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This Red-Hot Altcoin Could Become the Biggest Crypto Exchange Token, According to Coin Bureau

This Red-Hot Altcoin Could Become the Biggest Crypto Exchange Token, According to Coin Bureau
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The host of the Coin Bureau YouTube channel predicts that the original coin of the digital asset market could become the largest cryptocurrency exchange.

In a new video, an analyst known as Guy tells his 1.65 million subscribers that Crypto.com’s brand recognition is already giving its currency, CRO, an edge over other exchange tokens as the company aggressively promotes its platform.

Earlier this month, the Singapore-based company made $700 million Deal to rename Staples Center, home of the Los Angeles Lakers and Los Angeles Clippers, to the Crypto.com Arena.

Jay also talks about the fundamentals of the CRO, which he says could push the value of the coin up to $1, which represents a potential increase of more than 44% from its current price of $0.69.

“The CRO also has a lot of demand drivers due to its usefulness in the Crypto.com ecosystem. Now that the CRO belongs to the blockchain with smart contract functionality, this extra dimension of demand may be enough to move the CRO into the dollar before the current crypto bull market ends.”

The coin desk host also mentions the numerous CRO use cases within the Crypto.com ecosystem.

Crypto.com offers a range of crypto-related products and services, including trading, lending, borrowing, staking, DeFi (decentralized finance), wallets and payments, while its most popular product is probably crypto-mineral Visa debit cards.

Almost all components of Crypto.com include a CRO. To give some examples, CRO has to purchase the above mentioned Visa debit cards. They can be wagered for additional payout, and they also offer trading discounts on the Crypto.com exchange.”

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 CRO tokens are locked into a smart contract and will be burned monthly when opened. “

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

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