In contrast to the prevalent market winds, Rollbit Coin (RLB), the flagship cryptocurrency of the Rollbit gambling platform that utilizes blockchain technology for security and transparency, has seen an uptick of 10% over the past 24 hours. Following a recovery from a downturn early this week, RLB now trades close to $0.15, marking a significant 35% increase. For the first time since a disappointing correction from a peak of $0.21 in August, it’s suggesting a bullish return.
Riding on the accomplishments of an impressive 500% yield from its launch price of $0.025 in June, the summer has been marked as a successful period for RLB. Even though its momentum has lessened since August, its on-chain growth trajectory remains positive. With a market capitalization under $500 million, there is still room for increases, considering the rising deposits of ETH, ERC-20, and SOL.
The question of whether RLB will reach the hallmark $1 per coin mark is open to speculation. With nearly 3.3 billion tokens in the supply, this price would equate to a market cap of $3.3 billion. Although this might seem plausible given current figures, when compared to Shiba Inu (SHIB) with a market cap of roughly $4.3 billion, a more established community, and ongoing market bearishness, the potential of RLB reaching this mark soon seems dubious.
However, as more adoption and popularity within the Web3 gambling platforms are captured due to superior transparency and security, there’s optimism for a rise. With the internet’s gambling industry largely centralized and opaque, a shift towards Web3 platforms offering enhanced transparency and security is likely imminent which could be great news for RLB.
However, no investment proposition is without its alternative considerations. One such example is the upcoming meme coin token, $WSM, being launched by one of the internet’s most prominent retail investing communities, Wall Street Memes. Best known for its self-proclaimed titles of “the king of stonks” and now venturing to be “the king of crypto”, the initial sale of $WSM has already attracted $25 million.
As time runs tight, with the presale scheduled to conclude in less than 14 days, investors should potentially consider this token alongside RLB. Crypto landscape is unpredictable, hence hedging one’s investments wisely is crucial, now more than ever. While it is possible that any investment you make could fall to zero, the potential rewards appear worthwhile, particularly in light of possible successes similar to coins like Pepe Coin, Dogecoin, and Shiba Inu. Remember, information should be the cornerstone of any investment decision.
Source: Cryptonews
