Value Of Casino Cryptocurrencies Hits $161 million
The Rise Of Cryptocurrencies
The research is based on a new tracker that correlates real time insights and data and provides this information to the casino industry based on the use of gambling-dedicated cryptocurrencies. According to this data, the cryptocurrencies currently used in the casino industry have a combined value of $161.83 million.
According to the data accumulated by the tracker, the most valuable gambling-dedicated cryptocurrency currently is $WIN. $WIN is used by decentralised casino WINk and has a current value of $35.7 million. WINk grew alongside its predecessor TRONbet and has developed to be one of the world’s top DApp platforms. It offers players a blockchain-based casino that spans various ecosystems in one consolidated entertainment platform. Currently there are four other gambling-focused cryptocurrencies other than $WIN that also have a market capitalisation value of over $10 million.
Trading Of Gambling Cryptocurrencies
These casino cryptocurrencies have recently been a popular choice for crypto traders due to their high growth potential. Many traders are now investing large sums as they look to maximise on this potential as the gambling sector consolidates on these currencies. Investors are currently trading in excess of $3 million each day across the range of gambling-focused cryptocurrencies. This as the number of players who play at blockchain casinos every week is estimated to be at more than 30,000.
One of the most frequently traded gambling-dedicated cryptocurrencies is FunFair Technologies’s $FUN token. This native digital token allows players into the FunFair gaming ecosystem. These betting chips can be used to play the various FunFair casino games on offer and make in-app purchases, while developers are also offered the cryptocurrency as a reward for development of games.
The fun token utilises the Ethereum blockchain which makes transferring FUN tokens between wallets quick and easy. On the 22nd of June 2017, the creation of FUN tokens ceased, meaning that all FUN tokens are now in existence. There are however FUN tokens still held by FunFair which are being released over an 18 month period.