The top 10 gambling tokens by market capitalization have seen a drop in prices of 8.86% in the last 24 hours. The largest token, Rollbit Coin (RLB), has suffered a 10% decline. CHANCER, the cryptocurrency of a decentralized betting platform, is gaining popularity, even in its pre-sale stages.
The CHANCER pre-sale has buyers interested. The current price is $0.012 and will rise to $0.013 in the next stage.
So, why the hype about Chancer? The project is on the verge of pioneering the world’s first decentralized social betting platform. This groundbreaking innovation is a must-see. Chancer Token holders will be able to create and participate in wagers that are tailored to their interests and expertise, as well as build social connections.
The main objective of the project is to change the gambling and betting landscape by eliminating traditional methods of gambling and claiming a share of the market. Chancer is gaining widespread attention and will likely challenge the existing bookmaking business model. Its betting mechanisms encompass two distinct approaches: conventional betting – placing bets on popular events like NBA games and global occurrences (like elections) – and social betting (P2P Betting) – allowing individuals to engage in friendly competitions, such as two tennis players facing off or a weightlifting contest.
Social betting, one of the most popular methods, is made easy with Chancer’s standout features, allowing people to bet on any verifiable event. The team has focused their initial efforts on private bets, which are only available to the bettors and their additional participants. The next step is to focus on public bets, which can be live streamed. The team is currently working to validate data using nodes, meaning individuals can now bet on global sporting events, such as the NBA match, with a transparent outcome.
The user interface team has completed the work on user profile, allowing bettors to easily engage in public and private contests. Additionally, the social sharing features powered by Google’s WebRTC technology enable Chancers to broadcast their bets to the world and create viral trends. Anyone who meets the minimum requirement of liquidity to match their odds is eligible to play. The team showcases their progress in the website’s product page and has announced a range of upcoming features.
Spotonchain reports that a whale swapped 2,56M RLB tokens today for 191.6 $ETH ($313K), at $0.12, after the RLB’s price had dropped by 10% within 24 hours. The Whale then swapped 193.31 WETH and 192.4 ETH for 493.14 $MKR, at an average of $1,278 ($630K).
Despite the recent RLB price drop, analysts see potential for an upward movement due to Rollbit’s robust performance, notably in its casino revenue segment, as indicated by the insights of the prominent Twitter analyst, Miles Deutscher. There is also the untapped potential of futures and sports related revenue.
Deutscher reported the growth, noting that the site has amassed an impressive 1.35 million dollars in casino revenue in the past 24 hours. This is gaining increasing traction on the market, and this extraordinary revenue generation bodes very well for its future. He pointed out the remarkable resilience of RLB’s casino revenue, which has not only compensated for the low volatility seen in the crypto markets but also proved to be consistently lucrative.
Deutscher also noted that the burning of RLB tokens has reached unheard of levels. Over the last month alone, tokens worth $5.6 million were incinerated. Token Burning is a strategy used by crypto projects to reduce the supply of tokens, increasing scarcity and potentially their value. This suggests that RLB has a robust ecosystem and a robust demand.
