The cryptocurrency market in East Asia is undergoing a tremendous surge even as institutions adopt crypto in South Korea and Hong Kong. Well, a report by Chainalysis submitted that South Korea was leading in the adoption of crypto, holding $130 billion in on-chain value. On the other hand, Hong Kong is easily adopting crypto because of its unique regulatory framework.
As these adoptions are going on, the popularity of Bitcoin and other altcoins is steadily gaining regardless of various setbacks. For example, Ethereum is still among the most influential cryptos, trading at a market cap of $276 billion as of September 19, 2024. Additionally, experts predict that it might even reach $5,000 before the end of 2024. Even though the token is currently on a bearish trend, the broader market’s Ethereum price prediction 2024 2024 is set for a strong recovery within the year’s Q4.
Actually, Cryptonewz suggests that ETH will be at $5,000 by the end of 2024 and might even hit $6,500 in 2025. Well, the report by Cryptonewz is quite optimistic, speculating that the token might reach $20,500 in 2030. It is not to say that this is possible or impossible, but, we are all looking at the market and the various things being introduced that are making this optimism not to seem so far-fetched.
Global growth of the crypto market and growing trends
Well, as of the day of this writing, the global cryptocurrency market cap stands at $2.24 trillion, a 100.67% change within the last year. Bitcoin still dominates the market, having a 54.73% dominance. But you would be wondering, what is driving such growth? Actually, Grand View Research estimates the growth rate between 2023 and 2030 to be 12.5%.
It would only be fair to say that one of the most important aspects that are driving the growth of the crypto market globally is marketing. Just so you know, within the market, there are a number of trends that are rising up, promoting the popularity of crypto all around the world. Here are some of them.
The integration of AI
This just had to be part of our trends for crypto marketing in 2024, artificial intelligence crypto marketing. According to a piece by the Medium, AI marketing is steadily advancing in the crypto world and making revolutions by coming up with strategies that:
- Enhance user engagement
- Optimize advertising spend
- Refine market analysis
With AI marketing, companies are able to analyze vast amounts of data, in order to predict market trends, make the right campaign messages for audiences and find the right audience without missing a beat.
AI has come up with variety of tools that are being used in various marketing campaigns. If you are yet to see this, Binance in 2023 integrated an AI-driven chatbot, powered by ChatGPT tech, known as Sensei. This chatbot has actually caused an increase in customer engagement and faster response times, which ultimately has led to higher conversion rates.
Crypto influencer marketing
You cannot argue that influencer marketing is not a major force in the marketing world. Actually, statistics show that 92% of marketers believe that influencer marketing produces the results it promises. Just to stamp this fact, a report by Charleagency stated that 69% of consumers believe the recommendations that influencers give them.
Due to such stats, the cryptocurrency industry has seen a number of influencer marketing agencies coming up in the last few years. Companies like Coinband, iCoda, HypeFactory, NoGood, etc. have been instrumental in helping crypto exchange platforms reach more clients.
Actually, Binance, one of the world’s biggest crypto exchange platform, has an affiliate program that allows the company to tap into the audiences of influencers. These crypto evangelists, as they are commonly known, have huge followings as well as deep knowledge of the crypto ecosystem.
Press release and media outreach
This might come as a surprise to you, but did you know that traditional PR tactics are still making a massive impact in marketing? Actually, a report by Early Stage Marketing stated that 68% of companies reported that their brand visibility improved because of press releases. As if that’s not enough, a further 84% of businesses consider press releases as a great tool to release their company news.
You see, press releases build the brand credibility of a company. As much as crypto is making headway globally, so many people do not have a good idea of what it is and thus they are hesitant to invest. Actually, a study by Pew Research shows that 75% of Americans who have heard about crypto are not yet confident in their reliability or safety. With media outreaches, potential customers are able to see what is happening in your company, and you are able to explain how some things work.
In addition to credibility, press releases boost your SEO by being indexed by major search engines. With proper use of keywords to target specific audiences, you are able to increase traffic to your website. This is exactly what crypto marketers are doing.
In conclusion
This is it, the global crypto market is making major strides and you can be sure that within the next few years, cryptocurrencies will be used in almost all industries. In a bid to reach this goal, marketers are doing their best to enhance their marketing campaigns and bringing more people to the knowledge of crypto.
