Following the roll-out of significant updates for its users, leading payments and cryptocurrency platform, Crypto.com has received a major boost in the value of its token, CRO, within the last 7-days.
The token has been up 24% on the weekly chart, which saw CRO dethroning both Chainlink’s LINK and Stellar’s XLM in CoinMarketCap’s ranking. At the time of writing, Crypto.com coin is ranked 12th largest cryptocurrency with a market cap of $1,728,545,995, followed by XLM (market cap: $1,676,841,633) and LINK (market cap: $1,558,321,85) in the 13 and 14 positions respectively.
Stellar’s trade volume in the last 24 hours has recorded a decrease of 0.24%, while LINK is up by 1.60%. Interestingly, CRO has also been up by 3.93% in the last 24 hours boasting of a daily trading volume of $60,068,754 according to data on CMC. The price of CRO increased from $0.08 to $0.10, at press time.
What’s behind the surge in the price of CRO?
Notably, this rapid growth of the CRO token can be attributed to Crypto.com’s remarkable milestones throughout May.
The firm recently announced that it had become the largest crypto card provider in the world via the shipping of its MCO Visa debit cards to 31 countries in Europe, a move made to accelerate the acceptance of cryptocurrency conversion around the world.
As reported, the MCO debit card, which supports both crypto and fiat top-ups, was also launched in the United States to support the company’s objective of boosting the adoption of crypto assets.
Other significant milestones achieved by the firm last month that also contributed to the spike of the CRO token include the increase in the number of users from one million to two million in just six months, as well as the introduction of its non-custodial wallet.