First and foremost, I am a fan of Crypto.com, the CRO token, and all the services I use there.

However... I'm confused why the market seemed to miss an important event.  Crypto.com disowned the MCO token. 

Update:  I neglected to keep an eye on the trading volume -- while the price is jumping around, the volume has decreased so significantly that it's safe to say not many people are buying this now.  I'm still bullish on CRO though!

Well first, they had a swap program to turn your MCO into CRO.  That just ended:

The swap program will finish on 2 Nov 2020 at 23:59 UTC.

After that point:

MCO tokens that were not swapped will still exist and circulate on the Ethereum blockchain as ERC-20 tokens, but Crypto.com no longer supports these tokens and no Crypto.com service or product requires or permits usage of these tokens.

The entire point of MCO was to enable use of Crypto.com services and getting better rates, access to their debit cards, etc.  Without that... there isn't a use case for MCO anymore.  Much like many of the tokens that were created as an experiment that didn't pan out, it seems to be languishing instead of disappearing.

I guess traders just see a price dip and think it's a good buy, without understanding the news.

My advice though, is buy CRO, not MCO!

If you do check out my link to get $25 bonus when you stake 1k CRO (prices are good right now).  It'll get you in the door for their crypto-cashback debit cards, and bonus interest rates on crypto deposits (up to 12% for stablecoins!).

http://projectjourneyman.com/cro