One important obstacle to the acceptance of cryptocurrencies is the barrier between them and traditional finance. One of the projects working to remove this barrier is Crypto.com, with the motto "Cryptocurrency In Every Wallet". In this article, we'll explore the Crypto.com platform and its native Cronos (CRO) coin and look at its price predictions.
What is Cronos (CRO)?
Cronos Chain is the blockchain network of the cryptocurrency platform Crypto.com, which offers a range of services in the crypto market, including a mobile wallet, a cryptocurrency prepaid card and a crypto trading platform.
Register on StormGain Now
Work on the stuff that matters. If you work on the stuff that matters, people will join you, and people will fund you. – Kris Marszalek, CEO of Crypto.com.
The history of Cronos
Crypto.com was founded in June 2016 in Hong Kong as "Monaco Technologies GmbH" by a team of entrepreneurs with experience in finance and tech. The team included Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao. Kris Marszalek, the current CEO of the company, had previously been involved in multiple startups, both successful and not.
In 2018, Monaco was rebranded as Crypto.com following the purchase of the Crypto.com domain. The platform's old token, MCO, was phased out and swapped for CRO.
Also, in 2018, Crypto.com launched its Visa cards.
At the end of 2019, the number of platform users reached 1 million; in February 2020, it surpassed 10 million. Currently, the company claims that its platform has more than 80 million users.
On 8 November 2021, the Cronos Chain mainnet was launched. In January 2022, $15 million worth of cryptocurrency was stolen from the platform as a result of a hack. After a transaction freeze and investigation, the company claimed that no user funds were lost.
The company is currently headquartered in Singapore.
Cronos' features
Cronos (CRO) is the native cryptocurrency of the Crypto.com platform. Crypto.com is a cryptocurrency exchange and financial services platform that offers a range of products and services related to cryptocurrencies and blockchain technology. The key features and products of Crypto.com are:
- Crypto.com exchange. A cryptocurrency trading platform with the standard functionality of centralised cryptocurrency exchanges.
- Crypto Wallet that supports over 100 cryptocurrencies.
- Crypto.com pay. This feature allows users to pay with cryptocurrency to Crypto.com program merchants.
- Crypto.com Visa card. A prepaid card that can be topped up using bank account transfers, other credit/debit cards and cryptocurrency alike. To receive most bonuses, users need to lock CRO tokens in their Crypto.com wallet for six months, and the amount depends on the tier of the card.
- Crypto Earn. A tool for cryptocurrency staking.
- Crypto Credit. Users can borrow fiat currency or stablecoins using their cryptocurrencies as collateral.
- Crypto.com NFT Marketplace. A platform for buying and selling non-fungible tokens (NFTs).
- Crypto.com App. A mobile app that allows you to use the platform and manage your funds.
CRO token plays a key role in the Crypto.com ecosystem, serving as a utility token that provides users with discounts, rewards, and access to certain features within the platform. CRO can also be staked by users to earn rewards and secure the Crypto.com network. Additionally, CRO is used as a medium of exchange within the Crypto.com payment network, allowing users to pay for goods and services at participating merchants.
CRO is an ERC-20 token that works in both the older Crypto.org blockchain and the newer Cronos Chain launched in 2021. Cronos Chain is an Ethereum Virtual Machine (EVM) compatible blockchain built on the Cosmos SDK. It's designed to host decentralised apps and smart contracts. The network is a complement to the Crypto.com ecosystem running alongside the Crypto.org blockchain.
Register on StormGain Now
Cronos (CRO) price analysis
As of 9 March 2023, the CRO token ranked 32nd among cryptocurrencies by market capitalisation at $1,689,842,697.
CRO price statistics (as of 09/03/23)
Current price | $0.06689 |
Market cap | $1,689,842,697 |
Circulating supply | 25.26 billion CRO |
Max supply | 30.26 billion CRO |
Daily trading volume | $11,832,463 |
All-time high | $0.9698 (24/11/21) |
All-time low | $0.01149 (17/12/18) |
Website |
Register on StormGain Now
CRO's price history
The token price rose markedly in the aftermath of the launch. However, after it reached a local high on 16 May 2019, a bearish trend started and lasted until December 2019.
The trend then turned bullish, which, despite occasional deep corrections, continued until November 2021. The CRO price surged in November and reached its all-time high on 24 November.
