According To Coin Bureau One Crypto Exchange Token Looks Very Strong

According to Coin Bureau one native token of a digital asset marketplace could become the biggest crypto exchange token.

In a recent video session, crypto analyst and the host of the show, Guy, shared with the YouTube channel’s 1.65 million subscribers that Crypto.com’s brand recognition is already giving its coin, CRO, an advantage over other exchange tokens as the exchange is heavily promoting its platform.

Singapore-based Crypto.com’s recently closed a $700 million deal to rename the Staples Center, the home of the Los Angeles Lakers and Los Angeles Clippers, to Crypto.com Arena.

Regarding the fundamentals of CRO, Guy believes they could push the value of the coin to $1. At the time of writing CRO trades at $0.743, and the move would represent nearly 35% uptick.

“CRO also has a lot of demand drivers due to its utility in the Crypto.com ecosystem. Now that CRO belongs to a blockchain with smart contract functionality, this additional dimension of demand might be enough to take CRO to a dollar before the current crypto bull market is over.”

Guy also talks about CRO’s various use cases within the Crypto.com ecosystem.

“Crypto.com offers a suite of crypto-related products and services, including trading, lending, borrowing, staking, DeFi (decentralized finance), wallets and payments, while its most famous product is probably its metal crypto Visa debit cards.
Almost all of Crypto.com’s components involve CRO. To give a few examples, CRO is required to purchase those aforementioned Visa debit cards. It can be staked for additional yield, and it also offers trading discounts on the Crypto.com exchange.”

The exchange also announced earlier this year that it will burn 70 billion CRO tokens, of which about 60 billion CRO coins have already been destroyed, says Guy.