Did Crypto Marketing Just Help Vertcoin (VTC) to a 63% Revival Pump?
Vertcoin (VTC) may have felt the benefits of a new crypto marketing strategy after the coin’s value surged 63% on Saturday night.
After Google reversed its decision to ban cryptocurrency related advertising, the Vertcoin team decided to “test the waters”. A month long ad campaign on Google and Youtube is nearing its end this coming week – but how much did it help the VTC coin price?
Vertcoin Marketing Push
As per Vertcoin’s June development update, the project website was recently given a revamp, and more focus was given to advertising. After previously having zero marketing presence on Google or Youtube, a test ad campaign was launched on both platforms. From the update:
“With most ad system now allowing some form of Crypto/Software ads, we are testing the waters. We started running ads on May 13th and are going to do a solid 30 days before we revisit and adjust the campaigns accordingly.”
The results of the ad campaign as of June 5th show 26k impressions across all platforms. Those impressions garnered 3.8K interactions, equating to a 14.6% engagement rate. The vast majority of interactions came from mobile devices (77%).
Notably, the ad campaign which directed users towards the Vertcoin website did much better than the one which was video-focused. One set of results show over 1,000 clicks going through to the website, and just 11 clicks on a Vertcoin intro video in the same time period.
Game Streaming Sponsorships
Vertcoin also state that gamers are on of their main target audiences. With the project’s focus on GPU mining, the team posit that there might be a crossover between high-end gamers and VTC miners. From the blog:
“We think there are a lot of people who have invested a good amount of money into a computer to play games. We think these individuals are wasting a prime opportunity to earn some Vertcoin while they are not adventuring around in their favorite game.”
An offer is extended to high-profile gamers to accept sponsorship from Vertcoin. More details can be found on the project’s discord channel.
The crypto space evolves quickly, but check out Why Investors Should Pay Attention to Vertcoin (VTC) from 2018 to learn more about VTC.
Vertcoin Price – VTC/USD
From Saturday night’s low of $0.481276, the value of VTC jumped to $0.786070 in little over an hour.
By 01:30 UTC the coin price had surged 63%, and volume exploded from $700,000 to $26 million in a flash. At time of writing VTC had reverted to the $0.63 range, leaving it on 30% growth overall.
Just like the surges of Ardor and WAX this week, the spike seems to have started on the Korean exchange Upbit. Over $22 million of the $26 million volume came from the VTC/KRW pair. The second most traded pair was Upbit’s VTC/BTC pair. As with the previously mentioned coins, VTC trades on Bittrex surged in line with Upbit.
Whatever’s going on with VTC right now, it probably has more to do with Korean sentiment than the recent ad testing session.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock. Chart via CoinMarketCap.