Crypto.com’s CRO Token Dominated Crypto Markets This Month on LA Stadium Deal
The token was the top performer among digital assets with a market cap above $10 billion in November.
Crypto.com’s CRO token more than tripled in November, becoming the month’s top-performing cryptocurrency, after the company announced new marketing initiatives involving hiring Oscar-winning actor Matt Damon to star in an advertising campaign and purchasing a naming-rights deal with the Staples Center, where the Los Angeles Lakers basketball team plays.
“Crypto.com’s recent marketing initiatives have certainly played a role in CRO’s gains,” said Clara Medalie, research lead at Kaiko, a market data provider.
“Exchanges are increasingly leveraging massive marketing initiatives to boost name brand recognition, and this is having a strong effect on token prices, which have historically been highly reactive to bullish exchange announcements,” said Medalie.
