Crypto.com’s Cronos Price Recovers From Slump As Daily Transaction Count Rises

  • The daily number of large Crypto.com Cronos transactions increased with a spike in on-chain activity.
  • Campus passes for the Crypto.com-sponsored F1 Miami Grand Prix went on sale today, fueling a bullish narrative among investors.
  • Analysts revealed a bullish outlook on Crypto.com’s CRO price and set a new target at $0.58.

Crypto.com’s Cronos price may recover as the number of daily transactions and on-chain activity on the network increase. Analysts have predicted a trend reversal in the Crypto.com token, driven by an increasing number of high-volume trades.

Crypto.com could make a comeback with an increase in high-volume transactions

Recent Crypto.com partnerships and sponsorships have increased its token’s relevance to investors. Crypto.com powers the Miami F1 Grand Prix, and the event kicked off the launch of its campus passes today.

Proponents believe the sale of campus passes has fueled a bullish narrative among investors. There is an increase in the number of large transactions on the Crypto.com network; the daily count has increased to 12. This is seen as key to the adoption of Cronos by large portfolio investors.

The growing number of high-volume transactions has contributed to an increase in on-chain activity in the Cronos network.

Analysts have assessed the Crypto.com CRO price trend and predicted a bullish outlook. A CRO trend reversal could erase the losses suffered by holders since the last week of March 2022.

Gert van Lagen, a crypto analyst, thinks the price of Cronos reveals a bullish market structure. The analyst notes that the price of CRO experienced a flat correction, followed by a higher high and a strong correction. The analyst’s targets for the CRO price are $1.61 and $2 in the current rally.