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On November 17, the cryptocurrency change Crypto.com and Anschutz Leisure Group (AEG) shocked the world with an enormous $700 million 20-year agreement on the naming rights of the Staples Heart in Los Angeles.

And now per week after the announcement, the Crypto.com CRO token value has doubled in worth from $0.43 on Nov.17 to $0.76 on Nov. 25, in accordance with CoinMarketCap.

Meltem Demirors, the Chief Technique Officer CoinShares Worldwide Ltd famous on Twitter:

“The ensuing PR doubled its token value and led to a $9 billion run-up in market cap”

Crypto.com Market Cap
Even after cooling off over the previous few days, the CRO token added over $7 billion to its market cap over the previous week.

What’s Crypto.com and why is its native token CRO so vital?

Crypto.com is a cryptocurrency change primarily based in Singapore based in 2016 the place you should purchase, promote, borrow, lend, spend cryptocurrencies with their Visa debit card, and so they lately added their very own NFT market the place you should purchase and promote NFTs.

CRO is the native token of the change and the holders throughout the platform will profit from diminished charges in shopping for and promoting cryptocurrencies, incomes extra curiosity because the holder lends his tokens, decrease rates of interest when borrowing cash and the next cashback of their Visa Card in accordance with Crypto.com web site.

Crypto.com is the 10th greatest cryptocurrency change by every day quantity ($1.eight billion), and CRO is the 13th greatest cryptocurrency by market capitalization ($21.three billion) in accordance with CoinMarketCap.

Will crypto mainstream adoption come from the sports activities trade?

Crypto.com shouldn’t be the one main crypto change shifting into sports activities — FTX has additionally made partnerships this 12 months.

In June, the change turned the official crypto sponsor of Major League Baseball and so they additionally bought the naming rights of the American Airways Enviornment in Miami, renaming the venue to FTX Enviornment. And simply final month, Binance Trade partnered with the Italian soccer membership SS Lazio, in accordance with Forbes.

Crypto.com has additionally made earlier partnerships with Formula 1UFC, the French soccer membership Paris Saint Germain (PSG), and the NBA basketball workforce Philadelphia 76ers.

Cryptocurrencies are in a stage of mainstreaming, and the biggest cryptocurrency exchanges are investing in sports activities trade partnerships to extend their publicity to the billions of world sports activities followers.

With the surge within the value of the CRO token, buyers seem to worth the drive in direction of mainstream partnerships.

Disclaimer: Crypto.com is an promoting companion of CryptoSlate.

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