2023-7-14 12:42 |
Thursday marked a big day for the crypto market.
Judge Analisa Torres of a U.S. District Court today ruled that “XRP” is not a security – handing over a big victory to Ripple Labs in its legal battle with the Securities and Exchange Commission as Invezz reported here.
Ripples news helped buoy crypto prices todayOnly hours after the decision, both Coinbase and Kraken resumed trading in XRP that nearly doubled in value on Thursday. The development is particularly significant since the said SEC lawsuit had Ripple under siege for about three years.
But better late than never, eh? The ruling in favour of Ripple today served to deliver hope to the likes of Coinbase and Ripple that are also currently up against the Securities and Exchange Commission.
Bitcoin climbed above $31,500 following the court decision and Ethereum surpassed the psychologically significantly $2,000 level, suggesting the optimism is spreading across the entire crypto ecosystem.
It’s conceivable, therefore, that it’ll eventually benefit the up-and-coming crypto platforms like Chancer.com as well.
Chancer aims at disrupting the betting marketChancer is a blockchain-based betting platform that lets you create your own market on sports to politics and everything in between.
It aims at disrupting betting and digital gaming – a $90 billion market that is expected to grow at a compound annual rate of 10% in the coming years. Founders of Chancer.com foresee it to eventually be a decentralised network that’s safer than peers.
But the best part is that this peer-to-peer betting platform is powered by a native $CHANCER token. That’s significant because investing in this BSC0 token creates an additional source of potential profits on top of creating and participating in custom bets.
$CHANCER is currently in pre-sale. For further details and information on how to invest in it, visit the project website here.
$CHANCER token could double from hereLike any crypto asset, how much is a $CHANCER token worth depends on supply and demand.
The project was launched on June 13th. In just one month, it’s raised more than $0.75 million selling its native token. So, it’s fair to say that the demand side of the equation looks strong.
More importantly, as stated above, it’s in pre-sale at writing and will ultimately go live on the renowned crypto exchanges – an event that typically tends to help a crypto token in unlocking its next leg up.
$CHANCER is currently worth $0.01 and is expected to go for $0.021 by the end of the pre-sale which essentially means the token could more than double from here.
Notable catalysts for the Chancer tokenNote that the Ripple news on Thursday is not a stand alone catalyst for cryptocurrencies. Jacobi Asset Management, following a lot of delay, is now set to launch a Spot Bitcoin ETF in Europe this year, as per Financial Times.
Across the Atlantic, financial behemoths like BlackRock have filed for such an exchange-traded fund in the U.S. as well that many believe will get the approval from the SEC considering the immaculate track record of the asset manager when it comes to winning a “go ahead” for ETFs.
Demand for a Spot Bitcoin ETF is important as it signals institutional investors’ interest in the crypto assets.
Then, of course, there’s the Fed card. Earlier this week, the Bureau of Labour Statistics reported inflation up 3.0% on a year-over-year basis for June that created at least some room for the central bank to consider reevaluating if it does indeed want to raise two more times as it telegraphed recently.
As the FOMC begins to turn lenient on the monetary policy, investors may turn more aggressively to the risk-on trades and that includes cryptocurrencies like the $CHANCER token.
Lastly, the NFL season is upon us. The related boost to sports betting and digital gaming will likely drive more users to Chancer.com as well.
To find out how to buy the $CHANCER token in a few simple steps, visit the project website here.
The post Chancer token price forecast as Ripple secures a big win against SEC appeared first on Invezz.
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