CRO (Crypto.com) - FAnalysis from 2y user and Technicals
Hello everyone,
This is an in-depth analysis on why I HODL and keep buying CRO (Crypto.com's native token) as a double digit % of my crypto portfolio.
Fundamental Analysis:
First of all, the main product of the company are their debit cards with perks such as Spotify, Netflix and free from fees, which is phenomenal. There are top tiers that you will need to stake more of CRO tokens in order to be eligible for. The system that this builds makes it easier and easier for crypto investors to have better cards by the increase of the price, since card tiers are based on USD values. The benefits get exponencially better for each of them, therefore we will always have a goal of going up a level, but the levels are 10x away from each other, which means the price of CRO has to go up 1000% before you upgrade to a better card, it sounds like a lot but for crypto it can be easily accomplished specially with a low marketcap that we have right now on the coin.
For a 2-year user of the app, all I can say is that without Crypto.com I wouldn't be able to buy many of the 100x coins that I hodl, such as ADA. The syndicates are events that let you stake your cro tokens in exchange for the right to buy 50% off selected coins. They do it every month and the estimated APY varies. The supercharger is a new product they added where you can also stake CRO in order to participate in a pool that will help mine/stake the underlying coin in order to receive based on the participation. The security of this app is high and they even have a DeFi wallet (100% decentralized on your phone) in which you can also stake CRO's for high APYs such as 12%. Their NFT platform and partnerships are great, the first ones are a success, and they will keep striving for better and unique content. The exchange is also a positive point for the platform as they've opened the doors to leverage.
If we were to match the current marketcap to Binance's, which is of course the biggest and safest exchange on the world, it is still far behind with 13x difference. I remember when CRO and BNB had the same marketcap in 2019. They were big competitors not like DOGE and SHIBA but Binance ended up winning for many trading advantages, but I still believe Crypto.com has the potencial to overtake '' because it has much more investing advantages and the user interface is way more friendly.
Technical Analysis
-Big monthly rising wedge: usually this is a bearish pattern after a bearish wave down, but since it was up from the beginning, I'm counting this as a positive and this can lead to a major breakout, badly compared to the Bitcoin decending trendline that we broke last year.
-Resistance turned into support: the buy zone that is most important are the weekly lows of ~$0.15-, this level will provide great buying opportunites and the risk/reward with a good 30% spot loss of 80:1 (Risk $1000 and make $80000). The other generational buying opportunity is at the S&R flip of the 2019 ATH ~$0.12
-Fibonacci retracement: the most significant fib to look at is from this year's low to where this uptrend ends. The buying level should be between 38.2%-61.8% (log 0.12 to 0.17), but I will DCA as price starts to decend into sub 22 cent region.
All in all, this is an amazing opportunity. As their slogan say, "The future favors the brave", and cryptofunded believes that Crypto.com has the potential to continue as an ever growing leading crypto business.
This is an in-depth analysis on why I HODL and keep buying CRO (Crypto.com's native token) as a double digit % of my crypto portfolio.
Fundamental Analysis:
First of all, the main product of the company are their debit cards with perks such as Spotify, Netflix and free from fees, which is phenomenal. There are top tiers that you will need to stake more of CRO tokens in order to be eligible for. The system that this builds makes it easier and easier for crypto investors to have better cards by the increase of the price, since card tiers are based on USD values. The benefits get exponencially better for each of them, therefore we will always have a goal of going up a level, but the levels are 10x away from each other, which means the price of CRO has to go up 1000% before you upgrade to a better card, it sounds like a lot but for crypto it can be easily accomplished specially with a low marketcap that we have right now on the coin.
For a 2-year user of the app, all I can say is that without Crypto.com I wouldn't be able to buy many of the 100x coins that I hodl, such as ADA. The syndicates are events that let you stake your cro tokens in exchange for the right to buy 50% off selected coins. They do it every month and the estimated APY varies. The supercharger is a new product they added where you can also stake CRO in order to participate in a pool that will help mine/stake the underlying coin in order to receive based on the participation. The security of this app is high and they even have a DeFi wallet (100% decentralized on your phone) in which you can also stake CRO's for high APYs such as 12%. Their NFT platform and partnerships are great, the first ones are a success, and they will keep striving for better and unique content. The exchange is also a positive point for the platform as they've opened the doors to leverage.
If we were to match the current marketcap to Binance's, which is of course the biggest and safest exchange on the world, it is still far behind with 13x difference. I remember when CRO and BNB had the same marketcap in 2019. They were big competitors not like DOGE and SHIBA but Binance ended up winning for many trading advantages, but I still believe Crypto.com has the potencial to overtake '' because it has much more investing advantages and the user interface is way more friendly.
Technical Analysis
-Big monthly rising wedge: usually this is a bearish pattern after a bearish wave down, but since it was up from the beginning, I'm counting this as a positive and this can lead to a major breakout, badly compared to the Bitcoin decending trendline that we broke last year.
-Resistance turned into support: the buy zone that is most important are the weekly lows of ~$0.15-, this level will provide great buying opportunites and the risk/reward with a good 30% spot loss of 80:1 (Risk $1000 and make $80000). The other generational buying opportunity is at the S&R flip of the 2019 ATH ~$0.12
-Fibonacci retracement: the most significant fib to look at is from this year's low to where this uptrend ends. The buying level should be between 38.2%-61.8% (log 0.12 to 0.17), but I will DCA as price starts to decend into sub 22 cent region.
All in all, this is an amazing opportunity. As their slogan say, "The future favors the brave", and cryptofunded believes that Crypto.com has the potential to continue as an ever growing leading crypto business.
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