Kay Takeaways:
- One of the leading crypto exchanges Crypto.com aims to make it into the top 20 consumer brands in the upcoming years, and become a household name, along with brads like Adidas, or Apple.
- CRO, the platfom’s native token, flashed bullish signs on the daily chart.
YEREVAN (CoinChapter.com) – Crypto.com has spent hundreds of millions on advertising campaigns in Q4 2021. The cherry on top of the exchange’s efforts was purchasing naming rights to the iconic Staples Center in downtown Los Angeles.
However, the Singapore-based cryptocurrency platform has no intention to stop there. The exchange booked a commercial during NBC’s Superbowl broadcast on Feb 13. In hindsight, the Superbowl attracted over 96 million viewers in 2021, which was a record low since 2007, while the average cost for a 30-sec advert ran up to $5.6 million.
Steven Kalifowitz, Crypto.com’s chief marketing officer, assured that the billion-worth of advertising is about facilitating crypto adoption.
Crypto genuinely is for everybody… Going into different sports just allows me to reach everybody where they are. Super Bowl is just one more step into that, where it’s as mass as you get.
said the executive.
Moreover, the company’s CEO, Kris Marszalek asserted, that he aims to make Crypto.com a household brand alongside giants like Nike and Apple.
Also read: Crypto.com Chain wipes out weekly gains as CRO price drops over 30% in two days.
In the meantime, the exchange’s daily trading volume rallied almost 140% in a month and stood at $4.45 billion on Dec 29. Additionally, CRO flashed a bullish setup on the charts despite the 22% month-to-date decline.
CRO daily chart
The crypto trading platform’s native token gained 270% throughout November and formed a Falling Wedge in the following month. The latter consists of two trendlines that drive the price down while lowering its swing as the formation progresses. The Falling Wedge is bullish and predicts a breakout after the token exhausts the setup.
Also read: Crypto.com’s marketing tactics send CRO prices doubling in just a week.
CRO broke the pattern’s resistance on Dec 22, but the rally halted as the token lost 10% on Dec 29. As of the New York session Tuesday, the CRO/USD exchange rate stood at $0.56. The digital asset could retest the support trendline relevant since early November and continue the uptrend.
