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Chromia CHR /USD has weakened from $1.07 to $0.41 since the beginning of December 2021, and the current price stands at $0.53.

The cryptocurrency market is losing its value this Monday; Bitcoin went below $47000, and the price of CHR can weaken even more in the upcoming hours.

Chromia is a blockchain platform that enables people to build decentralized apps in an easy way. This project is designed to solve real-world problems and to enable a new generation of dapps to scale beyond what is currently possible.

The main features of this platform are speed and unique architecture, which allows developers to code seven to ten times faster compared with other modern blockchains.

In order to improve productivity and security, Chromia has created a universal language Rell that is based on SQL, which most developers know.

Rell is easier to learn and more efficient to work with, and it permits fewer lines of code than other blockchain languages.

The priority of Chromia is to allow dapps to scale to millions of users, and it is important to say that Chromia is suitable for almost all kinds of dapps, from large enterprise applications, games to smaller projects.

Chromia offers an equal level of decentralization and transparency as other public blockchains, but it can be used as a private, public, or hybrid blockchain.

Chromia can be a Layer Two to Ethereum, making use of cheaper and faster development time as well as cheaper and faster transactions.

Many projects already collaborate with Chromia, and according to the latest news, Asymm Venture has become a validator node partner of Chromia. The team of Chromia added:

Asymm Ventures is a private Venture Capital firm that has multiple Chromia ecosystem projects in their portfolio, including Chromia, My Neighbor Alice, Hedget, and Structure Finance. By securing the network, they take an active role in strengthening their digital assets while also helping us fulfill our mission of delivering a next-generation gaming and dapp protocol.

Chroma (CHR) is the native token that powers the Chromia platform, and it can be used by dapps to pay hosting fees and to make sure that providers have a stake in the Chromia ecosystem.

CHR is currently an ERC20 token, but the team of Chromia plans to change its form from an ERC20 token to a native one.

Chromia (CHR) has weakened from its record high above $1.5, registered on November 20, to $0.41, while the current price stands at $0.53.

The strong support level for CHR stands at $0.40, and if the price falls below it, the next price target could be around $0.35 or even below.

On the other side, if the price jumps above $0.80, it would be a strong “buy” signal, and we have the open way to a resistance level that stands at $1.

Chromia is a blockchain platform for decentralized apps that allows developers to code seven to ten times faster compared with other modern blockchains. Chroma (CHR) is the native token that powers the Chromia platform, and according to technical analysis, CHR remains in a bear market.

The post Chromia (CHR) price analysis after current sell-off appeared first on Invezz.

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