CRO Token Price Surges 30% To New ATH After Arena Deal

The CRO Token price surges 30% to a new all-time high after the latest Arena deal for the naming rights of the Staples Center for the next 20 years so let’s read more in our latest altcoin news today.

If placing your name on a basketball arena will not raise the coin price, what will? Fortunately for Crypto.com and its multi-million dollar move, the CRO token price surges 30% to a new all-time high. The price of the CRO token increased over 30% in the past 24 hours and hit an all-time high below $0.57 which beats its previous record of $0.50 with the coin’s price tripling in the past month thanks to the rival exchange Coinbase adding CRO to its trading platform.

🚨 NEW 🏀 SHIRT ⭐️ ALERT! 🚨

From now on, Los Angeles plays its basketball at THE CRYPT. #WearTheMoment

Available Now: https://t.co/I50Nhn8n4c pic.twitter.com/zvynROLAVL

— BreakingT (@BreakingT) November 17, 2021

The Singapore-based exchange’s $700 million deal to buy the naming rights to the Staples Center announced a day ago sped up the exchange-based coin’s price rise. The Staples Center that opened in 1999 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 venue is a highly visited location and it is the best place for a crypto exchange to put its name to it.

While the recent Pew Research poll found that 86% of Americans heard about crypto at all, 16% have bought or used them. The FTX CEO Sam Bankman Fried that led the exchange into a $135 million purchase of the Miami Heat’s arena naming rights, admitted that his company is the second most popular exchange in terms of spot and derivatives volume. FTX goes big on marketing because this is now more than just name recognition. The CRO Coin is one way for Crypto.com to bring new customers to its platform whether via basketball games or TV or somewhere else. Exchange customers receive rewards in CRO and they can then use them to access services at a discount and can also be used in a decentralized finance application to access borrowing, lending, or trading services.

As recently reported, Crypto.com coin surged to $0.30 after it was listed on Coinbase with the exchange starting to aggressively list other crypto-assets as of late. Its actions extended beyond the other little-noticed coins like ARPA Chain and Jasmy Coin but also the Crypto.com coin as well. Coinbase announced that the trading of Ethereum-based CRO will start immediately.