CRO: Will it Really 20X? - YouTube

The CRO Token - did we miss the boat

or is there still room for a 20X?

Let's dive in and find out.

CRO is the token for Crypto.com,

one of the top five exchanges in the entire world.

Crypto.com has managed to gain 10 million users

in ten unique countries world worldwide.

And their advertising is basically everywhere,

from their logo on the Staples Center,

UFC fighter sponsorships,

Formula One cars, and even Matt Damon is

now doing commercials for Crypto.com.

Also, to spice things up for this video,

I'm going to run a trading bot on the CRO token

and then we'll check in at the end of this video

to see how this performs.

So we're going to run a Spot Grid bot.

Click Create.

We're going to put $1,000 into this bot.

Click OK.

I'm going to leave the AI parameters set.

Click Create.

Everything looks good, Confirm.

And we'll check in on how this thing performs

at the end of the video.

Now, before we get into whether the CRO token

is a buy, we need to understand the fundamentals.

In November 2018, Crypto.com

launched an ERC20 token,

which had an initial supply of 100 billion

of which were initially held by Crypto.com.

There was no presale, no public sale

and no ICO for this token.

Then in February 2021, Crypto.com

relaunched their token on their very own

Crypto.org native blockchain.

Now, in preparation for this launch,

Crypto.com did something kind of surprising.

They announced that they would be burning 70%

of the entire CRO supply,

accounting for almost all of the

company's own CRO holdings.

Now, out of the 70 billion coins here,

59.6 billion CRO were burned right away

and 10.4 billion will be burned over time

as tokens are unlocked from smart contracts.

Before the burn, CRO was priced at $0.08 per token.

Now, seven months after that burn,

the price is at $0.59.

This is the largest token burn in history

by dollar value, and it makes the CRO token

a deflationary asset.

So on top of this token being deflationary,

it is also stakable.

You can stake CRO tokens on an exchange

or through the Crypto.com app directly,

which releases staking rewards weekly.

Given these factors, rates on Crypto.com

are about 6% APR on the high end.

But you can actually do better than this.

I found that, on their DeFi wallet,

you can get rates as high as 23% APR.

However, in order to get this rate

If you only have the ERC20 version,

you can actually migrate your ERC20 CRO

to the native CRO

with their in- app CRO Migration Tool,

and then you can go ahead and stake on DeFi Earn.

The total amount of token staked is

3.47 billion, which is approximately

14% of the circulating supply.

The more the supply that is staked,

the easier it is for the price to run up

in the future, because fewer people will

be able to sell their tokens right away.

Now, let's break down the pros and cons

of buying the CRO token right now.

In November, this token almost hit $1,

where it found itself in the top ten digital assets

in the entire world by market cap.

In this time you saw CRO mentioned

literally everywhere.

This is the most high risk time to invest

in a stock, a crypto, or really any asset.

I know that's easier said than done.

But it's human nature to expect something

that is doing extremely well

to just go ahead and keep doing well.

at that time.

It's an unfortunate reality that the

best time to buy something

is when others are bored

or others are scared.

This is what I like to call bonfire investing.

The best investments I've ever made

are the ones that felt like I was straight up

throwing cash into a bonfire when I did it.

This is because I was buying at bloody bottoms

in projects, projects that I believe

had a lot of potential.

But those are the times when

I had the returns.

I was buying when other people simply weren't buying.

And well, the CRO token has

corrected significantly from all-time high.

So are we in this bored or fearful territory?

That's what we need to find out.

Right now, the CRO token is down

38.6% from its recent all time high,

but it's around 70% up from

where it was just at the end of October.

So there seems to be some price support

around the mid 50 cent range.

However, that's slightly less

than where we're sitting right now.

This says to me that we're out of

scary territory, but of course there is still risk.

If you're interested in CRO at this time, the

easiest strategy mentally

is to simply dollar-cost average

into a position here.

So let's say you wanted to invest $1,000 in CRO.

and this would flatten the volatility

However you want to do it, there's no

no right or wrong method here.

And luckily there's actually bots

that will do this for you.

So you don't have to think about

doing your daily buy of $50.

I've used the Kucoin DCA bot

several times in the past by just

auto-buying a set amount daily.

I'll have Kucoin linked in the description of this video,

if you're interested in trying that out.

It's kind of cool to automate this kind of stuff

with a bot.

Just be a smarter investor with a bot.

Now I will say, for every ounce of excitement

around CRO, there seems to be

a pound of confusion.

So for example, I saw a TikTok yesterday

that said BNB, Binance's native currency,

costs nearly 1000 times more

than CRO per coin.

However, Binance has only

2.8 times more users,

and the hypothesis of this TikTok

was that, that means CRO is severely undervalued.

So while Binance's coin price

is nearly 1000 times CRO's,

the market cap is only about six times larger.

Now, this still could be an argument that

CRO is slightly undervalued compared to BNB,

just not 1000 times undervalued.

So given Binance's market cap of 93 billion

and their 28 million users,

BNB has about $3,300 in market cap

for every user on the Binance platform.

CRO has a market cap of $15 billion and

10 million users,

so CRO has a market cap of about

$1,500 for every user

on the Crypto.com platform.

So based on these factors alone,

one could argue that CRO is slightly

undervalued when compared to BNB.

However, of course, this is the real world

and there are far more variables than just

user base that we need to consider

are factored into a crypto's price.

Now, there are other benefits in

holding the CRO token

that we should discuss as well.

So holders of this token are

eligible to get discounted prices when

trading on Crypto.com.

Holding this token also offers

access to their Syndicate program,

where holders are able to receive

priority token allocations when

new digital assets are listed on Crypto.com

and holders are able to participate in their

Supercharger, which is a rewards platform

that allows users to stake tokens

with the option to withdraw at any time.

Crypto.com has their own NFT marketplace

where you can purchase NFTs with

the CRO token directly from celebrities

like Snoop Dogg.

So as you can see, an investment in the token

makes the most sense if you're an active user

of the platform.

However, that being said,

it's an interesting token with

with a lot of excitement behind it.

And the crypto bot results are in.

This has been running for just over four days now.

Let's go ahead and check how it's doing.

We are down, 1.1%

now I have to say, I'm not super surprised about this

because the token has decreased in price about

but 5% since I started the bot

and bots lose money when a token goes down in price,

you just don't lose quite as much as

the full 5% or whatever was lost.

You make money when bots are trading sideways

or going up in price.

So I got to be transparent with the results.

I'm just going to let this run a little bit longer

to see how it does longer term.

So it's no secret that Crypto.com is everywhere

and brand awareness alone could

take this token really far.

I'm just impressed with all that Crypto.com has

accomplished this year from their token burn,

the launch of their native blockchain,

and the launch of their Chrono sidechain.

I look forward to seeing how the CRO token

performs throughout 2022.

Now a final note here to check out my sponsor, BlockFi,

where you can earn a yield

on a variety of the largest cryptos

and stable coins, and they offer a

Crypto Credit card with excellent benefits,

including how it pays you cash back in Bitcoin.

I will have BlockFi linked in the description below.

From here, I also recommend you check out

this video on smaller, high potential crypto projects.

Now I would like to thank you so much for watching

and I hope you have a profitable day!