{"id":1556,"date":"2022-11-15T09:23:37","date_gmt":"2022-11-15T09:23:37","guid":{"rendered":"https:\/\/digitalcoinprice.com\/blog\/?p=1556"},"modified":"2023-04-03T12:02:48","modified_gmt":"2023-04-03T12:02:48","slug":"crypto-com-is-trouble-may-price-recovery","status":"publish","type":"post","link":"https:\/\/digitalcoinprice.com\/blog\/crypto-com-is-trouble-may-price-recovery","title":{"rendered":"The CRO of Crypto.com is in Trouble, but There May Be a 50% Price Recovery"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #223c50;color:#223c50\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #223c50;color:#223c50\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/digitalcoinprice.com\/blog\/crypto-com-is-trouble-may-price-recovery\/#The_Funding_Rate_of_CRO_Drops_by_-3_Overall\" title=\"The Funding Rate of CRO Drops by -3% Overall\">The Funding Rate of CRO Drops by -3% Overall<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/digitalcoinprice.com\/blog\/crypto-com-is-trouble-may-price-recovery\/#FTX_Contagion_Fears_Hit_Cryptocom\" title=\"FTX Contagion Fears Hit Crypto.com\">FTX Contagion Fears Hit Crypto.com<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/digitalcoinprice.com\/blog\/crypto-com-is-trouble-may-price-recovery\/#Could_There_Be_a_50_Rally_in_Cronos_Prices\" title=\"Could There Be a 50% Rally in Cronos Prices?\">Could There Be a 50% Rally in Cronos Prices?<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">The CRO futures market was highly bearish on Nov. 14, with short traders paying a premium of as much as 3% to long traders.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After last week&#8217;s dramatic <\/span><a href=\"https:\/\/digitalcoinprice.com\/blog\/ftx-tokens-to-be-liquidated-by-binance\"><span style=\"font-weight: 400;\">collapse of the FTX<\/span><\/a><span style=\"font-weight: 400;\">, Crypto.com&#8217;s native token Cronos resisted mounting sell-pressure on Nov. 14. A watershed price recovery is now being predicted for CRO\/USD.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the days after CRO&#8217;s price had fallen to $0.05, its lowest level since April 2020 &#8211; a 60% price decline from November&#8217;s peak of $0.178 &#8211; the stock fluctuated between profits and losses.\u00a0<\/span><\/p>\n<figure id=\"attachment_1557\" aria-describedby=\"caption-attachment-1557\" style=\"width: 2708px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1557 size-full\" src=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_18_836Z.png\" alt=\"Crypto.com\" width=\"2708\" height=\"1340\" srcset=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_18_836Z.png 2708w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_18_836Z-300x148.png 300w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_18_836Z-1024x507.png 1024w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_18_836Z-768x380.png 768w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_18_836Z-1536x760.png 1536w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_18_836Z-2048x1013.png 2048w\" sizes=\"auto, (max-width: 2708px) 100vw, 2708px\" \/><figcaption id=\"caption-attachment-1557\" class=\"wp-caption-text\"><strong>Tradingview<\/strong><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"The_Funding_Rate_of_CRO_Drops_by_-3_Overall\"><\/span>The Funding Rate of CRO Drops by -3% Overall<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The era of CRO&#8217;s price decline appeared alongside an intense drop in the token&#8217;s perpetual futures allotment rates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Market makers use funding rates to pay for the difference between the spot and the futures price difference. The positive funding rate indicates that bullish traders (long positions) are paying bearish traders (short positions), meaning they are confident in the market&#8217;s recovery.\u00a0<\/span><\/p>\n<p><b>Related<\/b><span style=\"font-weight: 400;\">: <\/span><a href=\"https:\/\/digitalcoinprice.com\/blog\/ftx-alameda-accounts-frozen-by-kraken\"><b>FTX and Alameda accounts frozen by crypto exchange Kraken<\/b><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Negative funding rates, however, allow short traders to maintain open positions by paying long traders. Traders are highly bearish on CRO, as its funding rates dropped to minus 3% on November 14.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"FTX_Contagion_Fears_Hit_Cryptocom\"><\/span>FTX Contagion Fears Hit Crypto.com<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Following the FTX fiasco, CRO shares declined due to concerns about contagion, especially about Crypto.com.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to analysts, Crypto.com&#8217;s token CRO makes up 40% of the exchange&#8217;s total assets and is held as reserves, making it a likely candidate for insolvency.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">4.<a href=\"https:\/\/t.co\/INIxikfNzy\" target=\"_blank\">https:\/\/t.co\/INIxikfNzy<\/a> holds $1.6B worth of BTC\/ETH\/USDT\/USDC\/DAI\/BUSD assets, accounting for 60%.<\/p>\n<p>40% of assets are low liquidity assets.<\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1591753733188337666?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">November 13, 2022<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Before demonstrating its reserves to the public, Crypto.com also moved $210 million in stablecoins from Binance and Circle. Earlier on April 21, CRO dropped to a new low, according to Binance CEO Changpeng Zhao.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">If an exchange have to move large amounts of crypto before or after they demonstrate their wallet addresses, it is a clear sign of problems. Stay away. Stay <a href=\"https:\/\/twitter.com\/hashtag\/SAFU?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#SAFU<\/a>. \ud83d\ude4f<\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1591690261029130240?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">November 13, 2022<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">A $400 million Ether ETH was also fraudulently acquired by Crypto.com<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gate.io exchange wallet, rather than its cold storage, was used for the transaction, which involved $1,250. After recovering the funds, the exchange faced many questions.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Crypto_com CEO is claiming they \u201caccidentally\u201d sent $400 million of their eth to the wrong wallet.<\/p>\n<p>He\u2019s either lying, or incompetent. <a href=\"https:\/\/t.co\/hWXvPqBime\" target=\"_blank\">https:\/\/t.co\/hWXvPqBime<\/a><\/p>\n<p>\u2014 Coffeezilla (@coffeebreak_YT) <a href=\"https:\/\/twitter.com\/coffeebreak_YT\/status\/1591628969887268866?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">November 13, 2022<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Argus Inc. tracked 14 million withdrawals from Crypto.com over the weekend, including $39 million in ETH.\u00a0\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Could_There_Be_a_50_Rally_in_Cronos_Prices\"><\/span>Could There Be a 50% Rally in Cronos Prices?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While CRO&#8217;s price could rally in the coming weeks from a technical standpoint, its fundamentals remain weak.<\/span><\/p>\n<p><b>Also Read:<\/b> <a href=\"https:\/\/digitalcoinprice.com\/blog\/tether-has-frozen-a-48-million-usdt-asset\"><b>Tether has frozen a 48 million USDT asset on Tron Owned by FTX<\/b><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Several indicators support this bullish outlook, including CRO&#8217;s weekly relative strength index (RSI), which has fallen to nearly 30, or around &#8220;oversold&#8221; territory. The following graph shows a 75% recovery rally from $0.099 to $0.162 after a similar drop earlier this year.<\/span><\/p>\n<figure id=\"attachment_1558\" aria-describedby=\"caption-attachment-1558\" style=\"width: 2708px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1558 size-full\" src=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_25_802Z.png\" alt=\"\" width=\"2708\" height=\"1340\" srcset=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_25_802Z.png 2708w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_25_802Z-300x148.png 300w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_25_802Z-1024x507.png 1024w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_25_802Z-768x380.png 768w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_25_802Z-1536x760.png 1536w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2022\/11\/image_2022_11_15T07_36_25_802Z-2048x1013.png 2048w\" sizes=\"auto, (max-width: 2708px) 100vw, 2708px\" \/><figcaption id=\"caption-attachment-1558\" class=\"wp-caption-text\">Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Additionally, $0.061 has historically been a strong support level, which is a bullish indicator. Additionally, there is a record volume profile visible range (VPVR) for CRO at $0.061 and $0.111.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, CRO could reach $0.111, an increase of over 50% from its current price level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Contrary to Terra&#8217;s collapse in May, CRO\/USD&#8217;s drop likely occurred as funding rates fell alongside it, as was the case with <\/span><a href=\"https:\/\/cointelegraph.com\/news\/analysts-assess-the-aftermath-of-the-terra-luna-collapse-cointelegraph-interview\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">Terra&#8217;s destruction in May<\/span><\/a><span style=\"font-weight: 400;\">. Therefore, CRO&#8217;s recovery prospects may be dampened by persistent bearish sentiment in the cryptocurrency market.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The CRO futures market was highly bearish on Nov. 14, with short traders paying a premium of as much as 3% to long traders. After last week&#8217;s dramatic collapse of the FTX, Crypto.com&#8217;s native token Cronos resisted mounting sell-pressure on Nov. 14. A watershed price recovery is now being predicted for CRO\/USD. In the days [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":1559,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news-updates"],"_links":{"self":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/comments?post=1556"}],"version-history":[{"count":7,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1556\/revisions"}],"predecessor-version":[{"id":2755,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1556\/revisions\/2755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media\/1559"}],"wp:attachment":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media?parent=1556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/categories?post=1556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/tags?post=1556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}