pasted image 0The bear market of 2022 was challenging for many top crypto coins, and Cronos was no exception. The coin’s value fluctuated significantly, which made many investors anxious and skeptical about its future. Nevertheless, there are reasons to believe that the tide may turn for the coin.
First, the overall cryptocurrency market is experiencing an upward trend, and Cronos is no exception. Second, Crypto.com is expanding its services and partnerships, which could drive demand for its native CRO tokens.
Let’s discuss the price outlook for Cronos in 2023: Is it still a worthy investment, or should you start searching for the best new icos as an alternative?
What is Cronos (CRO)?
Cronos (CRO) is the cryptocurrency token of Crypto.com’s decentralized, open-source blockchain, Cronos Chain that makes payments, trades, and other financial transactions possible on the exchange.
Cronos Chain is part of Crypto.com’s suite of products meant to increase the worldwide adoption of cryptocurrencies so that people may have more say over their finances, data, and identities. The CRO blockchain’s primary function is to facilitate the operation of the Crypto.com Pay mobile payment platform.
The Crypto.com Chain allows CRO holders to stake their currencies to validate transactions and collect transaction fees. Moreover, transaction fees on the Cronos Chain can be paid with CRO tokens.
Those who use CRO to make purchases using the Crypto.com Pay app can earn up to 20% cashback, while those who use CRO to make P2P and gift card purchases can earn up to 10% cashback.
Cronos Price Prediction for 2023
Cronos has had an eventful price journey, with prices fluctuating over the years. Although the first largest market surge in April 2021 did not significantly impact CRO, the coin achieved an all-time high in November 2021 at $0.85, with a price eventually dropping to $0.06 as of January 1, 2022.
CRO continued a downtrend since then, with resistance and support levels at $0.50 and $0.10. Despite this, analysts predict moderate growth for the Cronos coin price, with a projected range of $0.10899 to $0.13321 by the end of 2023.
Currently, Cronos is traded at $0.069, and if the expectations are accurate, we might witness the current price surge by approximately a minimum of 60%. This would give the inventors an appealing boost and well-deserved portfolio recovery after a long and devastating bear market.
New DeFi projects on the rise: Should you invest in DigiToads?
The general bullish signs in the cryptocurrency market mainly drive the positive shift. For instance, Bitcoin, the market king, has shown an uptrend, with the price reaching the $28,000 mark. Additionally, Ethereum, the second-largest crypto by market cap, has announced its major Shanghai upgrade, which will also positively impact the overall market.
Notably, in sight of general market recovery, investors are starting to consider newly appeared crypto gems. These new ICOs usually have a bigger room for growth and are getting massive hype from the communities.
For instance, DigiToads, a brand-new ERC20 token with play-to-earn characteristics, have significantly attracted the global market. The project promises generous in-game rewards, NFT staking, and massive giveaways throughout the presale. Importantly, the presale of the TOADS token is divided into ten stages, each culminating with a price surge. Ultimately, this results in a 450% guaranteed return on early backers’ investments, offering a lucrative way to earn quick cash.
The bottom line
Cronos plays a crucial role in the crypto.com ecosystem, and its adoption is anticipated to grow with the popularity of the exchange itself. Q2 is off to a strong start, and this will be reflected favorably in the price of CRO.
An ROI of 60% is possible for investors if the CRO forecast is accurate. Although this is significantly lower than DigiToads’ projected 450% growth, it will substantially push investors to recoup their losses and start gaining interest on their deposits.
For More Information on DigiToads visit the website, join the presale or join the community
