CRO with great potentialHello.
Below is an analysis of Crypto.com, an exchange that is aggressively marketing and that is snapping up the market.
F undamentalist analysis
Crypto.com has two main products: the centralized exchange and the DeFi wallet.
In the DeFi wallet, it is already possible to interact via the Ethereum network and two own blockchains: "Crypto.org Chain" and "Cronos".
"Crypto.org Chain is a blockchain application built using Cosmos SDK and Tendermint, intended as a backbone for some of the existing and future Crypto.org ecosystem".
It was released about 1 year ago.
"Chronos is the compatible EVM chain running in parallel to the Crypto.org Chain (opens new window). It aims to massively scale the DeFi Chain ecosystem, by providing developers with the ability to rapidly port apps from Ethereum and EVM-compatible chains, with funding from Particle B's $100m EVM fund (opens new window) and access to the 10M+ user base of the Crypto.com ecosystem".
It was released on 8 Nov 2021.
CRO is the native currency of these blockchains to pay gas and make transactions, just as BNB is from the Binance network.
Summary
In my view, Crypto.com has an undervalued market value compared to larger exchanges like Binance.
Also, her marketcap is smaller than worthless projects like DogeCoin and XRP.
So, with the portability coming from the Cronos blockchain to Dapps that already run on the Ethereum network, the trend is to grow even more.
On-Chain Analysis
We consider relevant the Glassnode indicator "Average Value of a Transfer in USD".
Every time we hit a peak (red arrow), we usually hit a top. Except for the green arrow this did not happen.
Therefore, it is recommended to stay alert when this transfer spike reoccurs.
Looking at Fibonaci, the next target I believe is $1.30
