies.
CRTS was originally designed as a utility token for this app. Its application was to measure and facilitate the participation of citizens. The app has a voting platform that allows real-time voting. Users use its Delphi technique to create topics and polls. They can vote based on their preferences. Other people can vouch their opinions through voting and in other ways. The app was initially launched for Korean region only. Its global version was launched recently. Users make CRTS tokens by generating votes, registering, voting on topics, or commenting.
Market watchers and investors reacted to this news positively and drove its price over 100%. The token saw a rally for three days whereas CRTS went from $0.0035 to ATH $3.01. It was a huge surge of 111%. In addition to launching the app’s global version, the Asian exchange MEXC listed this token, further boosting the coin’s bullish movements. It was a catalyst that made the token price surge heavily.
All rallies finally reach a tipping point and CRTS token is no exception. It saw a heavy pullback and crashed from $3.01 to $0.0060. Such extreme volatility has become a part of the crypto market and cannot be wished away. It is important for investors to understand tokenomics before investing in any crypto asset.