I'm not here to talk about Matt Damon. I'm sure he probably couldn't care less how Crypto.com is doing since he apparently got paid in cash anyway.
Let's take a look at the history of the exchange since the day of the famous commercial launch.
For reference, I'll compare it to Bitcoin. The commercial premiered exactly one year ago. Had you bought $1,000 worth of Bitcoin on that day, you would have just ~$400 now. That's a loss of 60%.
Timeline of Crypto.com from the commercial to now (the one-year anniversary).
| Date | Event | CRO Price |
|---|---|---|
| 29 October 2021 | Commercial launch | 21 c |
| 4 November 2021 | Token listed on Coinbase | 29 c |
| 11 November 2021 | Staples Centre Rebrand | 35 c |
| 24 November 2021 | CRO All Time High | 97 c |
| 1 December 2021 | Buys Nadex for $216m | 61 c |
| 7 January 2022 | Two ads banned in UK | 50 c |
| 18 January 2022 | Withdrawals paused on platform after $30 hack | 45 c |
| 9 February 2022 | Withdraws sponsorship from Champions League | 47 c |
| 23 March 2022 | FIFA World Cup sponsorship announcement | 42 c |
| 3 May 2022 | Perks and Staking Rewards slashed | 29 c |
| 29 June 2022 | Rewards and earn slashed again | 12 c |
| 12 July 2022 | Rewards slashed again | 11 c |
| 25 July 2022 | Spotify/Netflix perk removed from lower cards | 12 c |
| 21 August 2022 | Sueing user who accidentally received $10m | 11 c |
| 29 October 2022 | Current price today | 11 c |
In the past year, Crypto.com’s exchange volume has also dropped by 91%, from $4 billion to $380 million per day.
What was the investment return?
Based on the current price of roughly 11c….
Buying CRO on the day of the commercial (21c) would mean a return of -46% today.
Selling at the top in late November (97c) would have yielded a return of +360%, or a 3.6x.
Buying at the top, would have yielded a return of -89%.
Fortune favored some brave people I suppose….
submitted by /u/gnarley_quinn
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