Crypto.com and CRO token: Let us dig deeper
Crypto.com is a leading company that offers a whole suite of products like a wallet, exchange, investment platform, and debit cards. It also owns Cronos, formerly known as Crypto.org chain, which is a platform that enables developers to build apps in all industries like decentralized finance (DeFi), non-fungible tokens (NFT), and tools.
CRO is the native token for the Cronos ecosystem. It is mostly used to facilitate payments and improve governance in the network. According to CoinGecko, it has a market cap of over $12 billion, making it the 17th biggest cryptocurrency in the world. It has a total supply cap of about $30.2 billion.
The network has grown in popularity among both developers and investors. In the past few months, the number of apps built using Crypto.com has jumped. As a result, the total value locked has risen to over $3.73 billion, making it the 9th biggest platform in the world. Some of the top apps in the ecosystem are VVS Finance and MM Finance among others.
Crypto.com (CRO) price history and technical analysis
Crypto.com Coin jumped to an all-time high of $0.9742 in 2021. At the time, most investors were cheering the marketing activities that the company was implementing. They included the purchase of rights for Staples Center and a $200 million marketing blitz that featured several celebrities. The firm also unveiled a major sponsorship deal with Formula 1.
On the daily chart, the coin found a strong support at $0.3500 in 2022. It struggled to move below that level several times in the first quarter and is trading at $0.4900. The coin has also managed to move above the 25-day moving average and is slightly below the 50% Fibonacci retracement level. Also, it is slightly below the important resistance level at $0.5422. Therefore, there is a possibility that it will continue rising.
Crypto.com coin (CRO) price prediction for a year
Crypto.com coin has strong fundamentals considering that activity in its ecosystem has jumped sharply in such a short time. As shown below, the TVL has risen from less than $100 million in January to over $3.7 billion in March. Notably, this growth is evenly spread across multiple assets since the biggest one has a dominance of 36.37%.
In the daily chart above, the coin has found a strong floor, meaning that there is a possibility that it will find more bidders this year. Moreso, Crypto.com will be a major advertiser in the World Cup, which will lead to more demand. According to Gov Capital, the coin will likely end 2022 at a higher price than its all-time high.
Crypto.com (CRO) price prediction for 2025
With its ecosystem showing strong growth, the CRO price will be much higher in 2025 than where it is today. Gov Capital estimates that the coin will end 2025 at $2.16, which is over 300% above the current level.
Another way to estimate where CRO will be in 2025 is to compare its performance with that of Bitcoin. Most analysts expect that BTC will be trading above $100,000 in 2025. This price is more than double where it is today. Therefore, since Crypto.com has more utility than BTC, a 3x forecast will see it rising to over $1.47.
This performance will depend on multiple factors such as the Federal Reserve and actions by regulators in western countries.
Crypto.com coin (CRO) in questions and answers
Is Crypto.com coin real?
Crypto.com coin is a real cryptocurrency. It is used to promote governance and payments in the network.
Will CRO reach $10?
CRO is unlikely to reach $10 in the near term. To do that, the coin needs to rise 2,400% to get to $10. While this is possible, it is unlikely to happen in the next 12 months.
Should I buy CRO coin?
Crypto.com coin seems like a good investment. Its historical performance has been strong and we expect that this pullback will be a good entry point.
How much will Crypto.com coin be in five years?
While it is hard to estimate where CRO will be in five years, a cautious estimate is that it will have grown by about 3 times from where it is today. Therefore, this means that it will be trading at about $1.50.
Where do I buy Crypto.com Coin?
Crypto.com Coin, now known as Cronos, is offered in most exchanges. The cheapest place to buy it is in Crypto.com. Other exchanges are Binance, OKEX, and Coinbase. You can also buy the coin in decentralized exchanges like Uniswap and SushiSwap.
This article represents the views of the author. Cryptocurrencies are highly speculative assets and the author will not be held liable for any losses.
