The host of the YouTube channel Coin Bureau estimates that a digital asset market’s local currency could be the largest crypto exchange token.
The analyst known as Guy said in a new video to his 1.65 million subscribers that the firm aggressively promoted its platform, leading to Crypto.com’s brand awareness, cryptocurrencies. CROHe says it gives .com an advantage over other exchange tokens.
Earlier this month, the Singapore-based company struck a $700 million deal to rename Staples Center, home of the Los Angeles Lakers and Los Angeles Clippers, to Crypto.com Arena.
Guy also talks about the fundamentals of CRO, which he says could increase the value of the coin to $1, indicating a potential increase of about 30 percent from its current price of $0.70 at the time of writing. CRO seems to be able to reach $1 in a very short time.
“As a result of its use in the crypto.com ecosystem, the CRO has many drivers of demand. Now that the CRO is owned by a blockchain with smart contract functionality, this additional size of demand could be enough to raise the CRO to a dollar before the current crypto bull market ends.”
In addition, the Coin Bureau host also mentions the numerous use cases of CRO in the Crypto.com ecosystem.
“Crypto.com offers a range of crypto-related products and services, including trading, lending, lending, staking, DeFi (decentralized finance), wallets, and payments, while its most famous product is probably metal crypto Visa debit cards.
Almost all of Crypto.com’s components include the CRO. To cite a few examples, the CRO must be purchased to obtain the Visa debit cards mentioned above. It can be staked for additional returns and also provides trading discounts on the Crypto.com exchange.”
Alongside these, Crypto.com announced earlier this year that it will destroy 70 billion CRO tokens. According to Guy, about 60 billion CRO coins have already been burned:
“The remaining $10 billion in CRO tokens are locked into ‘smart contracts’ and will be burned monthly as they are unlocked.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.