Cronos (CRO)
What is the Crypto.com coin?
Crypto.com is a leading blockchain company that offers numerous services. It offers an exchange that processes cryptocurrencies worth billions of dollars every day. It also offers a cryptocurrency Visa card, Non-Fungible Token (NFT) marketplace, Decentralized Finance (DeFi) wallet, and investment platform. It has more than 10 million users from around the world.
Crypto.com coin, also known as CRO, is the native token for the Crypto.org chain. Crypto.org chain is a blockchain project that is relatively similar to the popular Binance Smart Chain (BSc), Solana, and Ethereum.
It is a proof-of-stake network that allows developers to build decentralized apps (dApps), decentralized autonomous organizations (DAOs), games, and even stablecoins. It is a relatively faster network that has relatively low fees and is highly scalable.
At the same time, the Crypto.com coin is used to power the Crypto.com ecosystem. Users of the network can stake the coin and earn interest and even receive some offers from Crypto.com.
Is Crypto.com coin a good investment?
Crypto.com coin is an altcoin that has had some success in the past few months. The coin started trading in 2019 at $0.010. It rallied and reached an all-time high of $0.2578 in February 2021. At its peak, CRO was up by more than 2,400% from its lowest level on record.
At the same time, the total market capitalization of the coin was valued at more than $10 billion. This made it one of the top 20 cryptocurrencies in the world. In the recent number of months, however, the coin has been overtaken by other fast-growing altcoins like Avalanche, Solana, and Algorand.
There are two benefits of investing in Crypto.com coin from a fundamental side. First, the cryptocurrency is backed by one of the biggest platforms in the world. In the past few months, the developers have signed partnerships with companies like Formula 1 Group, Fnatic, Paris St Germain, Philadelphia 79ers, and several other leading brands.
These partnerships will help draw more users to its platform, which will help the token. Similarly, developers will likely be attracted to the platform because of these partnerships. At the same time, it has the financial resources to attract more developers.
Second, Crypto.com coin could benefit from the ongoing trend of exchange-backed digital currencies. In the past few months, Binance coin has become the fourth biggest platform in the world. Similarly, Huobi coin and OKEx coin have become popular. This trend could also help CRO.
Finally, there is a rising demand for so-called Ethereum-killers. This has seen some cryptocurrencies move from obscurity to become some of the biggest crypto projects in the world. They include Avalanche, Algorand, Solana, and Polygon.
Crypto.com coin fundamental analysis
While Crypto.com coin has a bright future, there are some important risks that lie ahead. First, Ethereum is significantly ahead of all Ethereum-killers. While it is a slow and expensive network, it is already used by more than 80% of the developers. Therefore, it will be hard to dethrone it as it moves towards being a proof-of-stake network.
Second, despite the company’s strong marketing initiatives, activity within the network is relatively low. It is even difficult to find applications that are built using the network. Finally, it faces significant competition from the likes of Avalanche and Solana.
Crypto technical analysis for Crypto.com coin
The 4HR chart shows that CRO is more or less in a bullish scenario. We have applied the 50-day (blue) and 200-day (orange). The first sign that CRO’s price may continue rising is that the market is above the two moving averages.
However, traders would need to wait for the 50 to cross above the 200 for better confirmation (as circled on the chart).
Worst case scenario for CRO
Of course, a lot could go wrong for CRO, resulting in lower demand for the token. One of the fundamental challenges facing many crypto exchanges is regulation. In some countries, users are banned from transacting with cryptocurrencies.
Some more might be added to the list in the future, which would understandably limit the reach of Crypto.com and decrease their user base. Moreover, Crypto.com faces stiff competition with many established exchanges like Binance, Coinbase, FTX, and Bitstamp.
These are a few factors that can tank CRO’s price at some point in time if things don’t go well.
Best case scenario for CRO
Overall, there’s a lot for CRO holders to smile about concerning the exchange. Crypto.com already has illustrious partnerships with several well-known sports organizations, including its recent multi-million dollar with the LA Kings and Los Angeles, which resulted in the renaming of the Staples Centre to Crypto.com Arena.
If the trading volume for Crypto.com gradually increases, along with other developments, these will be a real bullish catalyst for CRO. It wouldn’t be foolish to conservatively assume the token may be worth a few dollars or more in the coming years.
Should I buy CRO today?
Ultimately, a potential investment in any cryptocurrency will come with unique risks; CRO is no exception. Therefore, your decision should be fully guided and consider how much you’re willing to lose.
However, if you believe that Crypto.com will continue being one of the leading crypto exchanges, CRO may prove an attractive buy. CRO is the second-most traded exchange utility token after Binance Coin.
Therefore, one could bet on it as a small part of their portfolio given the many benefits it presents.
Will CRO Hit $10 this year?
It is highly unlikely that the Crypto.com coin will rise to $10 this year or any time soon. It is currently trading at $0.1715, meaning that a jump to $10 would be a 5,727% increase. This will not happen. Still, in the long term, such a parabolic move cannot be ruled out. Besides, Bitcoin was once worth less than $1.
What is the Crypto.com Coin price prediction for 2025?
In general, I remain bullish about cryptocurrencies in general. I expect that most coins will be substantially higher in 2025 than where they are today. For Crypto.com Coin, I suspect that its price will be substantially higher than where it is today. A conservative estimate is that the coin’s price will grow by about 300% in the next five years. If this happens, the key level to watch will be $0.6820.
The best way to buy Crypto.com Coin
The best way to buy Crypto.com coins is through a broker like Crypto.com, Binance, and Coinbase.
