Launched in 2016 in Singapore to accelerate the uptake of cryptocurrencies globally, Crypto.com offers users an impressive array of financial products.
After a massive promotional push by the company – including a $100m advertising campaign starring Matt Damon – Crypto.com’s native token CRO, now rebranded as Cronos, enjoyed a meteoric rise in late 2021. But what is Cronos? This article will show you about Cro coin price prediction: How high will Cronos Crypto go?
Introduction
Initially developed as a crypto payment product, Crypto.com is comparable to a crypto bank. It offers different kinds of crypto Visa cards, an exchange, brokerage services, a wallet and a native coin that can be staked for rewards, making it a one-stop-shop for all things crypto.
Users can earn interest by staking CRO coins, and also gain access to different tiers of reward systems on paid-in-advance Visa cards.
On the Crypto.com exchange, users across most of the US can trade and store more than 250 cryptocurrencies. More than 20 fiat currencies are accepted on the exchange, including USD, GBP and EUR.
With more than 50 million investors using the Crypto.com exchange and widespread global uptake of crypto – predominantly as a store of value, but also as a replacement for traditional currency – Crypto.com has gained some real traction in the market. But what does this mean for the CRO price prediction?
Spikes and surges
After the launch of CRO in late 2018, the coin made modest gains. From $0.02147 on 1 January 2019, the CRO price reached $0.09264 on 10 July 2019. In 2020, the CRO price again rose significantly, reaching $0.1798 on 1 September 2020. The coin also saw a bullish rally in spring 2021, reaching $0.2468 on 5 April.
These gains paled in comparison, however, to the surge seen towards the end of the year, when CRO peaked at its highest-ever price of $0.9005 on 23 November 2021, representing a 1,400% increase over the 11-month period.
The spike followed publicity surrounding the company’s Matt Damon advertisement and the renaming of the stadium where the Los Angeles Lakers basketball team plays as the Crypto.com Arena in a 20-year, $700m deal.
The immediate threat posed by regulation from the US Federal Reserve is a commonly cited reason for the steep decline in crypto values over the closing months of 2021 and creeping into 2022. A potential crypto winter, as well as the looming threat to global markets posed by the Omicron variant of Covid-19, compromised investor confidence and, by 22 January this year, the coin receded to $0.3284.
However, there was some recovery towards the end of the month and into February; on 9 February 2022, Crypto.com announced a partnership with Formula 1, which is set to run for nine years. The coin CRO reached a high of $0.54 the following day.
On 18 February 2022, Crypto.com announced the rebranding of the Crypto.com coin as cronos, to reflect “the decentralisation of the coin and tremendous growth of Cronos ecosystem”.
CRO closed out the month of February at $0.4388 and remained on a general downtrend, hitting a low of $0.3727 on 15 March.
In late March, FIFA announced that Crypto.com will be the official sponsor of the FIFA World Cup Qatar 2022, marking another milestone in Crypto.com’s efforts to enter the sports space and prompting a flurry of press attention. By 28 March 2022, the token was trading at highs of $0.50. However, since then the price has dipped.
Despite the announcement that Cronos had partnered with Chainalysis to enable real-time transaction monitoring for CRO and all CRC-20 tokens running on the Cronos network, the token was stuck in a bearish trend, closing the month of April at lows of $0.35.
Worse news was to come, and May 2022 ushered in a market-wide crash, hinting at signs of a deeper crypto winter. The token hit lows of $0.17 and, despite a slight recovery in the following days, has largely traded sideways since.
Cronos coin price prediction: Expert opinion
It is important when looking at Cronos coin price predictions, to remember that while they can be helpful as an indicator of which direction the price may move in, they should be viewed as possibilities rather than absolutes.
This is especially the case when looking at long-term forecasts, as these can sometimes be completely off the mark. This is due to both the inherent volatility of the crypto market and the many unknowns which could affect future prices.
With that in mind, let’s look at some Cronos (CRO) price predictions.
Cro coin price prediction: How high will Cronos Crypto go?
WalletInvestor makes a CRO coin price prediction that suggests the price could go down to under $0.009 in a year’s time and not make any consistent recovery, stating the token is a “bad long-term (one-year) investment”.
Another bearish forecast can be found from Gov Capital, where the Cronos price prediction for 2022 suggests the coin will not recover. The site thinks the token will be worth nothing by the end of next month.
DigitalCoinPrice suggests that CRO should stay between $0.20 and $0.21 in 2022. The site forecasts an average value of $0.21 in 2023 and $0.22 in 2024, while its Cronos price prediction for 2025 is $0.28.
PricePrediction, on the other hand, suggests an average of $0.26 in 2023, $0.37 in 2024 and $0.54 in 2025. The site suggests a general year-on-year uptrend, leading to a Cronos price prediction for 2030 of $3.20.
Hope you can get a better understanding about Cro coin price prediction: How high will Cronos Crypto go.
