Cryptocurrency-themed ads on Telegram have grown exponentially, with some advertising companies reporting that cryptocurrency has become the most expensive type of ad on the platform in 2021.

According to a Telega advertising market report published on Thursday, the average cost per 1,000 impressions (often known as CPM) for crypto ads on Telegram in Russia has increased significantly in 2021, more than quadrupling.

The cost of one thousand impressions of such crypto ads reached 6,700 Russian rubles ($ 90) by the end of 2021, becoming the most expensive type of advertising in the Telelega market, taking over topics such as trading and investing.

Cryptocurrency ads were also among the most popular ads on Telegram in terms of total volume share, with total volume accounting for over 6% of all ads on Telega, second only to investments and businesses, which accounted for 13% and 10% respectively. . .

Study author Dmitry Kornilov told Cointelegraph that the report includes data exclusively for the Telegram advertising service and is not based on information about the official Telegram service or sponsored messages launched in November 2021.

“Customers from crypto projects are the most popular among our advertisers. Over the past six months, advertising demand has grown exponentially,” said the Telega CEO, adding that the company’s CPM calculations are based on orders going through the market.

The company said that some of the most popular crypto ads promoted on Telega in 2021 were related to cryptocurrencies, exchanges, initial decentralized exchange offers, blockchain games, including games to make money, and non-fungible tokens (NFT). Telega, launched in 2016, is an unofficial Telegram-based advertising marketplace in Russia and also operates an international advertising service. The company previously conducted a similar study in October 2021.

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The cryptocurrency industry has expanded significantly in 2021, in parallel with the total market value of cryptocurrencies, which exceeded $ 3 trillion in November. The UK Advertising Standards Authority, along with other public bodies around the world, actively monitors the site, removes many advertisements and issues warnings to large industrial companies. Regulators in countries such as Spain and Singapore have also updated their cryptocurrency-related advertising policies in recent months.

Source: CoinTelegraph