The RLB token has experienced massive growth in 2023, rising over 19,000% to become a top 100 cryptocurrency by market cap.
However, after gaining greatly it has pulled back some in recent weeks, trading around $0.17. Still, according to leading crypto analyst Crypto Stream, who has over 38k followers on the (former Twitter) platform X, RLB may still have significant upside potential.
In a recent deep dive analysis on Rollbit, Crypto Stream laid out a compelling case for why RLB could continue climbing despite its parabolic rise already. As he said, “Rollbit is officially the best-performing token this year.” Let’s take a closer look at some of the key points he made:
Rollbit operates one of the largest crypto casinos and offers games, sports betting, and crypto futures trading.
While this may not seem unique, Crypto Stream pointed out that “The special thing about Rollbit is the amount of revenue it generates.” Rollbit saw $50 million in total revenue across its casino ($33.8M), futures ($11M), and sportsbook ($6.6M). As Crypto Stream remarked, “This revenue was generated in only 30 days!”
Perhaps most interesting is what Rollbit does with this substantial revenue. As Crypto Stream noted, “Rollbit uses this revenue to buy back the RLB token from Uniswap & burn it. In the last 24 hours alone, $318k was spent on buying and burning over 1.7 million RLB tokens. Crypto Stream emphasized, “I know that sounds unbelievable … But it’s fully traceable on the chain!”
The analyst also dove into RLB’s tokenomics. The token initially launched on Solana before transitioning to Ethereum. Around 40% of the total circulating supply has already been burned. As Crypto Stream concluded, “Let’s put things into perspective: Rollbit has annualized revenue of $600m but its marketcap is only $564m.”
In closing, Crypto Stream acknowledged that Rollbit’s growth does seem “unbelievable” but said “they do indeed buy back & burn around $300k RLB every day.” He believes there is still significant potential given Rollbit’s revenue generation outpacing competitors but its small market cap and lack of major exchange listings.
As Crypto Stream says, “What do you think?” RLB could prove to be one of the biggest investment opportunities in crypto based on these compelling fundamentals.
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