Crypto.com CRO token hits all-time high following addition to Coinbase

Coinbase adds a rival’s token

Two days ago, Coinbase announced the addition of the token of its rival Crypto.com, the CRO. The news surprised: the platform has decided to list all cryptocurrencies, but it still refrains from touching those of its immediate competitors … For example Binance BNB.

Modestly, Coinbase was content to explain that the CRO is “an Ethereum token that powers Crypto.com Pay, a service that allows users to pay for goods and services with cryptocurrency, while receiving cashback rewards. “.

Coinbase is careful not to present Crypto.com as an exchange platform, but that was not enough to avoid giving its rival a boost.

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The CRO benefits from the Coinbase effect

Within the ecosystem, the “Coinbase effect” is indeed well known: additions to the exchange platform tend to increase the price of a token. This was the case for the CRO, which takes + 58% over the last seven days, and + 23% just over the last 24 hours. Early this morning, it broke its all-time high, hitting over $ 0.36 on some platforms:

CRO Crypto.com course

Source: TradingView, CRO / USDT

It is now the 27th most capitalized cryptocurrency at the moment, it currently weighs over $ 8 billion.

Crypto.com is talking about her

We hear more and more about Crypto.com lately, the platform having apparently put the package on a more aggressive communication. A few days ago, the exchange began broadcasting an advertising sport featuring a particularly enthusiastic Matt Damon about cryptocurrencies.

In addition, while Coinbase became the most downloaded application in the United States at the moment for Apple and Android, we also saw Crypto.com in their respective top 10 and top 5. Will the platform manage to threaten the giant Coinbase? The coming months will tell us …

👉 Also read – The Crypto.com platform (CRO) signs a partnership with the Philadelphia 76ers

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About the author: Marine Debelloir

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Deputy Editor-in-Chief 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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