A Gentle reminder that $CRO is heavily centralized and has no used cases.

More than 80% belong to @cryptocom and have not been moved for a long time.

Similarly, their Cronos chain is centralized with limited activities.

1: Regarding exchanges, it is no surprise that a large percentage of $CRO is kept on @cryptocom.

The total number is 1,9B (8,32% of the supply)

2: The Top 2 and 3, tagged Token Millionaire by @nansen_ai, hold a total of 6B $CRO (28%)

They received tokens from many wallets, which in turn were unlocked or received from exchanges so most likely these belong to @cryptocom.

3: The Top 5 holds 850M $CRO (3,83%).

However, this wallet got tokens directly from a multisig wallet on Feb 2021, in contrast to multiple wallets like Top 2 and 3 above.

Most of the Top 10 to Top 50 are distribution recipients.

Together, they constitute around 10% of the supply.

Below are pictures of the Top 10 (left) and Top 34 (right).

Similar behavior to the Top 5 Holder, just at a smaller number.

4: Regarding the Cronos Chain, it is a heavily centralized chain with the Top 3 Validators accounting for 75% of block validated.

The total number of validators is 27.

In comparison, @ethereum has 400K.

5: The bulk of TVL on Cronos is on VVS Finance ($360M, half of which is stablecoin)

However, the daily volume is just $12M (a ratio of 38)

In comparison, @CurveFinance has a TVL of $3,7B and a $380M daily volume (a ratio of 10)

6: Conclusion

Recent events have taught us to be wary of centralized exchange tokens.

$CRO is one of them.

The majority of tokens belong to@cryptocom and the Cronos chain is centralized with no plans to improve in the future.

Stay safe!

7: Follow me @sansbrax for more on-chain tips and updates.