TL;DR Breakdown
- CRO sees docile price movement in Dec.
- Analysts bullish on token.
- OKEx set to start Crypto.com staking service.
Amidst the stagnancy Crypto.com (CRO) faced in December after a bullish November, analysts are beginning to predict a bullish January for the utility token.
In November 2021, Crypto.com announced back-to-back deals with a host of football clubs and secured the naming rights to LA Lakers’ Staples Centre in a $700 million deal.
The aggressive marketing mix alongside reports that Coinbase exchange would list CRO after the rise in demand fueled the massive rally.
After the notable rally and a new ATH of $0.96 in the last week of November, general interest and confidence around the coin started waning, and the same could be seen in CRO’s declining trade volumes. As a result, the coin lost around 44% of its ATH after the early December flash crash. CRO currently trades at $0.54.
Crypto.com has been trading in a tight range between $0.50 and $0.61. The docile price movement has lasted for over thirty days.
CRO to surge despite recent slump
ShardiB2, a pseudonymous crypto analyst, has predicted a spike in Crypto.com price. The analyst evaluated the Crypto.com price trend and revealed his bullish outlook.
Similarly, analysts at the YouTube channel CryptoCache believe that if the next higher low is over $0.571, Crypto.com’s price could bounce and break into an uptrend.
The bullish predictions come on the heels of news that Crypto.com turned out to be important for a national-level blockchain association with the National University of Singapore.
Crypto.com has turned into a Gold Member of the Singapore Blockchain Innovation Program. The National University of Singapore teamed up with Enterprise Singapore, Infocomm Media Development Authority to encourage blockchain innovation.
Crypto.com also received a massive boost as Seychelles-based cryptocurrency exchange OKEx announced it would launch CRO staking service on Thursday.
According to a statement by the crypto exchange on Wednesday, the staking service is estimated to accrue at least a 13.20% yield. After the service comes live on OKEx on Thursday, it would strengthen CRO utility and liquidity.
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