CRO Price Prediction for 2030
Cronos (CRO) is one of the most prominent cryptocurrencies on the market today. CRO is the utility token of Crypto.com, a leading cryptocurrency platform trusted by more than 80 million users globally. Is it possible for the CRO token to reach double digits by 2030? Can the cryptocurrency finally breach the $1 barrier in 2023? Our CRO price prediction 2030 follows, and much more!
CRO price prediction 2030, historical data, and important basics
Crypto.com Coin was rebranded to Cronos in early February 2022. The move was made shortly after Binance rebranded its blockchain ecosystem, Binance Smart Chain (BSC), to BNB Chain, where BNB stands for Build and Build. Furthermore, Binance Coin, the blockchain network’s native token, was renamed BNB.
This move did not immediately impact the price of the cryptocurrency, as CRO lost 3% of its value in the next 24 hours! Much like the rest of the industry in 2022, CRO endured a tough year, with the price of the crypto asset plummeting from over $0.48 on 5 April, 2022, to just over $0.05 on 31 December.
Currently, CRO is trading at around $0.07. According to Coingecko data, the digital asset has a market cap of nearly $1.83B, making it the 36th most popular cryptocurrency on the market today. The cryptocurrency has a circulating supply of over 25 billion and a total supply of more than 30 billion.
Source: Coingecko (Cronos)
The crypto asset's price reached an all-time high of $0.96 on 24 November, 2021 (oh, the good old times!) and an all-time low of $0.01 on 8 February, 2019. If we analyse these numbers practically, it is clear that it is near impossible (or rather difficult) for CRO to reach double digits anytime soon.
With a potential supply of 30 billion on the market, if the cryptocurrency were worth $10, it would indicate that its market cap is $300B. That is an astronomical 164 times more than the cryptocurrency's current market cap, and nearly 1.5 times more than Ethereum's (ETH) present market cap!
Considering the digital asset's many utilities, which we will dive into shortly, according to our CRO price prediction 2030, it is possible for the cryptocurrency to achieve a $75-100B market cap.
This is taking into consideration market research which indicates that the crypto industry is growing at a CAGR of 7.1%, and many other factors, some of which you will understand shortly.
Therefore, the CRO price may reach $3+ by 2030. Of course, you MUST DYOR at all times. Our predictions at Moni Talks are not definitive. There are several factors that may impact the price of CRO in the short and long term.
This brings us to an important topic of discussion. Cronos is more than just the utility token of the Crypto.com platform. Cronos is a full-fledged blockchain network powered by Ethermint.
Ethermint allows for the prompt porting of smart contracts and decentralised applications (DApps) from Ethereum and EVM-compatible blockchains. As such, the CRO token is the blockchain network's base settlement currency and the native asset of Cronos' parallel ecosystem, the Crypto.org Chain.
According to DeFiLlama statistics, Cronos has a TVL of nearly $375M, with VVS Finance domination of over 50%. Some of the top dApps on the blockchain network include VVS Finance (of course), Tectonic, Ferro, MM Finance, Single Finance, Veno Finance, and Beefy.
Before exploring the cryptocurrency's utilities, let us dive further into the Cronos blockchain network.
What is the Cronos blockchain network?
Built with the Inter-Blockchain Communication Protocol from day one, the Cronos blockchain facilitates bridging and interoperability to the Crypto.org Chain - an energy-efficient, open-source, and fully-decentralised, public blockchain with low fees and rapid speed.
The network also allows for interoperability with other IBC chains, such as Cosmos (ATOM), in a decentralised manner. Given the current theme of BUIDLing interoperable applications in decentralised finance (DeFi) and the quest to find solutions to connect existing architecture, Cronos serves an important purpose.
The ecosystem is the first to interoperate with Ethereum and Cosmos, supporting the metaverse, NFTs, and DeFi.
Its primary goal is to scale the Web3 user community by equipping builders with the ability to immediately port cryptocurrencies and DApps from other blockchains with fast finality, high throughput, and low cost.
Here is the true Cronos value proposition:
Fast finality of 5-6 seconds (or the same as the block time), high throughput supporting 50M+ transactions daily, and a low cost per transaction of >$1 indicates that the EVM is built for interoperability, as it claims.
