Crypto.com coin price is up over 28% today, setting a new all time high and making it the biggest gainer on the platform. With a market cap of $18.43 billion and a 24 hour trading volume of $1.98 billion, CRO is the 13th biggest cryptocurrency on the market. Let’s take a look at any recent Crypto.com news and see why CRO price is rising.
Crypto.com News
The biggest news regarding Crypto.com is their recent purchase of $700 million for the naming rights to LA’s largest football stadium. Previously names the Staples center, it will be renamed to Crypto.com Arena on December 25th.
The recent stadium purchase marks one of the largest sums ever paid for a sports arena. As cryptocurrency markets continue to soar, it’s inevitable that crypto investing will become mainstream in the near future.
In more recent news, Crypto.com announced their ETH supercharger, allocating over $1 million in ETH to be distributed to CRO stakers.
Unfortunately, due to regulation issues US users aren’t able to stake CRO via the official Crypto.com exchange. However, US users can download the Crypto.com DeFi Wallet and use it to stake their CRO with no issues.
While there’s no lockup period for staked CRO tokens, keep in mind that there is a 28-day unbonding period after unstaking, during which you can’t access those funds.
There’s no doubt that the recent ETH supercharger announcement is a big contributor to Crypto.com coin’s recent price hike. Along with the $700 million stadium purchase, Crypto.com continues to dominate cryptocurrency markets and is a great long-term hold for 2022.
Crypto.com Price & Tokenomics
At the time of writing, CRO is trading at $0.71, up 26% in the past 24 hours. Crypto.com Coin’s market cap is at a whopping $18.2 billion, with a 24 hour trading volume of $2 billion.
Over the past month, CRO’s price more than tripled due to the impressive marketing campaign launched by the platform. Crypto.com is a perfect example of how a well executed marketing strategy can pay off.
With the recent price hike setting a new all time high, it looks like the market still has plenty of momentum to continue pushing CRO’s price higher. Personally, I wouldn’t be surprised if CRO hits $1 by the end of the year.
Disclosure: This is not trading or investment advice. Always do your own research before buying any cryptocurrency.
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