This is why CRO is up 244% in November | Bitcoin magazine
The crypto industry, despite its massive chart growth and the ever-changing pricing route for various assets, is still in its infancy.
In a similar context, Crypto.com has been focused on launch, which resulted in the CRO price increasing 244% in November 2021.
Behind the rise of CRO lies excellent marketing and the exploitation of a bullish landscape. Protests began when Crypto.com and Ultimate Fighting Championship (UFC) announced a partnership.
UFC is an American mixed martial arts entertainment company with a worldwide fan base of more than 625 million fans in 175 countries.
Crypto.com becomes UFC sponsor for the first time with the name “Crypto.com” printed on all athletes’ gear – Great Marketing.
Following the UFC acquisition, Crypto.com announced a partnership with Paris Saint-Germain, a leading European football club. In addition to the partnership, Crypto.com also announced that a significant portion of the funding costs will be paid in CRO.
In addition, the Coinbase exchange has listed the CRO. It should be noted here that it rarely happens that an exchange lists the original assets of a competing exchange. So the CRO list seems to be being driven by Coinbase’s customer demand.
In addition, Crypto.com bought the naming rights to the Lakers’ Staples Center in a $ 700 million deal. This is the most expensive naming rights deal in sport. Oddly enough, CRO’s value rose 30% immediately after the announcement.
How long will the upward trend last?
CRO broke above the $ 0.3 mark after months of consolidation before gaining more than 200% in the past few weeks. Now, short-term MVRV (Market Value to Real) returns are reaching alarming levels for investors, which could result in investors taking profits in the next few sessions.
The source: mood
The growth of networks and active addresses is also solidifying, which suggests that a lack of action at these addresses will also lead to price declines.
Excellent marketing and taking advantage of circumstances fueled the rally, however, and the solid, consistent material will last.
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According to AMBCrypto