The Hidden Reason Behind 7000% Growth in 2023

Rollbit Coin has achieved significant success in the world of cryptocurrency so far in 2023, rising by over 7,000% since the beginning of the year amid volatile times for crypto.

What is Rollbit 

Rolbit is a cryptocurrency that evolves around casino gaming and crypto trading. with the Rollbit Coin (RLB) supporting Rollbit on the Ethereum (ETH) blockchain.

Rollbit offers several features including bonus battles, challenges, and player interactions. RLB is used to pay out rewards to Rollbit casino players and can also be bought, sold, and traded on exchanges.

The History of Rollbit

Rollbit was initially launched as a lottery platform in 2020 by two developers who go by the names Razer and Lucky. 

The RLB whitepaper was released in November 2021, and the token was launched as an internal part of one of the Rollbit lotteries, with no ICO. Most of the token’s supply was airdropped to “Rollbot NFT” holders via their Rollbit accounts.

To make trading and transfers more cost-effective, the team created the RLB token on the Solana chain. RLB was initially an SPL token, making it the first cryptocurrency launched by a crypto casino on Solana.

Despite its recent success, Rollbit is not universally accessible due to laws and regulations in some countries, and some investors may be cautious about investing in a platform with unknown founders. Although Bitcoin (BTC) has a pseudonymous founder, some people prefer transparency.

The Surge of Rollbit

The token’s surge in price was likely triggered by its launch on the Ethereum blockchain, even though it was previously on the Solana chain. Rollbit offers ultra-high leverage crypto trades, online casino games, sports bets, NFT loans, and NFT gambling. The Rollbit team has been innovative in developing many of these games.

Rollbit Rewards is the project’s exclusive reward program, offering various perks based on 70% of the house’s profits from users’ bets.

RLB coin currently supports $BTC, $ETH, $LTC, and $SOL and deposit and withdraw methods. Users can purchase any of these cryptos via third-party gateway integration

Rollbit created the RLB lottery to drive demand for the casino’s native token, where $RLB acts as an entry ticket. Users need to stake $RLB to win a share of the casino’s profits.

The initial total supply of $RLB on Solana was five Billion tokens, with several token burns throughout 2022 and 2023. These supply-reducing actions reduced the initial total supply by over 35%. The migration of RLB as SPL to RLB as ERC-20 followed the one-to-one ratio, ensuring a seamless transition for users by depositing their tokens to Rollbit via their user dashboard.

Conclusion 

Rollbit is a cryptocurrency centered around casino gaming and crypto trading. RLB token is supported on both Ethereum and Solana chains. Rollbit Rewards is the project’s exclusive reward program that offers various perks. However, some investors may be cautious due to laws and regulations in some countries and unknown founders.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.