2023-6-23 08:15 |
Chancer, a brand new blockchain platform, is doing extremely well as its token raised over $328k in less than two weeks. It has become one of the fastest-selling token sale in recent months as investors remain optimistic about the betting industry.
Sports betting stocks are doing wellOne way to predict a sector’s growth is to look at the performance of their stocks. A closer look shows that many betting stocks have done well in the past few months. Flutter Entertainment, the parent company of Fanduel, PokeStars, Sportsbet, and Sisal, has seen its stock surge to the highest level since September 2021. It has soared by more than 113% from the lowest level in 2022.
Similarly, in the UK, shares of DraftKings have done well as they more than doubled from their lowest level in 2022. They have soared by more than 141% and are now hovering at their highest level since January 2022.
The same situation is happening for other brands. Shares of companies like MGM Resorts and Penn National have all bounced back in the past few months. Only Entain stock has lagged the market this year as its stock has dropped by more than 21% from the highest level this year. Entain is the parent company of companies like Ladbrokes, Coral And Sportingbet among others.
Investors are optimistic about the betting industry because of the sizable market and its substantial growth. For example, the sports betting market, which was valued at over $83.65 billion in 2022, is expected to hit $91.43 billion by 2023 and $182 by 2030. This means that the industry will have a CAGR of about 10%.
Chancer presale token saleThis also explains why demand for $CHANCER token is rising. The token sale has managed to raise over $328k since Monday last week. This means that it has raised over a third of its $1 million target. The developers have sold over 32.8 million tokens.
For starters, according to its white paper, Chancer is building a platform for both sports and social betting. People will be able to access sports markets in its platforms and place wagers on them. At the same time, it will introduce the concept of social betting, where any $CHANCER token holder will create markets. For example, they can create a market for local parliament elections.
Decentralisation of the betting marketThe most important part for Chancer’s platform is that it will evolve to become a fully decentralized blockchain project. Unlike the companies mentioned above, Chancer will be decentralized, meaning that the community will make the decisions. Also, token holders will take part sharing the profits generated in the industry.
Decentralisation has been used well in industries like finance and NFTs. Some of the most important platforms that use decentralised autonomous organisations (DAO) are Uniswap and PancakeSwap. Decentralisation will make it possible for token holders to vote for key events and upgrades in the ecosystem.
Like I have written before, you should do your research before you invest in a token sale to avoid significant risks. At the same time, you should only invest a small portion of your funds in these token presales.
The post Chancer token sale surges on as sports betting stocks soars appeared first on Invezz.
Similar to Notcoin - TapSwap on Solana Airdrops In 2024
Waves Community Token (WCT) на Currencies.ru
|
