CRO: Will it Really 20X?

Crypto.com CRO token. Is CRO a buy?
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CRO crypto

History of the CRO token:
In November 2018, Crypo.com launched an ERC20 token which had an initial supply of 100 billion tokens. All of which were initially held by crypto.com.

There was no presale, no public sale, and no ICO for this token

Then in February 2021, Crypto.com relaunched their token on their own crypto.org native blockchain.

In preparation for the launch, Crypto.com announced that it would be burning 70% of CRO’s supply accounting for almost all the company’s CRO holdings.

Out of the 70 billion coins, 59.6 billion CRO were burned right away and 10.4 billion will be burned over time as tokens are unlocked from smart contracts.

Before the burn, CRO was priced at $0.08. Now, seven months after the burn, the price is $.59.

This was the largest token burn in history by dollar value and makes the CRO token a deflationary asset.

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*I am not a financial advisor. This is not financial advice*