As can be expected with the monumental growth cryptocurrency is experiencing right now, exchanges are coming more into the mainstream. More and more people are curious about the world of digital currency, especially as they learn of the massive gains people are scoring through arbitrage or the impressive percentage yields they are earning through DeFi applications. Exchanges are the first step in getting into crypto, and so the competition is fierce to grab as much of the new investor market share as possible. One of the leaders of the pack is Crypto.com (CCC:CRO-USD). The company is finding new ways every week to bulk up its product. An acquisition today is helping the exchange, while also boosting interest in Crypto.com coin price predictions.
Even the newest of crypto investors must have heard of Crypto.com. Recently, the exchange has been making big pushes in the U.S. market to boost its notoriety. It launched a primetime television commercial with its new celebrity spokesman, Matt Damon.
Perhaps even more notable was its big naming rights acquisition; in mid-November, the exchange announced it had secured the naming rights to the legendary Staples Center. The sports arena in Los Angeles plays host to professional sports teams across the mens’ and womens’ National Basketball Association, as well as the National Hockey League. The $700 million deal rebrands the facility as Crypto.com Arena for the next 20 years, and the announcement sent Crypto.com’s CRO coin surging to huge new all-time highs.
Crypto.com Coin Price Predictions Heat Up With New Acquisition
This morning, the crypto exchange is keeping things rolling with yet another acquisition — this one slightly more orthodox than the naming rights deal. The exchange is lifting CRO values once again and spurring increasing interest in Crypto.com coin price predictions.
Today’s big news out of the platform is its acquisition of Nadex. Nadex is a Chicago-based options trading platform that deals mostly in trading forex and stock index options. The acquisition comes alongside yet another acquisition of the Small Exchange, an exchange that deals in trading futures. Crypto.com is purchasing the pair of companies for a total of about $216 million from the London-based IG Group.
The acquisition of these companies demonstrates how Crypto.com wants to transcend its namesake offerings. Of course, as a newer method of income building, crypto exchanges are constantly looking for ways to attract users who might not quite get the industry. By adding derivatives products, the exchange is making itself more accessible to stock investors who might already use, or at least are familiar with, these products.
Crypto.com’s CRO coin is up 6% on this news, with a slight boost in trading volume as well. Can CRO leverage this acquisition for long-term gains? Let’s take a look at some Crypto.com coin price predictions and see what analysts are thinking:
- DigitalCoin expects CRO to surge past the $1 mark before the end of the month. The site targets a year-end value of $1.15 for the coin.
- WalletInvestor is much less bullish on CRO. The site’s 12-month prediction prices CRO in at just over 90 cents by December of 2022.
- Gov Capital’s December 2022 prediction is similar. However, it expects CRO to just pass the $1 mark by then, reaching a value of $1.04.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.