From Cointelegraph

April 12, 2025 11:57 PM:

Crypto gaming and gambling campaigns are the most expensive way to acquire users with existing crypto wallets, costing $8.74 per wallet on median. Users with wallets are more likely to convert to crypto products, but high churn, speculative behavior, and competition contribute to the high cost. DeFi/CeFi campaigns are more cost-efficient with a median CPW of $2.79.

During bull markets in 2024, CPW in the US and Western Europe increased significantly between Q1 and Q3 as interest from crypto wallet holders decreased. Premium markets experience low-cost conversions during bull runs but become more expensive during market downturns. Emerging markets like Latin America and Eastern Europe offer low CPW but can experience extreme cost volatility.

Read more at Cointelegraph: Crypto gaming and gambling ads ‘most expensive’ for onboarding users