The high-profile promotional efforts of crypto exchange and debit card provider crypto.com are bearing fruit. The platform's token quadrupled its CRO value in November.
CRO hit an all-time high of $0.7984 on Sunday, making it the 13th largest cryptocurrency in the world by market cap. In the first days of November, the CRO was trading at $0.2097.
The name of the Staples Center, where the NBA team Los Angeles Lakers play their games, is crypto.com Arena, which also affected the folding performance of the CRO.
crypto.com has chosen Hollywood star Matt Damon as the face of its $100 million television and billboard campaign. Ads and promotions will take place in dozens of countries. Other well-known names such as skier Lindsey Jacobellis, rap artist CL and astronaut Scott Kelly will also appear in the campaign targeting individual crypto investors.
CRO is widely traded on the Ethereum blockchain. The token used in the crypto.com ecosystem is used by users to take advantage of opportunities such as higher rewards for card payments, higher interest rates for loans from crypto funds, and lower transaction fees. Not only is the platform a cryptocurrency trading app, it also offers Visa debit cards.