Although CRO is one of the most prominent crypto companies in terms of marketing strategies, it is not immune to the general trend in the broader market. Looking at the charts, the price is going down day by day. Despite recent groundbreaking efforts, CRO has failed to sustainably rise.
CRO and the wrong direction
In recent days, Crypto.com and its partners have launched attractive campaigns to attract more investment sources to the network.
The renaming of Crypto.org Coin to Cronos and the continued staking of Supercharger rewards and the UFC ticket giveaway are steps towards that goal.
But the core issue here is that the on-chain stats don’t say if the assets are bringing huge profits to the project right now, as investors aren’t in the best shape right now.
The situation of online losses is getting more serious as more than 36% of investors are “running out of money”.
Crypto.com investors lose money | Source: Intotheblock
However, not only small investors have to bear the brunt. Recent whale trading volume is also very low. Whale sales have averaged between $10 million and $20 million, and have never surpassed $100 million except once this year.
Trade whale on Crypto.com | Source: Intotheblock
Also, the downtrend following the November rally has reduced the average balance of all addresses to $211,000. In February 2021 he returned to the same level.
On the other hand, investors are still joining the network. However, these new investors are primarily influenced by FOMO when looking to buy dips. Additionally, the overall supply of CROs on the exchanges did not decrease significantly.
With the number of new addresses increasing by 500 per day, these investors are mostly HODL. Out of a total of 216,000 addresses holding funds, it averages just 1.4,000 on-chain transactions.
Address works on Crypto.com | Source: Intotheblock
This is also reflected in the increase in the number of long-term holders (LTH) and medium-term holders (MTH). Interestingly, the number of short-term traders has also fallen dramatically since December. Simply put, people who use HODL are trying to get out of prevailing market conditions.
Crypto.com Investor Distribution | Source: Intotheblock
Unfortunately, both Crypto.com and investor efforts are slowly succumbing to broader market signals.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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Analysis
Can CRO increase price next month?
Although CRO is one of the most prominent crypto companies in terms of marketing strategies, it is not immune to the general trend in the broader market. Looking at the charts, the price is going down day by day. Despite recent groundbreaking efforts, CRO has failed to sustainably rise.
CRO and the wrong direction
In recent days, Crypto.com and its partners have launched attractive campaigns to attract more investment sources to the network.
The renaming of Crypto.org Coin to Cronos and the continued staking of Supercharger rewards and the UFC ticket giveaway are steps towards that goal.
But the core issue here is that the on-chain stats don’t say if the assets are bringing huge profits to the project right now, as investors aren’t in the best shape right now.
The situation of online losses is getting more serious as more than 36% of investors are “running out of money”.
Crypto.com investors lose money | Source: Intotheblock
However, not only small investors have to bear the brunt. Recent whale trading volume is also very low. Whale sales have averaged between $10 million and $20 million, and have never surpassed $100 million except once this year.
Trade whale on Crypto.com | Source: Intotheblock
Also, the downtrend following the November rally has reduced the average balance of all addresses to $211,000. In February 2021 he returned to the same level.
On the other hand, investors are still joining the network. However, these new investors are primarily influenced by FOMO when looking to buy dips. Additionally, the overall supply of CROs on the exchanges did not decrease significantly.
With the number of new addresses increasing by 500 per day, these investors are mostly HODL. Out of a total of 216,000 addresses holding funds, it averages just 1.4,000 on-chain transactions.
Address works on Crypto.com | Source: Intotheblock
This is also reflected in the increase in the number of long-term holders (LTH) and medium-term holders (MTH). Interestingly, the number of short-term traders has also fallen dramatically since December. Simply put, people who use HODL are trying to get out of prevailing market conditions.
Crypto.com Investor Distribution | Source: Intotheblock
Unfortunately, both Crypto.com and investor efforts are slowly succumbing to broader market signals.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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