Coinbase’s Shares See High Volatility After Super Bowl Fiasco

Coinbase’s shares see high volatility after the Super Bowl fiasco that occurred from the ad campaign of a free BTC giveaway during the NFL finals so let’s read furhter in today’s latest coinbase news.

The popular exchange of Coinbase’s shares saw a surge as the markets opened today after bringing millions of new users after the Super Bowl ad campaign on Sunday. Coinbase was trading 5% down on Nasdaq over the weekend but the stock Is back up 3% as of Monday and it is trading near to $200.

The movement came following a successful Super Bowl ad campaign from the exchange where it competed against other ads from crypto companies like FTX and Crypto.com. The ad announced $15 in free BTC for anybody that will join the platform before February 15^th. This promised a  sure return compared to the FTX’s similar giveaway of 7.54 BTC to just 4 lucky winners.

The incentive proved to be too effective to handle as It sparked 20 million visits on its landing page in only a minute after the ad aired which caused the company’s site to crash. The finals featured the LA Rams and the Cincinnati Bengals starred Odel Bechkam Jr who recieved his salary in BTC last year and the player managed to score the first touchdown of the match but was later removed due to an injury. His efforts were enough however because Rapper Drake bet on Ram’s victory and won over $300K in BTC bets on the match.

The cryptocurrency exchange opted to use its 60-second window and display a QR Code which bounced around a black backdrop like an old DVD player screen saver. Scanning the QR code brought you to Coinbase’s site where the users got $15 in free BTC while existing users could sign up for the $3 million sweepstakes. Coinbase’s advertisement stood out from the typical productions like other companies including the one commercial by FTX starring Larry David. Coinbase’s commercial has actually been too effective as many users reported that they were unable to access Coinbase’s site or app because of the overwhelming demand on the web servers.

The Ad drove people to the site and has already racked up a huge accolade as well. This morning, the Clio Awards announced that the panel of judges that include crypto and NFT enthusiasts like Gary Vaynerchuk and Mark Cuban picked Coinbase’s ad as the best on the Super bowl.