Chromia (CHR) is a relational blockchain geared for the real world. Designed for the building of decentralized apps (Dapps), Chromia enables developers to code seven to ten times faster. Its unique architecture incorporates both a blockchain and a relational database, and Chromia can function as a Layer 1 blockchain or a Layer 2 to Ethereum. The project has already found use cases in gaming, enterprise, and decentralized finance (DeFi).

CHR is the native token of the Chromia platform and is used for staking, paying hosting fees, and as a platform currency. Since its launch, the price of CHR has seen significant change and if you want to know why then you’re in the right place. We’ve compiled everything you need to get a better understanding of CHR price – as well as the factors which influence it.

Chromia Price History

CHR began trading at the end of May 2019 at around $0.10. It fell to a low of $0.06 at the start of June, and after a brief resurgence to $0.12, continued to fall for the rest of the month. The remainder of the year took a mostly downward trajectory, with CHR reaching a low of $0.01 in December, before finishing 2019 with a value of $0.015.

The bearish momentum continued through most of January 2020, as CHR returned to $0.01. At the end of the month, however, Chromia price began to rally, reaching a peak of $0.04 in March. A few days later though, prices bottomed out at $0.007, following a single day crash of 52%. CHR then experienced a period of growth for several months which carried prices up to a high of $0.09 in August. At that point, the trend reversed and CHR mostly declined for the rest of the year. By the end of 2020, CHR was worth $0.02.

In 2021, CHR began to rally immediately, almost doubling in January. In February, CHR hit a high of $0.09, before returning to $0.05. The growth became almost vertical in March, as CHR surged to its all-time high of $0.83, representing year-to-date gains of 4,050%. At that point, Chromia had a market cap of over $200 million. A 67% pullback ensued, which saw CHR return to $0.27 later that month. A volatile April took prices up to $0.50, before dipping to $0.17. May then showed a mostly bearish trajectory, including a single day crash of 38%, which took CHR as low as $0.13.

Analyzing Chromia Price History

CHR price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis (TA) involves using various indicators while studying price charts in order to make sense of previous price movements. With CHR, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.

Fundamental analysis (FA), on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. Chromia raised its target of $13 million in its initial coin offering (ICO) and has backers which are well known in the blockchain sector, including 21M Capital, Arrington XRP Capital, and NEO Global Capital. Several projects have already been built on Chromia, including decentralized crypto options provider Hedget, digital certificates platform Lingon, and multiplayer blockchain builder game My Neighbor Alice. These could be good signs for Chromia’s fundamentals.

Broader market trends have also played a role in CHR price history. Its surge at the start of 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.

CHR’s sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.

CHR’s huge single-day drop back in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole crypto sector and the entire stock market, which experienced the biggest single-day crash since 1987.

The overall price trend of CHR tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of Chromia (CHR)

A variety of different things can affect CHR price, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider crypto and global economies.

CHR was launched with a capped max supply of 1 billion tokens, although this has been reduced following the burn of 22 million CHR in May 2020. Tokens will be gradually released into the circulating supply over a period of several years and once the max supply has been reached, no new CHR will ever be minted. This makes CHR a scarce asset, like Bitcoin, and therefore potentially a good store of value in the long term. With a fixed supply, any increase in demand for the token will increase its price.

One source of demand for CHR will be for staking in the Chromia ecosystem. This provides holders with passive income in the form of staking rewards and could therefore incentivize more people to buy and stake CHR. As of May 2021, approximately 6% of the circulating supply of CHR is being staked, which reduces the amount of tokens available on the market.

There will also be demand for CHR from users of the platform. Dapps need CHR to pay hosting fees and can also collect fees in CHR or use it as a reserve to peg their own tokens. It is thus likely that demand for CHR will increase as the number of Dapps and users on the platform grows. Any future developments or integrations that drive Chromia adoption could therefore boost the price of CHR.

Live Chromia Value and Market Cap

The live price of CHR varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux. 

Given CHR’s volatility, its live price can change by a large amount in a very short space of time. The market cap of Chromia is equal to the price of CHR multiplied by the number of CHR in the circulating supply.

Chromia Price FAQ

How is the price of CHR calculated?

CHR’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying CHR than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of CHR different on different cryptocurrency exchanges?

CHR’s price is based purely on trading as there is no standard global CHR price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.

What will CHR be worth in the future?

It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of CHR. However, greater adoption of the Chromia ecosystem should drive demand for CHR. More Dapps being built on Chromia could therefore boost the price of CHR.

Conclusion

The price of CHR has seen significant change throughout its history, going from lows of below a cent to highs of $0.83. Its price movements have rarely been smooth, however, as CHR’s volatility has led to plenty of surges and crashes along the way.

Many different factors have played a role in determining the price of CHR, including demand for staking, the number of Dapps being built on the platform, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Chromia and cryptocurrencies!