The price of CasinoCoin has surged more than 200 percent in the last seven days, with its $CSC coin now challenging FunFair’s $FUN as the most valuable gambling-focused altcoin by market cap.
CasinoCoin has been trading as high as 16 sats on exchanges including STEX at time of writing, giving the coin a market cap of $31 million – not far off FunFair’s $34.7 million market cap.
Just one week ago, CasinoCoin was trading at an implied market cap of around $9 million, marking a roughly 250 percent return for those holding the coin.
At time of writing, CSC was listed at number 7 on CoinMarketCap.com’s list of highest gainers, and was the 135th most valuable cryptocurrency listed on the site.
The surge has been accompanied by a significant increase in volume, with around $350,000 in CSC traded over the past 24 hours.
The CasinoCoin Foundation recently added Richard Cammegh, managing director of roulette wheel manufacturer Cammegh, to its advisory board as part of a strategic commitment to introduce blockchain technology to casino floors.
CasinoCoin is built with the regulated online casino industry in mind, with a set of features and tools customised to meet the needs of users, operators and regulators.
It operates its own blockchain, which uses a modified version of the Ripple code.