Cronos CRO token emerged in 2018 to facilitate the operations of Cronos chain, an open-source blockchain. The native token enables users to make payments on the blockchain, trade, and stake to earn different rewards. Investors can also make money with CRO coin on a cryptocurrency exchange platform.
As at the time of writing, Cronos's price is $0.08713. The all-time high of $0.9698 was on November 21, 2021. The current average price indicates a loss of 91.11% from the ATH, but a 650.36% increase from its all-time low of $0.01149 on December 17, 2018.
The question is, will CRO reach or surpass its highest coin price given the market volatility? Should a crypto trader consider investing and trading with CRO? Keep reading this Cronos crypto price prediction to know how the token will fare in a few years.
What Is Cronos (CRO)?
CRO or Cronos is a digital currency from CRO Protocol Labs – also known as Crypto.com. Cronos is the first digital asset blockchain to interoperate with Cosmos and Ethereum ecosystems.
The Cronos network supports the metaverse, decentralized finance (DeFi), and non-fungible tokens (NFTs). Its primary aim is to explore the broader Web3 user community. Moreover, users on the Cronos network have the leverage to stake, buy, and sell cryptocurrencies.
The network also allows them to earn digital tokens, store them in a single wallet, and much more.
History of Cronos blockchain
In 2018, the former Monaco Technology GmbH rebranded itself to Crypto.com. The company is an all-inclusive financial platform. It's provides users with digital currency trading services. All its trading services occur in an exchange, and all its payment services takes place on an app.
Crypto.com exchange was birthed after the launch of Monaco Coin (MCO) in November 2018. Before then, Monaco was functioning through the ERC-20 token standard on the Ethereum network.
The notion behind the project was that future CRO holders will start with the MCO token holdings. This was slated to occur at the start of the new blockchain – Crypto.com.
However, it came out on a clean slate, a big blockchain that will take years of development to accomplish.
This fact led to the connection between the Cronos Chain and the Ethereum network. As such, Cronos Chain opts for developing a chain that will function seamlessly with the EVM (Ethereum virtual machine).
On November 8 last year, the Cronos network finally commenced its validation functions on its initial block.
What protocol does Cronos use?
There are two forms of protocols on the Cronos network: Inter Blockchain Communications (IBC) and Proof-of-Authority consensus.
Inter Blockchain Communications Protocol
The Cronos network operates on an Inter Blockchain Communications Protocol (IBC). It is responsible for the interoperability of the Cronos network. Through the IBC protocol, the Cronos network can connect the Crypto.com Chain and several other IBC-based chains, including Cosmos Hub.
Proof-of-Authority (POA) Protocol
According to its developers, the Cronos network also implements a proof-of-authority consensus protocol. The POA protocol is useful for additional scalability and a streamlined consensus mechanism.
Furthermore, it maintains a good security system and a wide range of validators similar to several other parties.
But note that the token staked in the Cronos consensus is not the CRO token. Rather, it’s a token dedicated to governance usage. Usually, such a token is never listed on any exchange and has no market worth.
What makes Cronos different from other cryptocurrencies?
The Cronos network has some characteristics that differentiate it from other cryptocurrencies.
Tendermint is a software that acts as a replica of an application used by the different machines in the Cronos ecosystem. There are two main components of the Tendermint software: Tendermint Core and the application interface.
The former is the consensus engine of the network, while the latter is the ABCI (Application Blockchain Interface). Through the Tendermint Core, validators can be sure to receive transactions in the right order.
Cosmos SDK is an open-source and free framework designed for POA and POS blockchains. Cosmos SDK comes in handy for developers who intend to create custom blockchains on the Tendermint software.
Such blockchains are developed to work together with other Cosmos SDK-based blockchains.
Cronos, at a glance
Factors Influencing Cronos CRO Price
Some factors are responsible for the uptrend and downwards moves of CRO price. Find some of them below.
In the crypto market, if the circulating supply of a particular coin or token surpasses its demand, its value drops.
CRO has a supply cap of 30,263,013,692. It already has a circulating supply of 25,263,013,692. Since the developers can't release new tokens in the CRO market beyond the capped level, the cryptocurrency price will not turn into dust.
Once it reaches the max, new tokens won’t enter, thereby preventing saturation.
If the demand for CRO rises above its supply now or in the future, its price will skyrocket. The token facilitates transactions on Crypto.com, a global cryptocurrency exchange with 4000 employees and over 50 million customers.
As more customers join the exchange, increasing the demand, the trading volume and Cronos coin price will increase. But if the demand falls and supply saturates the market, the reverse will be the case.
The year 2022 brought discouraging price action for many crypto assets. It all started with Terra LUNA's fall and following the market crash. Then the US high inflation led to continuous interest rates hike. Even the UK raised interest rates due to inflation.
These issues caused downtrends in Cronos price forecast and the entire cryptocurrency market. Unfortunately, these top countries, the UK and US, might still raise interest rates again, meaning that Cronos coin price might still dip in the coming months.
But if the inflation subsides, Cronos' simple moving average on the candlestick chart might show a golden cross
The fall of the algorithmic stablecoin Terra Luna, and the cascading effects attracted watchdogs in early 2022.
The recent crash of FTX and its native coin, FTT, have also caused a negative price movement for all the assets. The white house is also aware that the global cryptocurrency exchange platform has crashed, causing a negative trend of events.
If the calls for stricter control of the crypto sector succeed in favor of the industry, more adoption will follow, leading to positive price predictions for CRO. But if the reverse is the case, the community may see Cronos death cross on its candlestick pattern, just like in many other assets.
One popular indicator of how a crypto project might react is market sentiment. Currently, the general environment is not encouraging. Investors are not bullish about crypto investments due to the current events around FTX, a global cryptocurrency exchange.
