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Coinbase Sponsored Video Promotes Dogecoin amongst other Cryptocurrencies

Mr. Beast’s YouTube videos often go viral for days, garnering millions of views and responses. Coinbase Global recognizes this effect and has funded a new Mr. Beast video as well as started a marketing scheme to capitalize on it.

Mr. Beast’s video “Last to Leave Circle Wins $500k” was accompanied by a Coinbase-sponsored promotion.

Mr. Beast highlighted how to register for a Coinbase wallet and some of the digital currencies available on the trading network as part of the promotion. Everyone who registers with the Mr. Beast campaign promotion code will receive $10 in free Bitcoin from the network.

Content and Effect

Major Dogecoin enthusiast’s YouTube channel “Last Stand by Matt Wallace” emphasized the significance of Coinbase utilizing online celebrities and how it might improve Dogecoin‘s value. “There should be so much excitement because of the specific facts stated in the YouTube upload,” Wallace explained. In the upload by Mr Beast, he highlighted 3 digital currencies on the network; Bitcoin, Ethereum and Dogecoin. “He skipped over the remaining major 10 digital currencies” – Matt Wallace said

Wallace thought it was fantastic that Coinbase got out to Mr. Beast in order to get individuals invested in bitcoin. As of when Wallace’s video got uploaded, the Mr. Beast video received 6 million watches in 6 hrs. Mr. Beast is one of YouTube’s top accounts, with 67.7 million followers. The upload has 17.0 million watches and is the hottest new upload  on Alphabet Inc.’s YouTube channel.

Wallace suggested that Coinbase contact additional influencers. Based on Mr. Beast’s highlight of the three major digital currencies, Wallace projected that “Coinbase would add Dogecoin in those uploads.”

Doge price chart. Source: Tradingview.com

Dogecoin is now moving at 7.7 percent more than $0.30 at the time of publishing. Coinbase recorded $2.03 billion in profits and $462 billion in traffic rate in the q2, its first ever having Dogecoin on the system.

Coinbase Updates

After the market closed on Tuesday, Coinbase Global disclosed profits. Coinbase announced $2.03 billion in profit for the q2. The sum surpassed the $1.77 billion average forecast on Wall Street. In the initial quarter, the platfoem reported revenue of $1.6 billion and in the q2, the profit figure was $1.6 billion.

Coinbase recorded $462 billion in transaction activity in the q2, up from $335 billion in the previous . As per the business, there are 8.8 million monthly transactional customers and 68 million confirmed traders. In Q2, Coinbase also recorded over 9,000 organizations as users .

In the q2, the business emphasized illiquidity and debut digital currency values. And also, large institutional clients entered  the Coinbase community. As per the business, 10% of the top 100 largest investment firms by trading under administration have joined Coinbase. The firm also stated, “in current  months, we have forged collaborations with market heavyweights such as Elon Musk, PNC Bank, SpaceX, Tesla, Third Point LLV, and WisdomTree Investments.”

Coinbase’s global expansion may persist. The firm has joined with Japan’s local authority and will be permitted  to attract clients and provide crypto services in the nation. Japan has the world’s third-largest market. Coinbase also acquired a commercial permit in Germany and is the only firm to be granted this authorization. Germany has the second-highest number of Bitcoin miners in the world.

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