Crypto.com Coin is soaring. Is it too late to buy?

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Crypto.com is “the world’s fastest growing crypto application”. At the end of June 2021, it was only worth US $ 0.091. Now it sits at US $ 0.76 and appears to be on a zero feed mission. But is now a dumb place to jump on it? Will the price of Crypto.com Coin (CRO) continue to rise or is it better to wait for a withdrawal? Or could it crash completely?

First of all, let’s understand a little more what Crypto.com is. As we mentioned, Crypto.com is called the fastest growing crypto app in the world, which allows you to buy crypto at the real price. It is basically a crypto buy and sell platform, like Binance or CoinSpot. While some people have found it too slow to deposit funds and have moved on to other crypto trading apps, others really believe and love it. Especially the app coin: CRO.

Crypto.com Coin (CRO) is the native token of the Crypto.com chain, a tool created to create a network of crypto projects and develop the ability of businesses to accept crypto as a method of payment. The Crypto.com chain aims to make transaction flows between crypto users and traders easy, profitable and secure. The driving idea is to let people do more with their crypto than just hang on to it.

Basically, Crypto.com Coin is the piece of a promising crypto payment system (which is admittedly currently being inflated by the hype).

Its native coin (CRYPTO: CRO) has been rising like crazy lately, with the surge placing CRO as the 13th largest cryptocurrency by market cap, just below Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO : SHIB), in the 11th. and 12th places, respectively (at time of writing).

This week’s skyrocketing continues a trend off the strong momentum of last week, when Crypto.com paid US $ 700 million (AU $ 969) to put its name on the Staples Center in Los Angeles (home of the Lakers de Los Angeles) for the next two decades – the largest naming rights deal in history, which saw its price hike even more.

Although the holy ground of the NBA (The Staples Center) will not officially be called “Crypto.com Arena” until Christmas Day, when the transition takes place, millions of eyes will be on it as the arena will host it. one of the most watched. basketball games that day. Talk about shining the spotlight on a brand.

Such a huge naming rights deal could be seen as a huge responsibility (for those prone to risk), and something investors might find scary in another context. But for now, it seems to have paid off, with the booming crypto market appearing to be rewarding big evasive maneuvers like this right now (although time will tell if it pays off in the long run). .

Bloomberg reported today that the deal has “paid off” as Crypto.com Coin has grown so much.

Image: Crypto.com coin price chart, from April 2019 to October 2021.

But is now a silly time to buy Crypto.com Coin (CRO)? Is it better to wait for a dip? Or will it go so far that it doesn’t even matter?

There are a variety of views on this. While we recommend that you never invest more than what you can afford to lose in a crypto, one of the things that gives bulls optimism for Crypto.com Coin is that there is more A tangible use case for Coin.com Coin that there aren’t even coins like Shiba Inu or Dogecoin, which operate almost exclusively from hype (despite people like Mark Cuban and Elon Musk pulling the breeze about coins even perhaps becoming payment systems).

Crypto enthusiast Marvin Sandoval who owns a TikTok account with 7,517 subscribers and who recently posted a video claiming he “doesn’t recommend coins” (and claims he doesn’t own any CROs) recently posted a video in which he shared his thoughts about Crypto.com Coin.

Watch Marvin Sandoval share his thoughts on buying CRO now – and whether or not he thinks it’s too late

He says he uses Crypto.com to trade and claims it’s a user-friendly platform (and says they’re working on a bunch of NFTs).

“I think Crypto.com is going to do very well,” said Marvin. “Personally, I don’t think I know enough to personally own Crypto.com [coin]. I think he will continue to tour. Maybe wait for a little pullback like he did the other day, but this one is on an absolute tear and if you are there, congratulations.

Other crucial information for curious CRO investors on Coin.com and its coin (CRO) can be found at The Motley Fool. The Motley Fool reported on Monday: “Cryptocurrencies such as the CRO token remain highly speculative. The fact that this naming rights deal increased the value of the CRO by over 70% in the last week alone is incredible. If Crypto.com had another week like this, it is entirely possible that this token will overtake Dogecoin and Shiba Inu in value by next week.

“Investors in the crypto space seem to value cryptocurrencies based on the value their underlying networks can offer users. The hope is that this naming rights deal will lead to increased activity on the Crypto.com platform. Time will tell how successful this deal is in creating value. “

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