Amid the crypto debacle, Crypto.com Coin (CRO) has risen more than 80% in the last seven days and has jumped to thirteenth place in the ranking of the world’s top cryptocurrencies, with a capitalization of about 18,000 millions of dollars.
The main reason is a Crypto.com deal to change the name of the iconic Staples (NASDAQ: SPLS ) Center, the home stadium of the Los Angeles Lakers and WNBA’s Sparks, to “Crypto.com Arena” next December. Specifically, the agreement takes effect on December 25, as reported by Crypto.com.
The https://t.co/vCNztABJoG Weekly Market Update:
— Crypto.com (@cryptocom) November 23, 2021
The contract, signed for a period of 20 years and worth 700 million dollars, links Crypto.com Coin with one of the main brands in the NBA, offering great brand strength thanks to the marketing strategy.
This deal follows Crypto.com’s strategy to gain brand and customer recognition through deals in sports, music, and more.