Solana becomes more popular on Cloudbet

Cloudbet players choose Solana due to its speed and affordability

Solana is currently being widely used on Cloudbet, which is a well-known crypto casino and sportsbook platform.

People are more interested in Solana than ever because of what it can do, such as its transaction rate which is 46 times faster than Ethereum.

Cloudbet reported a surge in Solana transactions. This trend started in late 2023 and has continued until May 2024. Solana transactions have been rising by 27.85% on average during each month in 2024. The highest surge was recorded in March-April 2024 when the price of Solana shot up to $190-$200. Back then predictions indicated it could hit or even get higher than $270. This year also saw significant rises in January and February respectively.

This surge reflects an increased interest in Solana by Cloudbet players who prefer it due to its speed and affordability. Apart from that, Cloudbet has also launched a Rewards Program allowing individuals to earn rakeback rewards using USDT tokens thereby further increasing the number of Solana transactions on the platform.

According to a CloudBet spokesperson: 

“When we first noticed the uptick in Solana usage on our platform, we assumed it was just following the currency’s market value. But we found increased adoption was driving Solana’s value, not the other way around. So, where are all these new Solana users going, and what are they doing with their digital assets? Interestingly, we’ve seen a lot of Solana users betting on soccer, with just as many in the casino lobby. Following closely behind, we’ve noticed traffic from Solana users placing bets on basketball and tennis.”

On top of being transparent about fees, CloudBet ensures clients pay gas fees applicable only within their network of choice without any additional charges during deposits and withdrawals. This makes Cloudbet user-friendly and coupled with multi-cryptocurrency support the platform is often a preferred option among those who love the Solana ecosystem and plan to bet on the NBA Finals, UEFA Euro 2024, and Champions League finals, among others.

Cloudbet has been in operation since 2013 and is an industry leader when it comes to crypto betting, with over a hundred thousand users and millions of bets processed. It offers many different cryptocurrencies for betting, including Bitcoin and Ethereum as well as stablecoins such as USDC or USDT. The platform can be accessed in eighteen languages making it the number one choice for bettors who want to use cryptocurrency.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

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