Whether they are fans of American football, cryptocurrency enthusiasts will be looking forward to next Sunday’s Super Bowl. This is because the world’s most-watched event will feature three of the world’s most prominent cryptocurrency exchanges.
Crypto.com will make an appearance in an advertisement starring Matt Damon. Binance will be present during the event with a promotion to the necessity of researching and investing with one’s own head. Sam Bankman-Fried from FTX and the paintings of Coinbase and Bitfury will feature too. The game, which will occur on Sunday 13th February, will pit the Cincinnati Bengals against the Los Angeles Rams. Around 100 million people will watch the Super Bowl, second to the football world cup finals in terms of attendance.
The Super Bowl will undoubtedly continue to shine its light on the entire cryptocurrency industry. However, it advises ill to follow those who claim that this event is a catalyst for a mini bubble inside the sector. The event will be almost inconsequential to the cryptocurrency industry, which is currently dealing with far more critical concerns.
Super Bowl Unlikely to Trigger Purchases & Sales
This is because people have known about the bitcoin exchanges’ involvement in the Super Bowl for months. The information about their involvement was widely available on the internet globally. If traders believed the rumors, these transactions should have occurred weeks ago. This is most likely didn’t happen, seeing that the market appears highly impervious to both good and negative news. In the last couple of weeks, the market has been incredibly resilient.
More than a Super Bowl Week
This, too, suggests that the Super Bowl will have a minor influence on the cryptocurrency market in some way. We are anticipating crucial inflation figures from the world’s major economies.
In addition, on the Monday after the Super Bowl, the US Senate will hold a hearing on stablecoin. This hearing is generating more interest than the Super Bowl commercials next Sunday. Stablecoins are important because they will explain what the US government can and cannot do in relation to them.
Conclusion
At least for the time being, American football should see as a passing novelty. In the end, it’s still a sporting event, not an important milestone for the cryptocurrency sector or Bitcoin. This is considering the current and prospective advancements of sports and cryptocurrency over the last few weeks.
“The opinions Avoiced in this Cryptocurrency news article are solely those of the individuals quoted or interpretations of the author. These opinions & interpretations are not necessarily endorsed by Your Crypto Banker or its subsidiaries.”
