Altcoin Boom in Online Betting: the Situation Today

Altcoin Boom in Online Betting
The Online betting industry is changing as alternative cryptocurrencies surge, headlined by Ripple's XRP and the remarkable comeback of $PENDLE.

While giants like Bitcoin and Ethereum hold steady, alternative cryptocurrencies have seized the limelight in the online betting industry. Ripple’s XRP, for instance, shot up over 60% after a landmark ruling by the U.S. government that it does not classify as a security. With its value swinging between $0.70 and $0.80 since July 14, it appears altcoins are seizing this moment in the sun.

At the same time, the native token of Rollbit, $RLB, has been grabbing the headlines. Following a shift from Solana to Ethereum and an intriguing partnership with $JIM, $RLB skyrocketed from $0.019 to a remarkable $0.12. Furthermore, the Rollbit gambling platform has witnessed a surge in user growth, bolstered by impending platform updates.

Rising Stars and Underdogs in the Crypto Betting Arena

Additionally, some altcoins, like $SUI, native to the Sui blockchain, and the established Chainlink, have been slowly yet surely gaining traction.

Despite a mere 0.6% uptick, even the memecoin $PEPE is drawing attention. Particularly, Chainlink’s steady ascent over the past month, with a rise of 34.2%, deserves mention.

Interestingly, some underground low caps are creating a buzz in the crypto sphere. The crypto AI integration token $ROKO from Roko Network is making waves in underground circles. In an unforeseen turn of events, a Shiba Inu whale turned a modest 0.3 ETH investment in $SHIB into $4.5 million, sparking renewed interest in the token.

Simultaneously, $PENDLE from yield project Pendle Fi, an underdog that debuted in 2021, has made a remarkable comeback.

After hitting rock bottom in 2022, it has soared a whopping 1487% over a year. Traders, anticipating future platform updates, are scrambling to get their hands on $PENDLE.

Implications for the iGaming Industry

This altcoin boom in online betting holds significant implications for the broader iGaming industry:

  1. Diversification: iGaming platforms can diversify their digital asset offerings beyond Bitcoin and Ethereum, potentially attracting a broader range of crypto-enthusiast gamers.
  2. Engagement: The dramatic fluctuations in altcoin values can inject an extra layer of thrill into betting, thereby enhancing user engagement, especially in those following 2023 iGaming Trends.
  3. Innovation: With more altcoins entering the fray, new partnerships and technical developments could fuel innovation within the iGaming industry, paving the way for more immersive and dynamic betting experiences, like the use of NFTs in gambling.

In conclusion, the altcoin surge represents a paradigm shift in the iGaming industry’s approach to online betting, potentially redefining the future of digital wagering.

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Kasper Berg

Kasper Berg

I am a professional writer with extensive knowledge of iGaming. I want to share enthusiasm for the future of the industry and help others see the potential for a decentralized, web3 powered world.