This was followed by a downward trend in the crypto market, which the CRO didn't escape. Despite the recovery that began in January 2023, we can't claim that the bullish trend has returned.
CRO technical analysis
The CRO price is still moving in a downward channel despite the recent recovery. Moreover, on 21 February 2023, the price started to fall before reaching the upper boundary of the channel. The MACD and the moving averages indicate a clear bearish sentiment. The RSI, however, is in an oversold area, indicating an increasing probability of a rebound.
The nearest strong support level is $0.055. The nearest resistance levels are $0.087, $0.099 and $0.128.
Cronos (CRO) price prediction 2023
As with most altcoins, the price of CRO in 2023 will largely depend on the overall health of the crypto market. It's currently showing signs of recovery, but it's too early to speak of the bullish trend return.
Cronos (CRO) coin price prediction for 2023, 2025, 2030 and 2040
As a popular altcoin among the top 50 cryptocurrencies, CRO could not escape the attention of forecasting services. Let's take a look at what they think about the future of the token.
Wallet Investor's CRO crypto price prediction for 2023, 2025, 2030 and 2040
According to WalletInvestor's forecast, the CRO's price will drop even further in the coming years. They predict the token will be worth $0.00425 at the end of 2023, $0.00239 at the end of 2024 and $0.00071 at the end of 2025. The price will only begin to recover in 2026 and reach $0.00439 at the end of 2027.
DigitalCoinPrice's CRO price prediction for 2023, 2025, 2030 and 2040
DigitalCoinPrice, on the other hand, expects the price of the token to rise. They believe CRO's price will reach $0.13 at the end of 2023, $0.16 at the end of 2024, $0.20 at the end of 2025 and $0.65 at the end of 2030.
Cryptopolitan's CRO price prediction for 2023, 2025, 2030 and 2040
Cryptopolitan expects the token price to rise even more markedly in the coming years. According to their calculations, the average token price will be $0.11 in 2023, $0.16 in 2024, $0.22 in 2025, and $1.48 in 2030.
CrytpoNewsZ's CRO price prediction for 2023, 2025, 2030 and 2040
CrytpoNewsZ's forecast is broadly similar to that of DigitalCoinPrice and Cryptopolitan. They expect the average price of the token to reach $0.1075 in 2023, $0.31 in 2024, $0.49 in 2025, and $1.275 in 2030.
Price Prediction's CRO price prediction for 2023, 2025, 2030 and 2040
Price Prediction generally agrees with the above forecasts. According to them, the token average trading price will be $0.097 in 2023, $0.15 in 2024, $0.22 in 2025, and $1.33 in 2030.
CryptoPredictions'CRO price prediction for 2023, 2025, 2030 and 2040
CryptoPredictions also anticipate a slow rise in the CRO price. According to their forecast, the average price will reach $0.086 by the end of 2023, $0.117 by the end of 2024, $0.147 by the end of 2025 and $0.168 by the end of 2027.
Register on StormGain Now
Cronos (CRO) overall future value predictions
Is Cronos coin a good investment?
The future of the CRO token depends entirely on the success of the Crypto.com platform. The platform is now a pretty big player in the crypto industry, managing to attract a fairly large number of users, and continues to grow. The integration of cryptocurrencies into everyday payments has long been in demand and is a promising niche. However, the project also has some drawbacks and red flags:
- Crypto.com is far from being the only company operating in the niche of combining cryptocurrencies with the 'traditional' economy. The competition in this area is pretty intense.
- The business past of the company's CEO, Kris Marszalek, is quite questionable. Before founding Crypto.com, he was involved in many ventures that ended in failure.
- The hack of the platform in January 2022 left many users questioning the security of the platform.
- There is a rather noticeable number of negative feedback from platform users. Among the main issues reported are difficulties with verification, problems with authentication after app updates, and unsatisfactory technical support.
- The company uses a fairly aggressive advertising strategy, including numerous sponsorships and celebrity endorsem*nts, which some in the crypto community find alarming.
How high can the CRO coin go?
If the platform can withstand the competition and justify the trust of its users, the CRO price could exceed $0.50 during the next bull run.
Cronos (CRO) token price prediction today
At the moment, the token price is falling along with the rest of the crypto market. The nearest strong resistance level it is likely to rebound from is $0.055. If it's broken, the next resistance level is $0.032.
Register on StormGain Now
