At the peak of the ICO bubble it was a common tactic for project promoters to use big name announcements to pump their tokens. Every day we would hear about a new venture that supposedly signed a partnership with a global brand such as Microsoft or Google, to make us think that these tech giants were backing the idea. In reality most of the time it was just a trivial matter such as allowing the project to use free services from the tech giant, as countless other startups do. The tactic is still used today and crypto investors need to keep in mind that it is not a guarantee for success.
Big Name Pumping
As if crypto investors have learned nothing over the past few years, some project promoters continue to try and push their tokens with announcements about big name partnerships. These normal business agreements can be used sometimes to hint, insinuate or even predict a price rise of a related token in an irresponsible way. Companies and startups make a lot of agreements to cooperate with one another and these are not a guarantee