But if the tides turn and the market settles again, the downtrend will reverse, leading to positive Cronos price prediction.
Cronos (CRO) Price Performance In The Past – Detailed CRO Price Movement
Cronos has made several price movements beginning from its launch date till now as given below.
Cronos launch price
The Cronos token started at a price below 2 cents after its launch On December 14, 2018. On December 17, the Cronos price dropped to its all-time low of $0.01149.
The Super Bowl advertisement
Following the significant downtrend in the price of Cronos, it maintained steady growth, reaching an all-time high of around $0.97 on November 24, 2021. This figure showed an increase of about 1,380.6% since its launch.
The growth of the token at the time was traced to some positive crypto market activities. The same also brought about a bullish trend in the broader crypto market.
A clear example of such market activities was the Super Bowl advertisement.
The card rewards announcement
After witnessing such a bullish price movement, Cronos began to drop dramatically over the next six months. The price change at the time was -80%, with a trading price of about $0.3370.
The price drop resulted from an announcement on May 1, 2022. According to the announcement, there would be a drastic cut in card rewards in that period. Afterward, the crypto winter set in, pushing the market down.
How Is Cronos (CRO) Doing Now? Bullish Or Bearish?
Judging from CoinMarketCap’s Cronos price data, the token has been more on a downtrend The data shows a 24-hour decline of around -1.33% and a trading price of $0.0940 at the time of writing.
It currently has more than $129.54 million in its 24 hours trading volume and a market cap of over $2.359 billion. There are more than 25.263 billion CRO tokens circulating in the market.
Cronos Price Prediction Today
Cronos yesterday's peak price was around $0.103, with a minimum price of $0.07965. It ended the day at $0.08095 with a price change of 20.97%.
Cronos’ highest price prediction before the end of today could be around $0.09728. Its expected minimum price could be $0.07965.
According to experts’ analysis, the token may have an average price of $0.08942.
Cronos Price Prediction For December
According to the prediction model, CRO price is forecasted to level up to $0.46. Below is the Cronos price forecast for December 2022.
Long-Term Cronos price prediction For 2023
Let's peek at the Cronos cryptocurrency price expectation next year from the crypto market experts.
Long-Term Cronos Price Prediction For 2023 – 2030
Based on the trading volume of this digital currency, with the help of experts, here is the long-term Cronos price forecast from 2023 to 2030
Long-Term Cronos Price Prediction By Experts
Following some price predictions by experts is important in crypto investment decisions. Check these experts’ forecasts from 2022 to 2027.
Cronos price prediction by Trading Beasts
Through popular indicators like the RSI and MACD (Moving Average Convergence/Divergence), Trading Beasts forecasts the maximum price of Cronos in 2022 to be $0.1666. Its average price will be $0.1133, and the minimum price in 2022 stands at $0.1133.
In 2023, the expected maximum Cronos price could be $0.1684, a minimum price of $0.1106, and an average price of $0.1347.
Bitnation’s CRO price prediction
Bitnation’s Cronos growth prediction shows that the coin will hit a maximum price of $0.3599 in 2024. This expert expects the minimum and average coin prices to be around $0.3031 and $0.3315, respectively.
In 2025, Cronos is expected to reach a maximum price of $0.4547, minimum price of $0.3978, and average price of $0.4262.
CRO price prediction by Digital Coin Price
Digital Coin Price expects a continuous bullish trend of the Cronos token in 2026. As per its forecast, the maximum trading price of the token will be $0.29 and a minimum price of $0.27. The anticipated average price is $0.27.
The minimum price of Cronos in 2027 could be $0.28, with a maximum price of $0.32 and an average price of $0.30.
Price Prediction By Margex
Margex technical analysts use diverse tools to help a trader make the right moves in crypto investment. Applying a technical indicator such as the SMA on CRO, we can make a Cronos coin prediction short-term and long-term.
From CRO chart today, a bearish engulfing pattern is observed in the candle pattern. Also, the 50-day and 200-day moving averages show a bearish trend in the price of CRO. The price will likely go on a brief rally, bouncing off a key support level of $0.0823.
However, the spike in price might not be enough to break key resistance levels of $0.1005 and $0.1247. The price of CRO is expected to experience a downtrend soon.
But remember that this CRO crypto forecast is speculative and can change due to the general market trend. So, research deeply and also invests wisely.
Margex is a cryptocurrency exchange for trading, staking, and investing in reliable crypto assets. Once you make deposits with your card or through other cryptocurrencies, you're set to trade, stake, or hold.
FAQ: Common Questions On Cronos Price Prediction
Many experts have shared Cronos price prediction to guide investors' decisions. You can also find more cronos forecast for 2022 and beyond.
Will CRO price reach $100?
Cronos is technically similar to BNB, but with a low market cap. So, CRO could reach $100, although its current price is below $1.0. Following CRO price prediction by experts, the token will reach $100, but it may take a while.
What will the price of Cronos be in 2025?
According to Crono price prediction, the coin price should be worth between $1.67 and $1.92 by December 2025. The estimated average price of CRO by the end of 2025 is $1.80.
What will CRO price in 2030?
Cronos price prediction shows that it will reach $5.94 by December 2030. CRO coin price will range between $6.36 and $5.52 throughout the year.
What will Cronos CRO be worth in 5 years?
CRO price prediction indicates that by 2027, Cronos will be within the range of $0.58, closing price of $0.68, and an average price of $0.63.
Is there a future for Cronos crypto?
Cronos has a future. According to experts, CRO coin can accelerate in price. Expert analysts suggest a close watch on tech sector growth prediction too.
What is the highest Cronos price can get?
Cronos (CRO) dropped 22.96% in the last seven days and currently trading at $0.087349. However, Crypto.com coin price prediction estimates an all-time high of $0.090127 by November 17, 2022.