The price of CRO tokens rose 30% to an all-time high over the next 20 years following the last Arena deal over the naming rights of Staples Heart. So read more today in our latest altcoin news.
If putting your name on a basketball arena doesn’t add the price of a coin, what then? Fortunately for Crypto.com and its multi-million dollar move, the CRO token price soared 30% to a new all-time high.
The price of the CRO token has increased more than 30% in the past 24 hours, hitting an all-time high below $ 5.57, beating the previous record of $ 0.50, with the price of the coin rising last month thanks to the The addition of competing exchange Coinbase tripled CRO to the exchange.
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The Singapore-based exchange’s $ 700 million deal announced a day ago to purchase the naming rights to the Staples Center has fueled the price of the exchange-based coin. The Staples Center opened in 1999 and is home to four sports teams, the NBA Clippers, NBA Lakers, WNBA Sparks, and NHL Kings. It also hosts concerts and events like the Grammy Awards. The LA location is a heavily trafficked place and the best place to go for a crypto exchange, to name it.
While a recent poll by Pew Research found that 86% of Americans have heard of cryptocurrencies, 16% have bought or used them. FTX CEO Sam Bankman Fried, who ran the exchange to buy $ 135 million of Miami Heat’s naming rights, admits his company is the second most popular exchange after spot size and derivatives. FTX thrives in marketing because it’s more than just brand recognition.
CRO Coin is a way for Crypto.com to bring new customers to its platform, be it through a basketball game, television or elsewhere.
Exchange customers receive rewards in CRO and then can use them to access services at a discount, and can also be used in decentralized financial applications to access credit services, lending or trading.
As recently reported, cryptocurrency Crypto.com rose to $ 3.30 after it was listed on Coinbase, and the exchange began aggressively listing other crypto assets later that year. Its effects go beyond other lesser-known coins such as ARPA Chain and Jasmy Coin, but also Crypto.com. Coinbase has announced that Ethereum-based CRO trading will start immediately.