Crypto.com Exchange Token Erupts In November — This Is Pushing The CRO Price Higher
Major cryptocurrency exchange Crypto.com has been leading the crypto markets over the past month. Could its most recent sponsorship deal send the price of its native token CRO even higher?
Covered:
- CRO Price Update
- Get Familiar With Crypto.com
Crypto.com has been making a splash in the mainstream with countless sponsorships, billboards, advertisements, and more to promote the cryptocurrency space. Just last night, it was announced that Crypto.com bought out the naming rights to the Los Angeles Lakers’ Staple’s Center, which will now be the Crypto.com arena. Beyond the very recent media spotlight, let’s take a look at what had to happen behind the scenes to push the CRO price higher.
Crazy watching @cryptocom execute a $1 billion sports marketing campaign.
1) PSG – $30m 3yr
2) UFC – $175m 10yr
3) Formula 1 – $100m 5yr
4) 76ers – $10m 6yr
5) Montreal Canadiens – logo at center ice
6) Serie A – partnership
And now a $700m 20 year deal with LA stadium. pic.twitter.com/dL1RlNgZM9
— Yano (hiring!) (@JasonYanowitz) November 17, 2021
RECOMMENDED: CRYPTO.COM FOLLOWS IN FTX’S FOOTSTEPS WITH MAJOR ESPORTS PARTNERSHIP
CRO Price Update
CRO rallied 35% in the past 24 hours and up 200% overall in the last month. Currently, CRO has cooled off from its new all-time high of $0.62 USD and is trading at $0.54 USD.
The relative strength index, which measures the overbought and oversold conditions of assets, is currently approaching levels previously seen when CRO initially topped out at a local high of $0.34.
Despite what you see in the news, other data analytics firms have been tracking the surge in CRO attention for months now.
Taking a look at Google Trends, Crypto.com started rising in search volume starting at the beginning of Q4 in October. The platform likely picked up more momentum from new traders entering the space as Q4 of the bull run kicked off.
According to web traffic analytics provider SimilarWeb, Crypto.com saw a 10.5% influx in user traffic in the month of October, totaling 10.33 million site visitors. This number runs just shy of its all-time high daily monthly user traffic from May when the platform hosted a massive 13 million visitors.
It seems as though Crypto.com’s massive marketing campaign over the past several months has
Get Familiar With Crypto.com
Crypto.com is a Hong-Kong based cryptocurrency exchange platform that aims to promote the widespread adoption of crypto throughout the world. Initially launched as Monaco technologies, it was later rebranded as Crypto.com.
Just this week, Crypto.com launched its own non-fungible token (NFT) marketplace, further setting the brand apart from its competition.
NFTs are now on https://t.co/GLiHVFCBvJ!
The new #NFT page lets you view details of the top 100 NFT collections on the Ethereum blockchain by trading volume.
Get an overview of the 7D sales volume, floor price and other key statistics pic.twitter.com/ykRdOQhGaD
— Crypto.com (@cryptocom) November 16, 2021
The CRO mainnet blockchain launched back on March 25th. It serves primarily as a vehicle to bring functionality to Crypto.com Pay mobile payments. In the future, Crypto.com plans to grow the reach of the CRO platform to power its other products.
The post Crypto.com Exchange Token Erupts In November — This Is Pushing The CRO Price Higher appeared first on CryptosRus.
Text source: CryptosRus
