Table of Contents
In this report:
- GambleFi: The Next Massive Growth Sector in Crypto
- Top 100 Gainers: Trust Wallet Token (TWT) +19% (7D)
- Micro-Cap Gainers: Play Zap (PZP) +323% (30d)
- Monthly Altcoin Pick: The Altcoin Pick for October was released last week
Gambling + Decentralized Finance = GambleFi
There are gray areas within the crypto space that don't get much attention, but should. Two such sections are the adult sector and online gambling.
In this week's report, I'm going to delve into (likely) the next massive growth sector for crypto - the GambleFi sector.
What is GambleFi?
GambleFi refers to a trend in the cryptocurrency and blockchain sectors that combines elements of online gambling and decentralized finance (DeFi).
As decentralized finance (DeFi) continues to mature, online gambling remains a multi-billion-dollar industry, and the confluence of these two sectors in the form of GambleFi presents intriguing growth prospects!
The Market Potential
The online gambling industry alone is expected to reach a staggering $800 billion in annual revenues by 2026. When you consider the rapid growth of the cryptocurrency market, which has attracted millions of new users and seen a dramatic increase in transactions, the potential for GambleFi becomes even more evident.
How successful are GambleFi tokens?
Let's take a look at an example...
Rollbit Coin (RLB) +7,894% (1Y)
The story for RollBit is interesting, to say the least. There was no ICO for Rollbit, instead, Rollbit airdropped RLB for free to existing users of its casino and trading platform, Rollbit.com.
The RLB lottery drives demand for the token, acting as entry tickets that give holders the chance to win a share of the casino’s profits. RLB tokens must be staked to enter the lottery. The prizes come from a profit-sharing pool, where 20% of all the casino’s profits accumulate daily.
The supply of RLB is capped at 5 billion coins and to access the lottery, RLB must be staked in each round, where half of the 0.20% staking fee will be burned (i.e., permanently removed from the supply). This mechanism helps to support value growth over time - and it seems to be working over the last few months.
The Next Big Trend?
In 2020, the dominant trends were decentralized finance (DeFi) and yield farming, followed by the rise of NFTs and Layer 2 Solutions in 2021.
As we entered 2022, Web3 and Decentralized Autonomous Organizations (DAOs) took center stage. Now, in 2023, these various technologies are finding applications and integrations across multiple industries, including the world of online gambling.
GambleFi remains an emerging trend that has yet to capture mainstream attention. The space is bustling with new projects eager to make their mark, positioning it as a potential growth hotspot for 2023 and 2024.
Keep an eye out for our upcoming reports as we explore this burgeoning sector in greater detail and identify specific projects worth investing in.
Join Us - As We Accumulate
Now is still an excellent time to be getting into the market. If you would like to know what we are buying, you are more than welcome to join us as we share our monthly Altcoin picks in preparation for the upcoming bull run - You just need to become a member.
Richard.
Crypto Market at a Glance (7D):
Crypto Fear & Greed Index:
Today's Crypto Fear and Greed Index = Neutral –> Increased to 50 (from 48 last week).
The crypto fear and greed index is determined by human emotions - Fear and greed. These two primal emotions, play pivotal roles in shaping investors' decisions and the overall market sentiment.
Learn more about the emotional landscape of the crypto markets when it comes to fear and greed and how to safeguard yourself and your crypto investments from it.
Looking for a Little Crypto Humor?
Check out our latest Bitcoin Jokes - Guaranteed to make you laugh (or cringe).
Paul Andrews
Bitcoin & Ethereum Price Movement
Bitcoin has increased 1.42% in the last week, currently trading at $27,913. In the previous 90 days, Bitcoin has decreased by 7.7%.
Ethereum has decreased 1.33% in the last week, currently trading at $1,643. In the previous 90 days, Ethereum has decreased by 11.7%.
Global cryptocurrency market capitalization has increased to $1.09T (from $1.08T last week).
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Trust Wallet Token (TWT) +19.2% - Ranked #81
Trust Wallet Token (TWT) is a utility token designed for the Trust Wallet platform with the aim of making cryptocurrencies more accessible. It serves multiple roles, including governance, where token holders can participate in decision-making processes, and as a payment method for various platform-related activities. The token is available on both the Binance Chain and Binance Smart Chain.
Avalanche (AVAX) +16.2% - Ranked #20
Avalanche (AVAX) is a cryptocurrency and blockchain platform designed to compete with Ethereum. It stands out for its speed and scalability, boasting the ability to process up to 4,500 transactions per second. The platform uses its native token, AVAX, for transaction fees and network security. It also supports smart contracts and decentralized applications (dApps). One of the unique features of Avalanche is its governance model, where AVAX holders can vote on various aspects like transaction fees and the rate of new coin creation. The platform aims to be fast, versatile, secure, affordable, and accessible, and it operates on a proof-of-stake mechanism.
Solana (SOL) +15.0% - Ranked #7
Solana (SOL) is a blockchain platform designed to host decentralized, scalable applications. Founded in 2017, it is run by the Solana Foundation and was built by Solana Labs. The platform is known for its high transaction speed and low fees, making it a strong competitor to Ethereum. Solana uses a unique consensus mechanism called Proof-of-History (PoH), along with Proof-of-Stake (PoS), to achieve fast and secure transactions. The native cryptocurrency of the platform, also named Solana (SOL), saw significant growth in market capitalization but experienced a drop in 2022.
Bitcoin SV (BSV) +14.9% - Ranked #49
Bitcoin SV (BSV) is a blockchain platform created as a hard fork of Bitcoin Cash, aiming to fulfill the original vision of Bitcoin as outlined by its inventor, Dr. Craig S. Wright. It is known for its extremely fast transaction speeds, capable of handling 50,000+ transactions per second on its test network, and very low transaction fees of $0.000003. BSV aims to adhere closely to the original Bitcoin Protocol and is designed to be regulation-friendly.
Biggest Micro-Cap Gainers in the last 30 days
Every week we review and analyze small and micro market cap cryptos looking for the next low-cap gem. These are the best-performing (quality) micro-cap projects over the last 30 days:
PlayZap, a project incubated and backed by Kucoin labs has made the list for the second week in a row. PlayZap is a play-to-earn, community-driven gaming platform where players can compete in skill-based tournaments on a variety of casual games to win crypto rewards. It's up 323% in the last 30 days.
Best Performing Quality Micro Caps (Last 30 days):
- PZP +323% - Online Gaming (Nano-Cap) - 2nd week in a row!
- DEXTF +308% - Tokenized Portfolios (Nano-Cap) - 2nd week in a row!
- DYP +200% - Metaverse Project (Nano-Cap)
- GARI +140% - Blockchain Social Network (Nano-Cap)
Monthly Altcoin Pick:
Last week we released the latest Altcoin Pick. If you would like access to this and future Altcoin picks, consider becoming a member - It's only the price of a couple of cups of coffee a month.
Altcoin picks are emailed to members as soon as they are published. If you are wondering how we choose our monthly Altcoin Picks - this is the methodology we use.
Our Altcoin Picks for the prior months can be found here.
Thanks and appreciation to all our members!
Until the next report,
Richard.
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