Crypto.com’s CRO Coin gained prominence after the firm bagged the contract to rename Los Angeles’ iconic Staples Centre. The coin which was trading at $0.20 a month ago, touched an all time high of $0.96 on November 26.
Investors made good use of the news by placing their bets on the coin only to see their holdings rise each day. CRO Coin delivered phenomenal returns since two weeks and rewarded early investors with fistful of dollars.
Whales took advantage of the coin’s rise and purchased large bags of tokens. The whales enjoyed good returns as the coin delivered the desired results in just two weeks.
Two different whales transferred their CRO Coins to different and unknown wallet addresses respectively today. Whale no 1 transferred 80 million CRO coins worth $70.9 million from an unknown wallet address to Huobi exchange. Huobi is founded in China and has bases in Hong Kong, South Korea, Japan and the United States.
Also, whale no 2 transferred 80 million CRO coins worth $71.2 million from crypto.com to an unknown wallet address.
Whale Alert was the first to dish out the whales transactions and shared the details on their Twitter handle. The transaction details are available on the websites transaction section.
”80,000,000 #CRO (70,987,231 USD) transferred from unknown wallet to #Huobi,” tweeted Whale Alert. They followed it up by “80,000,000 #CRO (71,286,872 USD) transferred from #CryptoCom to unknown wallet”.
CRO Coin Reached Mainstream Through the Deal
Investors gained interest in CRO right after the bagged the deal to rename the Staples Centre. Crypto.com secured a 20-year contract deal of $700 million to buy the naming rights. The deal was signed with Anschutz Entertainment Group for the rights to name the home of Los Angeles Lakers.
The name change will take effect on Christmas Day when the Lakers host the Brooklyn Nets. CRO Coin shot up +25% immediately after the deal and attracted heavy buying pressure. The buying pressure was so huge that the coin made it to the top 20 cryptocurrencies by market value.
The deal with AEG would makes crypto.com to gain additional market share in the crypto sphere. It also makes the company to reach mainstream audience and bring value to their real use-case partnerships.
”This partnership is about the future. AEG and Crypto.com not only share a vision about innovation and the future of sports and entertainment, but we also have a shared commitment to our communities where we work and live. We look forward to partnering with Crypto.com to create meaningful initiatives to bring that vision to life in the years to come,” said Dan Beckerman, the President and CEO of AEG.