Crypto.com CEO Kris Marszalek predicts higher institutional investment in crypto
- Marszalek believes institutional investors could continue pouring capital in crypto.
- The recent Crypto.com security incident failed to impact the outlook for the token's price negatively.
- Analysts have predicted a comeback above $0.5 for Crypto.com's native token.
Crypto.com CEO believes that institutional investment in crypto could continue rising in 2022. Analysts have noted that the native token of the Crypto.com exchange did not get negatively impacted after the recent security incident.
Crypto.com CEO expects higher inflow of smart money in crypto
Kris Marszalek, the CEO of Crypto.com, believes that in 2021, tens of billions of dollars will go into cryptocurrencies. Institutional investors have poured capital in DeFi, NFTs and metaverse projects over the past year.
Marszalek believes that the entire cryptocurrency industry is on a breakout trajectory. The Crypto.com CEO considers that institutional investors are waiting for an opportunity to accumulate cryptocurrencies in 2022.
Crypto.com exchange recently suffered a security incident where 400 users were affected. The exchange reimbursed impacted users and published a detailed investigation report. Analysts have noted that there was no negative impact on the exchange's native token Crypto.com price.
@krypto_scalper, a pseudonymous cryptocurrency analyst and trader, evaluated the Crypto.com price trend. The analyst predicted that the exchange's native token could make a comeback above $0.5. Crypto.com has posted 16.9% losses over the past week; however, analysts have predicted a recovery in the altcoin's price.
$CRO .. watch closely .. pic.twitter.com/pE95OaJ1Gw
— crypto_scalper (@krypto_scalper) January 24, 2022
@CanteringClark, a crypto analyst, believes that despite the security incident, there was no impact on the native token's price, which is a sign of the market's immaturity.
No response in Crypto.com's price trend could imply that the cryptocurrency market is inefficient.
Most tokens are vapor, but you can imagine that token price is something that would reflect beliefs, whether they are technically or fundamentally based.$CRO hack leading to also almost no response is an example of how backwards and inefficient this market is. pic.twitter.com/nIcPDB5QNj
— Cantering Clark (@CanteringClark) January 18, 2022
FXStreet analysts believe that Crypto.com upside is limited to $0.54 as it faces multiple hurdles.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
