Make no mistake, crypto gambling coins have suffered during the 2018 bear market. But there are signs of a recovery after a strong week across the board.
Several gambling alt coins have added 25 percent to their market caps over the past seven days.
The bounce is likely linked to the ongoing developments of projects which fundraised in 2017 but are now finally bringing products to market.
Leading the way is Peerplays, which is behind BookiePro.fun, a decentralized sports betting exchange currently in public beta.
Peerplays (PPY) added 67 percent over the last week to $2.12 and a market cap of $9.5 million and is well placed the full launch of BookiePro, which is expected later this year.
Also enjoying a strong week was All Sports Coin (SOC), up 63 percent to $0.019452 and a market cap of $28.5 million.
All Sports price hike is likely driven by a recent integration with Sportsbet.io, one of the world’s most established crypto sports betting sites. Users can now wager on Sportsbet.io in SOC coin, providing real-world utility to a coin that has become part of the All Football ecosystem, which boasts around five million users.
Established names enjoy strong week
FunFair (FUN), still crypto gamblings most valuable project by market cap, was up 22 percent for the week to $0.0173 and a market cap of $86.5 million.
FunFair founder Jez San said in a Q&A earlier in the month that two casinos were “prepping to go live” on the FunFair platform. He also said the company was “fairly confident” of getting at least one of a Gibraltar or Malta gaming license.
Edgeless (EDG), another of the early crypto gambling projects, was up 13 percent giving it a market cap of $26.7 million, and is now live with dice, blackjack and baccarat games.
The company said that around 2.5 million EDG ($700,000) is being wagered each day.