The world of cryptocurrencies has been going crazy the past few months. With tokens hitting all-time-highs and cryptos being accepted by more and more businesses, 2021 was truly the year of cryptocurrencies.
To top all of this, Singapore-based crypto exchange platform Crypto.com signed a massive $700mn deal to acquire the naming rights of the iconic Staples Center in Los Angeles.
Staples Center To Be Renamed To Crypto.com Arena
The Staples Center is officially going to be renamed as the Crypto.com Arena on the Christmas Day. Staples Center, oh, we mean Crypto.com Arena is the home to famous franchises such as basketball’s Lakers, Clippers and Sparks, and ice hockey’s Kings
As per people with knowledge of the transaction, Crypto.com will hold the right to the name for the next 20 years post-which the naming right will lapse back to the previous party (supposedly).
Following the news, the Crypto.com Coin (CRO) hit an all-time-high jumping more than 30% in two days. It touched it’s high price of $0.5931 before retracing to lower levels.
Why Did CRO Hit All Time High?
Another reason why the Crypto.com Coin (CRO) saw a rise in upward price momentum was due to the Oscar-winning actor Matt Damon. The actor is the newest face of the brand and has endorsed the company in a new commercial advertisement.
At the end of October, Crypto.com launched a global advertising campaign featuring Oscar-winning actor, Matt Damon. The commercial, entitled “Fortune Favors the Brave,” is themed around what human beings have achieved throughout history by daring to pursue their dreams.
Other coins like Shiba Inu, Dogecoin, and Bitcoin have also been the talk of the crypto world lately. While Shiba Inu has been competing with rival Dogecoin, Bitcoin has activated it’s long awaited ‘Taproot’ update after four years.
To sum up, the world of cryptocurrencies have been on a adventurous journey to the top and there is no pause in sight. What do you think about the whole story? Tell us your thoughts in the comments.