The Crypto.com Coin price has made a spectacular recovery in the past few weeks as the volume of cryptocurrencies has jumped. The CRO price is trading at $0.2235, which is about 175% above the lowest level in July. It is also a few points below its all-time high of $0.2758 and its total market capitalisation has jumped to more than $5.5 billion.
Why is CRO rallying?
Crypto.com is a leading blockchain project based in Singapore. The company operates a whole suite of products to cater for the decentralized industry. For example, it operates a leading crypto exchange that trades crypto worth more than $1 billion per day.
The company also offers products like crypro visa cards, an NFT marketplace, and an online wallet. At the same time, it owns Crypto.org, a platform for developing decentralized platforms.
Crypto.com has grown its number of users to more than 10 million people. It has done this by spending a fortune on online advertising. It has become a leading sponsor of Formula 1, one of the best-known sports in the world. It is also a leading sponsor of UFC and Paris St Germaine.
Now, the company is gearing towards its biggest advertising blitz ever. The firm has partnered with Matt Damon, who is also its investor, to popularize its service. It aims to spend about $100 million in marketing. The ads will run in about 20 countries, including the US and the UK. Other celebrities who will be involved in the marketing will be Ronda Rousey, Carmelo Anthony, and Scott Kelly.
Crypto.com Coin price prediction
The daily chart shows that the Crypto.com Coin price has been in a strong bullish trend lately. The coin has risen to a high of $0.2275, which is a few points below its all-time high. The coin is also above the ascending trendline shown in black. It has also moved above the 25-day and 50-day moving averages while the MACD has been rising as well. The coin is also above the key support at $0.200.
Therefore, the path of the least resistance for the CRO coin is to the upside. The next key level to watch will be $0.300, which is about 36% above the current level.