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Dragon Inc: On Course To Complete World’s Largest ICO
Dragon Inc, a fintech company that underpins casino gaming sector with blockchain technology, launched its pre-ICO (Initial Coin Offering) on Friday 8th December. This is a subscription round of funding that allows the public to buy the company’s cryptocurrency. The ICO was set to end on 15th December.
To enable investors of both Bitcoin and Ethereum. to participate in the ICO, Dragon Inc is considering extending the offer period by two weeks to ease congestion on the two networks. Investors have experienced serious challenges when transferring cryptocurrency in order to access the dragon ICO.
The deadline for the Dragon ICO was extended to 31st December.
The company CEO Chris Ahmad has come out strongly to defend the extension to allow community participation in this venture.
The temporary congestion challenges have, however, not dampened investor confidence with $1 million having been raised in the first weekend alone. In the gaming market, Dragon connects VIP gamers with ‘junkets’ -casino VIP rooms- across the globe that host private games and have a system of transferring funds via junket agents. Junkets account for nearly half of casino revenue worldwide.
In this space, Dragon Inc has a head start since it will enhance and improve junket and casino experience through cryptocurrency. This will allow junkets to attract VIP gamers by increasing transparency and reducing exchange and repatriation fees. The reduction in the cost of doing business has attracted significant interest and the company has raised more than $260 million through private investors, helping it to maintain its pace as a market leader in the world’s largest token sale estimated to be $600 million in total.
Dragon has already established a number of junket partnerships with an eye on this opportunity and plans to launch its first junket in the beginning of January 2018.
According to Chris Ahmad, Dragon CEO, the impact of this new business model will be immediate and dramatic allowing junkets to put the cards back in the hands of the players. This will save them huge sums of money and create new choices. A variety of mechanisms have been created for the coin holder to build long-term value while creating immediate benefits.
The benefits arising from this new model are huge in that Dragon will enable players to benefit from reduced commissions which run into the billions, increased security and transparency since it is built using blockchain technology.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of SomewhereInLife via Flickr
BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.
Binance Coin Outlook
BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.
Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD) on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.
The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…
Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
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