Crypto.com Coin (CCC:CRO-USD) has been in a downtrend since mid-November, along with the broader crypto market.

CRO is currently changing hands around 47 cents, shy from an all-time high of 96.5 cents hit on Nov. 24. The current price implies a decline of almost 20% year-to-date (YTD).

Unlike many other popular cryptocurrencies, CRO was quiet until October 2021. Then in a matter of weeks, the altcoin rallied over 700%. But the positive momentum did not last long as long as crypto enthusiasts would have liked.

Yet, despite the recent slump, Crypto.com Coin returned around 490% in the last 12 months. Now, it is among the top twenty largest cryptocurrencies, currently ranking number 16 with a market capitalization (cap) of $11.5 billion.

As the new year moves forward, Wall Street has been debating the future of digital assets.

Many analysts suggest large-cap cryptos like Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD) could continue to see new highs.

Yet, according to Arcane Research, “Most meme coins will fade into obscurity, being a historical relic of the absurd times that was 2021.”

Meanwhile, CEO of Crypto.com Coin, Kris Marszalek, is confident about the long-term outlook for digital assets.

“In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” he said in November, following the rebranding of Staples Center in Los Angeles as Crypto.com Arena.

With that in mind, let’s take a look at what’s in store for Crypto.com Coin in 2022.

The Crypto.com Coin Ecosystem Is Growing

Created in 2016 as Monaco Technologies, the Singapore-based marketplace Crypto.com enables investors buy, sell and exchange digital assets.

The platform is currently among the top five among the top cryptocurrency spot exchanges by volume. It also offers a crypto wallet, a Crypto.com Visa (NYSE:V) card, and a non-fungible token (NFT) marketplace.

CRO, the ERC20 token on the Crypto.com platform, was launched in 2018. Similar to Binance Coin (CCC:BNB-USD), Crypto.com offers up to 14.5% staking rewards and 8% spending ones in CRO-USD through its payments app and credit cards.

Users can also use the crypto to get discounts on their transaction fees, which is, typically, up to 0.40%.

In February 2021, after the relaunch of the coin on their native open-source and permissionless Crypto.com Chain, management pledged to burn 70% of the CRO supply. As such, CRO has become a deflationary asset.

Crypto.com features over 250 cryptocurrencies, including leading names such as Bitcoin, Ethereum, and Cardano (CCC:ADA-USD).

It also supports over 20 fiat currencies like the US dollar, euro, and pound sterling.

Meanwhile, in early November, the Crypto.com coin ecosystem saw the launch Cronos Mainnet Beta, the Ethereum Virtual Machine (EVM) compatible chain for decentralized finance (DeFi) applications, NFTs and the metaverse.

Marketing Steps by CRO

In an effort to increase awareness and adoption, Crypto.com Coin is focusing on numerous projects that include top sporting events and blockbuster ad campaigns.

In addition to its partnerships with Formula 1—owned by Liberty Media (NASDAQ:FWONK), Italy’s Serie A, and the NHL’s Montreal Canadiens, the blockchain company has signed a multi-year sponsorship contract with French soccer powerhouse Paris-St. Germaine.

It has also recruited actor Matt Damon to feature in a global television and billboard campaign.

As I have already noted, the crypto platform has recently closed a 20-year deal worth $700 million with the Anschutz Entertainment Group (AEG) to rename the former Staples Center in Los Angeles as Crypto.com Arena.

The high-profile marketing strategy continues with an ad for theSuper Bowl in February. The crypto exchange has allegedly paid $6.5 million for a 30-second spot to NBC, owned by Comcast (NASDAQ:CMCSA).

In early December, management also announced a proposed acquisition of the North American Derivatives Exchange (Nadex), and the Small Exchange.

This deal will enable the platform to provide certain derivatives and futures products to its U.S.-based customers. The transaction is expected to be completed within the first half of this year.

However, it is not necessarily all sunshine and roses. The U.K.’s advertising regulator has recently banned two Crypto.com ads for misleading consumers. And, it might just be a beginning of a crackdown on cryptocurrency and NFT ads in the U.K. 

The Bottom Line on Crypto.com Coin

In 2022, Crypto.com Coin is one of the digital assets that deserve your interest. However, it is poised to remain speculative in the short term, especially as market choppiness in the cryptosphere is likely to continue.

Meanwhile, the Fed’s hawkish words and potential moves are pushing investors to adopt a “risk-off” approach, especially when it comes to digital assets.

Therefore, it could be sometime before the price of CRO Crypto stabilizes, and a new leg up begins.

Yet, interested readers whose portfolios can handle volatility might consider allocating a small amount of capital to Crypto.com coin. Those with a two- to three-year horizon could see their investment increase handsomely.

InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

 Read More: How to Avoid Popular Cryptocurrency Scams

On the date of publication, Tezcan Gecgil 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.

Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation.