Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Chancer has raised $1.99 million in a presale
The presale could benefit from improved crypto sentiment as BTC recovers to $27K
Chancer carries a more than 10x gain in the future.
Chancer has raised over $1.99 million in a presale welcoming the first decentralised betting platform. With betting one of the fastest-growing sectors, the prospect of taking it to blockchain has excited investors. This comes when cryptocurrencies undergo consolidations following market turbulence. Bitcoin has recovered above $27,000, giving hopes of a potential resurgence. The cryptocurrency had previously slipped to below $25,000. The recoveries in the leading crypto could boost the sentiment for risk-on assets, benefiting Chancer.
Why Bitcoin is rising this week
Bitcoin is up more than 7% over the past week, thanks to improving market sentiment. The sentiment reflects expectations that the Fed will pause rate hikes during the September 20 meeting.
Investors have based their expectations on the September 13 inflation, which showed cooling prices. Although the consumer price index increased 3.7% in August from 3.5% in July, the annual core CPI dropped. The core CPI, which measures inflation less volatile food and energy, increased 4.3% from the previous 4.5%.
The falling prices provide hope that the US is headed for the Fed’s target inflation rate of 2%. This could provide the impetus for the US central bank to pause rates. A less hawkish Fed is considered positive for risk-on assets, which could boost Bitcoin and altcoins.
The role of Chancer in the crypto ecosystem
Chancer is a revolutionary blockchain that aims to change how betting occurs. Presently, betting is conducted on centralised marketplaces. The bookmakers or owners of such marketplaces determine the betting events.
With Chancer, the role of intermediaries in betting is eliminated. Betting occurs in a virtual blockchain ecosystem, which is in the hands of the users. In other words, users create peer-to-peer betting markets and set their own rules and odds.
Wagers invite friends, family, acquaintances, and fans to their betting market. They can also join P2P markets created by others and participate in blockchain-based prediction.
Chancer carries a lot of flexibility as users can create P2P markets from multiple events. Users can create a Chancer market, from mainstream betting events to social activities. The ability to develop a P2P market from almost any event expands the scope of betting. This allows Chancer to grow and capture a considerable market niche in the fast-growing betting sector.
What is Chancer token, and what value does it carry
Chancer token or $CHANCER is the token that will run the blockchain P2P betting platform. Users get rewarded with the token for successful winnings and predictions.
CHANCER derives value from the popularity of the Chancer ecosystem. The more users join and participate in P2P betting, the more the token’s demand and price are unlocked. The prospect makes CHANCER an exciting token since betting is a demanded service.
Chancer token isn’t restricted to betting only. Users are rewarded with the token for creating the P2P betting markets. The aim is to incentivise more users to engage in market-making activities and grow the platform. Market-making rewards make a substantial investment case for Chancer beyond betting.
Staking will also be a passive income-generating strategy for Chancer users. Users can stake the native token to facilitate the platform’s growth and earn yields. For sustainability, users get discounted fees when they create or join P2P markets. Additional rewards are earned by sharing the Chancer platform.
Chancer price prediction in 2023 and 2024
Chancer gears for listing on Uniswap and other CEXs in Q3 2023. The price could start to pick up when the token is available on exchanges. Investors have earmarked up to a 1,000% increase for the token when listed.
In this prediction, a prudential 100% or more is preferable as a sustainable price gain. The forecast is based on the fact that the Chancer platform will launch later in Q4 2023 and early 2024.
A 10x increase is preferred in 2024 when Chancer’s demand stems from the use of its platform. In the long term, gains could exceed the 10x estimates as Chancer attracts more usage.
The post Chancer presale at the $2M mark as expectations of Fed’s rate pause boosts Bitcoin appeared first on CoinJournal.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.