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Crypto markets are mixed this week as the outlook remains unclear
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Chancer’s presale has surpassed $1.08 million amid high demand for the token
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Chancer has strong potential due to a robust betting market and blockchain application
Investors might be a little cautious in crypto this week. The market has displayed a mixed outlook, with slight gains and losses across the major cryptos. Meanwhile, investors are undeterred when it comes to newly launching crypto projects. Chancer, a new predictive markets project, continues to attract buyers. The project’s presale has surpassed $1.08 million in amounts raised.
XRP ruling jitters and key market developments this week
Jitters over last month’s ruling that Ripple’s XRP is not a security could be rattling crypto markets. The July ruling saw crypto markets, especially XRP, make strong comebacks. Investors believed that the ruling cleared the uncertainty in the crypto sector. But the recovery has now been muted, as SEC is said to consider appealing the court decision.
Meanwhile, investors are also watching the US non-farm payroll data this week for July. The report gives a synopsis of the US labour market and causes huge moves in the market. Investors are looking forward to slower payroll growth amid extreme weather conditions in the US.
Crypto markets have, in the past, reacted to NFP data. Strong payroll data has fueled selling in crypto on expectations of economic tightening. It also has a positive impact on the dollar and a negative relationship with crypto. Thus, the event will be closely watched on August 4.
Chancer presale maintains momentum.
As investors exercise caution on crypto this week, the buying of Chancer tokens isn’t slowing down. As of August 2, the project had raised more than $1.08 million. Since launching the presale on June 13, Chancer has been selling fast. The demand has been fueled by Chancer’s revolutionary betting model.
The project is launched with the promise of taking betting to the blockchain. Chancer will allow a peer-to-peer betting model via a decentralised ecosystem, the first in the world.
Decentralisation is the art of Chancer’s predictive markets system. Unlike the current betting system, P2P betting allows users to create their betting markets. They are not constrained by what their bookmakers provide. As such, one can bet on virtually any event through Chancer’s P2P markets. The platform also allows users to set their betting rules and bet against whomever they want.
The idea of a decentralised betting ecosystem has attracted interest in the project. In the future, Chancer will focus on adopting a quadratic governance model. This is where participants use their voice credits to vote on governance issues.
Is Chancer a good investment?
Betting is growing fast, allowing Chancer to carve a market niche. But aside from the novel betting model brought by the project, Chancer could be an ideal investment token.
First, the potential for the Chancer token to increase in value is high. The prediction emanates from a strong and growing betting market and the application of blockchain. Allowing investors to create Chancer markets and bet on multiple events will increase the token’s use case. This will allow it to increase in value and generate returns to investors.
Secondly, Chancer has an investment model beyond betting. Users get rewarded for creating Chancer P2P markets. Token holders can also participate in building the Chancer platform by staking the tokens. Other income-generating ways are sharing the platform and earning through a Share2Earn feature.
How much can the Chancer token increase?
Like any other newly launched token with a robust use case, Chancer can rise by up to 10x. The gains can be realised within months after the token debuts on exchanges.
The projection depends on how much the project will unlock value. With the mainnet launching in Q1 2024, the project could start attracting users soon. However, the value of Chancer could start to be unlocked in Q3 2023. This is when the token will be listed on centralised exchanges, starting with Uniswap.