The gradual adoption of cryptocurrencies is driving the evolution of companies in the digital asset value chain. This is the case of Crypto.com, which has just reached a symbolic stage in its growth.
strong growth
The Crypto.com exchange recently announced that it has officially reached the token that has 70 million users worldwide. Despite the rapid growth alcohol market. In fact, the platform had 50 million users last May and 10 million in February 2021. An announcement added that it had already peaked in revenue at more than $1 billion this year. It’s worth noting that the crypto service provider already posted a similar feat last year.
The 70 million users represent subscribers of the exchange platform, e-wallet and subscribers of other crypto services. The CEO of a Singapore-based company Satisfied reach this stage. He pointed out that there is no better time to develop the market than it was during alcohol market.
The critical role of sport in the development of Crypto.com
This growth of Crypto.com is largely explained by its marketing strategy, which is largely geared towards the sports world. In recent years, the company has signed many agreements with many franchises in the world of football, basketball, etc.
“Our sports marketing partnerships have been pivotal in raising awareness of Crypto.com and contributing to our exponential growth over the past two years (…) these efforts will continue to be a focal point of our marketing strategy going forward.”said Stephen Kalevowitz, director in charge of the company’s marketing arm.
Among other things, The Crypto.com Arena, home of the Los Angeles Lakers, Clippers, Kings and Sparks, has been renamed as part of a 20-year, $700 million deal.
The eye-catching sports trading at Crypto.com was particularly marked during the market rally. Officials at the Singapore-based company plan to continue investing in the marketing sector. This should lead to the development and adoption of platform services. In all, crypto companies committed $2.4 billion to sports marketing in the span of 18 months.
Get a summary of the news in the world of cryptocurrency by subscribing to our new service Daily and weekly so you don’t miss out on any Cointribune essentials!
Far from dampening my enthusiasm, an unsuccessful investment in a cryptocurrency in 2017 only added to my enthusiasm. So I resolved to study and understand the blockchain and its many uses and pass on my pen information regarding this ecosystem.