Cryptocurrency has a prominent place during the most-watched sports events in the US, with millions of viewers watching many crypto-themed commercials.
But the festivities did not translate into digital assets’ valuations, which were – much like those of stocks – in red in London morning trade, as markets reacted to tensions at the Ukraine-Russia borders.
A running list of crypto-related super bowl commercials:
(A thread, not in order)
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— Jack Niewold (@JackNiewold) February 14, 2022
Meanwhile, Ethereum fees dropped below $3 per tranaction – to the lowest level since 28 July, according to data from on-chain analytics firm, Santiment.
“With Ethereum dropping back below $3,000, the demand to make ETH transactions has stayed relatively low… Low fees typically maximise the chances of a bounce.”
The biggest altcoin was trading around $2,800 – $2,900 mark in London morning, and some 70.7% below its all-time high recorded last November. ETH was down 1.81% over the last 24 hours, and 6.63% over the last week.
Quote of the day
Former CIA agent and whistleblower Edward Snowden commented on Coinbase Super Bowl commercial, after the cryptocurrency trading platform’s website crashed immediately after its Super Bowl ad was on air.
The cryptocurrency exchange aired a bouncing QR code for 60 seconds for some $13m. The code was meant to take the user to a page where they can sign up for a Coinbase account.
Coinbase chief product officer Surojit Chatterjee tweeted about the website crashing, saying that the exchange had 20 million hits on the landing page in one minute. “That was historic and unprecedented. We also saw engagement that was six times higher than our previous benchmarks.”
Snowden wrote:
“Coinbase spending $16,000,000 on a Superbowl ad to direct people to their website and $0 to make sure that website doesn’t crash 10 seconds after the ad starts is so very internet.”
Top cryptocurrency coins by market capitalisation
As of 10:30 GMT:
Winners and losers
- The biggest weekly gainers among the main cryptocurrencies were Elrond (EGLD), Unus Sed Leo (LEO), and Shiba Inu (SHIB), gaining 11.63%, 11.78% and 7.42% respectively in that period.
- Near protocol (NEAR), helium (HNT) and solana (SOL) were the biggest weekly losers among the major cryptocurrencies, giving up 22.90%, 21.98% and 20.28% over the last seven days
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