I’m buying Crypto.com coin (CRO) this week [21 June], and this is why!

on Jun 21, 2021
Updated: Jun 22, 2021
  • Crypto.com Coin (CRO) is the cryptocurrency token used on the Crypto.com Chain.
  • CRO has experienced a drop in its value throughout the month even with increased user activity.
  • Future collaborations and real-world implementations could make its value rise again.

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Crypto.com Coin CRO/USD price has fallen from $0.2452 in mid-April to its current levels of around $0.09. Over the same time period, daily trading volume has weakened and this is typically viewed as a negative catalyst.

However, investors should look to take advantage of the weakness in CRO coin and buy it ahead of expectations for a rebound in the coming weeks.

Crypto.com latest developments

CRO is an appealing option to invest in after securing groundbreaking work with other companies while simultaneously adding new coins and trading pairs to its website. 

After all, the value of CRO is defined by its decentralized, open-source blockchain which facilitates payment, trading, and financial services. So, the more users that come to the exchange, the higher the value of CRO rises. At this time, Crypto.com has been working on several projects, and they have been making spectacular progress.

On March 29, Crypto.com announced its collaboration with Visa Inc (NYSE: V), where they successfully made the first settlement of transactions through the usage of USDC. 

This marked a huge milestone for the cryptocurrency industry and as such, paved the way for Crypto.com’s popularity and real-world use-cases alongside USDC. 

What this means is that users will have the opportunity to purchase real-world products or services through the usage of cryptocurrencies just by using their Visa, which is fascinating to think about and will quite possibly bring a lot more traffic to Crypto.com which would lead to an increase in their native currency, CRO.

On June 18, Crypto.com Capital made a strategic investment in Hodooi.com. It is a multi-chain NFT marketplace and Crypto.com capital’s support will extend beyond just funding, and the team will work closely with Hodooi.com to integrate support for the Crypto.org Chain.

This chain is the first major mainnet upgrade which includes the NFT module support and has more planned for the future. The support for the Crypto.org Chain by HoDooi.com expanded the options for creators and collectors alike.

Most recently, Crypto.com listed AMP, as well as the Amp and USDT trading pair. This interest should bring the AMP community and investors closer to Crypto.com due to the fact that it is a viable trading option.

Should you buy Crypto.com now?

With all of this being said, the price of CRO has the potential to rise again by the end of the month.

As of June 21, CRO was trading $0.0928. If we look at the chart, we can see that the price has struggled lately. However, it has remained in a tight range, with no extreme volatility while the $0.06 level acted as a support level where buyers rushed in to buy the dip.

As such, it is highly likely that we can see the price remaining this way by the end of June, before spiking back up in value as of July when more of its projects release and we can see an increase in popularity. 

At $0.0928 it might be a worthwhile investment if you want to hold on to it for a bit, with the expected range rising to $0.20. Perhaps a more prudent strategy is to buy half your desired position at $0.10 and the other half if it falls to $0.06. This would average out your cost to $0.08 and represents a great entry point given CRO’s recent progress and encouraging long-term outlook.