Crypto.com Coin CRO/USD is the native cryptocurrency token used by the Crypto.com Chain.
It allows businesses to receive all of their payments instantly when they use CRO or stablecoin or in FIAT, and it is available across many cryptocurrency exchanges.
The $700 million arena renaming deal as a catalyst for growth
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On November 4, we discussed Crypto.com’s partnership with Twitch Rivals.
Downtown L.A.’s Staples Center is going to become the Crypto.com Arena in one of the largest naming rights deals in U.S. History.
The deal happened between the Hong Kong-based cryptocurrency exchange as well as AEG, and it is worth $700 million.
With this deal, Crypto.com will become the official cryptocurrency platform of the Los Angeles Lakers and the L.A. Kings.
This deal will become official on Christmas Day, which is when one of the NBA’s highest-profile regular-season games occurs.
This is a contest between the Lakers and the Brooklyn Nets at the newly-named Crypto.com Arena.
There will be a new logo for the building, alongside premium branded areas of the arena, such as a large activation space at the building’s entrance.
Based on a rendering of the arena, we can safely assume that the deal will also include a new rooftop banner showcasing Crypto.com.
All of this has the potential to increase the interest in the Crypto.com exchange and, as such, increase the value of the CRO token.
Should you invest in Crypto.com Coin (CRO)?
On November 17, Crypto.com Coin (CRO) had a value of $0.454.
To get an indication as to what kind of value point this is for the token, we will be analyzing its all-time high value as well as its performance in October.
CRO reached its newest all-time high-value point on November 15, when it reached a value of $0.515. At its ATH point, CRO was worth $0.061 more or had a 13% higher value.
When we look at the performance in October, on October 1, CRO had a value of $0.158.
On October 29, CRO had a value of $0.2291.
Here, we can see that throughout October, CRO increased in value by $0.0711.
From October 29 to November 17, the token increased by $0.2249 or by 98%.
According to data from IntoTheBlock, CRO saw $560.18 million in transactions greater than $100,000 in the last seven days.
Additionally, CRO saw $84.46 million in total exchange inflows and $150.79 million in total exchange outflows within the last seven days.
With this in mind, we can expect CRO to reach a new all-time high value of $0.6 by the end of November, making it a solid investment.
Where to buy right now
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use: