Crypto.com CRO price hits new record high in sluggish market

Crypto.com CRO price hits all-time high

Over the last 24 hours, the main cryptocurrencies have continued to fall, with Bitcoin (BTC) losing -3.2%, Ether (ETH) falling -4.6% and BNB following the trend, at -5.1%.

This is why Crypto.com’s CRO record remains notable. The exchange platform’s native cryptocurrency jumped + 46% in less than a day, reaching $ 0.82:

Crypto.com CRO hit record yesterday – Source: TradingView, CRO / USD

Over the last 24 hours, the price of the CRO still shows + 12.6%. Along with the Avax of Avalanche, it is the only cryptocurrency in the top 20 to progress over the week, jumping by + 56%. The CRO is now the 13th most capitalized cryptocurrency, with a market cap of $ 17 billion.

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The “Staples effect” continues to carry cryptocurrency?

Last week, Crypto.com signed a $ 700 million partnership with Staples Center stadium in Los Angeles. This had been seen as an irruption in a very “mainstream” sector, and it is that which seems to continue to carry the course of the CRO.

Crypto.com has resolutely focused its strategy on partnerships with sports teams, in order to promote its platform and distinguish it from particularly established competitors:

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

According to data from CoinGecko, the exchange platform Crypto.com is currently 6th in 24-hour volume, ahead of KuCoin and FTX.

All this also reflects a global trend: exchanges want to improve their image and there are several initiatives to link platforms to popular services, in particular in the context of sport. We recently learned that FTX had confirmed spending several million dollars to be able to broadcast an advertisement during the Super Bowl.

On the same subject – Crypto.com (CRO) signs a multi-year partnership with the Italian football championship

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About the author: Marine Debelloir

Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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