Crypto.com’s CRO Becomes The New SHIB — Gains x4 Of Its Value In Record Time
- CRO has climbed by over 100% in the last week and makes a strong case for itself as it looks to flip top cryptocurrencies.
- The ingenious marketing efforts of Crypto.com are responsible for the asset’s stellar display.
- Other coins that have made similar gains in recent months include SOL, SHIB, and AVAX.
Crypto.com’s marketing campaign has seen the project’s utility token rise by triple digits in a week which could see it enter into the top 10 cryptos by market capitalization. Already, some are already comparing the meteoric rise to that of popular meme coin SHIB.
CRO’s Climb To Prominence
Investors are forced to take note of CRO, the utility token of Crypto.com as it gains a staggering 121.55% in under a week. The last 24 hours have seen the asset climb by nearly 15%, going on to set new all-time highs and leapfrogging other cryptos along the way.
At the start of the month, CRO was trading at $0.2097 but went on to set a new record of $0.9132 on Tuesday in what has been a truly meteoric rise. The asset’s market cap ballooned to $22.8 billion which places it at 12th place ahead of Shiba Inu, Litecoin, and Terra. The last 24 hours have seen frenetic activity around CRO with trading volumes at $2.1 billion as investors struggle for a piece of the action.
CRO’s rise in recent days is intricately linked to the groundbreaking announcement of the renaming of LA’s Staple Center to Crypto.com Arena in a deal reportedly worth around $700 million. Only last month, the exchange launched a massive cryptocurrency ad campaign with the slogan, “Fortune Favors The Brave” starring Hollywood’s Matt Damon. Crypto.com has partnerships with the Italian Serie A, French champions PSG and the UFC.
The combination of these partnerships has resulted in Crypto.com rising to become the number 1 app on the US Google Play Store. Crypto.com was founded in 2019 and ranks as the 10th largest cryptocurrency exchange in the world. It is expected that the success of its marketing campaigns will attract higher volumes from users around the world.
Similar Runs
CRO is not the only asset to notch stellar gains in recent months. SOL grabbed headlines after embarking on a terrific streak that saw it rise all the way to 5th place as it made triple-digit gains. The rise to prominence placed it as the firmest competitor to Ethereum as it offered an alternative to Ethereum’s sky-high gas fees.
AVAX broke into the top 10 after flipping DOGE and SHIB in what was an unexpected rally. The asset set a new all-time high of $146.22 in the process as it staked its claim for a top spot.
The list will not be complete without the honorable mention of SHIB that broke away from the DOGE’s shadow to peak at 9th place after gaining by over 1,000%. The gains placed SHIB as one of the most googled crypto assets ahead of Bitcoin and Ethereum in 2021.
Read more: https://zycrypto.com/crypto-coms-cro-becomes-the-new-shib-gains-x4-of-its-value-in-record-time/
Text source: ZyCrypto
