Trading Update: 22 – 28 July

Updated Jul 28, 2020 | Published Jul 28, 2020
[3 mins read]
Major jumps for bitcoin, Ether and TRON in the last week have translated sporadically into gains for our tracked gambling altcoins. Significantly, FunFair has jumped from third to first place in terms of market cap, overtaking both CasinoCoin and WINk.
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Crypto traders should generally be happy after last week's movement has seen the prices of BTC, ETH and TRX all rocket up. Bitcoin broke through its $10,000 ceiling to rise 17.7% in the last seven days. Seeing highs of over $11,000 recently, it has now dipped slightly but seems to be maintaining. ETH, despite persistent gas price issues on the network, outperformed bitcoin in terms of percentage gain, with a huge 32.5% weekly jump.

The correlation between the major cryptocurrencies and our tracked gambling altcoins is ever-changing, but the recent positive gains seems to have had contrasting effects on the likes of FUN and CSC. CasinoCoin has seen major wins in recent weeks, climbing to the top of this ladder two weeks ago, and a correction seems to have now come. Saying that, it's current market cap still puts it in a positive position in relation to the last year.

Land of the rising FUN

The standout performer this week has been FunFair Technologies. The Guaranteed Fair operator of casinos, such as CasinoFair and Crypto Casino, has seen its FUN token price rocket by 21.6% to a market capitalisation of almost $30m. Significantly, this week saw the Ethereum-based project's Q3 update released, which was then followed up by a team-wide AMA. It appears that announcements about diversifying its products into new markets and a confident approach to dealing with persistent gas issues has been met in a positive light.

FunFair has always acted transparently with its community where possible, and despite this causing greater interrogation at times, the team has now delivered on the majority of objectives it has set out to over the last year. It now seems that its own, and the wider trading, community are now backing it to continue delivering on its promises, which can only be a good thing for the project runway and its partner casinos.

TRON-based casino WINk saw a steady week of trading of its WIN token, finishing roughly where it started, and this will be music to the ears of its management team and Justin Sun, who have both experienced a rocky few weeks dealing with the brand. The recent TRON 4.0 announcement and a further AMA last night seems to have steadied the ship. There's no doubting the quality of the WINk platform and its staking ecosystem, so with a bit more clarity and transparency around the project, we should probably expect to see an upturn in the coming weeks.

TRON itself jumped 7.5% this week, and players who would like a more conventional gambling approach can utilise TRX's success and speed of transactions at various other crypto casinos, including Bitcasino.io and FortuneJack.

It was a mixed bag of results elsewhere, with steady bumps for BETR, TrueFlip and Wagerr tokens, and the latter will be hoping to see a lot more revenue on its decentralised sportsbook in the coming months. The recent sporting shutdown has been a big hit to revenue, but with a better platform and busy sporting calendar on the horizon, Q4 may be the time that WGR shoots to the moon.

 

  • FunFair (FUN)
    • Market Cap: $28,613,060
    • 7-day change: +21.6%
  • CasinoCoin (CSC)
    • Market Cap: $27,159,465
    • 7-day change: -16.5%
  • WINk (WIN)
    • Market Cap: $24,522,233
    • 7-day change: +1%
  • Wagerr (WGR)
    • Market Cap: $6,849,030
    • 7-day change: +9.5%
  • TrueFlip (TFL)
    • Market Cap: $2,701,443
    • 7-day change: +6.5%
  • BetProtocol (BEPRO)
    • Market Cap: $1,399,949
    • 7-day change: -21.1%
  • Edgeless (EDG)
    • Market Cap: $960,936
    • 7-day change: -0.6%
  • BetterBetting (BETR)
    • Market Cap: $158,463
    • 7-day change: +5.3%
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CGN senior journalist 

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