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A Potential Killer dApp Emerges — TronBet Volume Hits $41 Million in a Single Week

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TRON network is known for its rather popular decentralized applications (dApps), most of which are gaming and gambling-oriented. One of the betting apps, called TronBet, recently exceeded all records by experiencing a massive $41 million-large betting volume within only seven days.

The platform’s top user wagered around $98 million, while the top 20 users wagered a total of $455 million in a single week. With this in mind, it was calculated that the application would likely make a profit of around $36 million on a yearly basis.

A Twitter user called ‘vance,’ who originally pointed out the dApp’s success explained how and why TronBet became so popular and profitable in a short period of time. According to him, the platform offers a lot of fun games, it is fast, it has no fees, and has player liquidity. It features a native token called ANTE, but even so, the dApp’s features and success make it pretty difficult to believe that it is actually created on a blockchain.

How do users profit?

Another thing that is helping users make pretty large profits is TronBet’s mining process. Users mine ANTE, the platform’s token, for every bet they make. Furthermore, the users’ ANTE ownership allows them to get a share of TronBet’s daily profits, which can be anywhere between $75,000 and $150,000, according to vance.

These rewards are only provided when ANTE is staked, and are supposedly distributed every day in form of TRX coins. According to vance, ANTE is also mined by crypto whales by using the betting process.

Vance then went on to explain that the platform’s roadmap works in accordance with the daily dividend distribution process, one which involves higher levels of risk. The risk revolves around holding onto ANTE, which is an illiquid asset. However, TronBet’s betting is tied to live sports and casino-type gambling games, which are sustainable.

Furthermore, token economics form a very tight feedback loop, which works as an incentive for users not only to stick around but to also return t the platform on a daily basis and stake their ANTE tokens.

Vance concluded by stating that he is surprised that the dApp’s success has not attracted more attention, particularly when considering its pretty impressive statistics. He believes that the issue lies in the fact that gambling and gaming dApps are not that appreciated among the blockchain community. However, he thinks that this is a wrong way to look at things because these dApps might serve as a very important stepping stone for further development. In other words, the blockchain space would likely benefit if any dApp reaches mass adoption, be it gaming/gambling or otherwise.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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