After what has been a challenging few weeks for crypto and blockchain gambling projects in terms of token price, there seems to be some green shoots of hopes that the market may recover sooner rather than later.
The past seven days has seen the majority of our tracked tokens take hits, but it's definitely not all doom and gloom with the likes of WINk and its $WIN token steadying its position, while the likes of 888Tron and TrueFlip have also performed well in comparison to wider trends.
TRON-based WINk has been a permanent fixture at the top of the gambling token pile in recent months, and the last week has seen it maintain its position at number two on our ladder. Seeing consistently high volume of over $2m every 24 hours, $WIN's market cap now sits at $25m, well clear of third place FunFair ($16.4m) in third. Only Bitbook Gambling keeps WINk off the top, although with smaller volume levels, it's hard to read too much into its market cap of $42.4m.
Fellow TRON project 888tron also saw an impressive weeks trading. Bouncing by almost 50% to a cap of $7.7m in the week, with a sharp 26% bump in the last 24 hours alone, the blockchain casino seems to have a growing following.
TrueFlip maintains its position on the edge of the top 10 of our tracked coins with a solid week's performance of its $TFL token. Making gains of 5% over the week and almost 20% in the last day will give the project and its followers optimism that the provably-fair casino can push on in the coming months.
Bitcoin and Ethereum have both taken their own hits this last week, although respective falls of 2% and 5% are fairly negligible in the grand scheme of cryptocurrency volatility. It's clear that should these return a consistent bull run in the coming months, altcoins could well be taken along for the ride. Management teams around the decentralised gambling space will be hoping and preying for this as they look to extend development runways to cover what's set to be a critical period for the future of decentralised technology.
The US Presidential election is also in full swing at this very moment, and there's been much speculation about how that might impact cryptocurrency markets and confidence around it. Will we see crypto mentioned in a positive light, and will blockchain prediction markets see an uptick in activity as punters look to call the next leader of the free world.