Trading Update: 10 – 16 June

Updated Jun 16, 2020 | Published Jun 16, 2020
[2 mins read]
Gambling altcoins have seen a positive few weeks trading, but the past seven days has shown to be more of a mixed bag amongst our monitored crypto casino projects. There have been some positive outliers though, in particular FunFair Technologies' FUN token and BetProtocol's BEPRO token.
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Ethereum-based blockchain supplier FunFair Technologies and its FUN token jumped by almost 15 percentage points over the past week. With one of the higher market caps on our list, this appears to be the takeaway story and could in part be attributed to more gaming activity at its partner brand CasinoFair.

The pioneering casino released the latest iteration of its popular Moon Racer promotion on the first day of this week's tracking. Tokenomic theory would imply that with a greater demand for FUN tokens for gaming purposes, in this case to climb a leaderboard for a shot at a 2.5m FUN prize pool, the price of FUN would go with it. Increased betting activity at FunFair's partner casinos also leads to greater token singe, in turn placing further inflationary pressure on the ERC-20 token.

BetProtocol's cap rise in the last week should also be noted, with a 15.2% increase moving its total valuation to over $2m. The platform has followed in FunFair's footsteps to launch its own gaming platform back in April. More recently, it released a communication stating its made promising progress with a number of new client signings. With more brands likely to onboard on the platform soon, we can likely expect this trend to continue into the medium term.

BetterBetting's BETR token and Edgeless' EDG token also saw positive bumps in the period, albeit to a lesser degree. However, relative to other tracked projects, it's likely that management teams won't be overly concerned looking at such a small time frame.

Wagerr has made significant strides in improving its project over recent weeks, and although it's seen a fall in token price over the last few days, the global sporting calendar returning to normality should turn its fortunes around.

The wider cryptocurrency trading scene has scene bitcoin fall away 3.3%, with ETH slightly worse off, dropping 5.5%. Other popular gambling tokens such as Litecoin (LTC) and Ripple (XRP) also fell away around six percentage points which confirms a downward trend from the top. This may have quietened bullish trading activity focused on the casino sector.

 

  • WINk (WIN)
    • Market Cap: $23,999,683
    • 7-day change: -14.5%
  • FunFair (FUN)
    • Market Cap: $22,405,375
    • 7-day change: +14.7%
  • CasinoCoin (CSC)
    • Market Cap: $22,198,841
    • 7-day change: -7.3%
  • Wagerr (WGR)
    • Market Cap: $5,702,381
    • 7-day change: -8.9%
  • TrueFlip (TFL)
    • Market Cap: $3,317,184
    • 7-day change: -17.1%
  • BetProtocol (BEPRO)
    • Market Cap: $2,038,214
    • 7-day change: +15.2%
  • Edgeless (EDG)
    • Market Cap: $821,546
    • 7-day change: +1.4%
  • BetterBetting (BETR)
    • Market Cap: $184,150
    • 7-day change: +8.2%
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