With the announcement from the crypto exchange Crypto.com, the price of the exchange’s local altcoin Cronos (CRO) increased. The price of the token has risen to its highest level since its debut on November 11 at $0.09 and is trading at $0.079404 at the time of this writing.
The concept of sustainability is becoming more and more important in the cryptocurrency industry. Ethereum switched to the Proof of Stake consensus mechanism last year to reduce overall energy use and become more environmentally conscious. This trend has been echoed by other crypto blockchains and protocols, with the latest being Crypto.com’s eight-year decarbonization agreement with Climeworks to neutralize the platform’s direct carbon emissions. After the announcement was made on January 16, the price of CRO has seen a huge increase.
The announcement was shared on the Crypto.com official website as follows:
“Crypto.com, a cryptocurrency platform with more than 70 million customers worldwide, announced that it has partnered with Climeworks, a company specializing in carbon dioxide removal through direct air capture technology.
The partnership aims to help Crypto.com reduce its carbon footprint and invest in new technology that can be scaled up to remove carbon dioxide from the atmosphere. Crypto.com is committed to tackling the climate issue and plans to continue its efforts to eliminate direct carbon emissions and improve the impact of decarbonization technologies in the industry.
The company is also focused on reducing indirect value chain emissions and exploring other sustainability initiatives.”
In response to this development, Eric Anziani, President and Chief Operating Officer of Crypto.com, said: “We are committed to addressing the urgent climate challenge and continually advancing our efforts.”