- Crypto.com’s CRO has seen a $14 billion market cap hike today.
- The token is also up by 40% in the past 24-hours.
- Many attributed this surge to an update that Staples Center in LA will be renamed to Crypto.com.
CRO — the primary native currency of Crypto.com is proving that it has no time to waste in the crypto space as it has freshly surpassed a whopping $14 billion in market cap. Moreover, in terms of price action, it is also up by 30%, placing it as the 16th largest crypto on CoinMarketCap.
Notably, the CRO news today is based on its performance in the past 24-hours, setting a new all-time high for the crypto ahead. In relation to the CRO’s current bullish momentum and all the hype around its market cap surge, many attributed this as a response to the recent announcement that Staples center in LA will be renamed to Crypto.com on the right deal.
Akin to this, the company’s remaining right deal is scheduled to occur in June 2022. With this incoming event, it is alleged that Crypto.com paid over $700 million only for the remaining right deal which is expected to last for a period of 20 years.
Looking at how huge Crypto.com paid for the renaming right deal, it makes sense that this is a long-term investment that will not only be on the good side for the company but help bring further exposure of cryptocurrency to the masses.
At the time of writing, the CRO price is trading at $0.587210 which is getting much closer to hitting a new ATH.