The native token for Crypto.com – CRO – has flipped meme coin Shiba Inu (SHIB) and secured its spot in the top 15 cryptocurrencies by market cap following a spate of high-profile announcements.
The token currently sits in the number 12 position behind fellow meme coin DOGE and AVAX – the native token for the Avalanche blockchain.
CRO flipped SHIB following an incredible rally to a new all-time high of $0.9436 leaving it sitting comfortably at a $23bn market capitalisation according to CoinMarketCap.
CRO flipped SHIB and now sits behind DOGE and AVAX in the market cap rankings
The token’s incredible run into the upper echelons of the industry began after a new advertising campaign titled “fortune favours the bold” featured A-list Hollywood actor Matt Damon as the lead.
From there, its spread started to broaden, leading to lucrative sponsorships with PSG, NBA team Philadelphia 76ers, Formula One teams and a deal with esports giant Twitch Rivals.
The exchange then launched its Cronos mainnet – an EVM blockchain enabling it to offer its native user seamless NFT and DeFi support.
Crypto.com’s biggest catalyst was the rebranding of the iconic Staples Center to the ‘Crypto.com Arena’ – a deal that led to waves of mainstream adoption and interest to both the platform and the crypto industry.
We're extremely proud to announce that Staples Center, Los Angeles' most iconic arena is getting a new name:
https://t.co/vCNztATkNg Arena
As part of this 20 year partnership, we're also excited to welcome the @Lakers & @LAKings as our newest partners! pic.twitter.com/KCfYKySDRt
— Crypto.com (@cryptocom) November 17, 2021
Since the November 17 announcement, the token has now doubled in price from $0.45 to a current value of $0.92 and continues to develop its platform and brand through further integrations.
It also revealed it’s working with Ethereum scaler zkSync to help scale the network and introduced Cronos deposit and withdrawal support for the popular dog-based duo DOGE and SHIB.
Crypto.com has also now proclaimed itself “the world’s most secure crypto platform” following its completion of a SOC2 audit by Deloitte.
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