The crypto bubble has finally burst
A year ago, the crypto world celebrated the supposed rise into the mainstream. Today she is further away from that than ever before.
If you want to know how deep the crash of the crypto world was, you should look at the TV advertising for the Super Bowl this year and last year: The comparison illustrates how an entire industry was disenchanted and in some cases collapsed.
The NFL final is the biggest sporting event of the year in the United States. A 30-second commercial costs around 6.5 million dollars. That’s why it was an exclamation point that the crypto world set last year: Four companies from the industry switched to advertising – Coinbase, Crypto.com, Etoro and FTX. This earned the Super Bowl 2022 the nickname “Crypto Bowl”.
52 weeks later, the market value of all cyber currencies has collapsed by almost 50 percent, various crypto projects crashed, a former star was arrested, companies fired employees in droves, and investors withdrew around 1.4 trillion dollars from the market at its peak.