CashBet Coin was most notable for its high profile sponsorship of English Premier League team Arsenal back in 2018.
CBC was also successfully integrated as a payment method for players on igaming giant Greentube’s social casino platform, GameTwist.
But while there had been little movement on the coin’s price over recent months, its value has surged over the past couple of weeks. In July alone, the market cap of Casino Betting Coin almost trebled (up 180 percent), closing the month at $4.5 million.
Casino Betting Coin announced on Twitter last month that it was rebranding to its new name to reflect “the coin’s test and proven utility in the iGaming environment”. It also promised “big announcements” soon.
But what may well be getting speculators excited is the announcement in March that Greentube – the online division of one of the world’s largest gambling companies, Novomatic – had acquired the majority of the CBC cryptocurrency as well as the underlying technology.
Greentube undoubtedly has the resources and expertise to roll out blockchain technology on a scale not yet seen within the gaming industry. Investors appear to be betting that CBC could be at the heart of such a move.
While Greentube has been silent on the issue since it acquired a majority of CBC in March, investors will be watching closely.