This Undervalued Crypto Trend Has an $800 Million Market Cap and May Be the Best Sector to Invest In
Market sentiment is soaring as Bitcoin nears $37K, and the Bitcoin halving and ETF approvals are within arms reach. As such, many altcoins have pumped recently, with some up over 100% this month.
However, one blockchain trend is disrupting a $250 billion industry and remains under a $1 billion total market cap.
The industry is crypto gambling, and it has begun gathering significant momentum recently.
Analyst Predicts Crypto Gambling Could Be the Best Investment
In a recent video, analyst Crypto Costa explained the crypto casino trend to his 94K YouTube subscribers. The YouTuber highlighted the industry’s small market cap, which was at $450 million at the time and is now over $800 million.
Crypto Costa then highlighted its high potential, comparing it to the broader casino industry’s staggering $263 billion valuation. However, crypto casinos are amassing significant hype because they offer several crucial advantages over legacy casinos.
For instance, crypto casinos provide faster deposits and withdrawals, offer users ownership and casino revenue share, extra rewards, increased privacy, and more.
Considering its real-world utility and low market cap, this could equate to tremendous growth potential for the undervalued crypto sector. This is particularly true because many crypto casinos are already established businesses.
For example, the owner of the crypto casino Stake.com reportedly bought an $80 million property in Australia in 2022.
Looking ahead, two significant drivers could impact the crypto casino market cap: gaining market share in the casino industry and speculative and utility-driven demand within crypto.
Analyst Crypto Costa highlights these factors have already begun bolstering existing crypto casino prices. One example is market leader Rollbit, which climbed to an impressive $767 million market cap despite only launching in March.
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