CRO's Massive 380% Rally: CRO Could Be Top Ten Crypto
CRO, the utility token on crypto.com, has had one of the better Novembers out of any coin on the market.
At the time of writing, CRO is up 384% in the last 30 days, according to data from CoinGecko. In the same timeframe, Bitcoin is down 7%.
CRO suddenly finds itself jostling for a position in the top ten crypto assets by market cap. Excluding stablecoins Tether (USDT) and Circle’s USDC, CRO is the tenth-largest coin on the market, currently only $3 billion behind Avalanche (AVAX),and just ahead of meme coin Shiba Inu (SHIB).
Crypto.com is a full-package crypto exchange that allows trading, holding, staking, wallets, non-fungible tokens (NFTs) and more. It also offers its own crypto.com VISA card enabling its users to spend their digital assets with investors.
Founded in 2016, Crypto.com has soared in popularity and brand awareness over the course of 2021’s bull market.
Last week, the company snagged what is thought to be the largest naming rights deal in all of sports history. The Staples Center in Los Angeles, home of the NBA's LA Clippers and LA Lakers, as well as the NHL’s LA Kings, will soon be called “Crypto.com Arena” starting this Christmas.
The name will officially change when the Lakers host the Brooklyn Nets in the NBA’s annual Christmas showcase.
Crypto.com also has sponsorships with Formula One, the UFC, Italy's Serie A, Paris St-Germain and the NHL's Montreal Canadiens, as well as the Philadelphia 76ers. Additionally, the site has slated Hollywood actor Matt Damon as its new brand ambassador, and the celebrity now shows up on Crypto.com’s homepage.
According to the Financial Times, Crypto.com has estimated revenues of $1.2 billion. It has over 3,000 employees, and CEO Kris Marszalek expects the company to have over 100 million users by the end of 2022.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.