Is this the end of the parabolic move on CROUSDT?Crypto.com coin strikes again. It has now become the 13th-largest cryptocurrency, according to Coingeko. In 2018, CRO was launched as the product of the Crypto.com company. Just like Binance coin (BNB), Crypto.com customers can use CRO to get discounted trading prices and qualify for better rewards. Crypto.com chain is also supposed to offer fast payment processing, to make it easier on the customers who pay with cryptocurrency and easier on the merchants who gets paid for their services using cryptocurrency. Also Crypto.com chain will support the expansion of the Crypto.com's line of MCO visa payment cards. With all these services and goals that Crypto.com is trying to achieve, I believe that everyone should keep an eye on their products. Recently, the cryptocurrency trading platform announced that it had paid $700 million to the Anschutz Entertainment Group to rename Staples center to Crypto.com for the next 20 years. This news has triggered a majestic parabolic move. Parabolic movements are usually caused by F.O.M.O, which is why when the selling pressure begins to happen, the dominos effect takes place, which results in a strong downward movement. For now I have decided to stay away from the coin and wait for more price action to develop. Although we are approaching a strong resistance, se we might see a downward movement very soon.
