Cryptocurrencies have been struggling due to low demand since the beginning of July. Most coins like Bitcoin, Ethereum, and Ripple have been consolidating as the fear and greed index has remained at the neutral point of 50.
However, some investors are still taking advantage of emerging trends. Chancer, a blockchain project aiming to disrupt the sports betting industry, has raised over $1.2 million in the past 30 days.
So what is Chancer? The sports betting industry is a major one, with companies like DraftKings, Flutter Entertainment, and Entain having market caps of more than $14 billion, 26 billion, and 8.93 billion pounds respectively. Regulations have been favorable in many countries, and Chancer is utilizing the blockchain technology to offer a platform with additional features, such as allowing $CHANCER holders to create markets. The white paper of Chancer reads “These tokens not only grant you the ability to create markets but also provide an opportunity to invest in markets created by other individuals. By holding $CHANCER tokens, you have a direct stake in our platform’s triumph.”
Chancer will be highly decentralized, transitioning from a centralized platform to a decentralized autonomous organization (DAO). This DAO will set rules, add integrations, and make key decisions. Moreover, Chancer users will be able to share the profits made by the network.
The Chancer token is up for sale and is likely to do well with listings on Binance, Huobi, and OKX. The fact that the token has seen demand during the pre-sale period, despite the fear and greed index being in the neutral phase, is testament to this.