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The Crypto.com (CRO/USD) price has been in a remarkable rally in the past few months. The coin is trading at $0.7734, which is close to its all-time high. Its total market capitalization has jumped to more than $19 billion and it is close to becoming a top-10 cryptocurrency. This has happened as other cryptocurrencies like Bitcoin and Ethereum retreat.
CRO growth
Crypto.com has transitioned itself from a small company to one of the biggest players in the industry. The company, which is headquartered in Singapore, offers all types of services in the industry.
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For example, it offers an exchange where people can buy and sell cryptocurrencies. It also offers a visa card, a Non-Fungible Token (NFT) marketplace, and other cryptocurrency services.
The company’s growth has been remarkable considering that the website was once a blog. According to media sources, the current owners of the platform bought the blog for almost $20 million a few years ago. Today, it handles more than a billion dollars every day and serves more than 10 million customers.
The Crypto.com Coin has jumped recently because of the marketing progress that the developers have made. For example, it has become one of the leading sponsors of Formula 1 and UFC. It is also spending $100 million on an ad campaign that features people like Ronda Rousey and Matt Damon.
This month, it announced one of the biggest news in the industry. It will spend about $700 million for the naming rights of Staples Center, home for The Lakers.
As such, the CRO price has jumped since analysts believe that this spending will attract users to Crypto.com. Also, they hope that the deal will bring more developers to start building on the Crypto.org Chain.
Crypto.com Coin price analysis
The four-hour chart shows that the CRO price has been in a remarkable rally in the past few weeks. Indeed, it has jumped by more than 400% from its lowest level in September this year.
Subsequently, the coin has moved above the ascending trendline shown in red. It has also jumped above the 25-day and 50-day moving averages. The coin has also been forming higher highs in the past few weeks.
Therefore, the Crypto.com Coin price will likely maintain a bullish trend in the coming days. However, in the long-term, I suspect that it will stage a major pullback as the momentum fades.
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