MCO token jumps 39% to hit 90-day high

The rapid price appreciation reflects intense trading activity, with investors seeking to take advantage of the conversion opportunity. Against Bitcoin, MCO climbed 36.19%, trading at 0.00048459 BTC per token. The Ethereum pair showed similarly strong movement, advancing 32% to reach 0.01413097 ETH, demonstrating strength across multiple trading pairs.

MCO currently sits at position 89 among digital assets by market capitalization, with a valuation of $85.5 million. Trading volume reached $76.9 million within a single day, underscoring the heightened interest in the token swap.

The conversion mechanism is straightforward for Crypto.com App users. Each MCO token converts to approximately 27.6439 CRO tokens. Those who proceed with the exchange also receive a 20% bonus on their conversion, allowing holders to obtain as much as 33 CRO per MCO token. The platform has clarified that users maintaining locked positions in staking arrangements need not fear exclusion. Crypto.com's August 3 announcement confirms that all staked MCO will automatically transition to CRO at the specified conversion rates. A holder with 500 staked MCO, for example, would see their position become a 13,820 CRO stake.

Users retaining their tokens through staking will preserve all existing rewards. Crypto.com's staking program delivers up to 18% annual returns, distributed on a weekly basis. The token swap initiative will remain active through November 2020, after which MCO support concludes. The token itself will persist as an ERC-20 asset on Ethereum.