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As Q3 2023 digs deeper, investors are anxious. The listing of the token of the world’s first decentralised betting platform, Chancer, is drawing closer. In anticipation of huge price moves, investors have grabbed over $1.76 million of tokens in presale. The high demand for the token highlights a huge potential even as risk-on mood unsettles markets. But how attractive is the token upon listing on Uniswap this quarter?
About Chancer and how it works
Chancer is the first blockchain to introduce a decentralised P2P betting model. The network aims to change how betting works by giving autonomy to the user. Users determine the events to bet on and set rules and odds for successful winnings. The approach differs from the current system, where the bookmakers remain 100% in control. Let’s look at a familiar example to understand how Chancer works.
Assume your favourite marathoner is participating in an upcoming city running event. Based on past experiences, you expect them to win the marathon. Your friend (peer) holds a different opinion. So, you want to bet on the event.
Using Chancer, you simply create a market for the event. You and your friend can bet on it, secured by a blockchain ecosystem. You can make predictions over multiple events and invite friends from all over. Or, you can join their Chancer markets.
The P2P betting allows Chancer to reach many wagers and expand the scope of betting. With the betting sector market cap running in billions of dollars, Chancer carries a huge opportunity. This could be why investors are betting big on the platform before launch.
How will the Chancer token derive value?
The Chancer token ($CHANCER) derives value from the continued use and popularity of the platform. The token will be the medium of exchanging value. That includes claiming winnings on successful bets. As more investors access the platform, Chancer could see increased demand, helping the price skyrocket.
Chancer also derives utility from the P2P markets. Users will be rewarded with the token for creating the betting games and Chancer markets. The aim is to incentivise users to continue developing the Chancer platform and make it popular.
Investors seeking passive income will also benefit from using Chancer. They can stake the token over time and earn yields for contributing to the platform’s development. There are also rewards for sharing a word about Chancer. These use cases help Chancer’s value to increase and deliver returns to investors.
What is the price potential of Chancer in 2023?
The price of the Chancer token in 2023 could be driven by speculation. Investors are already anxious about the platform, which could increase speculation once the token is listed. Plus, the search for newly launched tokens with huge price potential could raise volatility.
In 2023, analysts have projected up to a 1,000% price increase for the token. The price potential is realistic as newly listed tokens have risen by bigger margins. In this prediction, the expectation is that Chancer could rise 10x more sustainably in 2024 and beyond. This is when the main platform will have launched, and Chancer sees value increases driven by organic use. A double-digit percentage price increase should be considered sufficient for 2023.
What does it mean to invest in Chancer now?
Chancer’s listing is fast approaching. Investing in the token now could be ideal for investors looking to capitalise on initial price gains.
Currently, Chancer goes for $0.011, which is quite low and attractive for early birds. Investing after the token listings may mean investors spending more to buy the token at a higher price.
The post Is Chancer’s presale momentum likely to continue after the token listing? appeared first on Invezz.
