Crypto.com coin was one of the few tokens that rallied against the tide noting high gains and making a new ATH as Bitcoin triggered larger market sell offs. CRO, after making an all-time high of $0.974 on November 24, has started to see minor consolidation at the time of writing which, many in the market fear could be the end of CRO’s rally.
Marketing marking gains
After a high-profile marketing stunt, CRO’s marketing campaign seemed to pay off as its value continued to rise. Earlier this week, Crypto.com had signed a 20-year deal worth $700 million to name the former Staples Center in Los Angeles, since then the coin’s circulating market cap jumped by 80% as its social volumes rose.
However, almost a week post the renaming announcement, it seemed like social attention had started to fade. Notably, there has been a positive correlation between the coin’s price and social volumes, now as social volumes decline, CRO’s price too seems to be losing ground. Since the ATH the 13th ranked coin was down by almost 15% within a day.
The aforementioned trend wasn’t all that bad though. Data from Santiment highlighted how with every subsequent price spike there is a higher spike in social volumes. Post which a short-term correction is also noted, while waning social attention wouldn’t necessarily end the rally it might eventually affect it.
Interestingly, CRO’s social…