- Summary:
- In this analysis, we explain what to expect for Crypto.com coin price as the price remains stable. We also look at the ecosystem growth
The Crypto.com (CRO) Coin price was little changed today in par with other cryptocurrencies. The coin was trading at $0.12 at 09:40 GMT. That brought its total valuation to more than $3 billion, making it the 31st biggest cryptocurrency in the world. It is slightly above FTX Token and immediately below AMP and EOS.
CRO fundamental analysis
Crypto.com is a leading cryptocurrency exchange that has more than 10 million users. The company provides multiple services like a visa card, NFT trading platform, and a platform to build decentralized applications (DAPP). According to CoinMarketCap, the company is the 22nd largest exchange in the world. In the past 24 hours, its volume was more than $177 million.
Crypto.com Coin, on the other hand, is the native token for the Crypto.org Chain, which is similar to Binance Smart Chain, Polkadot, and Ethereum.
The biggest challenge for the ecosystem is that relatively few developers currently use it to build their decentralized apps. In fact, it is relatively difficult to find apps, games, and NFTs built using the network. This is unlike Ethereum that has hundreds of projects like Aave, Uniswap, and Maker.
The Crypto.com Coin price has also stalled as investors reflect on the Fed interest rate decision. In it, the bank left rates unchanged and said that it will not hike any time soon. This is a positive thing for cryptocurrencies and other risk assets.
Crypto.com Coin Price Prediction
Turning to the three-hour chart, we see that the CRO price has been in a strong bullish trend after it crashed to $0.0980 last week. This means that it has risen by about 20% since Tuesday last week. Along the way, it has formed an ascending channel that is shown in black. This price is betweeen this channel.
On the three hour chart, the coin is along the middle line of the Bollinger Bands. It is also being supported by the short and longer-term moving averages. Therefore, the coin will likely maintain the bullish trend as investors target the key resistance at $0.1300. On the flip side, a drop below $0.1180 will invalidate the bearish view.
