CRO Coin Price Prediction | Is CRO Coin a Good Investment? (2024)

It is the native token of two blockchains, but what is cronos (CRO)?

Let’s take a look and see what we can find out, as well as looking at some of the cronos price predictions that were being made as of 20 December 2022.

Cronos explained

The cronos (CRO) coinis the native cryptocurrency of both the Crypto.com blockchainand the Cronos EVM chain, whichrun parallel to one another.

The Cronos EVM chain claims to be the first Ethereum-compatible blockchain built using the Cosmos software development kit. It is open-source, meaning that anyone can use it, and it’s permissionless, meaning that two users can carry out a transaction without having to get the permission of a central authority figure on the network.The aim is to let developers move applications from other blockchains instantly, allowing them to benefit from low transaction fees.

Crypto.com, which is based inHong Kong,operates as a platform and app where users can buy, sell and earn digital assets. It was founded in 2016 by Kris Marszalek,a Polish-born entrepreneur,together with Bobby Bao, Gary Or and Rafael Melo, and has since acquired more than50 million users.

The platform offers anon-fungible token (NFT) marketplace, as well a Visa card that allows people to gain 8% cashback and can be used in around 40 countries. It has a crypto wallet, a token-swap facility, the possibility of earning daily rewards and interest, and the ability to monetise crypto assets without having to sell them.

According to the Crypto.com whitepaper, the Cronos ecosystem “represents the next major phase in the adoption and utilisation of Web 3.0 by hundreds of millions of users”.

Apart from powering the system, cronosis also used for staking, which rewards users with perks such as free Netflix and Spotify subscriptions, a number of cashback fee rewards, better interest rates, higher yearly percentages on the Crypto.com exchange, an additional 2% a year on fixed-term deposits, and numerous other rewards.

By staking CRO, users canbecome liquidity providers. The cronos cryptocurrency is also used to settle transaction fees on the Crypto.comchain.

Cronos price history

Let’s now take a look at the CRO price history.While past performance should never be taken as an indicator of future results, knowing what the coin has done in the pastcan help give us some important context if we want eitherto examine a cronosprice prediction or make oneof our own.

CRO went live in mid-December 2018, when it was worth about$0.0153. The coin’s value then rose almost sevenfold to $0.103 on 15 March 2019, before more or less stagnating until the late spring of 2020, when its value started to grow steadily.

Between 14 March 2020, when the cryptocurrency was valued at $0.03187, and 31 August 2020, the token rose more than fivefold, reaching $0.1785. These gains could have been due to the launch of the Crypto.com wallet in late March.

The next big CRO gains came at the start of 2021, when it responded to a bullish market and jumped by around 285%, from $0.06362 on 4 February 2021 to $0.2452 on 15 April 2021. The crypto then slid down but staged a comeback in the autumn, reaching an all-time high of $0.9005 on 23 November 2021. After that, though, the price drifted back down and it closed the year at $0.5575.

Crypto.com did not shy away from boasting of its fast-achieved popularity and great successes, becoming the first global crypto exchange to launch its own NFT platform, gaining the endorsem*nt ofAcademy Award-winning actor and writer Matt Damon for its global brand campaign.

But 2022 has been a poor year for CRO. It fell down initially, before managing to briefly top$0.50 on 9 February. However, positive sentiment surrounding its value did not last long, despite it rebranding from crypto.com to cronosin an attempt to reflect “the decentralisation of the coin and tremendous growth of Cronos ecosystem”.

The price of CRO started to decline once Crypto.com decided to slash some of itsstakingrewards,as well as ending some prominent partnerships.

By 12 May 2022, with the market in turmoil after the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency, CRO was down to$0.1694. Things got even worse the following month, when the cancellation of withdrawals on the Celsius (CEL) crypto lending platform confirmed the bear market,and cronos sank to$0.09902 on 18 June.

In other CRO news, the platform announcedon 25 July 2022that it had launched a Google Pay in-app feature “allowing users to purchase crypto quickly and securely”.

A few days earlier, on 23 July 2022, the platform also announced a series of updatesto its Crypto.com Visa cards.

By 5 September 2022, cronos was worth about$0.1185. By 13 October, despite the release of a roadmap setting out how the system would become more scalable, the price had dropped to $0.09653. After that, there was a recovery to $0.1183 on 6 November, but then things got really bad.

It was revealed that Cronos had accidentally transferred ether (ETH) wortharound $400mto the wrong crypto account.

The news came right after the collapse of the FTX (FTT) crypto exchange, and the price of CRO crashed by almost 30% in a matter of hours, sinking to a low of $0.05629 on 14 November. By comparison, it had traded at a little over$0.08 the previous day.

After that, there was another drop to$0.06156 on 28 November. It madesomething of a comeback to trade at$0.06572 on 6 December before it fell back to $0.05629 on 20 December 2022.

After the FTX collapse, Cronos published its holdings. On 11 November it appeared to have assets of more than $2bn but, by 16 November 2022, that figure was down to a little over $600m, before rising back to $3.3bn as of 1 December. Either way,it is important to note that the platform had no debts.

At that time, there were about 25.26 billion CRO in circulation out of a total supply of just over 30.26 billion. This gave the coin a market cap of about $1.4bn, making it the 28th-largest crypto by that metric.

CRO coin price prediction round-up

Let us now take a look at some of the cronos price predictions that were being made as of 20 December 2022.Keep in mind that price forecasts, especially for something as potentially volatile as cryptocurrency, are often wrong. Also, long-term crypto price predictions are often made using an algorithm, which means they can change at any time.

CoinCodexmade a short-term cronos cryptoprice prediction that said the coin could fall to$0.050730 by 25December, with it then potentially making a recoveryto $0.057184 by 19 January 2023. The site’s technical analysis was bearish, with 24 indicators making negative signals against nine making bullish ones.

CoinsKid made a CRO coin price prediction for 2023that said the coin could close theyear at $0.0562 before potentially reaching $0.1192 in December 2024. Thesite made a cronos price prediction for 2025 that said CROcould be worth $0.1226 by the end of the year, before potentially tradingat $0.1913 in December 2026.

DigitalCoinPrice had a cronos coin price prediction that said the coin could be worth $0.068this year, $0.13in 2023 and $0.19 in 2024. The site’s CRO coin price prediction for2025 said CRO could be worth about $0.25that year.

By 2027, though, its forecast suggested the coin couldreach $0.30, beforereaching $0.41in 2028 and potentially closing the decade at $0.57. The site made a CRO coin price prediction for 2030 that said CRO could trade at $0.80that year before reaching $1.08in 2031.

Finally, Wallet Investor struck a far more bearish note in its CRO price prediction, suggesting that the crypto could face a torrid time over the next year and drop to a mere $0.0127 by December 2023.

When considering a CRO coinprice prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. Analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency coins or tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.

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