Crypto.com Partnership to Send CRO on a bull run?

Crypto.com have been crushing it lately. Over the last two weeks they have announced that they are the main sponsor of the FIFA World Cup Qatar 2022, and a new partnership with Cardlytics, a cash back rewards platform. Is it a great time to buy CRO (Crypto.com’s coin)? It just might be…

Crypto.com and FIFA

Crypto.com is not shy when it comes to sponsorships, and their marketing budget appears to be completely mind boggling. From partnering with Booking.com, to sponsoring the UFC, or their iconic purchasing of the name rights for the Las Angeles Crytpo.com Arena (previously STAPLES Center), Crypto.com has proved their marketing budget is immense.

So it’s no surprise that Crypto.com’s latest sponsorship is one of the largest sporting events in the world; the 2022 FIFA world cup. The sponsorship will drive significant awareness and brand exposure for the crypto trading platform.

“We could not be more excited to sponsor the FIFA World Cup, one of the most prestigious tournaments in the world, and to drive further awareness of Crypto.com globally,” said Kris Marszalek, Co-founder and Chief Executive Officer of Crypto.com.

This sponsorship is likely to increase global attention to cryptocurrency markets again, a much welcomed change after a slow Q1.

Crypto.com and Cardlytics

Crypto.com has also just announced a partnership with Cardlytics. Crypto.com’s card program is the worlds most rewarding crypto card program, and will now be able to provide even more rewards. Cardlytics is a cash-back rewards platform with hundreds of brands and retail partners.

As of March 30 2022, U.S.A card holders can earn up to 10% back in bonus rewards. All valid users are automatically enrolled in the program, receiving cashbacks at brands such as Adidas, Costco, H&M, Office Depo and others.

What Does this mean for Crypto.com’s cryptocurrency?

CRO has already started making significant upside, having broken the descending trendline in mid-March. The major Cryptocurrency Exchange’s token now looks set to make sustained upside. If price is able to make a break above the $0.50 level of the previous highs it seems incredibly likely we will see a longterm bull market.

Currently price is trading at 48 cents USD.

CRO/USD 4H Chart, 5 April 2022

Published by Tom Stewart

Head of data analytics at TradeProofer. Analyst at Opes Trading Group. FX enthusiast.

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