Binance releases its ad message ahead of Super Bowl

The cryptocurrency market is evolving, not just in terms of regulations and growing adoption, but in how exchanges advertise their services. The market is now highly competitive, and exchanges rush to grab the largest share of trading volumes.

Binance has joined other exchanges such as Coinbase and Crypto.com, advertising their offerings during the Super Bowl. However, unlike the latter two promoting their platforms, Binance has urged its audience to avoid ads encouraging them to invest in crypto.

Binance’s strategic Super Bowl ad

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The Binance ad was non-promotional but also strategic. The exchange posted a message from the five-time NBA star, Jimmy Butler, telling people that they should be cautious about the crypto ads they will see during the Super Bowl.

“On February 13, you’re going to hear some of the biggest names telling you to get into crypto. But they don’t know you or your finances. Only you do. Binance and I are here to tell you: Trust yourself and, of course, do your own research,” said Butler.

Binance has not invested in a Super Bowl ad, but it has invested in other sports initiatives. The exchange wants to sign Spanish football star Andres Iniesta as an ambassador. It is also the official cryptocurrency exchange for the Africa Cup of Nations (AFCON).

Exchanges fighting for dominance

The Super Bowl is the largest sporting event in the US, and with an estimated audience of at least 90 million people, exchanges are scrambling to put their brands out there. The level of crypto adoption in the US has significantly grown, and exchanges operating in the country, including FTX, Coinbase and Crypto.Com, want to grab the largest share.

Binance is currently the largest cryptocurrency exchange platform globally. The exchange’s trading volumes are significantly high than the second-largest exchange, Coinbase. It commands around 50% of the global crypto spot market.

Data from CoinMarketCap shows that during the past 24 hours, Coinbase and FTX had trading volumes of $3.49 billion and $2.08 billion, respectively, in the spot market. On the other hand, Binance’s spot market volumes were at a whopping $14.7 billion.