The Super Bowl advertisingblitz of the crypto industry is neglected

This year's Super Bowl was more than an American football game. It became a chapter in financial history when the cryptocurrency industry issued millions of dollars for television advertising with stars, which played with fear of missing the next big thing while investing.

"The luck favors the brave", it said in a commercial for Crypto.com, a stock exchange based in Singapore, in which the basketball player LeBron James as a teenager of a computer -generated version advised: "If you want to write history, you have to call your own recordings".

Two months later, discretion on the markets for Bitcoin and other leading cryptocurrencies turns out to be the better part of bravery. Trade developed in the weeks after the Super Bowl advertisingblitz, since basic factors-from rising interest rates to war in Ukraine-have weakened the animal mood of investors.

"After the Super Bowl advertisements, we did not see a massive influx of small investors in crypto," said Noelle Acheson, head of the market insights into Genesis Trading, a broker based in New York for digital assets that claims to have handled $ 116.5 billion in spot crypto last year. "The volumes are low due to the enormous uncertainty in the markets."

The exact measurement of cryptocurrency activity is difficult due to the large number of trading places around the world, which are subject to a low or official supervision and produce data from uncertain reliability. Analysts like Acheson rely on their observations on the commercial figures reported by larger, more well -known stock exchanges that are considered more trustworthy.

Such measures indicate a significant decline in commercial activity in recent months. The Block Legitimate Index, for example, shows that the Spot cryptov volume has remained under $ 1 trillion dollars every month after this number exceeded this number in nine of the 12 months of 2021. In March, the month after the Super Bowl, the index showed $ 739 billion out of activity, compared to $ 2.2 trillion in May last year.

The prices have decreased together with the trading volume. Bitcoin fell from almost $ 69,000 in November to just over $ 33,000 in January. Since then it has risen between around $ 36,000 and $ 47,000 on most days.

For cryptics experts, the latest market campaign indicates that larger investors and not private customers take the lead. Digital assets are increasingly used to spice up the portfolios of larger players and take a place next to other “risk assets”. When these investors become cautious, reduce your crypto stocks and use the trade in digital assets that take place around the clock to make your exits.

"Because Bitcoin was considered a risk system by many of the great macro investors - it is a high volatility, a feature, no mistake - then it is treated like a risk system," said Acheson. "If these large funds have to reduce risks, Bitcoin is a very liquid asset with high volatility that is traded around the clock so that it is relatively easy to sell."

Chris Zühlke, partner at DRW, a trading company in Chicago, and global director of the company's cryptocurrency branch, Cumberland, said that he sees two groups of investors who compete against each other at the cryptom market this year. You sell in turbulent times, as would be the case with other investments in promising technologies. The other buys the dip and represents the view of the original supporters of cryptocurrencies that they could serve as protection against the moods of the Fiat currencies and the governments they could supervise.

"Part of the world sees it as a risk system and acts similarly to some of the growing technology shares," he said. "Another part of the world sees it as a risk-off or as a risk-hedge asset, as a value preservation means. In my opinion, this between these two camps has defined the range in which we have been sitting in the past few months."

Another manifestation of the increasingly important role that large investors play on the cryptom market is the increase in complicated trade strategies for derivatives. In March, Cumberland announced that tailor -made out -of -the -counter options were "in a number of coins". Ziehlke said that "vanilla options are interesting for people, but will quickly pass into more complex structures."

It is a fascinating fate for a pop -cultural phenomenon. Even if cryptocurrencies become a substance for super-ben advertising-such as cars, beer or Hollywood blockbuster-the trade in these digital assets is becoming increasingly difficult for average citizen to understand.

Additional reporting by Adam Samson and Joshua Oliver in London