Crypto.Com (CRO) Price Prediction 2022
Crypto.com (CRO) is a Singapore-based cryptocurrency exchange that allows investors to buy, sell and exchange various crypto assets and blockchain products. Besides the decentralized exchange, it also offers a crypto wallet, NFT marketplace, and credit cards. Holding cryptos in their wallet attracts up to 14.5% interest.
The platform features 150 cryptocurrencies, including the top popular assets such as Bitcoin, Ethereum, Dogecoin, Polkadot, and Cardano. It also supports fit currencies such as the US dollar, euro, pound, and Canadian dollar.
Transaction fees can be as much as 0.40%. While these fees are reasonable, it is not the lowest in the market. This is where CRO comes in handy. CRO is crypto.com’s native cryptocurrency. Holding a significant amount of CRO will benefit you with low transaction fees, higher credit card rewards, and staking interests rates.
CRO Price Analysis
Currently, CRO is trading at $0.5519 with a 24-hour trading volume of $162,639,770.67 at the time of writing. The crypto has reached a market capitalization of $13,939,785,918.51 ranking 16th among top cryptocurrencies.
While most cryptocurrencies enjoyed a massive bull run at the beginning and middle of 2021, CRO was quiet all along. However, towards the end of 2021, CRO experienced massive price proliferation rising from $0.2041 in October to hitting an all-time high of $0.9764 in November. After that, however, the price has dipped to $0.5541.
So, how can we expect CRO to fare in 2022?
CRO Price Forecast for 2022
Q1 and Q2
The digital token started the year trading at $0.5854. According to Cryptopredictions’ CRO forecast, the price of CRO will range between a minimum of $594146 and a maximum of $0.88598 in the first quarter of 2021. In March, the average price of the cryptocurrency is expected to reach $0.7087.
The price is expected to grow in the second quarter. As per the site forecast, CRO is expected to range between $0.6073 and $0.8931 in April. The uptrend is likely to continue in May and June. Within this period, CRO could reach a maximum price of $0.9089. The forecasted average price in June is $0.7271.
Q3 and Q4
CRO predicted price in the third quarter ranges between $0.6238 and $0.9365. In August, the price is forecasted to average $0.7413, while the average price is predicted to grow to $0.7492 in September.
CryptoPredictions forecasts that the CRO uptrend could continue in the last quarter of 2022. As a result, the predicted price of CRO is expected to start trading at $0.6435 in October and average $0.7657 in November and reach a maximum price of $0.9680.
How are these Crypto.com forecasts calculated?
These Crypto.com (CRO) predictions are calculated by a computer and work with historical data (mostly with exchange rates), the algorithm crunches the historical data and with the help of linear and polynomial regressions comes with numbers that are likely to occur in the future. The site that provides the above-stated data updates its Crypto.com predictions every 5 minutes.
Various factors have precipitated Crypto.com’s growth. The cryptocurrency platform is also banking on multiple projects to boost its future popularity and adoption. In a bid to get its name out there, Crypto.com is associating with modern sport values.
The Singapore-based company plans to run ads during the Superbowl in February, the most-watched annual television event in the United States. A 30-second commercial goes for $5.5 million. The broadcasting company is seeking to increase the spot to $6.5 million.
The blockchain company has also purchased over 20 years’ naming rights for the former Staples Center Arena in Los Angeles.
Note that Crypto.com began as a financial services company offering crypto exchange, visa card, and payment apps. On November 8th, it launched Crono Mainnet. Cronos is the Ethereum Virtual Machine (EVM) compatible network for NFTs, Metaverses, and DeFi.
It will enable developers to port apps from Ethereum and EVM compatible chains. In essence, it will create interoperability between Crypto.com and other chains. And since on-chain transactions fees are paid in CROs, it will boost the demand of the crypto and hence the -price.
In November, the platform introduced withdrawals and deposits via polygon, offering users more options besides the BEP20, erc20, Arbitrum, and Cronos.
In November, Crypto.com also announced the addition of an in-app browser on the DeFi wallet. VVS is the first dApp built on Cronos and available through the wallet. The wallet also features multi-layer security and allows users to store, swap, and earn interest on tokens.
In 2021, the crypto.com company also launched NFTs. In fact, the Ultimate Fighting Championship (UFC) and Philadelphia 76ers basketball team are set to launch collections on the NFT platform. What’s more, the crypto company plans to buy Nadex retail online exchange, enabling investors to trade derivatives and futures products.
But that is not all. CROs is expanding its user base seismically thanks to endorsements from celebrity and high-end partners such as Boy George, Aston Martin, and Snoop Dogg.
With the numerous projects in the pipeline, the price of CRO is expected to increase. The platform recently burnt tokens reducing the supply from 100 billion to 30 billion. The value CRO is set to rise with the limited supply.
The chart above shows the price movement for the CRO. It has formed a symmetrical triangle. Remember, a symmetrical triangle signifies that both bear and bull are striving to control the market. Therefore, you might want to wait for the market to break out above or below the triangle and trade in the break out direction. It is likely the price of the digital token to break out upwards and resume the dominant rising trend.
As mentioned, Crypto.com has shed a substantial amount of its value since hitting an all-time high. That said, the price has found support around the $0.50 area. Notice how the price has tested the area thrice and has not been able to break below this level. This is an indication of dwindling selling pressure. It is, therefore, likely that the bulls will take control of the market and head upwards. If the bulls take control of the market, it will find resistance at $0.7. If the market breaks above the next resistance at $0.9, it could surpass the $1 mark.
As the 14 periods moving average shows, there is market indecision. After a smooth downtrend, the price is crisscrossing the MA line. However, the price is below the MA line meaning the sellers are in control. Also, the CRO price is at the 45 levels on the relative strength index (RSI). Therefore, if the bears are strong enough, the price will continue to fall up to the oversold area. Otherwise, we can expect the price to rise to the overbought areas.
Final Words on our CRO price predictions for 2022
CRO is one of the cryptocurrencies which have performed exemplary towards the end of 2021. It launched projects that propelled its adoption and utility, including NFTs and Defi projects. In addition, it is set to start advertising during super bowl games in February 2022 to reach more users.
While the crypto exchange native currency has lost some value, it will likely reverse the trend and grow, especially if the slated project comes to fruition. Additionally, expert predictions point to an increasing value of CRO. If you are a crypto enthusiast, this is a virtual token that you should keep an eye on in 2022.
This article was originally posted on FX Empire