Crypto.com Coin Has a New Name -- Cronos -- and Is Surging Today

One of the more interesting projects to take the crypto market by storm is Cronos (CRYPTO: CRO). Formerly the Crypto.com Coin, Cronos is the token powering Crypto.com's powerful exchange, which has grown in investor interest mainly due to a number of marketing efforts tied to the National Basketball Association as well as advertisements featuring popular celebrities. Cronos had surged 6.7% higher over the last 24 hours as of 12:50 p.m. ET Wednesday, amid a very bullish day for cryptocurrencies overall.

Today's price action appears to be the result of both reduced geopolitical pressures and increased investor interest around the recent rebranding of Crypto.com Coin to Cronos. This rebranding highlights Cronos' focus on its Cronos chain, which allows developers to launch decentralized finance (DeFi) applications on top of this network.

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Source Fool.com