Sees Major Downtrend Year After Airing Matt Damon Commercial

The crypto market is full of larger-than-life cryptocurrencies that promise their investors significantly more than what the product or service could reasonably provide. Some companies have even been able to get their ads on the super bowl.

However, most crypto companies that manage to reach this level of success that is simply not sustainable for most businesses. Since they depend entirely on the volatility of the crypto market, there is still a serious chance that they could possibly lose their garnered success.

One of the most recent companies to have firsthand experience of an issue like this is, which sees an overall downtrend despite its many marketing efforts. This same had one of its ads run on the super bowl, to many people’s surprise, but ultimately led to nothing.

In fact, the company is a cautionary tale of throwing possibly millions on marketing does not guarantee success. Instead, the underlying app, products, and services on display are what really matter. And as it saw participation drop by significant amounts, could this coin really come back, and what is the cautionary tale that exists here?

How Much It Lost.

The first real issue with the current loss in the cryptocurrency’s value is the loss itself. More specifically, the fact that this cryptocurrency was able to see its market cap drop by 91% really started to shake investors. With the company, losing so much of its money in a year is a telltale sign that things are not going your way.

Furthermore, the company did not just lose its market cap, but it also saw a decline in its average trading cap. The trading volumes in a single day managed to drop to $380 million from a much larger price of $4 billion.

Was the Ad Responsible for the Drop Off?

While the ad did feature a famous actor and featured very important themes that often resonate with their audience, it was still not enough. Despite the millions that the company had spent on all of its advertising, the returns on that were much lower than expected.

Under the right circumstances, it was possible that they could have absorbed this loss. However, the pandemic kicked in, and various macroeconomic factors led to investors pulling out of the market as a whole. Therefore, it is very likely that other macroeconomic factors contributed to this downfall.

Will it Bounce Back?

Bouncing back for most cryptocurrencies in the current market is difficult, to say the least. Since these macroeconomic conditions have yet to let up on the market, there is very little that they can do. Most of the cryptocurrencies that are holding on right now simply have better products or are too big to fail.