As mentioned before, Cosmos is powered by Ethermint. Cosmos is highly scalable, greener, cheaper, and faster to execute smart contracts than most public blockchains. Compared to Proof of Work (PoW) blockchains, Cronos is 90% more energy efficient.
Cronos can ‘talk’ to other IBC chains. This means easy asset and service interchange and value transfer is possible without the scalability issues that affect many public blockchains today.
Easy deployment of DApps on the blockchain is possible with familiar tools.
Ready access to a suite of Crypto.com products that serve more than 80M consumers worldwide.
It should be noted that since Cronos is built on the Cosmos SDK, it can enjoy the benefits of both the Ethereum and Cosmos ecosystems. Let us now explore the relationship between Cronos, Crypto.org Chain, and Crypto.com.
Using the Cronos Decentralised Bridge, users can easily transfer the CRO asset from Cronos to Crypto.org Chain and vice versa. With time, a greater number of assets will be transferable. While Cronos is EVM-compatible, Crypto.org Chain targets Rust and Go developers with its CosmWasm smart contract framework.
While Cronos, Crypto.org Chain, and Crypto.com are independent entities, Crypto.com actively supports the Cronos network through its resources. Crypto.com's suite of products, including the DeFi Wallet, Exchange, and App, supports Cronos at the time of writing, with asset bridging available to and fro.
As mentioned before, in the grand scheme of things, each of the three entities shares a common link in the form of the CRO token. CRO is the native token of Crypto.org Chain, the base settlement currency of Cronos, and serves many utilities on the Crypto.com platform. Let us explore these utilities.
What are the utilities of CRO on the Crypto.com platform?
There are several benefits of locking up CRO on the Crypto.com exchange and app. For starters, as you may have guessed already, if you lock up CRO on the exchange and pay with the cryptocurrency, you can enjoy discounted trading fees.
The cryptocurrency is currently available for purchase on 23 exchanges, including Crypto.com (quite naturally), KuCoin, Gate.io, Bittrex, and Huobi Global. Several crypto wallets support the digital asset, such as Ledger, Trezor, Atomic Wallet, MyEtherWallet, Trust Wallet, and MetaMask.
Let us explore the benefits of locking up CRO on the exchange:
You will receive a CRO rebate when you pay trading fees with the crypto asset. Visit this page for detailed insights into the Maker Discount Rate and Taker Rate for various amounts of the cryptocurrency locked up on the Exchange.
For a minimum of 50,000 CRO locked up, you will receive a daily interest APR of 4%, which goes up to 8% for a minimum of 500,000 of the cryptocurrency locked up.
You will receive access to The Syndicate if you lock up a minimum of 5,000 CRO.
For every friend you refer to the exchange, you can receive up to $2,000 in CRO and a whopping 50% of their trading fees. Terms and conditions apply for the same.
Here are the benefits of locking up the cryptocurrency on the app:
You can reserve a premium metal Crypto.com crypto card in multiple colours and tiers. These cards come with many benefits, such as 5% cash back on each transaction, numerous CRO staking rewards depending on your tier, and exclusive private benefits and rewards for certain tiers that have staked CRO.
With the Crypto.com Visa card, enjoy purchase rebates on Amazon Prime, Airbnb, Expedia, Spotify, and Netflix purchases. Rebates are dependent on your card tier, and you are only eligible for this reward scheme if you have a locked CRO.
By sending CRO to friends, mobile airtime, or purchasing gift cards, all via the app, you can receive cashback in CRO, termed as Pay Rewards. You are also eligible for Pay Rewards if you use the Pay Checkout facility via the app and use CRO as the currency for payment.
To learn more about the amount of CRO you must lock to enjoy certain benefits, details about card tiers, and any other questions you may have, visit the website.
Author: Surajdeep Singh
Surajdeep Singh has been working in the tech sphere as a marketing guru and journalist for over 6 years, with his speciality laying in blockchain and Web3. He has donned several hats in marketing and journalism over the years and worked with many reputable brands. Feel free to reach out to him on LinkedIn!