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Ripple investors were recently concerned to see that deposits have been growing on exchanges lately, while investors take refuge in Aptos and the up-and-coming GambleFi protocol Rollblock ($RBLK). Find out why experts are bullish on this potential 50x casino gem.
Ripple ($XRP) Whales Begin to Offload as Exchange Balances Rise
Ripple has gained 0.7% today to reach $2.41. This brings the Ripple monthly gain to an incredible 288% at the time of writing, as Ripple has rallied rapidly from around $0.6 at the start of this month.
A large amount of Ripple supply has recently been deposited to the Binance cryptocurrency exchange, as Ripple whales have been offloading their bags likely with the intent to sell. The recent 400% rally has no doubt woken many large Ripple holders from their summer slumbers, as it looks as though the Ripple surge could well be over for now. Support for Ripple looks to be fairly strong at $2.05, although if this doesn’t hold, then a retest of $1.47 would be likely.
Aptos ($APT) Gains 5% Despite Token Unlock Fears
Aptos has risen by 5.3% in the last 24 hours to reach $13.58 on a decent trading volume of $636 million. This gain brings the Aptos market cap up to $7.27 billion and secures Aptos its place at number 25 in the CoinMarketCap crypto rankings.
There are concerns in the Aptos community that a coming token unlock could tank the Aptos price significantly. Aptos will release 2.1% of its total supply this week, currently valued at around $134 million. This could cause increased volatility around the Aptos trading price and will rely on significant buying pressure entering the market to counteract this Aptos selling pressure. However, it looks as though Aptos could reach $15 in the near term as long as the bullish trend remains intact.
Blockchain-Backed Gaming Upstart Rollblock ($RBLK) Hits the Heights
Rollblock ($RBLK) has been trading ever higher over the last few weeks, as this promising DeFi GambleFi project recently made a new all-time high of $0.041. It has recently progressed through to stage 9 of its early-stage funding rounds, with over $7 million in total value locked, and it shows no signs of slowing down yet.
The Rollblock community is fully on board and stands to benefit enormously from Rollblock’s growing adoption. The $RBLK token represents a stake in the success of the Rollblock platform as a whole, thanks to its unique revenue share mechanism that will buy back more and more $RBLK from decentralized exchanges as demand ramps up. Each week, Rollblock profits will be taken to the open market to buy up potentially millions of $RBLK tokens, 60% of which will be burned from the supply, and the rest will be allocated to loyal stakers in the Rollblock gaming community.
As demand grows ever greater, the supply will be dwindling on exchanges. This has led experts to predict a coming 50x supply crunch, as demand will far outpace the supply. A 50x price appreciation is not out of the question for $RBLK in the coming months.
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*This article was paid for. Cryptonomist did not write the article or test the platform.
