By Franklin Smith
Briefly –
- com Coin (CRO) has suffered massive plummets recently.
- The altcoin has lost over 45% since touching its ATH.
- Here is what you can expect in the up-and-coming weeks.
Crypto.com Coin price losses steam after November’s spectacular comeback. For now, the alternative crypto trades near $0.54, nearly 45% beneath its ATH. The downtrends saw the coin’s total market cap declining to around $13.58 billion.
CRO Sell-Off
Crypto.com is among the leading blockchain firms in the globe. It has many investment services that attract users to its ecosystem. For instance, the company’s exchange transacts digital coins worth over $2 billion per day. Moreover, it introduced a visa card that users can utilize for cryptocurrency payments.
Moreover, Crypto.com had other services, such as an NFT market where individuals can build and trade non-fungible tokens. Also, it owns the Crypto.org chain, using CRO as the native coin within the decentralized P-o-S platform.
CRO saw a sharp rally during November sessions as market players cheered multiple news from the firm. For instance, developers revealed an advertising company that costs over $100 million during the month. It is on top of the existing marketing strategy, including a search engine and social media ads.
Developers also unveiled a $700 million deal to brand a recognized stadium in Los Angeles. The previous Staples Center switched to Crypto.com Center. Also, FTX Miami Dolphins stadium rights some months before that.
Crypto.com has also sponsored several sports. For instance, it is among the top Formula 1 sponsors. Keep in mind that Formula 1 boasts millions of fans globally. Moreover, Crypto.com declared a deal worth over $200 with IG Group, planning to acquire two exchanges. Therefore, the current crash by CRO price reflects the ongoing drops in other digital assets and profit-booking.
CRO Price Analysis
According to the daily chart, CRO has seen a massive sell-off over the last few weeks. The coin wavers slightly under the 25-day MA as the MACD shifted under the neutral line. The alt’s plummets resemble a declining wedge pattern. That means that the coin can rebound in the weeks to come as bulls aim the ATHs.
Where to Buy CRO Now?
Users require a low-fee trading platform with a reliable record to invest without challenges. Some of the globally recognized brokers include –
eToro- trusted by more than 13 million users across the globe.
bitFlyer – regulated and easy-to-use investment services.