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Barely two weeks since launching a presale to usher in blockchain-based predictive markets application, Chancer has raised $399,277 from investors. The token, which goes for $0.01 BUSD, has attracted demand owing to the novel business model centred on peer-to-peer betting. With the price set to increase to $0.011 BUSD in the next presale phase, investors see a huge opportunity to enter early before a potentially explosive move. But is an investment in $CHANCER worth it?
Spot Bitcoin ETF increases frenzy on crypto
While Chancer’s flash presale is a testament to its sound ecosystem, the sentiment could also emanate from the rest of the market. Bitcoin is attempting to break above the $30,000 barrier, while Ethereum is finding its way back to $1,900. The two leading cryptocurrencies are often considered the pacesetters and barometers for the rest of the sector.
More specifically, BTC price trends reflect expectations that the SEC will yield to pressure and agree to a spot Bitcoin ETF. Fidelity is the latest to express the desire to file for a spot in Bitcoin ETF, while BlackRock previously made the move.
The present BTC price trends are not indicative of future performance, given the market uncertainty is yet to clear. However, it suggests that investors are not yet done with crypto. In particular, they are focusing on tokens with the potential to make big moves in the market, especially those launching now. $CHANCER could be benefiting from this sentiment.
Why Chancer is changing the betting world
Just think about this; If you are participating in betting, you are restricted to what the bookmaker has provided, and you have to play by their odds and rules. Chancer is changing that. Rather than participate in a betting market created by bookmakers, you can create your own P2P market and bet via it.
You then invite peers to your betting market or join theirs, where you can predict and win prizes. The exciting thing about Chancer is that investors can bet on nearly anything under the sun through a decentralised platform.
Is Chancer a gambling or investment platform?
Although Chancer has betting elements, it is not a gambling platform. It is a platform for investors to engage in P2P predictive markets and earn rewards and passive income. The ability to create numerous live markets that align with the user’s interests makes Chancer an ideal investment platform.
Apart from betting-related earnings, investors can stake $CHANCER for passive income. Staked tokens increase liquidity on the platform, allowing investors to enter and exit trade positions.
There are market-making rewards for creating Chancer markets, incentivizing investors to continue building the platform. Investors also earn by sharing Chancer with others through a Share2Earn feature.
Is Chancer set for a 1,000% price increase in 2023?
Betting is a huge industry, with the increasing technology uptake taking it to new levels. Chancer is entering the sector but doing it differently from its rivals. As such, the potential for the platform and its native token is enormous.
A 1,000% for 2023 could be more ambitious, although it could be hit depending on demand after listing on Uniswap in Q3. A double price increase would be a realistic prediction for 2023. However, there is no limit for $CHANCER going forward as tokens have easily risen by similar margins. As such, a 10x price increase is realistic in 2024.
Is it the right time to invest in $CHANCER
$CHANCER is in its first presale stage when the price is at its lowest. This means buying now could be the best chance to ride potential price surges before the next phases of the presale or token listing on exchanges.
The post Chancer’s presale on the $400k mark as spot BTC euphoria stirs crypto markets appeared first on Invezz.
